Hi, I just graduated with a music major with a solid exposure to finance (my sister’s an accountant). I signed up for Level 1 back in March but had an orchestra to prepare for at my university. My friends and parents always agreed that I am very intelligent (scored above average on my ACT’s). They were even saying that I should consider skipping LI and just doing LII, given my aptitude. Is this a good idea? That being said, is it still too late to start, I began reading the first section of ethics on the code and standards and two weeks should be plenty, I figure that’s more than I’ve ever studied for a final, so I should be okay right? Thanks!!!
you can do it! Music and Accounting do share some weird relation. I don’t know about you but when I do Derivatives, I hear bells ringing somewhere (it sounds like swap swap swap).
Thank you for the prompt response. My other concern has to do with some formulas that I saw in the appendix of the quant portion? Is it any issue to copy these onto a formula sheet to be used on the exam? Also, how helpful are the proctors if I should have a question related to LIFO’s effect on CFO? Are they CFA Charterholders?
I think u better ask the CFAI for a permission to consult a chartholder during the exam ,but the deadline is by the end of May so hurry up .
QuantJock_MBA Wrote: ------------------------------------------------------- > Thank you for the prompt response. > > My other concern has to do with some formulas that > I saw in the appendix of the quant portion? Is it > any issue to copy these onto a formula sheet to be > used on the exam? > > Also, how helpful are the proctors if I should > have a question related to LIFO’s effect on CFO? > Are they CFA Charterholders? which formula from quant would you copy down? how to calculate the arithmetic mean?
Didn’t you get the email? There will be no quant on L1 this year. CFAI has to cut the budget too.
Proctors are not charterholders but they are musicians. They don’t do a gig every year on first Saturday of June as they like to work as a proctor @ $10/hr
I have trouble with mean, variance, and standard deviation. Also I forget to use n-1 instead of n more often than not when it is the sample variance. I’m a real good guesser, so questions that may arise on time weighted return vs money weighted return I’ll resort to process of elimination. Thanks for all the help. I better get back to my pdf 2006 Schweser notes.
Quant, I didn’t know what math was until February (I was home schooled). It was tough, but I eventually managed to figure out how to calculate a mode and other challenging mathematical concepts. Considering your high level of raw intelligence (as evidenced by your ability to play a musical instrument), I think it can be done. Best of luck!!!
I’ve already programming all the accounting formulas in my TI-86. I am set!!
DanLieb Wrote: ------------------------------------------------------- > I’ve already programming all the accounting > formulas in my TI-86. I am set!! Too risky in my opinion…something can easily backfire. I’m going old school and blackmailing my proctor for answers.
i would wait until the night before to study. you do not want to burn out with two weeks of cramming. you can do it!
You’ll be fine. Don’t sweat it. Imagine yourself passing with a perfect score and it shall be so. Sleep with the books under your bed. Choices have been reduced from 4 to 3, and you’re a wiz on that triangle so there’s no more to be done. http://www.youtube.com/watch?v=1V1PqbcX_1Y&NR=1 Good luck. Peace.
Am I missing something here? I can’t even tell if these posts are a joke or not?!?! What the hell do you mean skip level 1, lol.??!?!??! Ok, try skip level 1, let me know if it’s possible, hahaha.
What a joke!
It’s true. Based upon my raw intelligence, I was able to qualify for a waiver for LI. They thought it was rather elementary for someone with such a high IQ to calculate such trivial measures as variance and semi-variances. It’s insulting…and to think a baboon knows that semi-variances considers only the portion of the distribution below the targeted return…makes me shudder. Although I am not one to pass judgment on others, I think it is a safe assumption that QuantJock_MBA shares my burden of just being too smart. I will write the CFA institute to share my beliefs in favor of my new found friend. XoXo, V
A music degree is more than adequate preparation for level 1, and considering that your sister is an accountant, I think you have a shot of being the first candidate to score 100%. However, that’s no reason to be cocky. I recommend keeping the books in your bag at all times, and if you really want to be a keener, to open them all at least once. I don’t need to tell an intelligent person like yourself about the basic premise of osmosis, and that you’ll simply absorb the knowledge by being around it. If you’re strong in the ways of the force, that is also helpful
QuantJock_MBA, they give you bonus marks for showing up. So make sure you show up!
I’ll show up. What do we do for lunch and so forth? Can we eat while we take the exam? Which books can I reference for questions? Any CFAI link with procedures/policies for calling a Charterholder for assistance? Please advise! Thanks in advance!
actually theres a buffet table with gourmet cuisine in the back of the testing room. But you do need to be careful and not spill tomato sauce on your answer sheet - i hear that messes up the grading. Pretty sure thats why I was band 1 last year.