…from someone who failed last year… Much like Schweser practice exam so far (I’m halfway through Book 1)… You’ll use your calculator less than you think - KNOW CONCEPTS!!!
TOTALLY AGREE.
+1. Concept questions can be such a pain in the butt. There are usually three outcomes on the exam: - you pick the right answer; or - you pick the trap answer; or - you have no clue what they are asking so you pick whatever that looks right to you (which is usually wrong). Also beware that a choice can be perfectly correct on its own but is irrelevant to the question, which makes it the wrong answer.
What % of q’s did yo uuse your calculator for? These practice exams are like 75%!
DanLieb Wrote: ------------------------------------------------------- > What % of q’s did yo uuse your calculator for? > These practice exams are like 75%! Going by last year’s exam I’d say half of that percentage. Memorizing FCFF or FRA formulas is important, but that alone will not be enough. One suggestion that I am doing with Q-Bank is going through EVERY quiz on EVERY section that didn’t have at least one six-question vignette in the CFAI books. The CFAI vignettes obviosuly require a number of calculations, but its the other sections that don’t have them that you MUST focus on as well.
+1. I found the short answer type of questions in CFAI text very helpful. (But beware some questions just go way overboard, like those in Treynor Black section.) Q-Banks are a bit on the easy side and they recycle questions a lot. It’s good for memory retention though.
eltia Wrote: ------------------------------------------------------- > +1. I found the short answer type of questions in > CFAI text very helpful. (But beware some > questions just go way overboard, like those in > Treynor Black section.) > > Q-Banks are a bit on the easy side and they > recycle questions a lot. It’s good for memory > retention though. I agree. The short answer questions are a good way to hammer down concepts. But the fixed income section has sooooo maaannyyyy short answer questions. It took me at least a handful of hours to finish those questions.
I did all the short questions in FI (and I am glad I did them first during my 2nd pass last month). I realized I knew so little about FI just from reading SchweserNotes. Highly recommended if you keep getting hammered by questions from FI.
Alright - so which resource gives you the best example of those ‘concept questions’ - the schweser practice exams?
CFAI text questions (the short answer type ones). They do a pretty good job in my opinion.
Right now I’m doing practice question from reading 41. This has struck me as the most meaningful chapter of all. The questions really combine different concepts, at least in my view. Thoughts?
eltia Wrote: ------------------------------------------------------- > +1. > > Concept questions can be such a pain in the butt. > There are usually three outcomes on the exam: > > - you pick the right answer; or > - you pick the trap answer; or > - you have no clue what they are asking so you > pick whatever that looks right to you (which is > usually wrong). > > Also beware that a choice can be perfectly correct > on its own but is irrelevant to the question, > which makes it the wrong answer.
pkun1 Wrote: ------------------------------------------------------- > Alright - so which resource gives you the best > example of those ‘concept questions’ - the > schweser practice exams? All resources have concept questions. My suggestion is to focus on questions that don’t require a calculator - including quant and derivatives. I guarantee you on the those sections on the exam you will need your calculator for only one or two questions out of the six in each vignette.