Ok, I’ve never been one to participate in AF posts about exam scores. I feel that each person is different and depending on where they are in preparation, background and luck creates so much variability in exam scores that comparing them to each other is a waste of time… with that said, I am breaking with tradition and posting an exam gripe about the CFAI Sample Exams. For those that don’t know, these are 3 exams 60 questions a piece the CFAI offers on their website… we all get a free-bee and the other two cost $40 each. I’m convinced this is the best money spent since it provides some insight into the very institution writing the real deal exam. I took all three this weekend. I’m frustrated because I just took the third and final exam a few moments ago and couldn’t help but feel like they threw everything plus the kitchen sink at me… this may be a tactic on their part to scare test takers into pushing harder through this last month. Has anyone else had the same experience? Not that numbers are important but it may frame my frustration. I scored a 75% on exam I and 83% on Exam II to only get my @ss kicked with a 65% on Exam III… wtf Please use this post as a forum to discuss the CFAI sample exams… I’m not exactly sure what I expect to gather from it, but this is pretty much the only place I can vent where people know where I’m coming from. The wife, dog, golf buddies don’t quite understande.
Char lee Pray tell compared to the Schweser practice exam which would you say is harder. Or more complex
Sir Charles - With those scores, I would feel pretty good about your chances. You’re already within the passing range and you still have almost 5 weeks to put on the finishing touches
Wow, you mean when they said sample exam, they didn’t mean a full 240-question test? I won’t say anything about “misrepresentation” or “Communication with Clients”, but I think you scored well, as your overall is over 70l. I sat for the real exam, and I didn’t think the questions were tricky or too complex, albeit I failed it. Most questions were direct and not too lengthy, but they all tested specific concepts, which you either knew immediately or had to guess.
For the sake of Econ review, http://en.wikipedia.org/wiki/Monopoly In Economics, monopoly (also “Pure monopoly”) exists when a specific individual or enterprise has sufficient control over a particular product or service to determine significantly the terms on which other individuals shall have access to it. [1] Monopolies are thus characterized by a lack of economic competition for the good or service that they provide and a lack of viable substitute goods. [2] Lets not forget: * No close substitutes: A monopoly is not merely the state of having control over a product; it also means that there is no real alternative to the monopolized product. * A price maker: Because a single firm controls the total supply in a pure monopoly, it is able to exert a significant degree of control over the price by changing the quantity supplied. Monopoly and efficiency According to standard economic theory (see analysis above), a monopoly will sell a lower quantity of goods at a higher price than firms would in a purely competitive market. The monopoly will secure monopoly profits by appropriating some or all of the consumer surplus. Since the loss in consumer surplus is higher than the monopolist’s gain, this creates deadweight loss, which is inefficient and a form of market failure.
Charlee - Were you able to see the questions after taking the exam ? or were you able to use the print function ??
sorry to post a rant then disappear hopeful231 - the questions are simply different then schweser, not necessarily harder or more complex, just different. Hard to explain, you should take a look for yourself vbcfa - thanks for the vote of confidence, hope you’re right. although i must admit this is my second attempt so I have set some higher expectations… Dreary - remember the same from last year nahsaur - sounds like you have econ down thunderanalyst- so once you complete a question and hit the continue button an immediate response pops up to tell you if you were right or wrong, what the correct answer is and what los is relevant… then there is a short explanation of the solution (not nearly as in depth to schweser explanations)… it tough to really use this as a “study” tool and really is only a way to measure where you are,not to mention the immediate response stucture is a little distracting especially if you get two or more questions wrong in a row… there is no ability to copy or print since the functions are disabled… I’ve heard some speculate about screen shots, but i haven’t tried… that’s a violation of the test agreement and the Code of Ethics 
Id rather not take the chance CFAI has some key stroke monitoring software to see who’s screen shooting. so, has anyone else taken these sample exams? any comments on your experience. I still think it is money well spent.
i took one right after i had finished reading the material (no review) and, as expected, performed terribly. i just wanted to see the type of questions that they would ask, which would help when going over the material a second time Edit: Char-Lee, what were your scores like by section when you took the exam in Dec? Any advice for targeting certain sections in the remaining 5 weeks besides FSA?
I did first one a month ago, got 64%, but was glad to see that only one section was in the <50% range. Then a couple of weeks ago did the second one. 66% this time around, but this was without even touching the curriculum since the first test. Everything was from “long-term” memory, as i wanted to gauge my retention. I have gone back to books since the second one, focused on my weak areas and will do the 3rd one tonight or tom morning. btw, did n e one else noticed that Schweser book 6 '08 is the exact same as '07 just a few minor changes to conform the updated curriculum? I was disappointed as i have expected Schweser to be a little bit more creative. There’s no point for me taking their tests as i would be able to guess through the answers and skew my results. Will get back to you with my latest CFAI score later.
are book 6 tests harder than actual exam?
Considering that they provide you with feedback on each question directly after answering it, and considering that the test is timed, is there sufficient time to both complete the exam in the time allotted as well as somehow retain the feedback on each question as you are taking it? I imagine it might be difficult to really take in the feedback and monitor what sections you should review (after the test) while attempting to get through the test quick enough to finish on time? I haven’t taken the free sample exam I’m allowed as a candidate yet, but was wondering about how the issues above will effect me.
Book 6 exams are not harder nor easier but different. The actual exam is much closer to CFAI sample exams in terms of wording. Also, actual exam is less math intensive than Book 6. As for the timing/feedback, you have 120 minutes over 60 questions, that gives you 2 min/q, and you do need a strategy in order to capture the benefit of the feedback. I personally write down the number of the question i get wrong and move on, as you can save a pdf feedback after each test. Then use this with your incorrect answers to see where you could improve. just my 2 cents… p.s. hopefully the new Mock Exams would be even closer to the real one. Planning to take one in mid-May and one at the end.
Your scaring me Char-lee. I haven’t taken any mocks yet but am averaging 70% on qbank questions. I am doing 240 total questions on easy/medium/hard and thought I was on track but if the mock tests are harder I’m scared. So is qbank easier then the mock tests? It sounds like your light years ahead of me = (
Char-lee there is a way of copying and pasting the answer in word from the sample exams when you select the text and copy paste with ctrl-c and ctrl-v in word…haven’t done it but saw a friend when we were studing together so it is possible for someone to just copy the whole tests and then review them at his leasure…no need to try and get high scores in the tests,the point is to get a clearer picture of the whole process if you ask me…(imho)
I think CFAI does not want the exams to be easily distributed, which is fine, but could a person video record it for him/her self? Sounds fair to me, unless they ask you not to do that when you sign up.
can’t you take a screen shot of every question. there are programs that do that and store all your file in one folder in right order. You can make a pdf of the screenshots. S
Some web pages disable that on your web browser. sauyra_s: we’re waiting for correct answer on your Ethics question.
dreary, The web pages disable prntscreen? S
Your browser does. Just as you would by disabling copying and pasting, where you effectively write HTML code that when get executed by the browser, instructs the browser to do whatever you want it to. You can ask the browser not to accept mouse moves, if you like…etc., you can ask it to send you any JPG files residing on the user’s hard drive (if the user has not set certain measures), etc.
you can use snagit and videotape the screen