Exam Myth

Enjoy! http://www.cfainstitute.org/cfaprog/resources/exammyths.html My favorite: Myth: “There is the right way, the wrong way, and the CFA way.” Although this is a cute saying, it not helpful. The assigned curriculum is academically and professionally sound. (We receive e-mails from candidates on any instance where the curriculum is not tight.) The exam is designed to be sound. The “correct answer” and the “CFA answer” should be the same.

uhm, these are the guys that believe in EMH, right? i guess they left the tech bubble out of their data set.


That’s a classic response from CFAI. I’m sure all of us could point to examples in our working lives where it doesn’t quite work the way the theory predicts but for the purposes of the test I’m going to do my best to come up with the CFAI answer. To be fair, most of the curriculum does seem pretty practical and relatively useful IMHO otherwise I wouldn’t bother spending so much time studying for this exam.

Don’t pick C! Myths: “If you don’t know the answer, pick C.” “If you don’t know the answer, never pick the longest answer.” “Never pick the shortest answer.” “Never pick an answer that includes words like ‘never’ or ‘always.’” Don’t waste your time with these games. There are several well-known behavioral idiosyncrasies of exam writers and exam takers. The CFA exam writers are well educated on these and they are written out of the exam. Tricks will not help you pass the exam. Just give your honest, best answer to every question.

I know!!! I think they are trying to give us a hint!

I actually don’t buy it that they rig the test to fail schweser users. the cfa way is many times the wrong way though.

i wd pick D …since next yr I’m not going to have that option

Will the last D answer is the history of the CFA test be placed in the CFA hall of fame in Virginia?

What a weak reponse from CFAI “The “correct answer” and the “CFA answer” should be the same” They’re just admitting that they are often very different.

Myth: “There is the right way, the wrong way, and the CFA way.” Actual: There is usually a “most likely” and “least likely” way. The “correct answer” rarely exists and therefore the “CFA answer” is not the “correct answer”. QED.