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Level III

Topic Tests Won't All Have 6 Problems Anymore?!?!?!?

Anyone else see the email this morning from the CFA stating problem sets may have more or less than 6 problems each?  The total number of MC questions will be the same.  It’s a little bit of a curve ball but I wish they had decided this earlier so prep providers could have made the right kind of practice exams.  Also, I think all of the CFAI topic tests have 6 questions too, which isn’t the right preparation.

I think this is a way for the CFA to squeeze in more topics rather than have one off questions within other vignettes.  Thoughts?

CFA 2016 mock exam Question 6C

When it says “including” first home proceeds they need 3000000 in 10 years then why should we deduct future value of first home from that ( it is already mentioned that 3000000 includes that) . Please clarify.

How much granularity in AM answers

Is the below answer the level of detail that the CFAI is looking for in the AM answers? The below answer describes how a covered call works in a yield enhancement strategy. I mean, is the assumption that the candidate knows absolutely nothing and f.ex if he doesn’t explain what happens if stock price finishes above strike, the grader assumes that he doesn’t know ? 


CFAI Practice Question on Private Wealth Management Q3

Hi all, I am starting go through the CFAI questions and hit a hard rock.

Can anybody please explain to me how to use FVAADV in the below answer. Looked it up on the CFAI book, still don’t seem to grasp what they are using.

Thank you so much for your help.


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