I am a retaker. I’m certain that its the lack of practice (although I did do EOC questions in CFAI books) that resulted in the failure to pass this year. So I thought of buying the Schweser Qbank to get lots of practice for exam in 2012. I know Qbank is good for level 1 and 2, has anybody used it for level 3? Can you share your experience? I know its not meant to be a replicate for the real level 3 exam (given the written section), but I thought the qbank question might be useful for hammering in the concepts and formula. I am finding it hard to remember eveything simply by making my own notes, seems like I spend a lot of time reading CFAI and making notes but don’t feel that I have mastered the topic and certainly don’t think I will be able to retain all the info from now till June next year. Further, what other sources are you guys using for practice questions and exams (other than CFAI)? Is doing EOC questions and past year exams from CFA website sufficient? Any comments and input is greatly appreciated! Thanks.
Based on my level 2 experience, I feel that CFAI EOC and past year’s exams should provide more return for time compared to Schweser Qbank. I did not do Shweser Q bank for level 2, and my decision was based on negative comments about qbank in analyst forum. I think that the same might hold true for Level 3 as well.
From my experience , as a charterholder , i see no use of using qbank for level 3 . it is a waste of time and money . i would say spending more time digging into the CFA books and do not limit your study to the EOC only go more into details and examples inside the chapter , these are very useful. Good luck
I thought QBank was useful for Level 3. True, QBank does not replicate the L3 test format. However, since QBank lets you answer many questions in short amounts of time with immediate feedback, it helps you to quickly identify the sections of the curriculum in which you don’t know everything. This will help you to target your study time on your weak sections, rather than re-reading things that you might already know.
Wow…what a revelation that someone would suggest digging deeper into the readings using the examples and details from the CFAI text. Finally!!! It’s also a recommendation from the CFAI in the “How to USE the CFA Program Curriculum”, yeah, those guys who conduct the exam!!! Daaaaaaaaaaaaa…Lookout, someone might suggest writing/taking notes while reading the CFAI curriculum. Could get scary around here!!! Maybe it is a good thing that we have one less 3rd party prep company!