Just started reading up on L3 material, and it’s very different from L1 or L2 - More qualitative. How was the exam prep like for L3? Any insights will be much appreciated.
Probably a million threads that you can search on this
biotech Wrote: ------------------------------------------------------- > Just started reading up on L3 material, and it’s > very different from L1 or L2 - More qualitative. > How was the exam prep like for L3? Any insights > will be much appreciated. I understand your enthusiasm but I think it is a bit rediculous to come to the level 3 board two weeks after the exam to ask questions to contrast l2 & l3. Anyone else with me?
Cannot agree more. Enjoy the summer!
At L2, you can know the material inside and out and be fairly confident you will pass. With L3, you can know it and still fail.
In L3, you don’t want to be bothered between exam day and results day with questions on how you should study in 7 months time.
Don’t bother with the material that gets a lot of coverage like VAR, but be able to discuss the component parts of the Grinold-Kroner Model in detail. But seriously, scroll back 30 pages or so and you’ll see a plethora of study methods and L3 topics discussed ad nauseum.
drs Wrote: ------------------------------------------------------- > At L2, you can know the material inside and out > and be fairly confident you will pass. With L3, > you can know it and still fail. Maybe the most accurate statement I’ve ever read on AF.
mpnoonan Wrote: ------------------------------------------------------- > biotech Wrote: > -------------------------------------------------- > ----- > > Just started reading up on L3 material, and > it’s > > very different from L1 or L2 - More qualitative. > > > How was the exam prep like for L3? Any > insights > > will be much appreciated. > > > I understand your enthusiasm but I think it is a > bit rediculous to come to the level 3 board two > weeks after the exam to ask questions to contrast > l2 & l3. Anyone else with me? Not following your logic about the rediculousness of my question. You’ve just went through studying for L3, and would have an opinion on the process. I’ve just went through studying for L2, and naturally am curious about L3. Not a whole lot of ridiculousness in asking the question, is there?
You know what’s ridiculous…? That dude at Javarama…that’s ridiculous!
Bankin’ Wrote: ------------------------------------------------------- > Don’t bother with the material that gets a lot of > coverage like VAR, but be able to discuss the > component parts of the Grinold-Kroner Model in > detail. > > But seriously, scroll back 30 pages or so and > you’ll see a plethora of study methods and L3 > topics discussed ad nauseum. Haha… I gave up after scrolling back about 15 pages. Thanks.
Biotech, I agree with the others that a bit of a search will find all the answer to your question but because you made me think about it I’ll answer. General Thoughts - Generally things tend to be more high level and qualitative there are still some calcs and you should know and understand these as best you can. Be sure to practice writing out answers to questions as this is a skill that need to be very sharp on exam day. AM Session The biggest difference is the morning AM session. This is a very different animal to the MCQ in the previous 2 exams. It requires a different approach to the material as recallability is going to be an issues. To over come this ‘new’ exam, practice taking some sample AM exams as under real conditions (for timing) or at least attempt to fully write out answers. Don’t think of the answer and read the solution behaviors biases will get you to think you have given a better answer than you probably did. PM Session Material is a little easier than level 2 for this but questions can be a little more vague but overall this is the easier part of the exam and usually candidate are trying to make up for the AM performance. Ethics is particularly tricky in lIII As far as the approach goes. I think because the material is broad you will want to aim to cover the material around 2 to 3 times (I’d recommend 3 but if you have a good memory maybe less). If I had to do it all again (and I might just be) my plan would be -Read material once while doing the end of reading question (both schweser/stall and CFAI) and some QBank for detail (I agree Qbank isnt great for L3 but I find it does help to get a broad knowledge of concepts). - Once I have completed first pass of material redo all end of chapter questions and use Qbank to keep concepts fresh. - Read Material again. - This should get you 2 about 4-6 week from the exam. - Start doing practice exams mocks and samples (I found the schweser ones were great for AM coverage). - Take the week before the exam off and review what you need to. - Re-read weak areas as you practice the exams.
confucious say: if one begins to study for level 3 before even getting one’s level 2 results, one has no right to call anyone else ridiculous.
enjoy your time off, man. it’s precious.
Thanks a bunch, Blamey. Looking forward to the challenges of L3. Blamey Wrote: ------------------------------------------------------- > Biotech, I agree with the others that a bit of a > search will find all the answer to your question > but because you made me think about it I’ll > answer. > > General Thoughts > - Generally things tend to be more high level and > qualitative there are still some calcs and you > should know and understand these as best you can. > Be sure to practice writing out answers to > questions as this is a skill that need to be very > sharp on exam day. > > AM Session > The biggest difference is the morning AM session. > This is a very different animal to the MCQ in the > previous 2 exams. It requires a different approach > to the material as recallability is going to be an > issues. To over come this ‘new’ exam, practice > taking some sample AM exams as under real > conditions (for timing) or at least attempt to > fully write out answers. Don’t think of the answer > and read the solution behaviors biases will get > you to think you have given a better answer than > you probably did. > > PM Session > Material is a little easier than level 2 for this > but questions can be a little more vague but > overall this is the easier part of the exam and > usually candidate are trying to make up for the AM > performance. Ethics is particularly tricky in > lIII > > As far as the approach goes. I think because the > material is broad you will want to aim to cover > the material around 2 to 3 times (I’d recommend 3 > but if you have a good memory maybe less). If I > had to do it all again (and I might just be) my > plan would be > > -Read material once while doing the end of reading > question (both schweser/stall and CFAI) and some > QBank for detail (I agree Qbank isnt great for L3 > but I find it does help to get a broad knowledge > of concepts). > - Once I have completed first pass of material > redo all end of chapter questions and use Qbank to > keep concepts fresh. > - Read Material again. > - This should get you 2 about 4-6 week from the > exam. > - Start doing practice exams mocks and samples (I > found the schweser ones were great for AM > coverage). > - Take the week before the exam off and review > what you need to. > - Re-read weak areas as you practice the exams.
Confucious’ mother say Biotech rocks my world budfox427 Wrote: ------------------------------------------------------- > confucious say: > > if one begins to study for level 3 before even > getting one’s level 2 results, one has no right to > call anyone else ridiculous.
i am only wondering whether it is possible to ace L2 to that extent that before your results are out, you are thinking of next level. i am impresed biotech. however, you will do well by not being rude on this forum as i can see in your previous post.
biotech Wrote: ------------------------------------------------------- > Confucious’ mother say > Biotech rocks my world > Confucious says get a girlfriend or a hobby
I am considering doing a full write up on this subject as others have in the past. If I have failed I will use it to help my prep next year (as I will change some things), if I passed hopefully it will help those taking L3 next year.
thanks, mwvt. that will be useful when i’m retaking it next june. as the days pass, i’m getting more negative on my chances.