Exam 3 in book1 schweser

Anyone else think the morning session was really weird? Some questions were ambiguous on what they wanted. I did well, but again just seemed off.

I took it, but haven’t reviewed it yet. Which questions were ambiguous?

Practically all of problem 7 was sort of ambiguous in what they wanted and too general. Just comparing to the past CFAI exams, I don’t think the 2011 will ask questions this open-ended and frankly that easy. There were a few others in there that I don’t recall.

I didnt get to exam 3 yet but will let you know when i get there. However, I find the schweser exam 1 difficult, how did you do on it?

studynomore Wrote: ------------------------------------------------------- > I didnt get to exam 3 yet but will let you know > when i get there. However, I find the schweser > exam 1 difficult, how did you do on it? 65 in the afternoon, 60 in the morning. Definitely room for improvement there.

Was Question 7 the “Describe the Port. Manager’s Two principal Responsibilities” . . . .and other various “lists” for other parts of the question?

montanidate Wrote: ------------------------------------------------------- > Was Question 7 the “Describe the Port. Manager’s > Two principal Responsibilities” . . . .and other > various “lists” for other parts of the question? It had that, role of SAA, and comparing individual and institutional investors, pension plan risk, and institutional constraints. A and B were pretty straightforward, C was pretty tricky. I put in a general statement along the lines of: “The asset allocation ensures the return requirement is being met according to the risk tolerance stated in the IPS.” For D, I stated the main difference was the legal requirements most institutions face, while individuals generally don’t have any. The guideline answer was more in the context of what their investment goals are. E was a throw away for me, I put down the following: Responsibilities: -Allocate assets in order to produce the required return. -Not take excessive risk. Factors -Financial circumstances -Tax laws

BTW, I’m starting Book 2 now and it is absolutely ridiculous.

Bracing for book two. If it’s anything like Level 1 & 2 book 2 my scores are about to drop off a cliff.