TimBCanada

TimBCanada

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      I would say I don’t really know what to do with my time, but not that I’m sad 😉

      I’m going to learn to play guitar, go zip-lining etc. Have already played golf and paintball since the test. Tennis tomorrow. This is the best!!

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      Mine expired before my exam but after I signed up. I made sure to update it with their process once it was renewed, and well before the exam date. Worked out fine. If you can’t get it before they print out the exam tickets then it’ll be too late I would think. @jprker above is correct

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      I skipped a year before writing level 2. Might be a nice idea to read through the secret sauce for the previous level but if you’re at all pressed for time I would just skip it. Most prep providers will give you a bit of a refresher if there’s something that carried over from the previous level too (schweser videos for example).

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      sidharth said:
      PS I am working 12 hours a day.

      I think we’ve figured out why you have that as your display picture haha

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      You’re done the toughest section (FRA); you can project forward your time knowing that with Quant, FRA and Econ you’re done 42% (http://www.cfainstitute.org/programs/cfaprogram/exams/Pages/exam_topic_area_weights.aspx) so far. Try to leave 3-4 weeks for review and decide if you need to speed up or not. Know that you’ll likely need to increase your avg study time/day as you go forward to accommodate reviewing past topics so that you aren’t forgetting everything.

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      I’m seeing a lot of “if NPV < cost, this is bad” – that should really be “if NPV < 0”. Cost is already removed in the NPV equation, so saying NPV < cost just means you’re not doubling your money when taking TVM into account.

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      As others have said, flash cards are great. I’ve used them for levels 1 and 2 so far. The downside is the time investment. If you were writing in Dec and just getting started, you don’t have time. If you’re writing in June and asking the right questions now, you’ve got loads of time. You have the option to just make flash cards for formulas, which wouldn’t take as long as including definitions etc in your flash cards.

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      Because you are – effectively – buying only the print version. There is a marginal cost of pretty much zero for the eBook, so they offer it ‘for free’. 

      I’m sure they have some sort of deal with VitalSource technologies. Also, they have years of information seeing how many people picked print vs online so they must have figured it was worth it with the deal they worked out to provide everyone with the online version for exams 2014-on.

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      @sbjr You only pay the 1st-time enrollment fee once for the entire program. So you’re all clear and it’ll just be the exam fee going forward to CFAI

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      Status update: 11am EST. No level 2 result. Starting to freak out

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      10:21am EST and no result yet for level 2…

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      You have some impressively broad experience with computer engineering, banking, sales. I’m not sure where you want your career to go from here but people in your industry will certainly know about the CFA and understand the effort you put in to get it

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      Flash cards work great as well, and although they take a long time to make they are very valuable come review time

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      Good experience with Kaplan for 2 years. Believe they are the most widely used. Haven’t used Analyst Success so can’t comment

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      I’m one of the few who spent the time to make literally a few thousand flash cards. Flash cards take longer to make but they’re extremely useful for reviewing in the final month. They’re good for reviewing as you’re still learning material as well – the last thing you want is to finish all the material and not remember the first bunch of topics you saw

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      The end-of-chapter questions from the actual CFAI books are very useful. Beyond practicing with those and CFAI’s mock exam(s) I would definitely just recommend using Kaplan Schweser’s study notes. You may miss a tiny obscure detail here and there but you’ll really be able to spend your time focusing on the most important stuff. For level 1 you can find a decent amount of free stuff available from a variety of prep providers who will want you to pay for their materials for the next levels. I’d recommend surfing around and seeing what is available for free for level 1 as well.

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      Good points @edulima. Schweser refers to OAS as “option-removed spread” which is a helpful way of thinking about it. It allows an apples-to-apples comparison for bonds once their options are taken out of the equation so that you can focus just on liquidity and credit risk to figure out of it is over or underpriced (knowing higher rates = lower prices)

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      Agree with @vincentt; advanced math certainly not necessary but an understanding of general financial accounting concepts would be useful (otherwise expect to spend a bit more time studying areas like financial reporting & analysis)

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      Level II: Like several others above I did 6 mocks exams in preparation and was surprised at the weight some areas were given vs other areas on a test with only 120 questions. I also found the afternoon slightly more difficult in general, despite being more awake. Cautiously optimistic for August results. @ynag12 60 days until results

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      I think the CFA curriculum probably uses theirs so that you can clearly see how the two parts (the beginning book value, and the RI) are separate. Otherwise maybe people would use the 1st formula and then add BVo while your formula does not require that addition. Also, (ROE-r)BV is the formula for RI, so it is easy to remember that way that the 2nd part of the equation is just RI/(r-g)

      Just be careful not to get all of those mixed up with the formula for justified BV = (ROE-g)/(r-g)… They all start to melt together when they are similar.

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