Do we need to write out the formula or label the numbers to get the points? - Charterholders inputs please?

This is time consuming and one of the reasons dragging me down from keeping within the time constrains

What is everyone gonna do?

i’m not planning on doing that. I’ll “show my work”… and my work is pretty much chicken scratch but maybe they can follow it. reminds me of college calculus where the prof wanted to see something of how you got there.

make sure you circle your final answer.

I read from somewhere that you have to label your numbers…Would like some charterholders to confirm if they actually did that on the exam…

no1 really knows the answer to that because those people could have missed the 1 pt for not labeling but crushed the exam and still passed.

what you need is someone who went to a live review class taught by a former exam grader to give you their input from what they learned in the class that day when he went over all his recommend tips and tricks in the DC convention center.

I would write out the formula for two reasons:

  1. if I somehow have a brain fart and miscalculate a simple number, which tends to happen on these exams maybe they see I knew the formula and how to get the answer just made a silly mistake and will give me part marks.

  2. when formula is in front of me I am less likely to transpose numbers specially when taking out of a box or table presented series of numbers

What class is that?

That’s true…Now I’m stuck…Can’t think of anything else to cut down my writing time…

Skip tough questions, gaining few extra minutes to spend on easier questions…

I dont write formulas for 2-3 min questions. Write them for 4 min if I am not confident with the calculations and definitely write for 4+ mins.

Here’s a little freebie, when it comes to grading the graders are human where they aren’t assuming anything. Lets say a question has listed in a table short and long term interest rates. and in the formula you write “r” or “interest rates”, well you’re probably not going to get points because he doesn’t know which 1 you pick, unless you make it clear to them what you are using.

Apparently that’s a huge reason why people lose points because they don’t consider if the person grading is going to be able to understand what they are writing. that also goes for writing things like Port = portfolio or b/c = because. It’s great to have friends and 3rd party services grade your exams for feedback but take it with a grain of salt. Unless the 3rd party provider has past experience grading actual exams.

Thanks for the tips, but if you combine r with numbers, that should be explicit enough, right? I can’t imagine sometimes you have to write out the whole long formula and then numbers again, which seems to take away too much time…

I have always been wondering about the short forms like “port”, “b/c” “w/” “w/o” … This is what I have been writing and most people should understand…It’s hard to get into the habit of writing out the whole words especially in such time constrains when you are in the last minute trying to get your sentences complete…Do graders give some leeway for those?

The CFAI website states they recognize common abbreviations.

Right, …just don’t know if some are counted into common abbreviations…

I emailed them and they said ‘We advise that candidates show work for all calculations as well as the related formulas. Partial credit is often awarded for correct formulas and inputs even when answers are incorrect.’

I would write out the formulas and label answers just to be safe.

you can get your answer on CFAI website under your profie “are you taking L3 Exam” or something like that… here is part of it…but specifically " If the question says “show your calculations,” then do so. Partial credit is often awarded for correct formulas and inputs even when answers are incorrect."

Record Your Answer Correctly

  • Each essay question has two or more parts (A, B, etc.) and one or both of the following types of designated answer pages:
    • One type of answer page is an unlined page, clearly labeled for that question part. You are free to write your response as needed on that page.
    • The other type of answer page has a structured set of boxes. The boxes are clearly labeled for that question part and provide a visual structure to guide you in writing your responses.
  • Only the answer recorded on the designated answer page is graded. Answers written on question pages, pages marked “This Page Intentionally Left Blank,” or answer pages designated for other question parts are not graded. You may make marks and notes (e.g., equations, your logic, etc.) on question pages and pages marked “This Page Intentionally Left Blank.”
  • If the question says “show your calculations,” then do so. Partial credit is often awarded for correct formulas and inputs even when answers are incorrect.
  • Answers are not graded for language and style. As long as the answer is clear, the grammar does not have to be correct.
  • Use short phrases and bullet points to save time, but be sure your meaning is clear.
  • Common abbreviations and symbols are acceptable , but when in doubt, write it out.
  • Points are awarded for direct answers. Points are not awarded for general knowledge that does not address the question.
  • 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.
  • If the question requires a decision (e.g., command words Determine or Recommend), clearly state your decision. When your intent is unclear to the grader, or contradictory information is included in an answer, no points are awarded. For example, if the question requires you to justify a recommendation, the information you provide should clearly show why the recommendation is correct. When asked to do so, provide reasons that clearly and directly justify your answers.
  • You may strike through, cross out, or erase responses or parts of responses you want the graders to ignore. Your responses may appear anywhere on the designated answer page, even if you strike through some of the material. If you need to revise your answer, there is enough space on the designated page. We encourage you to use a No. 2 or HB pencil or a blue or black ink pen when taking the exam.

I write out of all formulas. It cannot damage anything and may only help.

I agree with Flashback. To write out the formula and label an answer can’t take more than 30 seconds. Doing the cost/benefit analysis it seems to be a smart move. Also, per two posts up from CFAI, “when in doubt, write it out.” If you aren’t 100% sure they know the abbreviation, I think that’s a bad risk to take. We can’t control the questions we get on the exam, etc., but I know that clarity is 100% within my control.

Yes, definitely put in the formula for presumably as much marks as possible - Even if its PV = 100, n = 5 and you’re solving for FV for ex.

Side note: read the question, UNDERSTAND what its asking. THINK and then fill out your answer…i’m not being facetious but if you want to save time answer specifically, not flowery.

cheers