Does anyone know if there is more detail available on the various weightings than what’s on the CFA institute website? They tell you that 45 - 55% of the exam will be on “portfolio management and wealth planning” but that’s obviously a huge range, and covers a lot of the topic areas. Is there any clarity on what % will be behavioral finance vs. Capital Market Excpectations vs. the other Study Session? Thanks
CFAI Website
thanks - can you tell me where? All I’ve been able to find is this link, which doesn’t break out into more detail for that 45-55% chunk. Since there are 10 Study Sessions that fall under the header of Portfolio mgmt and wealth planning, I’m just curious if they give you any more detail on that… thanks! http://www.cfainstitute.org/cfaprog/courseofstudy/topicareaweights.html
I’m pretty sure that’s what he was referring to. I found looking up the old exam results helpful, but honestly the only thing this suggests is that ethics will be 10% (which we already knew), equity will have at least two vignettes and possibly an additional essay, and there will be at least one individual and institutional essay - otherwise, looks like everything else is up to the whims of the CFAI. 2009 Essay Q# Topic Max Pts 1 Portfolio Management - Individual 26 2 Portfolio Management - Individual 9 3 Portfolio Management - Institutional 24 4 Portfolio Management - Institutional 11 5 Economics 19 6 Portfolio Management - Asset Allocation 10 7 Equity Investments 17 8 Alternative Investments 15 9 Portfolio Management - Risk Management 16 10 Portfolio Management - Monitor&Rebalance 15 11 Portfolio Management – Performance Eval. 18 Item Set Q# Topic Max Pts - Derivatives 18 - Economics 18 - Equity Investments 36 - Ethical & Professional Standards 36 - Fixed Income Investments 36 - Portfolio Management 18 - Portfolio Management - Individual 18 2008 Essay Q# Topic Max Pts 1 Portfolio Management - Individual 36 2 Portfolio Management - Individual 9 3 Portfolio Management - Institutional 36 4 Portfolio Management - Asset Allocation 17 5 Fixed Income Investments 13 6 Alternative Investments 11 7 Portfolio Management - Risk Management 17 8 Portfolio Management - Execution 14 9 Portfolio Management - Monitor&Rebalance 9 10 Portfolio Management – Performance Eval. 9 11 Portfolio Management Item Set Q# Topic Max Pts <=50% 51%-70% >70% - Alternative Investments 18 - Derivatives 18 - Economics 18 - Equity Investments 36 - Ethical & Professional Standards 36 - Fixed Income Investments 36 - Portfolio Management 18 2007 Q# Topic Max Pts 1 Portfolio Mgmt.–Individual 33 2 Portfolio Mgmt.–Individual 20 3 Portfolio Mgmt.–Institutional 12 4 Portfolio Mgmt.–Individual 14 5 Portfolio Mgmt.–Institutional 23 6 Portfolio Mgmt.–Institutional 23 7 Portfolio Mgmt.–Institutional 13 8 Portfolio Management 14 9 Portfolio Management 9 10 Economics 19 Item Set Q# Topic Max Pts <=50% 51%-70% >70% - Alternative Assets 36 - Derivatives 18 - Ethical & Professional Stnds. 36 - Fixed Income Analysis 36 - Portfolio Management 36 - Quantitative Analysis 18
Boston, it’s the same drill as for LII. You won’t know with certainty until your exam proctor says “you may now begin.” Think of it as CFAI’s fun little surprise gift to you.
^ Exactly. Just know everything b/c you have no idea what they’ll throw at us come game day.
That’s what I figured, but was hoping there might be a bit more clarity! Thanks for your help all
Good advice above. I would also note that GIPS is considered PM and it will be at least 5% of your exam.
Remember that the CFA LIII exam really is about portfolio management so dont get deceived into thinking that they wont incorporate other subjects and relate them to portfolio management in the essay questions. One topic that comes to mind is asset allocation. They could easily get more complex in the essays and test FI and Equity under the institutional investor, wealth management guise. I am finding that in this exam, as opposed to LI & LII, you really need to understand the concepts fully and how the whole curriculum interacts with each other. I think if you can do that, you can pretty much kick ass on the essays (assuming you manage your time right). The multiple choice will the be financial trivial pursuit like the other two.