After having reviewed FRA I did the CFAI topic tests and the Schweser volume I. practice questions for this topic. My average score was 58%.
Then I reviewed FRA once again, his time from the curriculum, meticulously going through each blue box example and each EOC. It took me weeks. Weeks!!!
I did the a.m. practice questions for a second time and my average score was 60%.
I give up FRA.
It used to be one of my strongest topics in LI.
Not sure how you’re going about it, but in L1 I feel like FRA was really quantitative so that you could memorize the formulas and knock out the problems. I feel like L2 is more theoretical, and the formulas won’t help much without the background. Maybe try focusing more on the concept before you worry about the formulas? Like I said, I am not sure if you tried that already, but it worked for me.
Yes I agree. This is what I lack, the concept, the basics.
What would you say is giving you the hardest time?
Those questions about financial reporting quality and fin. statements analysis and the ones when we have to conclude how some change in the fin. statements or some accounting treatment modifies a ratio.
Like in my parallel question about the understate-overstate thing.
Even if I know the rule, I apply it correctly when it comes to decide how this or that treatment increases/decreases ROA, asset turnover, whatever, overcomplicated with stuff like “if the analyst’s opinion was not correct than it wouldn’t have been etc. etc.”
Though I’m not a native speaker, I don’t think it’s a shortage in English, it’s some general deficit of mine…
In those cases I like writing out what would happen in each scenario, and then looking at the ratios in question and seeing if either the denominator or numerator increases or decreases based on each scenario. Writing everything out helps me a lot. Even if I know something, I write it down because I think I retain information the best when I write it down.
You should see my schweser books… I write notes/definitions in the margins of the pages even when those definitions are on the same exact page haha
Also, if you solve a question and get it right, don’t just move on from it. Analyze the other answer options and understand why they were wrong instead of just knowing why one was right. This will inadvertently increase your knowledge on the topic as a whole.
Thanks for the hints.