Off the top of my head…here is what I think will be on the exam. Please comment. Ethics - 2 items sets - This is a wildcard but emphasis on Std 4 & 5 - Soft Dollars - ROS Quant - 2 item sets - Mult Regression (ANOVA table) - Time Series Eco - 1 item set - Mix of quant/qual questions on Parity Relations FSA - 3 or 4 item sets - Pensions - Consolidation - FX Translation - Earnings Quality??? Corp Fin - 1 or 2 item sets - Capital Budgeting - M&A/Corp Gov (can tie FSA with this) Equity - 5 item sets - Porter’s 5 forces - DDM/FCF - Price Multiples/RI Model - Real Estate + 1 q on HF - ??? FI - 2 item sets - Credit Analysis/Bond Ratings - Backward Induction/OAS I think FI is the most qualitative topic…deceivingly qualitative. Derivs - 2 item sets - Futures/Forwards - FRA/Swap Derivs is really hard to game - Options will be in both item sets PM - 2 item sets - IPS - Portfolio Concepts with Quant Similar to FI, there is an insane amount of theory and difficult to consistently do well in this topic. Please let me know if there is something that should be here or not be here…I don’t care what anyone says, there is significant element of luck to pass this exam.
PM - ICAPM FI - different tranches of MBS
FI, PM and econ i’d say are the biggest wildcards in terms of there’s a decent amount to know but not tons of item sets. PM- ICAPM i agree- so easy to mix that up with either an econ or quant vignette also. it all links together nicely. Equity- there could be one DDM/H-model stuff, maybe that’s just one or 2 q’s in a bigger vignette about choosing which model if you had unstable cash flows or no history of divs or something like that. Equity- franchise value/franchise P/E somewhere Equity- i seriously hope not but the emerging mkts painful stuff- real vs nominal, inflation, etc. yuck. Quant I think you nailed- prob 1 anova table and 1 time series FSA- adjustments (this goes hand in hand w/ earnings qualtity and the shennanigans stuff) so yeah… hmm… that’s a lot of stuff!
Brilliant list 3_letters, you have said it all. I just feel 1 addition to FSA would be “synthesis/adjustment - complete vignette”
dinesh.sundrani Wrote: ------------------------------------------------------- > Brilliant list 3_letters, you have said it all. > > I just feel 1 addition to FSA would be > “synthesis/adjustment - complete vignette” i dont think we will get a vignette on that. i think we will be doing smaller adjustments throughout the entire equity and fsa section. IMO of course, but it makes sense to me.
competitive strategy in equity. kills me everytime.
cfasf1 Wrote: ------------------------------------------------------- > competitive strategy in equity. kills me > everytime. no. effing. joke. seems so simple, until it shows up in an item set. might as well put some of it in mandarin or something.
correct - I wish we dont have any of synthesis and Poter’s around for 2008. Hope they decide to up the pass %'age to 70% this year. Wishful thinking…no?
I’m getting killed with material overload…I read a section, I know it and then I come back to it the next day and 70% of it is gone. Definitely starting to get frustrated… That list looks good. There will definitely be something about porter - hes a favorite
“I’m getting killed with material overload…I read a section, I know it and then I come back to it the next day and 70% of it is gone. Definitely starting to get frustrated…” I could not have said that better… After reviewing EVERYTHING multiple times I’m still getting f’d on practice exams. I think PM could be a silent killer – maybe even 3 item sets to F with us. PM is I believe 40% of Level 3.
PM- as possibly touched on above I’m thinking they are going to bring in more PM and mix in the International piece into the Econ. (since in prior years the International reading was an Econ reading) Weird feeling but maybe Valuation in Emerging Markets.
GMofDen Wrote: ------------------------------------------------------- > Weird feeling but maybe Valuation in Emerging Markets. don’t you dare say that, don’t even think that. I want to puke just thinking about that now likely possibility. you just subtracted 5% of my score. I hope you’re happy.
maybe this week we should review all the topics mentioned above in separate threads
If EM val shows up I might just walk out.
i like this list, good work
EM, ICAPM/or foreign bonds(just to add it credit risk) and DC returns on FC investments… I think this might just be my nightmare…but the theme of international/multinational is all over the material this year
Last year CFAI honored Trenor or Black, thus the reason for inclusion on last years exam. Has anyone picked up on any obscure topic they have spoken out about…etc?
no, but in that vein, pray they never honor jdv or that years candidates will be slaughtered in quant.
you forgot molodovsky
Yeah sorry slouis. I actually like that EM one now. If you go over it 2X you’ll have it down. Pales in comparison to some of the Quant or Deriv’s for me. When they start mixing in the WCinv I think it’s too much for a 3 minute per question time limit. Black Swan- I only saw it tonight but LOVED that post you had on the L1 forum… Had me cracking up.