May 22 Mock Exam

I haven’t taken the mock yet and probably won’t get to it until later in the week. From the sounds of it, ethics was pretty brutal. If it was due to convoluted wording and the like, it’s representative of the actual exam.

Anybody care to comment on Q60: My thoughts are as follows…if Neurungen of Germany manufactures in the Euro and the Euro 1) depreciates against GB pound and 2) appreciates versus the baht, don’t you think net-net, the Neurungen company would “maintain its value” as Answer B suggests. I put B. The answer is A.

I agree with demmel, Neurungen has sales in both UK and Asia, UK appreciates relative to euro. British pound appreciates relative to euro (Neurungen based in italy, EURO using country). Sales in UK - Helped by pound appreciated to euro Sales in Asia - Hurt by depreciation to euro Therefore, shoud cancel out… Anyone agree?

Got killed on Ethics as well. 5/6 Ethics wrong in the AM. I also managed to screw up a full FRA vignette because I got overconfident with currency translations, and hence sloppy as I wanted to catch up on time after wasting so much of it on Ethics. In total, I missed 13 out of the first 18 questions, and 8 out of the remaining 42 in the AM. Many silly mistakes. I feel I could have scored at least 5% higher on each session. AM: 65% PM: 68%

Question about the 1st Ethics question in the AM session: In the notes, Schweser says that Research Analyst Compensation should have no link to the investment banking or corporate finance activities. So having a share of Researcher’s bonus based on common performance between them and Investment Bankers is OK?

wake2000 Wrote: ------------------------------------------------------- > Let’s do this son. getting my game face on for > this. didnt have my game face on for this one AM 75 PM 65 ethics and nasty swaps raped me, then I watched “The Girl with the Dragon Tattoo” and almost threw up, had a nasty day today.

Yikes, can someone explain how they got callable bond value in Q45 afternoon?

I wanted to b-slap the B beside, she finished early and was grading her exam while those of us were still taking exam. When she finished grading one section she exclaimed: 90! and then for the second section she was like YAY 88%!

hey guys, can i buy this online and test it later? thx

YAhmed Wrote: ------------------------------------------------------- > hey guys, > > can i buy this online and test it later? thx Schweser has one variant that is offered online. Not sure if it’s the same as the live one though (didn’t take the live one). The online one will show in your “online access home” page, just like any other mock exam or like QBank, one difference being you can’t stop the countdown (3 hrs + 3 hrs ).

thx. hope its different from the live one. to MehdiOchre, will u take the online one?

Regarding Ethics , i thought overall the mock exam was pretty representative of the real CFA test; however, I’m a bit concerned about the Ethics section. Most of hte 2 item sets focused on excrutiating detail, ie., differences on what’s required and recommended. I did horribly on this section (5/12 right) in an area that i normally score well above 70. I can spend the next two weeks memorizing all this detial but i’m not sure if this is a good use of my remaining study time. I was planning on Ethics being one of my stronger areas. Any suggestions on how to tackle ethics the remaining two weeks? Or, 12 days at this point …

Also, is anyone purchasing the Schweser Mock tutorial videos. Is it worth the $100?

hi aarguello, can i still buy this online test? it says may 22 mock exam!

Quoting chowder: Date: May 22, 2010 08:17PM Residents= citizens …? Schweser notes mentions only citizens at the end of chapter notes Chowder, you are correct, I see this as well. Jdane, per Schweser “GNI does not include the income earned in the United States by non-U.S. Citizens.” I do not see this as an errata either. Any elaboration?

Looking over the exam in detail now. There are a few problems that just don’t seem correct. For example: AM Q4: C is not correct. Per CFAI text, if you look into research and objectivity standards page 169. 7e: it says: “prohibit covered employees and members of their immediate families from purchasing or receiving securities prior to an IPO for subject companies AND other companies in the industry or industries assigned.” A should be the correct answer as it refers to IPOs for subject companies. Q16: Inventory was evenly purchased throughout the year, so we should be using the average rate for COGS for both right? Q18: why would it be a purchasing power gain? An asset exposure in a hyper inflationary environment would lead to a loss… Q33: holding the real rates constant… (IRP), wouldn’t B or C essentially be the same thing… Q34: why would the Yen expected appr. decrease?? Monetary expansionary policy is being enforced in the US thus depreciates the dollar and should see the yen appr relative to the dollar right??? Q60: as another person pointed out. Neurungen would loose business in Malaysia due to the higher Euro, but should gain in England because the pound appreciated to the Euro. Without any other information Answer should be B. I haven’t seen anything wrong in the PM exam yet.

Correction Q18: forgot that we were using A/C method… Monetary assets - Mon. L

I purchasd this and even got the confirmation receipt but I don’t have access to it? When I click on the tutorial button it brings up an option to pay field "name address card# etc? This is just unacceptable. I paid got the receipt confirmation and now have no access to the tutorials which I paid $100 for. Plus no technical or customer support on the weekend? Nice job once again Schweser. :frowning: Not to mention that operations were horrible. First they put the wrong building on the directions and then the Live Mock Exam the exam started late at 9:30am because it took forever for the proctors to sign everyone in since they were late themselves and only two guys were there. Also, when I arrived for the PM afternoon session. I was told I might have to go do the afternoon session online because they were out of paper exams? Are you kidding me? Luckily there was another candidate who was accidently given two exams. Common they don’t even have extra’s?

kevf219 Wrote: ------------------------------------------------------- > Quoting chowder: > Date: May 22, 2010 08:17PM > > > Residents= citizens …? Schweser notes mentions > only citizens at the end of chapter notes > > > Chowder, you are correct, I see this as well. > > Jdane, per Schweser “GNI does not include the > income earned in the United States by non-U.S. > Citizens.” > > I do not see this as an errata either. Any > elaboration? kevf219 - All I can say is if you look at my post it is a direct quote from CFAI. Hence, I would memorize that and forget what Schweser wrote.

CFABLACKBELT - In regards to the AM I agree with you on the following: AM: Q16, Q60 - The other ones, even though I missed some, I can see Schweser’s logic for how they are correct. PM: Q40 - VaR estimates both the magnitude AND probability; not sure why the answer explanation says it doesn’t