Does anyone remember the episode of Married with Children where Kelly makes it to a game show? Al wants to make a lot of money, so he crams her head w/ trivia for hours on end. Finally, she short circuits and he realizes her brain’s full and stuff she knew before is coming out, so he stops. When she gets on the show, she nails every ? until the end, when she wagers all her winnings. Of course the ? was, what Polk High star score 4 TDs in a single game? She couldn’t remember (Al of course) and lost everything. So that’s where I’m at, except my ratio is more like 2 things lost for every 1 put in. Today I reviewed almost all Schweezy’s asset valuation, and I probably lost PM and derivs. I saw Nib’s FRA post and was like…hmmm those things sound interesting, whatever they may be.
i think that’s why you have to give up on a few specific areas… but pick them wisely.
Do you think I can give up on Corp Fin? For some reason it’s kicking my a$$.
sterling76 Wrote: ------------------------------------------------------- > Do you think I can give up on Corp Fin? For some > reason it’s kicking my a$$. it’s more like portions… not entire subjects.
emerging markets… scattered highlighting is all I’ve got there.
If there is a complicated EM vignette I think we’re all screwed.
I gave up on franchises…couldn’t remember either of the FF formulas after 3 times reviewing. FSA and EV are the most heavily weighted.
I would pick up on that FF formula again because you can bet it’s going to be on the exam (part of equity).
Try writing the formula repeatedly until it sticks. Usually works for me.
I reviewed this q about Franchise P/E where the following was the answer: Intrinsic P/E = Tangible P/E + Franchise P/E so Franchise P/E = Intrinsic P/E - Tangilble P/E Franchise P/E = (1-b)/(r-g) - (1/r) -none of this was in my notes. I had: franchise = FF x G = (1/r - 1/ROE) x (g/r-g) The P/E stuff cam out of nowhere so I’m inclinded to not bother because its pretty confusing and FI is waiting.
We had a review teacher who gave helpful advice. She basically said: Go into the test knowing 50% of the material cold. (So like, Equity, Ethics, Fixed Income for example would pretty much get me there, give or take.) For the other 50%, know enough that you could eliminate 2 of the answers. Then you have a 50/50 chance if you guess. Assuming you get all of the first 50% right and half of the second, that’s a 75% right there = PASS. I know that’s simplistic, but it’s actually helped me focus my studying efforts somewhat on the major important areas while also making sure to practice some of the other areas enough that I would have some level of understanding. I think that is what the Question Bank is best for - just hammering away over and over at tougher areas. (For me that includes certain sections of FSA as well as Study Session 13 I think it is - the one with Residual Income and Real Estate - as well as just going over the annoying qualitative Portfolio Management questions until I can’t see the letters C A M L or P ever again.
kbakes - I agree completely. I had this ridiculous (sp?) feeling after the L1 exam - there were these formulas that I knew cold, but didn’t show up on the exam. Soooo many… Repetition is key, too. The less time you have to think about how to get the answer is more time you can put to reading the insanely long ethics q’s they give you. I remember one from L1 taking up the entire page.
mar, did you take L1 last June? My biggest problem with the test was just what a mind-fuck it was. For example, I think they had, practically verbatim, the same exact PM question in the morning and afternoon sessions. I was sitting there trying to decide if I should go with the same answer as in the morning or if I should hedge my bets and pick something else. Not what I should have been focusing my time on! And I also just hate the way they use double and triple negatives everywhere. “All of these adjustments are unlikely to decrease the ratio except…” or, “Jones makes two statements and Smith disagrees with one. Was Smith incorrect or correct?” Like, why can’t you just give Jones statements and ask if they are true or false? WTF? Is this a reading comprehension exam? Anyway, things like that mean that when there’s a question like Real Estate, I just have to know how to do it and be done with it so I can go back to the insane ones and sit there staring at them for a few minutes longer.
I just took it in December. I didn’t make it to the PM much because the ethics were so long. I remember underlining so much because the readings were so long that it was easy to lose where the points were that the questions were referring to. L1 was a total mind fu@k, but I hear L2 is the real deal. A buddy of mine teaches a Stalla L1 course and has been hounding me about L2 stuff. From what I get from him and other L3s is that its all FSA and EV and the rest of the stuff is color. If you look at the break out FSA and EV account for 40-65% of the exam while the next largest parts are at most 15%. I spent all weekend re-reading and re-doing the q’s for FSA and EV so I feel that I know it too well right now (which is probably untrue, but I’ll find out later this week).
BTW - CFAI are very good at writing hard q’s from a test-taking perspective. I’ve written geometry q’s for a standardized test company and their guide for ‘item’ writing is that the question is realistic, reflects the material and that all answers are both possible and probably given the q’s setup. CFAI is very good at having all four answers be both possible and probable - you s/b able to write-off two answers fairly quickly if you know the material, but not if you don’t.
I’ve been trying to do 200+ schweser questions from the testbank. I find that my brain is getting tired and sometimes I don’t get the questions right because I fail to read the question or read the answer too closely.
Kelly Bundy was hot.
^^^^ I was just going to say she’s way hotter now. Must be my age.
I’ve been thinking about that episode often. It’s not that the material is extremely difficult, it’s the retention part.