So I did the 2009 essay exam after done with practice exams book 6 and 7. Feel not too bad, I mean, I was scared a little about the difference between notes and real exam, but as far as I can see, it doesn’t make too much difference, and imo the 2009 exam essay is relatively easier than book 6 and 7. I first time graded myself for essay part and got 74%, I averagely graded myself, even a little more harsh, I would say should be over 70%. My goal for essay is if it can over 70%, I have great confidence to pass; even it is lower, afternoon may play some catch up.
Few questions were straight forward. WACC calculation, implied assets and credit risks were tough as far as I am concerned. Individual IPS was kinda tough too but I think I scored around 65-70%. I hope this year exam is close to this one. 2007 and 2008 are harder than 2009
I thought a question was either kinda easy or really hard. For the latter, it was usually because I didn’t remember the concept at all (like all of question 4 about pension plans and WACC…HAD NO CLUE). I graded myself harshly and got a 64.5%. That was last Sunday. I actually thought the IPS questions were on the easy side. Any one else think that? Are most of them at about the same level of difficulty. I’ve only done one practice exam.
DC Zanini Wrote: ------------------------------------------------------- > I thought a question was either kinda easy or > really hard. For the latter, it was usually > because I didn’t remember the concept at all (like > all of question 4 about pension plans and > WACC…HAD NO CLUE). I graded myself harshly and > got a 64.5%. That was last Sunday. > > I actually thought the IPS questions were on the > easy side. Any one else think that? Are most of > them at about the same level of difficulty. I’ve > only done one practice exam. Agree with everything said here. Took is yesterday and graded myself obnoxiously hard and got about a 65. Also agree that I either got the full question right or almost no credit.
The WACC question was a mood changer in the exam last year. Unfortunately towards the negative.
Yeah, I found the WACC thing very convoluted as well. If I were not making same mistakes already in practices exam, I would likely fall for this. Also I got the implied assets/liablity all wrong as well, another thing I got all wrong is breakdown of GK model, I don’t think that is mentioned in notes.
CFAI has broken down GK Model but yeah I got only nominal one right so 2/6. I got zero in WACC one - 0/11, Credit Risk was also tough, First IPS was confusing with tax related stuff. Made a mistake in calculating return Overall close to 60-63%
Irishgyy Wrote: ------------------------------------------------------- > Yeah, I found the WACC thing very convoluted as > well. If I were not making same mistakes already > in practices exam, I would likely fall for this. > Also I got the implied assets/liablity all wrong > as well, > another thing I got all wrong is breakdown of GK > model, I don’t think that is mentioned in notes. It is, but not in such a way that made you think it might be on the morning session. That being said, I got (gave myself) a 0 on that GK and the WACC sections, and without some stupid errors (trying to write too fast to beat my study partner, not knowing what they wanted with implied assets/liabilities, and not knowing that contrarian was a possible answer on the stock question) I would’ve cleared 70% pretty easily. Probably still would if anyone other than me graded it. A little nervous that 07 and 08 are supposed to be harder, though - hopefully that’s just that candidate’s weak spot and I’ll do even better.
Say, where did you get a hold of the 2009 exams?
Say, where did you get a hold of the 2009 exams from?
^ Skillionaire sent it to me. Ask him
carveturn Wrote: ------------------------------------------------------- > Say, where did you get a hold of the 2009 exams? Very good question, I’m currently looking now…they’re somewhere on the CFAI website, I believe.
Carveturn has just 2 posts and that too asking stuff. Nice contributor mate!
I just found mine through my Google groups.
They are right on the CFAI/toolkit site
I wish CFAI made “searching for stuff on Google and our website” a requirement for receiving your charter. If you are too stupid for either, then no charter for you.
wait thee CFA releases exams?>??? where? ok so i found the 2009 paper to have a nice flow til about q6 (this is from memory)…the WACC i couldnt fig out all in all wasnt a bad exam but had some quesy moments…now the 2007 or was it 2008 exam had a horrible feeling to it going through it was a lot of uncertain moments… again has anyonde noticed the lack of tax related questions?
On Question 9, A i) statement 2: The answer focus on cross default, I kind of thinking dealers. Here is my answer: if the currency swap is through a dealer, the dealer will have credit risk as well. anyone think like me or think I should get the 2 points for this. BTW, I didn’t grade these 2 points to myself.
pimpineasy Wrote: ------------------------------------------------------- > wait thee CFA releases exams?>??? where? > > ok so i found the 2009 paper to have a nice flow > til about q6 (this is from memory)…the WACC i > couldnt fig out all in all wasnt a bad exam but > had some quesy moments…now > the 2007 or was it 2008 exam had a horrible > feeling to it going through it was a lot of > uncertain moments… > > again has anyonde noticed the lack of tax related > questions? Taxes just got added to L3 this year, so there wouldn’t be any tax questions in the old exams.
SK u dirty filthy animal yah i know but no mention in the sample exams or the mocks…jus found it strange plus f i recall properly this wasnt tested in 2008 level 2,…