This is my first post here although I registered many months ago and I’ve been pretty much lurking. I’m going to take the next week’s Level 1 exam.
I’ve been mostly relying on CFAI Topic Tests and Mock Exams for practice so far. I have some Schweser booklets but I haven’t done any of them because I find CFAI Mock Exam auto grading and electronic form of practice to be very very convenient.
Just wanted to ask whether the CFAI Mock Exams is a reasonable proxy to estimate the level of difficulty for the real exam itself or should I start hitting the Schweser practice exams too just in case (I know you’re going to recommend me to do Schweser, but meh :P)
Also, are we going to be provided with blank papers to do rough work on for the exam day? or do we do all the scribble on the question sheet?
Thanks in advance and good luck to anyone who are taking the exam next week as well.
I’ve read that, unfortunately, you just have to use the margins on the page of the question booklet…
Most people are saying schweser is harder as it contains more “random questions” on topics where you really need to remember that really small detail on some random page of the text. CFAI mock is easier in my opinion as well since I have done it, and people are saying the test is easier than both of them. If someone has taken the test please validate what I’ve read haha.
CFAI topic tests and mock exam is not only the reasonable proxy, it is the BEST proxy of the difficulty level of the exam. The End-of-chapter problems (MCQs) are also as good proxy as the topic tests/mocks. No need to do Schweser mocks (do just 1 if u insist…). No blank paper will be provided. Schweser is harder because its questions appear to test your reading skill as well - CFAI ask simple direct questions. Good luck people!!!
The fact that CFAI ask simple direct questions does not mean that answering the questions will be easy, particularly for the unprepared candidates. Therefore, the perceived level of difficulty will remain high! The (unofficial) Level 1 MPS has historically been around 68% if I am not mistaken. Aim for 70%+ and you can have a margin safety of at least 2%.
If it’s any help, ethics is pretty easy to bump your grade up in a short span of time, since the concepts are easier to learn than harder concepts like SS9. As a testament to that, I got a 50 on ethics last week when I did AM, but got a 77 on ethics today after grinding ethics every night since.
And yea makes sense, people are saying above 68 on the real test is MPS, and since CFAI mock is a bit harder, 70 makes sense leaving a bit of margin for error from exam day choking.