Hey guys, I’ve been reading some posts where people have emphasized learning the key words used in the exams. Like CALCULATE the return requirement, JUSTIFY the statement, FORMULATE, DESCRIBE… How should my answer be different, when they say FORMULATE the IPS and PREPARE the IPS? I don’t get it…
in this level maybe more so than any other, i’d be prepared to calculate where they use another key word or explain when they say calculate. it’s essay for half of the test. you need to know it cold. or it hurts. hurts badly. look at any of the past year CFAI exams AM sections if you want to see what the IPS is going to look like both individual and institutional. they’re fairly straightforward.
Yeah, after doing my 2nd review there have been quite a few EOC’s that require you to CALCULATE even though there was no mention of having to do so in the LOS’s. Even formulas that are not numbered in the book are used. The first time through I thought there were about 4 readings with any formulas to memorize, after going back through though, I’m finding there are a lot more. I would plan on at the very least understanding all formulas in the books (numbered or not). Myself, I plan on being able to replicate them on the test.
bannisja Wrote: ------------------------------------------------------- > in this level maybe more so than any other, i’d be > prepared to calculate where they use another key > word or explain when they say calculate. huh?.
No guys, my point is… if you notice in questions, they write certain words in bold. Like ‘EVALUATE’, ‘PREPARE’, ‘DESCRIBE’. I read some previous posts, which recommended we learn the meaning of each of these, to understand how to approach the question. I’m wondering, how different should my approach to a question be for different key words.
Great question. I have been wondering this too. Your best bet on this particular subject imho is to review the released questions on the IPS material. I have the 2007 released exam questions and they give you the boxes and ask you to create the IPS. you have to know the terms and how to create them in the boxes provided. I wouldnt place too much emphasis on the “formulating, calculating, describing…” words. Just “know” it with a decent degree of confidence. When you take practice questions, you can see the concepts they are testing and how they are testing them and this can build confidence in your approach.
there is a list of key words on the website, although I dont know what the big fuss is with this unless your first language is not English.