behavioral finance put me to sleep, and now i’m doing this stuff… doesnt it get any better?
Don’t kill yourself memorizing those formulas. The taxes problems are essentially TVM calcs with a change to the i input. Can’t really say if it gets “better.” I would say “no”, but each person has his own interests and strengths.
honestly the formulas are killing me a little bit… and on to estate planning, more formulas… this seems way more formula heavy than L2
The way they asked tax problems in 2010 exams, not many were able to do it.
I remember when all these tax formulas were still in L2. I took it that year, it wasn’t fun. Now, I passed L2, but the taxes formulas have followed me…
At first I thought this was an anti-Obama thread.
pupdawg82 Wrote: ------------------------------------------------------- > The way they asked tax problems in 2010 exams, not > many were able to do it. That question ruined me. I remember reading the info and thinking to myself, “I am going to crush this question.” Then the grid was presented and I was sunk. There was nothing in that question that in and of itself was too difficult. The format was brutal. Oh well.
pupdawg82 Wrote: ------------------------------------------------------- > The way they asked tax problems in 2010 exams, not > many were able to do it. But you still need to memorize it because it appears in both AM and PM sessions, some are difficult, some are easier. Make sure you don’t lose points on the easier one. I left taxes, estate planning, ethics, GIPS to the last because all these require short term memory.
If you grasp the logic behind the formula you won’t have to memorize. I didn’t mermorize a single tax or estate management formula but what I did do was understand the logic and practiced all EOC questions. If you’re curious to find out, yes, I did pass Level 3 and on my first time.
goes to eleven Wrote: ------------------------------------------------------- > pupdawg82 Wrote: > -------------------------------------------------- > ----- > > The way they asked tax problems in 2010 exams, > not > > many were able to do it. > > > That question ruined me. I remember reading the > info and thinking to myself, “I am going to crush > this question.” Then the grid was presented and I > was sunk. There was nothing in that question that > in and of itself was too difficult. The format > was brutal. Oh well. Same here. I wasted quite some time on my attempt to understand the question coz I thought I know about taxes. Didn’t have enough time left for the morning session after that and got my FAIL sealed with that. Won’t let that happen again. Hopefully…
Butt Wrote: ------------------------------------------------------- > If you grasp the logic behind the formula you > won’t have to memorize. I didn’t mermorize a > single tax or estate management formula but what I > did do was understand the logic and practiced all > EOC questions. > > If you’re curious to find out, yes, I did pass > Level 3 and on my first time. Agree with Butt. Started with this reading 15 lightly this week and know doing some concept checker problems. Initially formulas looked horrible but if you know the intuition behind each scenarios, formulas are not that bad.
Personally, i didnt try to memorise the formulas. If you can understand the process, the penny will drop. Start early on the tax problems. You don’t want to be stressing over this in your final few weeks of exam prep.
LOS 23 (SS6) appears to be pretty awful - just starting now
I remember those formulas, they were a PITA to memorize.