@cfacharterwannabe
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Up6
@christine‌ so weird as it may sound I was wondering are we supposed to score in the 70-80% range on the first attempt of the Schweser practise exam?
Up5@agent1 Maybe it’s just me but I think that besides having great skills one needs to acquire a solid education. When I was a kid, things like ‘A’ levels were like big deals. But now, you see young people with 2 or 3 degrees minimum and many of them still can’t find jobs. Its very important to move with the changing times. I think even though experience and networking are very strong points, you need to have very good qualifications as well. I know that this means at this point in time it will mean sacrificing your social life. Basically it will be social suicide. But it is truly a good investment for your future. You have to make sacrifices in your present to have a future. And friends seriously good friends are going to stick no matter what 🙂
Up5@Conman89 the things that you have mentioned in your post are pretty much a part of the curriculum. so if you know about ’em already that’s good. This will be a major help. I think the material in the CFA curriculum is pretty explained so you don’t really need to prepare for anything separately or before hand. From my knowledge, the CFAi books are pretty detailed. Anything and everything you want to know is explained in a lot of detail so you don’t need the extra effort to go through other material before starting your studies.
This is the main reason a lot of people, including myself, use third party material to prep for Level 1. Saves time and helps you skip over the overly detailed material in the CFAi books. So hopefully that answers your question. And good luck with your MBA and CFA studies when you start ’em.
Up5These are a few things I’ve picked up over the years that help me to concentrate and, most importantly, get stuff done…
*Hit the gym or go for a run. Getting the blood pumping tends to revive me. Plus it reduces some fidgeting and improves quality of sleep & relaxation.
*Regulate coffee intake (every now and then): I find that by reducing coffee intake every now and then (to maybe 1 coffee/day for a week or more), when I then do have coffee the caffeine will makes my crazy hyperactive and improves my memory and creativity. Not to mention that coffee can be a pretty savage appetite suppressant, which means that while you’re filled to the eye-balls with coffee, your body might not be getting the nutrients it needs to operate at 100% efficiency.
*Sleep. If you can manage to get plenty of sleep your work/study/thinking/exercise time will (in most cases) be more effective than if you were doing it in a sleep-deprived state.
*Don’t multi-task. Try not to multi-task. I find this to be freaking difficult, which is why I migrate to the library and turn off internet when I want to study. I know that I can do 4 or 5 things at once, but when it comes to highly detailed stuff (including study) it’s better to focus solely on the one task so you know if back-to-front. It’s the best way to get something drilled deep into your memory.
*Time management. I live in 40 minute (and sometimes 20 minute) time periods. For the best part of 10 years in business I’ve timed just about everything I do, racing against a countdown computer on my phone or watch. Sounds incredibly anal (and it probably is) but it works for me. The reason is to make sure I don’t screw around and lose an hour on something that should take 30 or 40 minutes. Ultimately it’s about business efficiency. With study I set my countdown timer on my phone for 20 minutes as I find it more boring than normal work; if I’m still deep in concentration at the 20 minute mark I will hit “go” for another 20 minute period. I try to stand up and go for a 1 -2 minute wander (get a glass of water etc) every 40 – 60 minutes.
What not to do:
*Scotch. Good for creativity & relaxation, not so good for study concentration and memory recall.
@mitch895 totally amazing you are my man. Those are some seriously good pointers. Thanks a lot!!!Up5@zatar: well everyone has a different opinion on this. A lot of people such as myself are using third party material like schweser as the primary source and then the CFAI books as a supplement. If i have any problems in an area while studying from kaplan, i refer to the CFAi material cos its really detailed and explains things a lot. But its supposed to be really time consuming which is why people choose to use kaplan. It depends on your methodology of studying and what you are comfortable with but for level 1 people usually do this. so good luck making ur choice and good luck for everything 🙂
Up5@shreeneewas yeah i think i said this in a post before as well just a couple of days back re schedules. I said this before a lot of people work well with them. And then there are a lot of people, myself included, that actually freak out when I so much as look at a schedule. Try to find what works for you. I believe that when you are unable to complete something on your schedule, one starts feeling seriously guilty which simply leads to a panicked mind which in technically affects your study speed. So do what works for you. Just cos a lot of people use em, you don’t have to as well.
I am more a fan of moving chronologically. And I get really messed up when I try to mix two different topics together. If it works for you, go for it. What the heck right? Everything is fair game 😀
Up5@attar1297 yeah my serious recommendation would be do attempt questions along with the study material. There is so much material and formulas to cover that you will get overloaded and extremely confused if you leave all the questions for the last couple months after covering all your theory. I have tried both methods before. I have done ACCA and I made a similar mistake then of just covering all the theory and leaving all the questions for the end. Firstly, I couldn’t remember the earlier theory and formulas I had covered and I had to keep going back and revising everything again. Waste of a lot of time. If you practice questions on the side, they will help you retain the theory and you will also be quicker at solving questions by the time exams are near. Faster pace.
Up5@Boontharika yeah I am not a huge fan of schedules myself but hey since you were asking I thought you should know about the schedule that @sophie has.
Up5The negative sign is basically used to indicate cash inflow and outflow. Don’t worry too much about it in FV except when calculating the rate. If I remember correctly the sign matters then. I think the reason is you are entering a negative in your calculator already. This is why the answer is coming out as a positive. I think what Schweser is trying to say is to spread out an outflow over 5 years which is why they are showing the negative sign in the answer. Did you check the errata sheet by any chance?
Up5@vincentt‌
formula for % change in price is:= {[-duration * (y)] + [convexity * ( y)^2]} like i mentioned earlier i have serious issues so i went back to 2013 book 5 and checked. the formula has changed. it is now -duration(change in YTM) + 0.5(annual convexity){(change in YTM)^2} the question is just copied and pasted without considering the change in the formula so it is an error i am assuming.
Up5This is very cool, funny and really awesome. My brain is slightly fried from all the studying so I am out of other adjectives. Lol but this is really funny especially ‘a little coffee and you can do it all night’. Lmao.
Up5this is not doing anything to reassure me at all. Man I did not need more things to worry about. And I am not going to. Let’s just concentrate on doing as many questions as possible and leave the rest to fate.
Up5@MockTurtle‌ yeah I don’t know what the problem is. Since it’s working at least on one device, I am happy about that. Don’t have the time to wonder why it won’t work elsewhere. And good luck for the exam hey 🙂
Up5@Pranav‌ so I did say I would tell you if I came across something. There is question 7 in Reading 40 Pg 185 Book 4 of CFAI. Maybe I missed it or something, but I have only seen theory about short term borrowings like commercial paper. This question actually has formulas to calculate the cost of credit. It might not be important but just look it at once in any case.
Up5@Titan33‌ there are no time limits per section. You need to time yourself so that you don’t run out of time during the exam. As such I think it is recommended to spend 1.5 mins per questions only. Now obviously (and very very hopefully) there are going to be questions you are going to be able to answer more quickly, so just pace yourself and I think (and hope again) that we are all going to be fine.
Up5@ralu14‌ @Pranav‌ yeah they are. Schweser relies way too much on calculations which makes you lose your mind and you end up forgetting way too much of the theory which frankly is equally a part of the exam. The only thing left to do now is to try and do as many of the exams on the CFAI site. Maybe doing another set of questions is what could make us pass (fingers crossed).
Up4well maybe he went back for it later. I did the same thing once during my ACCA financial reporting exam. U cant imagine NOT having a calculator in that exam. U have consolidation, IFRS n other things. I actually forgot to take my calculator inside the hall. I only realised that after the exam started. So i had to run back and get my calculator from my bag while everyone else had started the paper. So maybe it was something like that. Seriously exam days can be pretty weird!
Up4@mitch895 the sad truth is with the rut the economy is in, people and that totally includes me btw, are looking for and desperate for jobs. And lo and behold, that’s where evil bosses and owners come in. Man it’s everywhere. People always have to take advantage of another person’s mishap or misfortune or disadvantage.
I did sit the exam but considering how crappy I feel the paper was, I don’t think it’s going anywhere just like the million other applications I made to other places. But thanks a lot for your advice @mitch895. I honestly appreciate it 🙂
