feel a bit betrayed by Schweser. I mean, I am realistic in that they cannot nail the exam topics, but I definitely knew their curriculum and felt like I didnt know squat on the exam. thank goodness I reviewed the FSA and Equity CFAI texts or else I would have never gotten that Cash Collections one. next time around I will be doing more CFAI text questions. this was my own fault. i will still get Schweez tho.
Have to disagree. I used only Schweser only and felt it more than prepared me. I sorta feel that I overshot it. The only thing I have to agree with you on was the Cash Collections one, I dont think Schweser covered that.
wow. thats actually the exact question i had in mind with that one. also the ECN trade question, but i knew that anyways. thats interesting you feel like that. you must have a greater ability to grasp concepts than i do.
I had no clue about the ECN. I got 70,000.
what is the formula for cash collection? I thought it was Revenue - increase in AR + Decrease in Unearned Rev or something
sales= cash coll+increas AR- increase deferred rev
I think schweser screwed me a bit too. It covered the core, but felt cfa asked all these ancillary type questions. Its like for example I know jupiter and my way around it perfectly well. But then it was all about the moons that surround it!!!
not necessarily. I talked to someone who only used CFA material and he found it tough too
Wasn’t cash collection on L1?
i used the CFAI material only … exam was harder than last year’s FML
if i fail it’s because i was too careless to pay attention to the little nuances. there were fewer than 5 questions on the whole exam that i realistically couldn’t figure out, the rest of my mistakes came from carelessness.
Schwesser Quant was bit off from exam. Cash collection is from level 1.
SMEKA23 Wrote: ------------------------------------------------------- > Schwesser Quant was bit off from exam. Cash > collection is from level 1. cash collection L1 did not include changes in unearned revenue
what were the other choices in that ECN question, anyone remember?
Cash Collections = 22500?
No, I believe that was the middle answer and was one of the distractors if you only adjusted for the change in A/R or only adjusted for the change in unearned revenue - if you did both, I believe the correct answer was ~20,500. Can’t believe I’m so bored that I’m doing what I said I wouldn’t and answering individual questions. As an aside, I didn’t recall cash collections from Schweser, but it wasn’t very hard to figure that formula out if you know what you’re doing on FSA.
skills is right the answer was like 20,207 exact which was closest to 20,200. Also Schweser sucks and always will suck feel free to see any of my posts prior to the exam (I rip on Schweser in most of them!).
well i think it is fair if you are willing to spend time on CFAI’s long material that you should get repaid by getting slightly better score… in a way schweser is a short cut and thus there is no way ti can cover 100% of CFAI textbook… but if u put in the amount of time it takes to study schweser, you definitely won’t have enough time to go through all of CFAI. So in finance we have sharpe ratio, in cfa studying there is a schweser ratio!
Doing some research, it seems like every year there’s a couple of threads that come out bashing study providers and blaming them for said person’s (possible) failure. Seems immature to me, and perhaps all would be better served if they took some personal accountability for their actions. Not trying to bash anyone or call anyone out, but the title of this thread kind of says it all – in my view, it should be “If I Didn’t Pass, It’s Because I Didn’t Score Well Enough On The Exam As Compared To Others”. I’m pretty damn sure I passed, but if I didn’t, it certainly wasn’t Schweser’s fault; that much I know.
cfaboston28 Wrote: ------------------------------------------------------- > Cash Collections = 22500? The lowest one, Answer A. Cannot remember exactly the number.