I’m using the official CFA books after failing using only Schweser last year. I’m just about finished with the quant section and I came across a new section on moving average time series I don’t remember from last year. When I looked at the LOS I didn’t see moving average mentioned at all. What are you supposed to take from material presented that isn’t in the LOS?
I was thinking the same thing last night and just looked it up. I guess the questions are based on the LOS’s, but I think the required material outside the LOS’s help to paint a clearer picture of the portrait that they are trying to present in the LOS. http://www.cfainstitute.org/cfaprog/courseofstudy/los.html "Each exam question is based on one or more LOS. " "Learning Outcome Statements Everything you need to know about the learning outcome statements (LOS): LOS – What They Are The primary goal of the CFA Program is to enable you to become an effective investment professional by teaching you the basic concepts and principles in 10 major topic areas. LOS are descriptions of specific knowledge, skills, and abilities (KSAs) that you should be able to apply after completing a reading and all associated exercises and problems. Each LOS includes a command word, such as “demonstrate,” “formulate,” or “evaluate,” that indicates the degree of understanding required. Reading-specific LOS are listed prior to each reading in the curriculum. LOS – What They Are Not LOS are not intended to help you browse a reading to find simple facts that may be the subjects of exam questions. Readings may contain one or more paragraphs or pages that most directly relate to each LOS, but LOS do not have easy “answers.” Similarly, LOS should not be viewed as direct proxies for exam questions. How to Use LOS Read the LOS before you begin each reading to understand the primary learning objectives before you proceed. Keep in mind that the LOS should be pointing you to the most fundamental KSAs in the reading. Then proceed carefully through the reading. There is no substitute for reading the materials CFA Institute has selected and developed to teach the LOS. In readings developed for the CFA Program, the authors are charged with writing material to teach the KSAs specified in the Candidate Body of Knowledge (CBOK). The CBOK includes only KSAs that were identified as important by practicing investment professionals. Such readings are difficult to condense without losing important information. Many LOS reflect broad KSAs that you should be able to apply in different ways or in a variety of cases or scenarios. This is why it is critical that you study the examples in the readings and practice solving any problems that are assigned. Think about other ways to apply what you have learned. That is the best way for you to develop the targeted KSAs and prepare you to address investment challenges presented on the CFA exams. Exam questions are intended to test your ability to apply higher-order thinking and analysis to situations you can expect to face as an investment professional. In addition, you should be prepared to calculate any component of a model, given the remaining components. For example, a LOS that requires you to calculate present value will also support a question requiring the calculation of the discount rate, given present value, future value, and time. Each exam question is based on one or more LOS. You should be aware that exam questions, particularly at Levels II and III, may combine LOS from several readings, study sessions, and/or topics, especially for purposes of comparison, contrast, analysis, and synthesis. As noted above, the LOS should not be viewed as direct proxies for exam questions. Nevertheless, if you can accomplish the goals set forth in the LOS, you should be able to perform successfully on the exams. After completing the reading, review the LOS and evaluate whether you have mastered the applicable content and achieved the target learning outcomes. "