@cfa_redemption_12713
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Up5
The only difference question wise is that when referring to equities most of the questions will refer to margin call price or total return given prices, with the derivs questions most of them have give you the amount of funds you have to place and the minimum $ amount of maintenance margin to have in your account; with these you need to be cognizant of the amount of contracts in the account and the multiplier of the contract. Most questions will ask about how much $ wise to bring back. Also, pay attention to whether they’re short the contracts and/or have a reserve fund
Up5@treschitta‌, I am currently on L2 in the Denver area and my best friend who lives in Wash Park is also on L2, let me know and maybe we can find some times to sit down!
Up4@Sarah again I certainly agree with you. I’ll be at 4 years experience come May 10th, just before we take Level 2, but thats neither here nor there. Its now been a week, had a great weekend with my friends and will begin my studying today! Very excited to get back in the swing of things, know exactly where I went wrong, sat down with my boss/PM and have a great plan to pass for December. It’s like Keats said “Don’t be discouraged by failure…It can be a positive experience. Failure is, in a sense, the highway to success, inasmuch as every discovery of what is false leads us to seek earnestly after what is true, and every fresh experience points out some form of error which we shall afterwards carefully avoid…”
Up4@microeconomist thanks for useful thought. Only problem I have is when you’re given correlation or covariance between A and B, obviously know how to convert correlation to covariance and vice versa given the standard deviations, issue is converting the rest of the formula given radical, etc
Up4I’ve read through the material, then took notes on my highlights, then read all the secret sauces and noted my highlights there. Have taken at least one 20 question exam on each study section and now going backwards from lowest to highest scores. Intend on souley doing questions for the next 5 weeks. As an FYI who read this and think you’re behind, you’re not, all I do is work and study for 17 hours a day.
Up4I agree with Stuj79 here, think the key to the question is the 5 years, usually they’ll say 6% for the foreseeable future or something along those lines. I also agree that Kaplan isn’t as good as it has been, I’ve been mostly using the CFAI and then switching to the Kaplan Q bank when i get a few free moments at work. Anyone have an reccs on possible mock exams beyond CFAI/Kaplan that have worked well?
Up3Has anyone watched the Schweser videos? Thoughts on them?
Up3@sophie, as always, thanks for the quick reply. Yes, I actually work the 1.25 miles to work everyday and try to get to the gym 3-4 times a week, which I wasn’t doing for the June exam; reading the secret sauce notes/going through LOS Exams on the bike have been helpful. Unforutnately my caffeine in-take has risen in November also, was at 1-2 cups of coffee before-hand, now at 2-3 cups…
Up3I failed the first time I took level 1 not because I wasn’t prepared but because of all of the nerves on test day-the second time round I also did more mock exams, found a study group and gave myself the final month of just doing practice tests/quizzes, as well as eating healthy, exercising and most certainly getting enough sleep. Passed with ease that second time after applying the above and have now just passed Level 2. You can do it, don’t get discouraged, I’m sure you have a lot of people who want to see you succeed. Keep going!
Up2I’ve been using this sheet, its extremely helpful not just in remembering what standard goes with what, but is a helpful exercise is running through each of the concepts as well, i.e. IFRS has FIFO while GAAP allows for FIFO or LIFO, means IFRS will usually present lower COGS=higher net income
Up2On to L3
Up1Well I relied on the books last time, so this time Im going to start by reading the Ethics in my book again and then do the Schweser calendar. I’ll watch all the videos and use the summaries and only use my books for practice questions/learning statements. My work is also helping me get someone to review the financial reporting and accounting area. PS, someone posted a great excel doc that helps model hours, thought that was a good reference tool as well. Will study between an hour to two every day, and 3-4 on weekends, so about 300-350 total and all of November will be practice questions. Thoughts?
Up1I am going to cut down to 1 cup a day, think that will help, thanks for feedback guys
Up1So in this case you need to square the weights (as always), but don’t need to square the variances, you then take the square roots of both variances to get the standard deviations in the final part of the equation and 1 is your correlation number, but you then take the square root of the whole enchilada…i.e. [(0.4)^2(0.25)+(0.6)^2(0.4)+2(0.4)(0.6)1(0.25)^0.5(0.4)^0.5]^0.5….0.5795
Up1So I took the Fitch exams this past weekend, $50 and I felt like they were pretty solid.
Up0Thanks Sarah, I decided to join a running group where no one works in finance and has any idea what the CFA is, haha, I think that will help ease things a little, if only for today
