Hey guys,
Can practicing flash cards based on CFA book glossary be beneficial? What do you guys think of this method? On top of having my own flashcards.
Type of flashcards i’m talking about (that are strictly based on CFA glossary) :
Front : Underwriter
Back : A firm, usually an investment bank, that takes the risk of buying the newly issued securities from the issuer, and then reselling them to investors or to dealers, thus guaranteeing the sale of the securities at the offering price negotiated with the issuer.
Front : Look-ahead bias
Back : A bias caused by using information that was unavailable on the test date.
Flashcards for vocabulary - particularly if you do them or they are otherwise well written - can add value for L1. Particularly ratio definitions and formulas for key vocab words. Studying L1 vocabulary is useful at least when I took it. At L1 they also can ask MCQ questions like “sentence X is an example of term Y” or something like this. And ratios/simple definitional formulas were all over my exam that we had to quickly solve based on memorization.
For L2, flashcards for pure vocabulary might be slightly less useful in my opinion. The formulas and concepts seemed more important to me at L2, than the pure vocabulary. You can go read the L2 vocabulary on the CFA website when you get to that level in your Candidate Resources, and I recommend doing that at least once, but I don’t know if you need to dedicate extra time with L2 vocabulary flashcards. But up to you, whatever helps your process.
For L3, flashcards work well for “lists” and formulas, and also for the definitions of different approaches or strategies with their sub-parts. There is a lot of that on L3.
Cheers - good luck on your exam - you got this👍
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If you’re going to do that, I suggest that you paraphrase the definitions; if you write them in your own words, you’re more likely to remember them (as you have to make a conscious effort to change their language to your language).
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