I’m a retaker and have always read on here that CFAI EOC questions are the best way to prepare. Last year I drilled and drilled and drilled Schweser mock exams and end of chapter readings from Schweser and failed in band 9. I was very surprised as I did very well on the Schweser tests and on the CFAI sample and mock exams.
So this year I have decided to start trying CFAI EOC questions but I find them highly annoying compared to Schweser questions. What I do is I read the Schweser text and then attempt to answer CFAI EOC questions but I hate that a lot of them are short answer and almost none of them are multiple choice like the exam would be.
So do you guys actually do all of the problems including the short answer, do you only do the multiple choice questions even though there are few, or is there some other strategy? Also, they’re extremely difficult, so do you refer back to the text when you answer or do you kind of treat them as a test when you’re going through them and try not to look anything up?
use them as a learning process. If you do not fully comprehend what is going on, maybe you need to read the text to understand the context. though they are not all multiple choice - there are some learning concepts to be learnt there. I found the CFAI material - when I prepared for the Level II - with them (after failing after using Schweser one time) that there is a repetitive nature in the narrative - something the CFAI reading definitely wants you to know. hence though you might find it irritating, and convoluted - reading thro the material at least once prepares you better.
the EOC questions are specifically designed to check you know the material in the chapter. Obviously it’s harder to answer a question that’s not multiple choice, but it’s a much better way to check your grasp of the material (i think). I try to answer the questions without looking stuff up. I do about 5, then check the answers to see how I did, and read over the explanations of the answers. If I genuinely have no idea, I flip to the answer, and then go back and try to do the same question again, to check I’ve understood the explanation. I have found with the CFA questions, there’s very little repetition. ie each question tests something different. whereas the Schweser questions drill you on the main concepts, which is helpful, but tend to cover the same ideas over and over, and don’t expand out so much into the more random stuff.
I don’t know if this “proper” but here’s my take. Feel free to critique: Going through the readings, I try to do all the examples and use those to learn and reinforce the concepts. Then I’ll finish the reading and go to the EOC questions. For the non-item set questions, I’ll try to solve all those but refer back to the reading if I get stuck. The emphasis is on learning the material. For the item set EOCs, I’m trying to simulate taking the actual exam. So, I’ll sit down and try to push through all of them. I don’t refer back if I get stuck or I’m unsure or whatever. Afterwards, I’ll review every question, right or wrong, and make sure I got it right for the right reason or see the error that I made.