any input/suggestions on this…here’s a little background of me. i’m series 7/66 since 2004. i am a financial consultant at a major regional bank. i basically sell cd’s mm’s, mutual funds, fixed & variable annuites for clients, and have a strong understand of loans, interest, investments, annuities, etc… i just decided to embark into the CFA program a few months back and sit for level 1 in dec. i paid my dues and recieved my CFA curriculum last friday. i blew through the first readings on ethics and GIPS. i’m talking like 175 pages in four days and felt i understood it pretty well and was interested the whole time… now, i’m on the time value of money, (roughly page 175 of the first reading) and feel like i’m hitting a huge sticking point. the main prob i’m having now is computing FV and discounted PV given a certain rate, period, and compounding periods on the HP 12c. i now have to study the way this calculator works and how to input the data correctly to get the right answer and i feel like i’m not busting out the material like i was…anybody else remember running into this “sticking point” and if so, how did you best overcome it??
read the manual. if you spend enough time with the manual, calculations will not be a problem. i have a baii, but i heard the hp12c manual is really good.
I would spend time to understand the calculator…then you wont run into issues. It will help to learn to use the various sheets as life will be easier on problems… If u can find someone who knows that calc, even better
I had the same problem with the calculator, I spend 30 minutes and its pretty easy my friend.
Drop the HP 12-C and get the TIBAII pronto. If you were born in the late sevties or eighties it will be much intuitive to use because it works similar to the calculators we grew up using in grade school, HS, etc. Reverse polish notation suck IMO. Some people swear by it, I hate it.
http://www.schweser.com/cfa1_introduction.php?new_level=cfa1 Register at Schweser and they have a free calculator walkthrough for most of those problems. Get the BAII Plus/Pro likewise.
Hi choate, problem of this exam isn’t the calculator or the depth of questitions. It is just the quantity, the quantitity and the quantity of things you have to memorize. The calculator will be your best friend - soon.
What’s important is to save the post. In a few years, you will look back on the pair of statements: "have a strong understand of loans, interest, investments, annuities, etc… " and " i’m hitting a huge sticking point. the main prob i’m having now is computing FV and discounted PV " as utterly contradictory. The fact is that you know almost nothing about loans, interest, investments, and annuities. The good news is that you can learn and there is lots of help here.
I would review ethics and learn your calculator. Then order flash cards from KAPLAN and consider getting the SECRET SAUCE. 2 weeks left.
JoeyDVivre Wrote: ------------------------------------------------------- > What’s important is to save the post. In a few > years, you will look back on the pair of > statements: > > "have a strong understand of loans, interest, > investments, annuities, etc… " > > and > > " i’m hitting a huge sticking point. the main prob > i’m having now is computing FV and discounted PV > " > > as utterly contradictory. The fact is that you > know almost nothing about loans, interest, > investments, and annuities. The good news is that > you can learn and there is lots of help here. HILARIOUS!
Thanks. And Joey, i do have a strong understand of loans, interest, investments, annuites, etc. i have software at work that calculates it all for me through spreadsheets and databases. i obviously can’t use those tools on the exam! i have to use a financial calculator and that is my problem… not being able to correctly use a financial calculator. Before you critisise someone on how much they know, maybe you should read the question throughly. if i didn’t have any understanding of how it works, how could i pass the 7 & 66, get employed by a major bank, actually sell their products, and build a book of business. u think i’m just lucky? i don’t typically calculate FV, bond price to yields, and loan rates by hand or using a HP or TI calculator. maybe you should spend some more time studying your CFA material instead of telling people they “know nothing”. and if i’m on here in two years reading my old posts, i will let you know how i feel at that time.
choate05 Wrote: ------------------------------------------------------- > Thanks. And Joey, i do have a strong understand > of loans, interest, investments, annuites, etc. i > have software at work that calculates it all for > me through spreadsheets and databases. i > obviously can’t use those tools on the exam! i > have to use a financial calculator and that is my > problem… not being able to correctly use a > financial calculator. > > Before you critisise someone on how much they > know, maybe you should read the question > throughly. if i didn’t have any understanding of > how it works, how could i pass the 7 & 66, get > employed by a major bank, actually sell their > products, and build a book of business. u think > i’m just lucky? i don’t typically calculate FV, > bond price to yields, and loan rates by hand or > using a HP or TI calculator. maybe you should > spend some more time studying your CFA material > instead of telling people they “know nothing”. > and if i’m on here in two years reading my old > posts, i will let you know how i feel at that > time. Joey studying CFA material…Joey have you read this one?!’ It is a very good one! LOL
Shhhhhh strangedays…don’t distract Joey from his CFA Level 1 studies… you know his wife will kill him if he fails it yet another time.
bostonkev Wrote: ------------------------------------------------------- > Shhhhhh strangedays…don’t distract Joey from his > CFA Level 1 studies… > you know his wife will kill him if he fails it yet > another time. ahahahh 
Hi chaote, before handling with joey you should a) read the Dr. Aldershof thread. b) be sure that you don’T want to join the joeyd fanclub. And… Joey is a Phd and has a really good reputation at this forum. He didn’t mean to hurt you. The comment is just “Joey”. Cheers cfaisok ------------------------------------------- Joey, you and me we have something in common. Some people feel offended by our words… So don’t pick on the others! Cheers, cfaisok
P.S. Joey, you were not too nice to chaote.
Oh come on that was totally called for. By the way Chode, looking for respect on this forum by stating things like “how could i pass the 7 & 66, get employed by a major bank, actually sell their products, and build a book of business. u think i’m just lucky?” will not do much for you considering the 7&66 are jokes in themselves(I have both), being emplyed at a bank is no cause for applause, and selling products shows that you sell, what does that have to do with intelligence? Nobody thinks you are lucky for doing all those things, just that you are average. Also, tear away at anyone you want, but Joey is like the Godfather around here for some reason(it is strange), but yelling at someone that has been helpful to every other person here is gonna get you as far as that calculator has gotten you. Take the advice, read the manual, leave the Series whatever talk at the bank.
My apologies to the GodFather. Just venting…
You dont need toworry at all buy TI plus pro calculator (costlier one) read mannual slowly several times read reading 2 & 3 from schweser study material they have given step by step guide to calculate everything you will be able to solve all poroblems using calculator
choate05 Wrote: ------------------------------------------------------- > My apologies to the GodFather. Just venting… You don’t have to bow, even not in an ironical way. “Godfather” could say something nice to you, too. (Most of the time joey is a nice guy) ---------------------------------------------------------------------------------------------------- Patterns her in the forum are always the same. Somebody makes agression to joey. Others assist Joey. In the old “eays quant thread” I said something opposite to Joeys oppinion, everybody tried to kill me. One guy wrote “You will not convince a PhD, if neccessary I will assist him…” Two posts later Joey admitted that I was right. And the discussion with the others went hot. After I had a good “standing” somebody “helped” me in arguing. But instead of arguing right he just repeated some offtopic stuff - showing that he didn’t read the thread properly. It’s quite funny to see how some people were sent to a too hot bathing water when they were younger…