So I am one of those candidates that took the exam today (15th June) in karachi, Pakistan. For those who don’t know, the exam got cancelled and was rescheduled for today due to security conditions.
In this post, I am going to reflect on the exam. I know it’s already history for you guys but I am going to vent anyways. Imo, the exam was very fair and I would have considered myself a sure pass had it not been for Alternative investments and Portfolio management.
In alternatives, what was supposed to be tested did NOT come at all and they say the focus of level 2 is “valuation”. Regarding portfolio, I could not even deduce the answers using logic/brain. I did not know what the fk they were talking about. Here’s my assessment for each section
Ethics…once a bitch, always a bitch. Most of the questions were inter-dependent and too many standards were integrated into just one question
Quant…It was one of my strongest areas and was hoping it would be harder so I would benefit relatively but all questions were like, what is 2+2?
Economics…Even though I don’t like economics but was pleasantly surprised by it.
Corporate finance…You are gold if you know the formulas but otherwise fucked. Thanksfully, I remembered the formulas.
Accounting…Not formula intensive but you need to identify/analyze “LINKS” between different items. Too much room for careless errors.
Equity…Same as accounting, one could have easily lost marks by being careless. Needed to be super attentive/alert.
Fixed Income…Did not study it properly so no comments.
Derivatives… VERY formula intensive
Alternative investments…What I studied did not come at all even though I spent ages on this topic.
Portfolio management…What was that? Chinese, Latin or some alien stuff. I hope level 3 portfolio management is not like level 2 portfolio management. I was not even sure what I have seen on the exam was actually from the curriculum. Even my educated guesses were effectively just pure random guesses.
Overall, I think I scored between 65%-75%. I hope the MPS is below 65% even in the worse case scenario.
Mods, even though I tried my best to not violate code & standards and still vent out my feelings. If anything is in violation of code and standards, then please delete it. Thanks