for example… 90% of confidence level/interval, accordingly the z values are +/-1.65…
then how come the qbank question I did was asking about it without giving the z table?
http://www.cfainstitute.com/cfaprog/faq/faqs_candidates.html##89 In quantitative methods we often refer to the z-table, t-table, and F-table. Will these tables be provided during the exam? No. CFA Institute will not provide distribution tables with the exam. If a question requires information from a specific distribution table, that information will be provided with the question, but the tables themselves will not be provided. Similarly, time value of money tables (present value, future value, etc.) are neither needed nor provided. The two approved calculators are capable of performing any required present value and future value calculations.
it just seems to me that they require us to remmeber the z values for confidence level of 90%, 60%… or reversely, require us to remember what’s the cofidence level corresponds to -+2, -+1 strandard deviations. I think it’s annoying to require ppl to remembe these…but the question is, is it true that it’s required?
The FAQ makes it pretty clear that if information is required from a distribution table then it will be provided with the question.
OK thank you. I can get paranoid.
You should remember that: 90% fall within ± 1.65 sigma 95% fall within ± 1.96 sigma 99% fall within ± 2.58 sigma … that’s not asking much. This knowledge was required (and not given) for at least one of the quant problems on the December 07 exam.
you’re gonna do so many practice problems you’ll have them memorized anyway. same for all the fsa financial ratios.
^ spot on xavier. after doing hundreds of questions the common critical values will be etched on your brain forever also, 1. some qbank questions look like you need to know the values - but you can click on the tables right there on the screen if you need them. You won’t get them in the exam. 2. unless they’ve changed the LOS wording (it doesn’t look like they have), then you will be given the critical valuues for z-, t-, f-, chi- D-W, etc, etc in the question. 3. The main emphasis is on knowing what to do with the numbers - any monkey can memorize numbers, but the skill is in knowing how to use them - ie knowing when to use 1-tailed versus 2-tailed, knowing whether the null is rejected or not, knowing whether what the null/alternate is, knowing how many degrees of freedom to use, implications of a type 1 versus type 2 error, etc etc. In most exam questions I can remember they even gave you the calculated test statistic a well. Some questions provide an extact from the table (2 or 3 lines), so you need to know how to use the table.
excellent answers, thank you guys.