2013 June Level 1 Review

Thought afternoon was tougher while I was taking it, but ended up finishing it faster with fewer “not so sure” guesses than morning. Probably due to fatigue.

I agree that the mocks were a lot harder than the exam. There were a few trickier questions but I almost felt like it was too easy. Sometimes, I get the feeling that I misread the questions and picked the incorrect choice too quickly.

Speaking of naps, the guy in front of me fell asleep during the afternoon session. I think he was out for 15 minutes. A few of the proctors had to poke/shake him before he finally woke up!

I felt like the exam was way easier than I thought it would be and because of that I have no idea how I did. It was almost too easy to answer some questions which makes me doubt my answers like everyone else.

Seems like there’s one group who thought the morning was easier and another who found the afternoon harder. For myself, I found the morning easier but more time-pressured. I felt like I rushed through both morning and afternoon so that I would at least have minimum exposure to all questions.

In the morning, I had about 30 minutes to reread the questions and my answers, of which I changed about 3-4. And no one left early in the morning.

I found the afternoon trickier and although I finished with an hour to spare, I think I changed more answers in the afternoon than the morning. I found I really had to re-read things and look for the trick areas.

The level of detail was more demanding than I had anticipated so overall, I felt it was a fair, good, but not easy exam. I’m leaning towards having passed but again, you just never know.

Next questions…does anyone know how many pages is CFA 2? I counted 3133 pages for CFA 1. Also, I have to admit I’m a qualified actuary, and having done the hardest of those lot, even the hardest actuarial exam only had about 1100 pages of readings, with less detail-oriented testing. IMHO.

Thanks in advance and good luck to all of us :slight_smile:

What makes u say that December will be tougher?

in case I don’t make it now would have a lower chance in December as I did find the test was not extremely difficult but doable

Same ffeeling what do you all plan to do during the 2months

Don’t know the number of pages, but when stacked next to my L1 books, they were a comparable height.

Go for a vacation, start working out again and waste a lot of time without feeling guilty :smiley:

I feel that I had to guess a lot, often between 2 answers. A conservative estimate of my score would be:

Confident - 50% - p(correct|confident) = 90%

Guess between 2 answers - 30% - p(correct|guess between 2) = 50%

Complete guess - 20% - p(correct|complete guess) = 33%

Expected value = 66.6%

The morning one was indeed harder than expected. The afternoon session went ok, But now I’m just glad I can start my social life again :slight_smile:

Seems like a good mix of people here thought one part of the exam was easier or harder than the other…which I guess means it was a fairly tested exam. Which also means it is almost impossible to tell what passing/failing scores will be like…

So take it easy everyone for at least the next 3-4 weeks! =)

Just for the record though, I advise anyone reading this for the future L1 exams to not rely solely on Kaplan/Elan…Review the CFAI materials as well. Definitely helped.

As someone that used Schweser (and Arif Irfanulla’s youtube videos), there happened to be only a few questions that were ‘out of left field’ (I don’t remember them being in Schweser’s exam prep), but I believe I was able to make educated guesses on them. I was scoring in the low to mid 70s on all of the mocks going into the exam and I feel as though I did similarly on Saturday, but you never know. I could have been tricked on a lot of questions.

You’ll need the CFAI book for the Ethics section, however. Can’t rely on the condensed notes for that, IMO.

Those CFAI books are exceptionally long and for those of us that have full time gigs and try to have modest social lives from January through May don’t have the time to go through every single CFAI page, I think the notes are good preparation.

I can’t figure out if this is supposed to be humourous or not.

Come on, you didn’t think about your results like that?

Hi Lea,

I’m pretty sure you are not taking the above calculation too seriously but i just have to point out something that might affect your expected value. Within the 30% guess of two answers, you have to add in another probability of correctly eliminating the wrong answer. Given that when i reviewed those guess 2 answers part of my exam, i often find myself questionning the basis of eliminating the wrong answer in the first place…

I’m writing this not to discourage you, but because i follow the exact same reasoning as you lol…

Anyway Good Luck.

I finished both am and pm with plenty of time… it doesn’t mean I am confident, I must just read fast.

Good point Steven. I tend to underestimate how I do on tests anyway so hopefully that’s the case this time. I scored 79 on the am mock so I was pretty confident going in, but not anymore. All I can remember is the questions I didn’t know.

I don’t think I even noticed any trick questions. That must mean I did really bad.

My thoughts exactly Slurry, what are we missing?

Maybe you guys didn’t notice trick questions because you knew exactly what to do (so therefore it wasn’t even a “trick” question in your eyes). :slight_smile: