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AM exam writing tips?

Do we need to write down the formula or explain the meaning of every number we put on ( like 30% - tax rate)? Due to the time pressure, I really prefer just to write down just the calculation and get the final number…

Also, Is it safe to use common abbreviations in the AM exam like info or information? Govt bond for government bond?

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If you’re asking these types of questions 1.5 days away from game time, you’re probably going to fail.

Apologies in advance and good luck next year.

Pray in the AM, Slay in the PM

barracuda wrote:

If you’re asking these types of questions 1.5 days away from game time, you’re probably going to fail.

Apologies in advance and good luck next year.

I’ll try to give you a little more helpful advice.. yes.  You should label most of the things on the AM exam.  Make sure to use labels like “$” or “%” or “basis points”.  These are all worth points towards the score.  I know it was covered in Kaplan when I took the exam so maybe try to find some examples of past AM exams to see how people label their answers- they post old AM exams on the CFA website 

Rule of thumb - make it easy for the grader to give you points. If it’s clear you know what you’re doing, and your final answer is correct, they will likely give you full marks despite any missing notation or skipped steps in your work.   But even if you get the final answer wrong, they might still give you points for correct formula/work. When it doubt, write it out (formulas and labels, that is, NOT paragraphs/full sentences)

No law against waiting, people do it all the time.

You can check the common acronyms and abbreviation under candidates resources section. They have covered them there. You should always put currency code, number unit (millions, billions etc) or pct 

Struggling brat wrote:
Do we need to write down the formula or explain the meaning of every number we put on (like 30% - tax rate)? Due to the time pressure, I really prefer just to write down just the calculation and get the final number…

To quote the e-mail that CFA Institute sent me today:

A candidate is not required to explicitly show all variables and values of a formula; a correct answer on its own may be awarded full points. When answers are incorrect, partial credit may be awarded for completing part of the calculation or for correct formulas with some correct inputs. Therefore, if the question says “show your calculations,” it is in the candidate’s best interest to do so, for the potential to earn partial credit. Minor errors may have a significant effect on the points awarded; it varies by question and the type of partial credit available.

 

Simplify the complicated side; don't complify the simplicated side.

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