What command words require longer answers?

CFA Level III
#1

It seems to me that due to time limits, we should keep all answers rather short. However, the word “discuss” is stated as “To examine critically and in detail” and I thought that required a more elaborate answers. However e.g. in exam 2012 Q6B we are asked to discuss factors that contribute to the plan’s low risk tolerance. In the answer guidelines they are simply just stated as bullets, so very short and not a lot of discussion of it.

What command words prompt you to give longer answers?

#2

(in no particular order)

#Describe

#Explain

#How

#Why

#3

Is there any overview that shows which of these command words that require a long answer?

#4

DON’T DON’T DON’T WRITE PARAGRAPHS. DON’T DO IT!

  • Brief, bullet-pointed responses are all you need for any “written answers” in the AM Session
  • Since they’re easier to write than long-winded paragraphs, you’ll definitely save valuable time
  • And if you still needed another reason, ongoing research indicates that reading brief responses is (most likely) preferred by 4 of out 5 graders at the CFA Institute*

#TrustYouMe

#5

Suppose you get question that ask:

  1. choose the best option

  2. explain your option

Total: 3 marks

1 point is therefore allocated to part 1. 2 points are allocated to part 2. For part 2, is it wise to write more than 2 bullet-point responses? Or only the first 2 bullet points are considered?

[In this case, the question did not specify the no. of responses to be provided]

#6

Only first two responses will be considered. Rest of them will most likely be cut off, unless the grader is in a great mood! Precision and accuracy are the two most important things I believe which will play a role in the morning session.

#7

Justify usually requires a decent amount of words

#8

If I was a grader I would degrade those whose responses are nouvelle like because it would drive me insane to read this. So, bullets are, IMO, favorable method of response.

#9

#false

#10

I’m still having a tough time shortening my responses. I finished my 6th AM exam this morning and I think I’m still writing too much.

#11

I’m actually serious here…are the command words given to us as in the definition of what they are looking for? From the CFA exam site:

  • Focus on addressing the bold command words used in each question. Command words are defined on the inside of the front cover of the exam book.

Want to make sure I’m understanding it correctly.

#12

if the website says it, how you gonna argue with what they want? deviate at your own risk be warned

#13

Let’s say the question is: “Mark expects the economy to pick up and recover. Should he purchase investment grade or high yield bonds? Explain your response”

Now, is this answer enough:

  • He should purchase high yield bonds because they tend to outperform higher rated bonds when the economy is improving.

Or do you also need to sort of explain the explanation itself and add:

  • High yield bonds will outperform because they are much more sensitive to the economic outlook and corporate earnings.
#14

http://finance.yahoo.com/video/cfa-exam-writer-crazy-recommendation-110000891.html

Here’s your answer on what to write on the exam. This is the ONLY reliable source for your question.