For the level 1 exam, is it laid out in a certain way? For example, does the first section say something like: The next 12 questions relate to Ethics or Please answer the following 34 questions relating to FSA. Or are the questions just randomly spread out across the morning and afternoon session? Also, are there any questions that ask you to specifically identify the correct formula you should use? For example, are there quant questions that say which formula should be used to derive the result? And then they list 4 different formulas. I’m assuming this is not the case. Thanks.
kcin Wrote: ------------------------------------------------------- > The next 12 questions relate to Ethics or Please > answer the following 34 questions relating to > FSA. Yes, this is the layout. > Also, are there any questions that ask you to > specifically identify the correct formula you > should use? For example, are there quant > questions that say which formula should be used to > derive the result? And then they list 4 different > formulas. I recall seeing a question like this that asked the candidate to identify the correct formula for portfolio variance. Questions like this could also be fair game in the quant section. But like you’re saying, this won’t be a prevalent question format, just pay close attention to LOS whose command words include “calculate” and you’ll be in good shape. Basically, there are equations and calculations you simply have to know, so whether you scribble them in the margins of your exam booklet while answering questions, or are asked to select from among the listed equations is really of little difference: you either know the formula or you don’t.
exam layout also states how much time you should allot for the specific section of the exam. i forget exactly how it’s worded though. i skipped around the sections during the exam so it helped me manage my time.
Are the economics questions just text or do they include graphs that you have to analyse and interpret?
there are no graphs on the exam.
I know it is a paper-pencil kind of exam. Are the question papers and answer papers different? Or, do we need to mark the correct answer on the paper given? What is this 2 point pencil (may be a silly question, but never paid attention before)? Thanks
The answer sheet is detachable from the questions booklet. It has a bunch of ovals that you have to fill in (hopefully correctly), with an HB 2 Pencil - this being nothing more than a standard for lead content in the graphite, so you can use whatever pencil, wooden or mechanical, that has the standard concentration of lead.