Danielsky, The Mock/Sample are representative…I did better on the exam than the samples (but don’t reduce your stuyding based on comment).
I think that Book 7 is indicative of why people fail LII exam. As analysts and the reason we all probably well on LI is that we love to do calculations. LII has a lot of different formulas to remember and Book 7 is very computationally intense and tricky. In reality if you really understand the concepts the calculations become a lot less relevant and it is ok to forget the BS option pricing model or that impossible Treynor-Black optimization (I trade options all the time but could not tell you the BS formula by heart, why would I I have software, but I can answer almost any conceptual question). I think because of the Schweser books, a lot of people concentrate on the math and not the fundamentals. Just the opposite of LI. I think the Schweser doesnt intend to purposefully do this and they would tell you that the Qbank is for the concepts. Anyone have any thoughts on this?
thanks, Jasonms. I just blew the P.E. 3PM in book 7 this morning, worst of all my practice exams. Just a bit over 50%. It is not helping to build confidence at all. I will return to mock tomorrow.
AM 39/60: 65% PM 41/60: 68.3% (w/ two dumb errors that would have brought me to 43/60: 71.7%) I’m satisfied, but going to keep grinding. Where do you guys think I stand?
After aggregating a lot of the responses on the Book 7 exams from multiple threads, my conclusion is as follows: Book 7 is much more quantitative than qualitative. Quant people do well on it. Others don’t. On a related note, Quant people tend to have a very hard time at level 3, where the exam is even more qualitative. Since we all know that the exams are more qualitative than quantitative, Book 7 is not a good representation of the actual exam. It should be ignored, with the exception of Ethics. If you MUST do Book 7, just treat it as additional questions you can take, not as a test (i.e. don’t time yourself).