#1 reason why I hate CFAI text. Their answers in the back only show part of their calculations. If you can’t get the answer, they assume you knew how to get half of the way to the answer to begin with, which makes no f***ing sense. Possibly trying harder and harder to fail candidates since the charterholders from the 80s and 90s don’t want more people to dilute the golden charter that was a joke to complete when they passed it. Sorry for my rant, just getting annoyed.
Well, I don’t think the charter was a joke to complete in the 80’s and 90’s. At that point the majority of the test was given in the essay format which is more difficult than the current multiple choice format where you are given the correct answer for 80% of the exams L1-L3. Back in the 80’s - early 90’s the only people taking the exams were professionals who had already gained considerable expertise in the subject matter, which may account for the higher passing rates. I don’t know how difficult the material was back then (maybe a little easier than now), but the curriculum surely wasn’t any easier to navigate. They pretty much lay it all out there in terms of what you need to know (LOS) and package everything in a set of books which cover the entire curriculum. Also, the prepackaged study guides that are available now substantially cut the amount of digging around that you have to do in order to hit the main points in the LOS’s.
I hear you about the EOC explanations, but if you stick with figuring out something you’ll certainly learn it more effectively. I spent 30 minutes trying to figure out a downside deviation answer, only to finally figured out it was a simple order of operations issue…a good example of screwing up the simple sh!t now, so it hopefully won’t happen on game day. I didn’t do enough EOC questions last year, and I paid the price.
browndt1 Wrote: ------------------------------------------------------- > #1 reason why I hate CFAI text. Their answers in > the back only show part of their calculations. If > you can’t get the answer, they assume you knew how > to get half of the way to the answer to begin > with, which makes no f***ing sense. Possibly > trying harder and harder to fail candidates since > the charterholders from the 80s and 90s don’t want > more people to dilute the golden charter that was > a joke to complete when they passed it. > > Sorry for my rant, just getting annoyed. I completely agree with you. I felt the same way last year. If I did not understand the answer, I did move forward. I paid a price too. Failed in band 9. This yera I am not taking any chances. Trying to EOC questions a couple of times till it’s very clear.
I think going through the EOC questions was probably the most frustrating part of the preparation process because the questions are about as hard as they get and it makes you feel like you don’t know anything… But if you push through and take the time to understand the answers it will make everything else seem relatively easy going forward.
sorry about the second part of my rant. I honestly don’t believe what I wrote earlier (excluding the EOC questions). No matter when you took it, it is still a great achievement and proves your dedication to the profession and continued drive for knowledge; but I do get comments from older CFA holders that this materials is significantly harder than what they studied when they took the exams and it is frustrating to hear an exam writer comment that he tries to make his component as hard and confusing as possible (was bragging to one of my friends in London). I am sure not all of the writers take this approach but still took me by surprise. Hopefully we’ll all beat the exam this year, look back, and laugh at the metal drain this program provides.