Hello all…i recently failed Level 1…I wasnt prepared for the exams as my wife has a miscarriage and i was devastated…Now im all geared up for the June17 exam. I would like to seek your opinion on Quants as this topic is not entering my head for god knows why…Im planning to skip the entire topic…My questions are:
a)Are quants really important for your career? im currently working in an insurance company and managing our bonds portfolio and i dont see quants helping me in any way…correct me if wrong
Most of the Quant information carries over into different sections and also Level 2. I wouldn’t advise skipping it. YouTube Mark Meldrum; his videos are a really great way to comprehend the information.
Also, pricing bonds is linked to the topics in Quant, specifically PV functions.
I’m sorry for your loss. In the grand scheme of things, you and your wife are far more important than CFA exams.
a) I really do not recommend skipping the quant section. I noticed PV and stats concepts pop up throughout the readings, not just in the quant section. Plus, you have to deal with the actuaries, no?
b) Maybe try Khan Academy videos, get your hands on a college level introductory stats book or even a business math text. Find one of the actuaries at your company who is a good communicator (there are some out there!!! ) and ask for some help: we actuaries get compound interest math and stats up the whazoo in our exam system.
So sorry for your story. Hope you can move on from the devastation soon.
I totally agree on the recommendation of Mark Meldrum’s videos. He divided each section separately, you can just focus on quants part in his albums if you want a quick glance of the basic quants.
From my understanding, quants are just tools for further calculations in other sections. I wouldn’t suggest you to simply skip it.
I believe you have already know all the calculations of bonds, given your current position. However, remember there are other instruments in the financial markets as well. So, better be prepared than not.
This will enable you to worry less about the overall topic area and focus more on your ability to answer narrowly focused exam questions. Many times candidates fear lack of thorough understanding. Remember, you will be asked 90 seconds question (mostly) and no essay writing or grand connections of concepts is necessary. After writing a list of 400+ items (Quants only) you will worry less about 5-10 odd items you are unable to handle.
I am sorry to hear about your loss. I have been in similar situation before.
Remember that: Every adversity, every failure, every heartache carries with it the seed of an equal or greater benefit. Napoleon Hill
Quant has a weightage of 12% for CFA Level 1 exam. Not only that, The "Time Value of Money"and “Discounted Cash Flow” Concepts in Quant also helps in other topics like Fixed Income, Derivatives, Equity
I loved “Mark Meldrum’s Videos” for CFA Level 1 exam on You Tube. They will help you.
) and ask for some help: we actuaries get compound interest math and stats up the whazoo in our exam system.