^ Yeah, pretty much. Can’t stand people that won’t just take personal responsibility.
OP: You were below the curve. Many people, studying from CFAI books only, passed. Try harder and be above the curve. Or leave the program. It won’t miss you.
Don’t blame CFAI. Blame Obama.
Ummm… yes, they are:
"All questions and problems in the readings as well as their solutions (which are provided directly following the problems) are part of the curriculum and are required material for the exam. When appropriate, we have included problems within and after the readings to demonstrate practical application and reinforce your understanding of the concepts presented. The questions and problems are designed to help you learn these concepts and may serve as a basis for exam questions. Many of these questions are adapted from past CFA examinations."
(Institute iii)
Institute, CFA. 2015 CFA Level III Volume 2 Behavioral Finance, Individual Investors, and Institutional Investors. Wiley Global Finance, 2014-07-14. VitalBook file.
LOLS that makes my day
OP is a complete clown
I’m not going to complain about it because if you studied and practiced you would know what types of questions they are going to ask, but the original poster has somewhat of a point specifically within FRA where they don’t say calculate in any of the LOSs but what are you doing in the questions … calculating. I don’t understand why they don’t update those ones specifically, but with that said if you put in your 300 hours and still didn’t know that they would make you do those calculations you most likely have a literacy problem
OP deserves to fail.
If in real life if Op’sboss asks him to “calculate” something which was mentioned as “explain” in CFAI LOS…then perhaps he will not “calculate” and resign from his job since CFAI LOS never asked him to “calculate” .
Those EOC item sets were actually old past exam questions… and for your information those BB teaches you how to know the concept, and in which way you expect CFAI would test you in this relevant question…
Those LOS command words are just indicative what actually they want you to know from given material… and if they didn’t ask a calculation in a specific LOS and they had brought it up in BB then do the CALCULATION !!!
Its not rocket science, sometimes readings can be vague with no questions at all and EOCs like Hedge Fund reading in the past L2… Those PM readings you mentioned with no questions at all, i simply agree with you, sometimes they love to throw you a questions from nowhere, at least SCHWESER had them, you should’ve looked for questions, problems for READINGS WITH NO QUESTION!!.. ( I assume they are new readings, and CFAI love to test on new readings)…
Anyways… Take a break for a few months… you were too close… give it a shot this year
All the best
If you read my first post line 3 I said in my opinion (IMO) all bb and eoc are not testable… What I did below was to elaborate my opinion (the part you quoted). and I never said exam questions were out of curriculum. My first post last line I said CFAI ask questions freely (any part of curriculum) but the problem is when they do so questions would deviate from LOS. I would be agree with this statement “Exam Questions were from Curriculum” but I would disagree with this “Exam questions were according to LOS”
I would like to thanks @ Would You Look @ BobbyBraveheart @ Rogue Trader for some constructive discussion. You all had the option to redicule and mock but you tried to convince me with some logical points.
I gonna rephrase all my discussion and restate my problem because i feel I couldnt convey my points.
Here is the official LOS definition
What is a Learning Outcome Statement?
Learning Outcome Statements (LOS) are descriptions of specific knowledge, skills, and abilities that you should be able to apply after you complete a reading. The statements use command words such as “demonstrate,” “formulate,” or “evaluate” to indicate how much you should know about a given topic.
http://www.cfainstitute.org/programs/cfaprogram/courseofstudy/Pages/study_sessions.aspx
This definition clearly indicates the role of LOS. “How much we should know about a given topic”
this is actual LOS from READING 15. ECONOMIC GROWTH AND THE INVESTMENT DECISION
i compare classical growth theory, neoclassical growth theory, and endogenous growth theory
Please read LOS command words
http://www.cfainstitute.org/programs/Documents/cfa_and_cipm_los_command_words.pdf
Compare means to note similarities and differences of two or more things.
Curriculum is full of derivation and equations of those three growth theories whereas LOS requirement can be fullfilled by just reading the last paragraph of growth theories section or the summary of the reading.
Now Hypothetically speaking
If exam question comes to calculate GDP growth rate using neoclassical growth model then that question would be according to curriculum
but that question would deviate from LOS because LOs doesn’t require us to go in that much detail.
If exam questions are to be made according to curriculum then L2 exam would be ok and this whole discussion would a c**p
but if exam questions are to be made as per LOS then i feel there is a problem. its not possible then both curriculum and LOS are be satisfied together. Its only possible when LOS and curriculum are same which is certainly not the case.
I agree with cfasucker. Maybe I am wrong, but after reading this and similar topics only one thing is sure: if you realy want to pass L2 you should master non-CFAI material, like schweser or elan. This should not be the case.
Don’t be naive. How can you even think that EOC and BB is not testable?
The EOC comprises of nearly 25% of the entire CFAI curriculum!
We all know CFAI isn’t going to spend that kind of printing paper to aid your understanding when it’s not even testable!
This is a load of horse s**t. Learn the material and know it better than 60% of candidates or fail. Simple as that.
But you also can’t overlook the CFAI material, if you focused on mastering schweser or elan you wouldn’t have done any better on alt investments last year and would have probably done poorly on a couple other areas as well. I think in the end everyone will only have so much time to study and you need to use a bit of common sense - if CFAI has lots of questions on a topic do those questions, if they have zero practice questions then look to schweser or elan. Mapping out a solid study plan is half the battle in my opinion. If you can learn the core material before Xmas and then spend the time after Xmas doing practice questions you will be in great shape.
@Bobby: yes it should be CFAI only, not CFAI + other providers for L2 material? It seems that other providers create questions for the exam, not CFAI and this create the chaos? Y So that is why you should use material from other provider, which is not ok for me.
So you believe this definition of an LOS (because CFA Institute wrote it), but you don’t believe this:
“All questions and problems in the readings as well as their solutions (which are provided directly following the problems) are part of the curriculum and are required material for the exam.”
(which CFA Institute also wrote).
Yes, there appears to be an inconsistency. You’ve chosen to believe the narrower definition of what you need to know, others have chosen to believe the broader definition of what you need to know.
Their belief seems more prudent.
CFAI material is the way to go.
BOOM. Case closed.
Waaaaahhhh I wasn’t in the 46% that pass L2, I’m going to go on AF and rant about CFAI being an unfair, evil organization that lies and cheats its candidates.