Can someone please explain, if the topic area weghting for Econ was zero in L3 for 2008, why do the scores have 18 points from Econ? Thanks
Because CFAI can do whatever they want. That isn’t suppose to be a smart-aleck comment.
I found that bizzare too. Basically those areas had 0% weighting, because its *all* called Portfolio Management, except for Ethics. At L3, Economics is a sub-section of PM, so you get an item set on it. It’s a stupid and misleading thing… but there it is.
Econ is lumped in with Portfolio Management at L3 (in terms of topic weightings).
Bummer, thought I had escaped it for good. So were there readings that were specifically on new areas of econ in the L3 CFA texts, or was it just retesting stuff from L2 without new readings on it?
It is quite different than L2
Are they sneaking in Quant as well?
No quant at L3… I wish. The econ at L3 is pretty lame actually (or did they change it for 2009?). It’s a bunch of obscure lists about biases people make when assessing data, as well as some “econ” stuff that looks remarkably like the equity stuff you learn at L2 (or did in 2007 anyway) – P/E multiples, calculating EBITDA, etc.
Bankin - no quant, but there were some international covariances that were on the CFA mock that didn’t show up on the exam… As far as the econ, there was stuff on international trade and exchange, macro/micro valuation of the stock market. there were two questions on lagging and leading indicators, stuff i just skipped over