chadtap Wrote: ------------------------------------------------------- > Dinesh… > Regarding the vignettes, try to remember that the > questions typically go in order of info within the > vignette… > > Q1. is typically the within the first couple > paragraphs > Q2. next couple paragraphs and so on… > Is this true for CFAI or just for schweser? > Really its not too bad if you skim over the > reading at first and then go through each question > paragraph by paragraph… > > Goodluck…Im sure you will be fine!
so far its been true involing the CFA mock exams… I would assume they would keep the same format
Thanks chadtap, for the info. I was thinking it was scattered all over the place.
3 letters… I think the CFAI has deemed me AVERAGE! 
The best is the feedback though… it’s like they kick you and then they give you a hug also for the effort. i have no clue what someone who hasn’t studied like crazy would get on one of these. maybe the same as me? Score 50% You failed this assessment exam 50% Required Score: 70% Recommended Score: 70% Feedback: You correctly answered less than 70% of the questions on this sample exam, which suggests that your preparation and study to date has been effective and that you should undertake additional preparation before taking the actual exam. Your performance on this sample exam, however, should not be used in any way to predict your performance on the actual exam.
I would say most of the people here in AF world took the IInd exam and have scored in 50s. I think that would be passing mark for this exam. I remember even in L1 there was one exam out of five which killed everyone.
http://www.analystforum.com/phorums/read.php?12,707788,707788#msg-707788 hopefully this will make you guys and gals feel a little better
Banni - you are far from avg…an outlier if you will!
i don’t know, bannis. in some way, i guess i’m relieved that i wasn’t the only one who thought the test was extremely difficult. then i think, what if the real test is like this? i’m starting to hit freak out mode. they still haven’t gotten back to me about that error. but i’m 95% it was an error and 100% sure it was asked twice. well, think the hightest score i’ve seen is a 70 on that second exam… what are they going to do, fail everyone?? no. or. i hope not.
finally I can contribute with something, the WC inv had to be derived from the balance sheet, using change in current assets (excluding cash) and change in current liabilities. I dont have the numbers but basically that was the principleof the thing, still only got a 56
so what is change in working capital then- change in CA - change in CL (not including cash)? sorry for the basic questions… i obviously don’t have my FCFF/FCFE stuff in a happy place yet. FCinv is change in ST and LT debt, yes? new debt issues - repayments? it’s really annoying that we can’t go back and look at the actual problem- i’d love to work through those numbers. oh well.
I hear you, wish I could work on it a little more also. I try to se it in a logical sense: inventories, acounts receivable and I am almost sure of other current assets, if they increased that means you had a requirement of cash, as for changes in current liabilities if they increased that means you have more cash, you dont consider cash because that is the variable you are searching for in terms of cash generation. as for Fixed inv. I thought they gave you the data on that one, I am not sure if it can be done for FI Inv because you can change your debt for dividend payments and repurchases and those are not FI Inv.
Sorry to just jump on the thread like this, but are you guys talking about the online sample (I believe there are 3 of those and one of them being free. 120 mins lenght $40 each) or are you talking about the online mock (2 of those, $60 each or 100 both 180 mins). Well.... just took the online mock #1 and scored 58%. This is on my 3rd trial. What the F!@# is wrong with me. So demotivating. I am honnestly considering avoiding a 3 humilation in a couple of weeks…
the “sample” version 2 is the one…
Great… according to the CFA website, those sample exams are supposed to be taken ‘earlier’ during the preparation… so if the sample are already that hard, that paints a not too rosy picture of what’s to come…
maybe we will all be pleasantly surprised and the real exam will be easier than the practice ones!!!
yeah, right!
BTW, I know I should probably be using the famous search function, but has anyone taken the first online mock?
The general definition of Working Capital is CA-CL, but with the free cash flow you exclude (cash & cash equiv from CA) and (Notes Payable…i.e. ST Debt & Current Portion of LT Debt from CL). So to get the change in WC for the equation I’d to [(CA - Cash & Equiv) - (CL - Notes Pay & current portion of LT)] period t…minus the same thing for period t-1. If anyone has the screen capture for the question, I’d suggest running it through my equation and see if it comes up with the correct answer (it should).
Finally took CFAI Sample exam version 2 Ethics: 4/6 Valuation: 5/6 FI: 4/6 Derivatives: 6/6 Port.: 4/6 Overall: 76.67%
hey great score kabhii…! you seem to be nailing your exams!