This is what they do. for instance, last year, they surprised everyone with Treynor Black. This year, they surprised everyone with a few things. Capital account calculations were a bit of a shock but well within the boundaries (of course anything is but you know what I mean), but more importantly, in the entirety of the Portfolio management section, with all the various important and weighty topics, the best they could come up with was three questions on short selling and its effect on the MVF? I actually thought the test was a bit harder than last year. There were fewer “gimme” questions and the afternoon section equity and FSA parts were harder than just about any equivalent section last year.
I also thought three questions on contango/backwardation was a bit much.
swaptions were a bit of a surprise as well
i got like 4 D’s for the options vignette.
I agree… I would’ve killed last years exam. Now I’m thinking I might be in line to do this stupid thing for a 3rd time. Spent xtra time wiring the equity valuation models, quant, and portfolio, only to get blindsided by petty level I questions, that granted I should’ve known, I wasn’t overly confident on.
As compared to last year, I think there were sections that were hard, swaptions, but overall it wasn’t a bad exam. @ Slash about the 4 D’s I noticed a bunch of D’s, maybe they were “using them up” as this is the last year for 4 answers lol
are they moving on to 5 answers?
Slash Wrote: ------------------------------------------------------- > are they moving on to 5 answers? 3
maile Wrote: ------------------------------------------------------- > Slash Wrote: > -------------------------------------------------- > ----- > > are they moving on to 5 answers? > > > 3 Really? Where’s this published. I had no idea.
This exam was much tougher than last year, only suprise really was TB, this year all types of sh&t coming out the woodworks, if you’re into Where’s Waldo, like GIM only on one page out of the 6 volumes, then you’re in luck. Any first timers who pass this exam, kudos to you , because you are as we say in the business, the SH&T
last year’s exam was more difficult in my opinion. everything on the test was fair, unlike last year. plus the ethics were ridiculous last year
glendronach Wrote: ------------------------------------------------------- > maile Wrote: > -------------------------------------------------- > ----- > > Slash Wrote: > > > -------------------------------------------------- > > > ----- > > > are they moving on to 5 answers? > > > > > > 3 > > Really? Where’s this published. I had no idea. http://www.cfainstitute.org/cfaprog/courseofstudy/questions_faq.html