To answer your question though, if you failed L3 Feb 2023,…Read more

We do receive a lot of emails daily, and we are a…Read more

Here’s the explanation and workings, hope this helps!

Total expected return = Rolling yield ± E(Change in price based on investor’s benchmark yield view) ± E(Change in price due to invest…Read more

What’s your existing position and career goals?

CFA Institute’s wording is not very clear, so I don’t blame you for the confusion!

So to clear up that confusion:

1. Yes, you can register for Nov21 after failing May21 exam. This is correct.
2. If you failed Nov21 exams, you can register for May22 attempt.

We believe CFA Institute’s…Read more

FMVA itself is a pretty involved course, requiring 120-200 hours on average. Personally I would approach them separately, in order not to confuse…Read more

Oh, and our free CFA study planner is already updated with 2022 topics! Hope this helps with study planning 🙂

1. at least 4,000 hours of relevant work experience, completed in a minimum of 3 years. These can be accrued from any previous or current position, and do not have to be continuous.
2. relevant work experience hours…

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As for your original question, I don’t think it’s advisable to try and pass CFA L1 in 3 months off the back of your FRM knowledge.

We recommend 6 months preparation, and even if you assume a pure 40% overlap, that’s 3.5…Read more

Our free study plan (generate one here) will be able to calculate all this stuff automatically for you,…Read more

As far as lobbying CFA Institute for changes, perhaps in time we can figure out a process to help candidates in that respect as well.

Hope things…Read more

The 2022 CFA Level 2 curriculum should also be released soon when Level 2 Feb-2022 registration opens, likely in May 2021.

All things considered I would advise waiting for registration to open and start your studies when you’ve r…Read more

Analyze

• Definition: to examine the constituent parts of something and how the parts relate to each other and to the whole
• Explanation: Analyze asks you to be able to take apart something for study (e.g., a financial statement or an investment strategy) in order to understand the whole in full…

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We have a guide to CFA scholarship application here: CFA Scholarships: How to Successfully Get Them

I think going forward the expectation is that there will be just one mock exam – the CFA Institute website states “mock exam” rather than “mock exams”:

The 2022 CFA Level 2 curriculum should also be released soon when Level 2 Feb-2022 registration opens, likely in May…Read more

They would then verify to CFA Institute that what I’m saying is true.

This would have changed slightly with…Read more

• Ethics is not like random compliance training where the answer is obvious. It’s not.
• It’s important to make sure you do well in Ethics – it’s a substantial part of the exam and is present at every level
• Ethics adjustment means it can literally mean the difference between you passing or failing

Our guide can help you get…Read more

• Long callable bond: When interest rates drop, the bond holder (you) loses out. The bond issuer calls back the bond and reissues at lower interest rates.
• Long option-free bond + short receiver swaption – when interest rates drop:
  • Long option-free bond: rises in price, so the bond…

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Reversals of impairment losses on equity investments classified as AFS are not reversed through the consolidated statement of income; increases in their fair value after impairment are recognized in other comprehensive income.

This one?

Do check out our CFA scholarship article for a good overview and tips for successful scholarship application from a previous candidate.

To answer your questions:

1. It depends. For Access scholarship (expected to open mid April, which means anytime real soon), CFA Institute previously took 3…

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For example, Access scholarship for this year is closed last December, and is expected to open this month for next year’s exam applications.

However, all other scholarship types are on a rolling basis (you can apply all year…Read more

I’m not on LinkedIn but some of the others are – you can search for them.

If you have any questions including career ones, feel free to start a new topic!

• Start date: How many months before exam day did you start? Do you need to start earlier?
• Total study effort: Roughly how much time did you spend studying (in hours)
• Study quality: Are you being distracted by your environment, people,…

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Reasons:

• Yes, you want to start with a good impression at your job, but a good point raised that you’re also likely to have more time at the start of your job.
• If you fail Feb-22 you can still make Aug-22. I…

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For US GAAP, reversals of impairments are allowed for assets held for sale, which is what the Deutsche Bank case study is covering. I couldn’t find anything that specifically details goodwill impairment in the case study.

A convertible bond is a bond that has an option to convert to a specified number of shares of common stock at a pre-defined conversion date.

The conversion ratio = the number of shares each bond has the option to convert to.

The bond has a par value, so the implied price per converted share is the co…Read more

This might help (source: Chegg)

In addition to the examples above, you can also have a two-tailed p-value like below (source)

• 5 months is not impossible but for me personally, a little risky. I would ideally shoot for a Aug start at least.
• “People failed twice after 8 months study” etc is anecdotal data so not particular useful for reference.…

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It refers to an autoregressive equation in which the variance of the error terms (residuals) is heteroskedastic. In other words, when the error variance is not constant.

To…Read more