What a sh1t show.
Was a bit shocked to find out that you can earn most points already with the “individual” part (Q3 in the AM part) by just writing down the formula. This is something i still need to focus on (since i didnt learn any of those formulas, but are able to apply them), just as correctly writing an IPS!
And it was scary that you have to have the “above average / below average” in the AM section correct to have your explanation scored. Especially because this is mostly guessing and you can have decent reasons for making that guess.
Have to say that during the exam I was maybe too relaxed; no hard questions at all and done with AM in 135 minutes and with PM in 105 minutes. But giving the correct answer format is still tricky (hence; my score of just 54% in the morning part).
Two more weeks of studying to do!
The results motivated me to pick it up again (since i was feeling too confident and was getting lazy).
Just finished AM and got CRUSHED with a 58%
Left the last question blank and had no clue on the currency problem
“Believe deep down in your heart that you’re destined to do great things.”
And I am clearly writing too much according to the answer key.
based on schweser responses the AM sessions should take about 30 minutes. pretty amazing how short they are.
Was really suprised by how hard it was
sounds like i shouldnt spend time on it
this is online or live? how is AM graded?
How do I find it on my Schweser account? I have paid for it but can’t seem to find the link.
i took the AM section at the location and took the PM section home with me
AM was brutal, only 2-3 questions that I knew completely
I need to read SS4 10,000 more times before the exam
> this is online or live? how is AM graded?
Answer keys are given after finishing the exam.
is it worth taking this? and do they provide detailed answer with reading references
Hope this helps
> is it worth taking this? and do they provide
> detailed answer with reading references
I think it was worth it (did the live version today) because i learnt a lot.
You will get an answer sheet for the open questions with explanation how to calculate your score (2 points if you mention this, 3 if you calculate that right).
The MC part you can enter online afterwards and you get an explanation also online (similar to QBank).
$49 for mock?
83% on AM session. Core capital killed me otherwise it would have been a lot better.
I am still not 100% with the terminology on that question and if it is even correct. They gave the desired real spending amount. So the discount should have been at the full nominal rate. Increase at 1.03 for inflation divide by 1.05 or 1.03/1.05 ~.981 real discount rate. They multiplied by inflation and still divided by the real risk free rate of 1.02. I really need to reread that portion. It is on every Schweser mock and the way they write it is completely different to the book.
Can someone please compare difficulty to CFAI samples and CFAI mock? Thanks
> Can someone please compare difficulty to CFAI
> samples and CFAI mock? Thanks
Very similar. The return requirement in the first problem was significantly more difficult and time consuming than in the CFA Exams I have taken so far. 2004, 2007-2009.
I was very impressed with that question it was very intuitive to being able to handle any situation on the exam. Also, it provided very little guidance which I think is similar to how CFA institute would do it. Time for me was only 1:15, sure would be nice if we could use computers on the exam…
Any comparison to BSAS? I just completed that one today.
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Would have killed AM if it weren’t for losing 36 points between Questions 3 and 4.
On a side note, I disagree with some of Schweser’s ethical answers… like how changing benchmarks from S&P500 to something else violates loyalty. The vignette said it used the S&P500 for all it’s portfolios - not that it required it. BLAH
Wow 80% on PM. And I literally got 1 out of 6 on first ethics and 3/6 on second ethics.
I am totally screwed on Schweser Ethics and CFA Ethics stuff always goes fine. 5/6 on sample exam for CFA.
I don’t get it whatsoever.
I need to read the asset managers code once again though, that is for sure.
On a side note doesn’t asset managers code now say that you must provide monthly statements and the first example said they were providing quarterly statements.
“The Asset Manager Code Recommendations and Guidance (C 1) states that managers may not act on material nonpublic information, and that client holdings or pending trades should often be considered material nonpublic information. A sale of a large number of shares in a particular small industry is likely to decrease the price of other firms in the same industry as well. While the type of trading (cross front-running) that Schmidt has engaged in is difficult to detect, it is a misuse of material nonpublic information.”
I hate you Schweser Ethics! That is incredibly subjective.
Managers must provide regular, ongoing performance reporting.
Managers should report to clients at least quarterly, and when possible, such
reporting should be provided within 30 days after the end of the quarter.
AM: 67 (Well, 66.6)
I got a nice 3/21 on the tax question.
Also, I think I have yet to get a correct required return question. I seem to always misinterpret any after/pre tax assumption when nothing is mentioned.
And on 8a, aren’t we supposed to adjust for the contract’s Beta?
I haven’t checked over the PM, but I’ll probably be back to complain about something there.
How long did it take to complete the exam? Trying to figure out when to take this.
It took me 2 1/2 hours for each AM & PM… but I’m a slow exam writer. But you might want to block off the whole time if you can… just to mimic the exam.
AM: 81% - Time: 2hrs first pass. Used up another 50min to check answers.
PM: 78% - Time: 2hrs, 10min - including double-check over answers.
Not sure what to make of the return calc in the first problem. I had everything right except for my final port value, which was only off by $5million. This is because I wasn’t sure whether we should back out the charity payment from the portfolio or whether it should be paid off with income… I chose to back it out since the charity payment was in less than 3 months. So my port return for the first year was 295, instead of 300 (6000-100)*.05=295.
There were a few other sloppy questions IMO on schwesers part, but I expected that since last year’s LII mock was the same way. I would’ve saved more time if they had indicated whether we need to justify on the “agree/yes/accept, etc…” Not clear at all on those and I remember CFAI’s indicating when you needed to and didn’t need to.
Would’ve gotten a 86% had I not messed up the core cap. question and remember to divide by the real RFR. I did some other stupid calculation with inflation.
I actually thought this was pretty tough. I felt I had to make a lot of educated guesses. The only weak spot was the behavioral finance section (never heard of self-attribution bias, I also thought the MF pick was optimal since she is young and should be in higher beta investments). On the other sections, I just missed one or two here or there; no glaring weaknesses though.
Ok. Time for a brew.
Butchered by Everything in AM, and Ethics in PM. Those were the toughest ethics questions I’ve ever seen and SERIOUSLY!!! AM Q.1 PART A WAS NOT A 9 MINUTE PROBLEM!!!!!!!
Well worth the 50 bucks though. Really glad I saw some difficult ethics, and required return problems. I know what I need to work on for the next two weeks.
Ok. Time for a Goose
Band 10 – It’s the only phrase that can literally bring me to the brink of explosive projectile vomit
77% afternoon, will grade morning later.
I missed 5/6 of the ethics questions 2nd item set. Wow. Looks like i’m not the only one though, Schweser ethics questions always suck.
One question for everyone: Do answers have to be incomplet sentences, or are bullet points fine? Complete sentences take much more time.
Glad other people thought the ethics were ridiculous too.
I am kinda annoyed that the afternoon doesn’t have descriptive answers like the morning. I feel like i got taken. You want descriptions? $100 more please.
Based on their advertising i thought the online thing was just a more detailed walk-through of all the concepts, not the actual answer summaries that are provided in every single other schweser test i’ve had so far.
do you get to keep the exam or is it more lijke the cfai sample exams
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