Level I

FFO

Can someone write simple equation for FFO?

I’m flicking between FRA and Fixed Income (it appears in both books) trying to reconcile the definitions but I’m going round in circles.

FRA book:  net income adjusted for non-cash items

Fixed Income book:  net income from continuing operations plus depreciation, amortization, deferred income taxes, and other non-cash items

What are ‘non-cash items’ apart from depreciation and amortization? Deferred income counts as a non-cash item? Continue reading

How to correctly cite CFA candidacy on CV

1. How can i successfuly identify in my CV without violating the Code of my candidacy in the CFA December Level 1 exam. Is this correct?:

*CANDIDATE ON THE CFA LEVEL 1 EXAM

2. It is wrong or right is i include it in my Cv after passing the level 1 exam that:

*SUCCESSFULLY PASSED CFA LEVEL 1 EXAM

*CANDIDATE ON THE CFA LEVEL 2 EXAM

Are these above statements correct? Continue reading

Qbank from Schweser

Hi Guys

Is qbank from Schweser essential for L1? Did anyone pass without schweser Qbank?

The CFA pgm has online practice tests, would that and mock exams not be sufficient to passing? Do we have to get the qbank? the qbank itself  works out about 1/3 of what I paid for the cfa programme in total ( After conversion rates)

please advise

Continue reading

What was Level I estimated MPS?

This was my score matrix (I passed):

50 or Under:

Alt invest, F.I., Derivatives

51 to 70

CF, FRA, PM, Quant, Econ

71 to 100

Equity, Ethics

I believe my Min, Max and 40/60/80 was:    min: 45.8%, 40/60/80: 61%, max: 73.5%

Pretty high standard deviation Continue reading

Under Valued and Over Valued Stocks

I am not able to see how to you know if a stock is under valued or over valued based on SML, beta or required return.

For example, in one question it says a stocks Forecasted return is 12% and Required Return calculated using CAPM is 15 %. So the stock is over valued and plots below SML.

Could someone please explain why it is over valued? Continue reading

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