IFT Mock Exam for CFA Level 2 Exam for June 2018

CFA Level II
#1

Hello All,

Does anyone know if IFT CFA Level 2 Mock exam for June 2018 is exactly same as last year’s 2017 Mock Exam by IFT (IFT CFA Level 2 Mock exam for June 2017 Exam) or does it have all different item sets and different questions?

Thanks a lot

#2

I orderd the IFT mocks yesterday and did the first one… The questions are almost identical to the CFAI online practice questions. Some of the questions (like the ethics story) I knew the answers without even reading the vignette… Scored a 90% on the AM and PM…

So I wouldnt recommend them for their mocks.

#3

Hey,

So regarding this same test, I also think that one of the FRA questions was wrongly solved. Am talking about the profit on HTM after selling them off. The profits calculated on the CV(amortized cost) but I think he’s done it on the PV of the bond. The questions on the PM session.

Let me know what you think.

#4

Yes, I think it didnt include $30 amortization… they took it straight as carrying cost minus selling cost.

#5

Thanks a lot.

#6

Thanks a lot

#7

I did the tests and don’t remember facing this issue.

Can you please tell me which test and number so i can check again ?

Thanks

#8

Agree

#9

This is question 26, Exam1 PM. They calculated the realized loss but didn’t factor in the amorization of the bond. Not sure if its right or not, I was assuming the answer did it right but not sure.

#10

Had another query. In the PM session q13 regarding the dividend policy, why would you call it a stable dividend policy when dividends have actually been growing ? Is this an errata or am I missing something ?

#11

That question has it right. Stable dividend policy means the dividend is around the same price and can actually creep up a bit, and that it is unrelated to the actual EPS of the company. Most public companies that pay dividend use a stable policy.

#12

Figured it out. Thanks.

#13

IFT just confirmed that there is a repeat of 20% to 80% in IFT CFA Level 2 Mock exam for 2018 when compared to IFT CFA Level 2 Mock exam of 2017.

#14

Hmm, I ordered their full study packet and I just took the AM mock Exam 1 and I didn’t see questions identical to CFAI. Did you buy JUST mocks or the full study package? Maybe they are different…

Ive done all CFAI topic tests and online practice questions…didn’t notice identical similarities.

#15

Was your file titled “Level_II_2018_IFT_Mock_Exams.pdf” ?

The very first case senario was “Minenhle Talbot Case Scenario”?

I’ve been scoring 92-96% on IFT mocks because all the questions are so familiar. Even on the mock the mock disclosure alludes to the fact they are just copied questions from CFAI.

This document should be used in conjunction with the corresponding reading in the 2018 Level II CFA® Program curriculum. Some of the graphs, charts, tables, examples, and figures are copyright 2017, CFA Institute. Reproduced and republished with permission from CFA Institute. All rights reserved."

#16

So the exact answers too?!?! As in, Question 34 of mock equals 123 then corresponding Question in CFAI also equals 123? Or are you saying that the format and types of questions are identical or very similar but have completely different answers?

#17

The vignette story are identical but the names have been changed… For the ethics problem, its the same questions and answers choices. For math related questions, they changed some numbers around. If FCFF is $500M, the ITF version is $450M…

Question: Is the proposed compliance officer structure for McGowan consistent with the CFA Institute Code and Standards?

A. No, with regard to policies and procedures.

B. Yes.

C. No, with regard to coordination with legal.

I can already tell you the answer is A, without reading the vignette… I’ve read this story about 5 times now lol. McGowan is a new hire and he needs to redo the policies and procedures , that were created at the inception of the company. I think the CFAI version only uses a different name…

#18

Ah okay, well I mean for Ethics yeah that is a dead giveaway lol but if for calculate and interpret questions, I assume you will still need to know the formulas to come up with the correct answer since the numbers aren’t exactly the same.

I was just wondering because I took the Exam 1 AM session just now and scored a 74 with their only being that first vignette on Ethics. That being said, and because the concepts are tested and not just remembering numbers to answers, I am hopeful my score is reflective of a real life exam scenario.

Somewhere in here I have read of people claiming they have taken 10 plus mocks and scored over 70 each time but failed the exam. Highly doubt that. I maintain that if you take that many mocks, with NO cheating, going over the time limits etc. and score like that, you will pass. But who knows.

#19

there*

#20

I ddnt understand their reasoning for stable dividend surely everywhere else when you see 52% 50% 50% 50% they call it constant dividend policy