Can someone provide me with the link to the 2010 CFA Morning Exam? I am about to loose my mind searching through the CFA website - to put it in excel terms, the website can be a circular reference warning… Thanks!
Finally found it! Never mind guys
You are indeed the world’s greatest… Joker! 
I did that exam last night. How did you guys find it? I found that my emotions ranged from “this is easy” to “WTF!!!”. Overall, I got some right, got owned on some areas. I reckon I would have gotten about 50%, maybe in the 60’s with part marks and a forgiving marker. I highly recommend doing the 2010 exam and other exams. Doing only Schweser exams are a big help, but their format becomes predictible after a while. The CFA exams will force your brain to think outside the box.
The first question of the 2010 AM paper was a shocker to me. I was completely thrown off on the question on what to sell and what to buy for the TDA and taxable accounts.
I thought the way the TDA/Taxable question was laid out made it seem more intimidating than it really was.
I felt that the Q1(E) 2010 AM paper was not structured properly. Nothing is said in the question that Rual lives in the same country as her sister Lima and therefore could use Exhibit 1 for Rual’s tax position. In the world of globalisation, it is very possible for a financial adviser to have clients in multiple jurisdictions. Moreover, it is not necessary for siblings to be staying in the same country either.
bell99 Wrote: ------------------------------------------------------- > I felt that the Q1(E) 2010 AM paper was not > structured properly. Nothing is said in the > question that Rual lives in the same country as > her sister Lima and therefore could use Exhibit 1 > for Rual’s tax position. > > In the world of globalisation, it is very possible > for a financial adviser to have clients in > multiple jurisdictions. Moreover, it is not > necessary for siblings to be staying in the same > country either. Well what really bugged me about the question is I sold the equity positions to realize a $50000 gain offsetting the $50000 loss from the bond fund. I missed the part where capital losses could be applied to income. I always find it really hard to concentrate doing practice exams. That is something I don’t feel I would have missed on the actual exam. Schweser and things say to take points off for doing it at home. My house is a much greater distraction than the testing center. Testing center is quiet, no baby, nothing else to do besides take the test.
Don’t forget that some questions are “thrown out”, so that question may indeed have been one of those. What I found confusing, at least according to this year’s reading, is the idea of maintaining the same asset allocation. Did they mean pre-tax or post-tax?
Oh yeah, I worked the whole allocation out beforehand. Then I decided I was just going to go with “Most Tax Efficient.” If you look at the sheer number of people that got <70% on last year’s exam on question 1, I don’t think they threw that part out.
I don’t think anyone should rely on any part of the exam being thrown out. Seems like a silly expectation.
Thanks but I didn’t say it was an expectation. What i said was that sometimes there are poorly worded questions on the exam, and sometimes those are thrown out after the fact.
Paraguay Wrote: ------------------------------------------------------- > Oh yeah, I worked the whole allocation out > beforehand. Then I decided I was just going to go > with “Most Tax Efficient.” > > If you look at the sheer number of people that got > <70% on last year’s exam on question 1, I don’t > think they threw that part out. Are the statistics for the AM paper scores published?
Well look at the exam result threads on here.
The return requirment in question 1. Do we just ignore the difference between the annual compensation(140,000) and living expenses(96,000) where does this 44,000 go?
Xtra Wrote: ------------------------------------------------------- > The return requirment in question 1. Do we just > ignore the difference between the annual > compensation(140,000) and living expenses(96,000) > where does this 44,000 go? Taxes.
Just did AM and got 79.4% Feeling not too bad… Screwed up the return question and also the one with calculating the portfolio’s effective beta. That one was good for a 0/5.