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Hi @lucho37 , the question asks what is the maximum loss Jim can experience, so B is correct given the $55 limit buy.

In the theoretical case you had mentioned, yes stop will be activated, but given the $55 limit, there will be no buys executed. When there are no purchases of stock executed at above $55, there are no losses realised.

Does this make sense?

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That’s totally fine @Damodougan. Quite a lot of candidates do that. The common advice is actually harness the best out of both sources: the curriculum is pretty good for End of Chapter questions and Ethics chapter examples, whilst 3rd party materials provide good summary that cuts through the lengthy CFAI curriculum.

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Thanks for the sharing the story @genetemp – I get that it’s hard to tell, but good to know it seems to be an extra oomph to the CV for most candidates/charterholders. Some motivation has returned…  😀

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Thanks jenova! 

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Yes it does @Sophie, much much appreciated!

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Fingers crossed for all of us here! Hoping to be an L2 candidate (and not L1 Dec candidate OMG) next week too!

Just to distract my mind until 6th Aug, were you all up to anything interesting in the post exam months?

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Practice! Try the end of chapter questions after reading the notes, and that’ll clearly show whether you grasped the concept at this stage or not. These are the easier questions usually, and later you can definitely try a few from the question banks.

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Hi Arthur, given COVID-19, CFA Institute has stated that all exams administered in 2020 and 2021 will be based on the current 2020 curriculum.

So my understanding is that Schweser books should stay the same and remain relevant in 2020 for 2021 exam cycles. Hope this helps!

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No worries Arthur, best of luck for L1!

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@ashjindal99 – there are no additional fees to defer now. Just sign in your CFA account to withdraw from Dec20 exam and reregister for Feb L1

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I too am in GIPS sh*t  :disappointed: I’ve chosen to skip GIPS for now, risky move I know, and sorry not much help here.

Trying to cover as much ground as I can as the practice papers are scaring me… I figured I’d probably get 1-2 questions on GIPS which I can sacrifice or have some sort of educated guess, vs. mastering those calculation based questions and getting them right. 

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Hey mincemeat123, that seems like an upward trending score so it’s good.

I’ve done 4 mocks so far as well, and they are 45%, 52%, 60%, 55%.  :/ 

My weak areas are Quant, Equities and FRA

Still got some way to go. Taking time off beforehand for last minute cram, hoping to breach 65% consistently

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This made me laugh 😀  to be fair, if that option was really available i’m not sure if i can pass either!

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Yes, I guess you just have to back out r like any calculator…

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Thanks @edg94, why do you think it matters to your clients?

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Oh wow nice. Will PM you to find out more if that’s OK?

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No worries, glad it helped a little. It’s probably a speed thing for Step 1 and 2, hopefully you’ll get there after loads of practice! But agree it seems quite a lot of steps for the amount of time you have each question…

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I’ve not used Bbg prep myself. But I don’t fully follow your question.

Doesn’t Bbg provide a guidance/study plan in their app itself? Shouldn’t it cover all the LOS by definition if they are a good prep provider?

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Yes your experience is super relevant Christ, no worries! CFA Institute it states “Your experience should involve evaluating or applying financial, economic, and/or statistical data as part of the investment decision-making process; supervising those who conduct; or teaching such activities.”

You are helping with the investment decision-making process, even indirectly. So that definitely is relevant and counts! Plus a major % of CFA charterholders are in research anyway, so that’s another data point.

Which firm you work in shouldn’t matter.

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Hi @stshriya , impressed with your determination – I’m a L2 candidate too (postponed to Dec). So had to stop and start studying again, same boat in a way! When are you planning to take Level 2?

I’d say so far the Level 2 material is quite a step up vs Level 1 in terms of sheer volume and crap to remember, so starting early helps (say 7-8 months before if you can, ramping up gradually). Consistency is important, I found it took a while to get back to being disciplined and dedicating a few hours each day to study, once I’ve taken some time off.

Finally, I’ve found these resources/articles helpful for my L2 prep:

CFA Level 2: How To Prepare & Pass CFA In 18 MonthsCFA Level 2 – The 10 Commandments

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