For anyone that is retaking the exam, how close in difficulty would you say the mock exams are to the actual exam. Are the more tricks on the exam? Must you know precisely the bullet point or will an answer that demonstrates your knowledge suffice?
Are you referring to the exams that the CFAI provides? Those are not mock exams, those are prior exams given to actual candidates. They are by far the best source of material available and will look nearly identical to what you see on exam day.
If you’re talking about Schweser or other providers mock exams, well, they’re useful but you can’t beat the real thing IMO.
In terms of grading, you obviously do not have to reiterate word for word what is in the guideline answers, but there are certain keywords that must be there to ensure full credit. The guideline answers generally provide more than is required to get full points
Thanks Itj! I hope if they ask a question about say early retirement and its impact on GDP and I put it will impact the labor component of GDP negatively and the guideline answer keyword is “labor participation rate” they will still give full credit.
I’d venture to bet that it’s less about getting the exact wording correct and more about showing, with whatever words you choose to use, that you understand the concept and its implications and that answers the question being asked.
So close, they seem real.