I hate the term "Least likely"


Seconded. However, my favorite CFA hate word as of now is “reflected”. As in “gains/losses from blahblahblah are REFLECTED in the balance sheet”. As in me wondering “now I know they mean other comprehensive income, which is in equity, however by ‘REFLECTED’ do they mean just CI, which is the result of the various gains/losses added together, or do they mean the actual gain/loss, which will only be shown on the statement of changes in stockholders equity?”. I am so pi$$ed about that question.

Consider “least likely” to mean “really false”, and “most likely” to mean “really true”, and you’ll be fine.

They should focus on testing concepts rather than trying to fail thru such usage. I guess in their SOPH they do mention that one should make disclosure unambiguously in plain English. Well, Least and most likely are surely plain but convoluted not plain I would imagine. S

Haha, not like research will use those words. Should be more pertinent to how you would come across problems in real life.

I made myself underline each Least Likely or Mostly Likely so I wouldn’t forget after reading all the answers. haha.

In real life, do you have to remember formulas? You don’t…no employer will insist that you remember a formula, as long as you know how to use it What CFAI should do (IMHO) is publish a formula sheet with its exam textbooks and to include it as supplement in the exam. The format of the forumula sheet is fixed, and you know where everything falls. This makes more sense, although some people may or may not prefer it like that. CFAI benefits, by the way, by being able to ask questions that today they cannot ask because they no candidates couldn’t remember the required formulas. But if they spell out all the needed formulas, you would be able to tackle more challenging questions. That’s the bad side for some people, but it is more logical I think. What do you think?

i think knowing the formula gives you a deeper understanding of what its measuring. portfolio standard deviation, for example: if correlation is less than one, then portfolio standard deviation is less than the weighted average of individual assets standard deviation.

i just thought there was a lot of trivial pursuit instead of testing what the prep courses said were the “IMPORTANT” concepts