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Correction: of course, ROE>1 is less improbable than ROA>1, but it doesn’t change the point.

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Strictly speaking, it is not always true. If your ratio>1 (which is rare, but theoretically possible), then it will go up. e.g. E=300, A=200, ROA=1.5.
If you write down 100 worth of assets, new ROA is 200/100=2.0. Same for equity, although ROE>1 is even more improbable.

For the purposes of the exam, “most likely” these ratios will go down.

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After trying a total of 7 mocks in the past 3 weeks, my distribution of 14 half-mock scores looked completely flat between 60 and 80 percent. Had I tried a couple more, my score timeseries would be used for an exercise to show zero linear coefficient with respect to time and absence of either of heteroscedasticity, serial correlation or mean reversion. So I had not much confidence going in.

The test turned out definitely easier than most Schweser mocks and the notorious CFAI one. Part of it may be that CFAI exam writers were more careful with their writing of the real exam, the language was much clearer, easer to read and thus looked less intimidating. For me specifically, another plus is that some of my weaker topics barely showed up.

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