Level I

What can I bring to the exam?

I’ll be bringing two calculators, pencils, passport, and exam ticket.

Are we allowed to bring our phones, wallet, tissues, etc….? I’ll be traveling by public transportation to the exam center and was wondering if it’s okay to bring anything else? 

June 2015 L1 Preparation Methods

Hey Guys,

Am planning to give L1 in June 2015. Need some tips on how to go about it.

Thinking of going through some decent online video lectures to get my concepts clarified. Any ideas where do i start from?

Repo rate vs. Repo Margin

Factually (ie. definitions) I understand the difference fine.  Conceptually, given the relationships or drivers of each, I’m struggling.

Repo Margin: the difference between market value of collateral security and the value of the loan.

Can I access the exam (so surious)

I have big problem now for the CFA exam on this saturday

I have no passport (now and before), when registration I used the number of ID card, so can I go to exam? If not. please tell me how to solve this problem. Y-Y

many thank

BA II Plus Pro - Changing Batteries, revert to Default Settings?

Has anyone changed their batteries in a BA II Plus/Pro?  I’m going to bring a spare battery just incase, but was wondering if the settings default to stock settings when you change the battery.  

For example, the P/Y setting is set to 12 I believe upon default and the calculator doesn’t calculate using BEDMAS.  I don’t want to reset these setting if I need to change batteries during the exam.

Interest rate call

A long interest rate call and a short interest rate put is an equivalent position to:

A)
a long position in a forward rate agreement.

B)
a pay-fixed interest rate swap.

C)
a short position in a forward rate agreement.

Your answer: C was incorrect. The correct answer was A) a long position in a forward rate agreement. 

I understand why A is correct. But why is B not correct also? The person payng fixed in the interest rate swap gets more if the interest rates go up..

When to discount FRAs/Swaps

Hi, I have seen a variety of questions talking about paying a fixed rate and receiving LIBOR (say, 90 day libor).

In some of them, you discount the payoff by (1+libor *days in libor/360). In others you don’t. Under what conditions do you discount?

Also, am I confusing interest rate swaps and forwards?

Best Definition of Duration

Is it wrong to say that Duration is the weighted average amount of time to recieve the present value of the securities cash flows? 

Or is it better to say that its the price sensitivity of the security to a changes in yield?

Thanks!

Should I take another mock tomorrow?

I have done both the CFA mocks and 1 elan (last wed was that one). Have spent most of my time reviewing, doing EOC’s, etc. I still have the CFA practice assements to do as well as review my previous mock wrong answers. 

Is it better to do that then take another mock tomorrow? Anyone have thoughts on that? I’ve thought about justt looking at the other two mocks I have and seeing answers, etc instead of doing due to time constraints. 

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