I was told my some people that the real exam is more qualitative than quantitative, at least compared to the mock exams that Stalla/Schweser gives. I was wondering if this is true. If you guys have experience with the exam, can you give some input on this? And if this is true, do you guys think that spending time understanding the key core concepts would be time better spent than actually doing some of the tedious calculations? For example, my time would be better spent learning how each of the greeks affect option pricing than actually remembering the Black-Scholes formula and completing a long calculation question. Of course, I’m not saying I’m going totally skip over the calculations. I’m just trying to find out how to best utilize my remaining 49 days. Thanks in advance for your input.
good point i noticed L1 was more qualitiative than quantitative what about L2?
Yes its more qualitative than the practice exams, however, don’t discount your understanding of the calculations helping you on the more qualitative sections…
level 2 was very qualitative IMO. There were obviously calculations, and plenty of them, but that was just the starting point. From here you have to understand what it all means. And I am not talking about broad concepts, but details that test your understanding. With that said, most of the calculations were not too terribly long. My suggestion: Have a great understanding of primary formulas and concepts behind them. Have a good understanding of secondary formulas, but don’t spend too much time on these.
P.R.A.C.T.I.C.E - Q.U.E.S.T.I.O.N.S --> till the nose bleeds