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Level III post-exam feelings

PM was definitely harder than expected, and some left side questions which were not well covered in mocks/ EOCs/ test topics 

Then make sure you did everything you could to prepare—enroll in a review workshop to ace it on exam day.

Hi, nice to see you again.

AM was difficult as expected and after initial shock I had started solving as a machine and succeed to finish with 15 minute to spare which I used to revise and make  supplement note to 2 subquestions. I did not leave any part blank but I was guessing on 4-5 subquestions and not sure in some of my other responses.

PM was not easy but I was easy going until the last part when I had a blackout and forgot some formulas. Although, I was guessing on 3-4 multiple choice questions and not sure in additional 6-7, I think I was able to solve PM between 70-80 %.

I feel quite less optimistic than I was feeeling after L1 and L2 but still think I have chances to pass.

I spent about 650 hours to preparation, started in August last year but with 2 months break during last fall, thus like I had exactly started

about mid October. I had done exactly 37 AM paper test by stopwatch turned on including 10 of those in full Mocks with multiple choice Mock as PM part. I went 3-4 times through TT and 3-4 times through official EOCs. If I failed, the only thing I screwed is I haven’t used CFAI Curriculum readings so much then relied mostly on Schweser.

Best of luck to all!

I don't sell a smiling dog, forget about it .
The day before, walking through the park, he met me with her.

Flashback wrote:

I spent about 650 hours to preparation, started in August last year but with 2 months break during last fall, thus like I had exactly started

about mid October. I had done exactly 37 AM paper test by stopwatch turned on including 10 of those in full Mocks with multiple choice Mock as PM part. I went 3-4 times through TT and 3-4 times through official EOCs. If I failed, the only thing I screwed is I haven’t used CFAI Curriculum readings so much then relied mostly on Schweser.

Best of luck to all!

650 hours and 37 AM papers….. if you don’t pass then who should

Yep. I invested much more in L3 than in L2 and irony I was 90 % confident after L2 and now only 55%. We’ll see.

I don't sell a smiling dog, forget about it .
The day before, walking through the park, he met me with her.

I’m in the boat of both were difficult…maybe I’m having a Recallability trap here but I felt a lot of them were things I hadn’t seen (or recalled) from the books. A lot of knowledge extensions combined with very intricate details. Praise be though for Hashtag or whoever suggested not going in order. If I started with the start…I would have lost my mind. 

Flashback wrote:

Yep. I invested much more in L3 than in L2 and irony I was 90 % confident after L2 and now only 55%. We’ll see.

50 more hours in 3 then 2. Finished 3 with a whole month of revisions. 72% and 80% on mocks with time to spare. AM scored relatively well on the 10 I ran. Topic test averaged a 73%. Going into 3 I felt prepared, very prepared. Only thought a couple could Q’s knock me of my game, hit my weakspots HARD the last week. 

Felt steamrolled by about 10/60 questions in the afternoon. Felt 12 or so were very very very tough to differentiate (To the point where I’m not sure if I was bleeding in required/recons or stuff like that). In the AM felt 2-3 were bananas to do. A couple felt really easy…to the point of “It’s a trap”. I truly believe that 2017 will be one where candidates in the subsequent years will go “WTF was that”. 

Flashback wrote:

Yep. I invested much more in L3 than in L2 and irony I was 90 % confident after L2 and now only 55%. We’ll see.

I seriously think (and hope) you will definitely pass. You have put tremendous amount of effort. How much score approximately are you expecting in AM section?

I think the am difficulty was as expected , i did relatively well on it , wasn’t sure about 2-3 answers, answered all questions, finished in around 2 hours and  20 mins. But i found the PM much more difficult than expected, i was 50-50 in 4-5 questions and didn’t know some,hopefully pass ,definitely not that sure as in level 2.

lyk wrote:

I think the am difficulty was as expected , i did relatively well on it , wasn’t sure about 2-3 answers, answered all questions, finished in around 2 hours and  20 mins. But i found the PM much more difficult than expected, i was 50-50 in 4-5 questions and didn’t know some,hopefully pass ,definitely not that sure as in level 2.

I was flying through PM (+20 minutes) and then BOOOOOOOOOOOOOMMMMMMMMM

Viraj Swaroop wrote:

I seriously think (and hope) you will definitely pass. You have put tremendous amount of effort. How much score approximately are you expecting in AM section?

About 60 % till max of 65%. I cannot judge how graders will treat some of my answers. I did not use bullets. I used short sentences (2-3) with key words highlighted and circled solutions at calculations questions. I put formulas in calculation responses as well.

I don't sell a smiling dog, forget about it .
The day before, walking through the park, he met me with her.

Flashback wrote:

Viraj Swaroop wrote:

I seriously think (and hope) you will definitely pass. You have put tremendous amount of effort. How much score approximately are you expecting in AM section?

About 60 % till max of 65%. I cannot judge how graders will treat some of my answers. I did not use bullets. I used short sentences (2-3) with key words highlighted and circled solutions at calculations questions. I put formulas in calculation responses as well.

I am on the same boat as far as AM section is concerned. For PM, I am expecting above 70 in at least 6-7 topic areas and 50-70 in the rest. Hope it will counterbalance the AM part.

zero sleep night before exam.

survived on AM : left 15-20% questions on blank, but quite sure for the questions i filled.

PM was easy for me (rating difficulty only 6/10), only 1 calculation i cannot get on derivatives.

Topic Tests : 8/10

Mock Item Set: 9/10 –> i only got 50%AM /55% PM

EOC : 7/10

i did EOC 1 week before exam until the game day.

i even still practicing doing implementation shortfall calc 2 days case on the morning before the exam (6 AM).

2017 UEFA Champions League Final: Cardiff (Saturday, 3 June 2017)

https://www.youtube.com/watch?v=0Qqd6T_A9LY

Flashback wrote:

About 60 % till max of 65%. I cannot judge how graders will treat some of my answers. I did not use bullets. I used short sentences (2-3) with key words highlighted and circled solutions at calculations questions. I put formulas in calculation responses as well.

60% AM + 70% PM = 65% overall

Could be a pass if MPS is 65%.

wink

I was killing mocks, but I don’t think it means anything.
I won’t be surprised if my AM score will be better than PM, because I hated every minute of the latter and did stupid mistakes I shouldn’t have done.

I just hope it will be over. 

I am little disappointed, not because of the difficulty of exams but because of my poor performance and time management. I really do not know how anybody could finish the AM in less than 2h (I left 1 entire question/ set and made few stupid mistakes).  Beside the fact that I spent more time and effort than in L2, my chances to pass L3 are really small.

My estimation is AM – 55 -57% and PM – 67-68% = Total 61.5% +/-1%.

Am section: Finished the am section with 10 seconds left and a paper cut. Thought the focus was on some really obscure areas and the timing was pretty insane in terms of reading through the facts. There was deffinatly some tricks thrown in that made you stop and think a bit which isn’t a Luxery you have on the am section. I bombed the first section but picked up points in the later sections for sure. Thoughts on am 60-70%.

PM section: thought this was much easier. Finished in an hour and 30 minutes. Went back and reviewed some of the more tricky vintages. Thoughts on pm 75+ 

Hoping for a pass but that first am section might have thrown me off my game so we shall see. Defiantly some weird focuses on this exam compared to others.

I thought both the sessions were fair game. Average difficulty. However I’m starting to believe the MPS might be 65%. :( Haven;t heard many people failing to complete AM this time compared to previous years.

shariqnoor wrote:

I thought both the sessions were fair game. Average difficulty. However I’m starting to believe the MPS might be 65%. :( Haven;t heard many people failing to complete AM this time compared to previous years.

65% is overly conservative. Last 10 year average pass rate was 51%, which in my mind roughly translates to 49% MPS.

Even if that estimate is too naive so far polls have been diverse I don’t see why this year was easier. On contrary I think it was tougher than some other years hence pass mark could be lower.

Let’s hope MPS won’t be over 60% this year. I don’t think I would score higher than that.

Tell me and I forget.
Teach me and I forget.
Involve me and forget.
-Something Franklin

AM - flunked one whole question for sure and about 4 subsections I was fairly weak on 2 left blank basically. Finished with seconds.  

PM - Was a lot harder than last year. If i divide the test into quarters for me it went like this… Q1: fair questions, Q2: nuanced some wtf questions Q3: ‘hmmm hope im not falling to traps here but getting answers’ Q4: straight forward.  my calculations were working out but you never know if there is something you have overlooked.

Overall - worried about the AM slightly more than the PM and hoping other people had similar issues.

To make everybody feel better as I was walking out one guy said ‘I left the last 3 blank in the AM’ so there we go… 

I found AM to be very time consuming. With 45 mins left I was on the fourth last question. I had to really push to try to do what I could for the last 3 questions. Really bummed about the time factor here.

For PM I also found time to be an issue. Found it a lot easier than AM tho. I really hope I pass this one as I dont wanna do it again.

My feel is 58AM/68PM. lets hope its enough.

CAIA Charterholder

AM I definitely felt stressed for time but managed to finish everything with about 15 minutes to go.  I only left two parts to one question completely blank but walked out feeling pretty confident.  PM was a kick in the stomach.  From the get go I thought it was difficult.  I went back at the end and counted how many answers I was 90-100% sure on and it was 30/60.  My hope now is I either blind guessed or took educated guesses on 10 more to get me up to 67% and then do well on the AM.  It’s helpful to read so many others struggled in the afternoon.  Now we just play the waiting game.

AM killed me. Left too many unanswered question and felt they were testing on the few things I did not know. Even though it was not hard, I just did not know.

PM was a walk in the park for me. I think I scored above 70% for sure.
I just hope my PM score will be enough to compensate for AM.

Flashback wrote:

Hi, nice to see you again.

AM was difficult as expected and after initial shock I had started solving as a machine and succeed to finish with 15 minute to spare which I used to revise and make  supplement note to 2 subquestions. I did not leave any part blank but I was guessing on 4-5 subquestions and not sure in some of my other responses.

PM was not easy but I was easy going until the last part when I had a blackout and forgot some formulas. Although, I was guessing on 3-4 multiple choice questions and not sure in additional 6-7, I think I was able to solve PM between 70-80 %.

I feel quite less optimistic than I was feeeling after L1 and L2 but still think I have chances to pass.

I spent about 650 hours to preparation, started in August last year but with 2 months break during last fall, thus like I had exactly started

about mid October. I had done exactly 37 AM paper test by stopwatch turned on including 10 of those in full Mocks with multiple choice Mock as PM part. I went 3-4 times through TT and 3-4 times through official EOCs. If I failed, the only thing I screwed is I haven’t used CFAI Curriculum readings so much then relied mostly on Schweser.

Best of luck to all!

I studied about 75 more hours than you even. We better pass or I’m going to be so mad. 

I feel the overall trend of this test is CFAI is really adamant that you use their study materials and only their study materials. 3rd part providers left key parts of topics out. 

I passed L1 and L2 with ease, so L3 should be a lock. Quick, is that overconfidence or representativeness?

Seriously now, felt that AM was reasonable but PM was harder than expected. I felt much less optimistic walking out of L3 than I did last year in L2. My scores on practice exam halves were all over the place from 45% to 85%, which to me underscores how much luck is involved in this process. If the stars don’t align this year, they will eventually.

Do the papers vary according to the region? Quite surprised that there are people thinking AM is rly easy but PM is way difficult 

A lot of candidates that focused study efforts on “memorizing” previous 10 years of AM papers got screwed because this year was “different”.. 

PM was on par with any random “hard” topic test but again I think CFAI may an effort to not allow people to game the test by memorizing mocks/previous papers awarding people that purely studied the material

danv0330 wrote:

A lot of candidates that focused study efforts on “memorizing” previous 10 years of AM papers got screwed because this year was “different”.. 

PM was on par with any random “hard” topic test but again I think CFAI may an effort to not allow people to game the test by memorizing mocks/previous papers awarding people that purely studied the material

Absolutely right. They’re not dumb people lol

googs1484 wrote:

danv0330 wrote:

A lot of candidates that focused study efforts on “memorizing” previous 10 years of AM papers got screwed because this year was “different”.. 

PM was on par with any random “hard” topic test but again I think CFAI may an effort to not allow people to game the test by memorizing mocks/previous papers awarding people that purely studied the material

Absolutely right. They’re not dumb people lol

Wonder why post the topic tests in the first place then? Mislead the candidates? You can’t game a thing if the questions are different. 

Tell me and I forget.
Teach me and I forget.
Involve me and forget.
-Something Franklin

That I noticed in some past AMs and a few topic tests. Some stuff not properly covered in Schweser was asked, which made me refer CFAI books for some topics.