Economics is an area I really have not focussed much on. I’ve been through all the notes on it and read the schweser. I am hoping to just learn a few core things like triangular Arbitrage and try wing it. Need to spend this last month hammering the core areas and supplementing the smaller sections.
To be honest I don’t have great command over the last 2 chps of fra. So a bit worried over it and also i could not solve questions from these topic given on cfa website. Will give another shot to it.
IMO the difficulty of Level 2 is that you cannot afford to go light in any section. If you bomb 1 or 2 vingettes on sections you did not prepare for it could make it almost impossible for you to pass.
This has been my experience with taking mocks and I have gone back to re-reading the few deritative sections that I went light on.
Can we assume that if during the exam a topic area has only one item set (such as Portfolio) then given that sample size is small (only 6 question) failing that topic may have less weight on the overall exam? That is, can I fail portfolio 17% and pass the exam 70% on average?
Risky strategy, better choose strategy of 50-60 % coverage each topic and nail at least 2 of them with >70% than
completely underperform in any and nail all other. My opinion is based on reading results topics from prior examination from resulsts posters.
I also have opinion that average overall results does matter. If many other canididates underperform, chance is higher if you are solid. I would say that passing rate on AF forum is over 70 % on average.
And then all the ones you guess you have 33% change of getting right. Expected probability of guess x number of guesses and who knows, maybe you’ll win the lottery and pass with flying colours
The aggregate score is what matters, no? You could score 0% on 30% of the exam and score 100% on the other 70% and pass.
I don’t think a horrible strategy would be to not study quant, derivatives, PM… Those three section are, at most, 35% of the exam and at minimum, 15%. So, say you are unlucky, those three are max weight and you guess and score 33%. You now have a 33% on 35% of the exam. But, you studied the rest hard and score an 80% on the other 65% of the exam which results in 64% aggregate.