memorize or understand?

OK by looking at CFAI questions it seems that you dont really need to memorize lists. You need to just unnderstand the material. Can someone elaborate on the importance of memorizing lists and such? Thanks.

ha…you hit the nail on the head. In my opinion, LIII is more memorize.

Memorize and see the connections across topics, there’s plenty of time to understand things after June 7.

^^^ conflicting opinions.

Understand as much as you can - memorize the rest.

bchadwick Wrote: ------------------------------------------------------- > Understand as much as you can - memorize the rest. Agreed .


it is hard to understand when CFAI constantly makes a gazzilion assumptions, especially in chapters for Derivatives

You need to do both.

Mr.Good.Guy Wrote: ------------------------------------------------------- > SAMURAI This always makes me think of Bonk Pictures’ “Los Gringos”. A classic! h t t p : / / t i n y u r l . c o m / 5 d 7 l u 4 (allocate about 5 mins for this)

Some topics have to be memorized, I’m thinking Taxable accounts and BRICs, GIPS, … Others like options, swaps, futures, attribution need understanding.

more of a memorstanding

I dont think memorizing things will get you too far in this exam - but they will hold you to the details (lists and terms and such) and so name/term definition is not unimportant. They make the rules. The various behavioural terms and definitions drive me nuts because I think sometimes the fact pattern could be easily be interpreted to suggest different attributes (at least with the Schweser stuff) - Like on time when I saw representativeness (in morning essay) but they wanted the term Heuristic Driven Bias which by their own admission is a broader behavioral category containing representativeness! The fact of the matter is that representativeness was much more precisely descriptive of the psych profile so if the CFA marks off points for reason like is is for reasons other than “assuring the competence” of investment professionals

If you understand you won’t have to memorize (as much).

When you’re really long in the tooth like me you will hope there is a little more of “understand” and a little less of “memorize”. Please make it the latter. I’m too far gone to even try and remember stuff. Not that I really understand stuff either. Hell, I barely remember to put my pants on in the morning.

I think it is humanly not possible to memorize only.

combination of both

if u can understand it, then dont memorize, but if u cant then memorize… one would have ample time to understand after the exams… bottomline: to survive in this industry u need to understand and not memorize…

Ok here is an example: Will the question be, what are the various Hedge Fund strategies? Or will it be, explain what is Market Neutral, Convertible Arbitrage, and Global Macro. In the former you have to memorize the list of HF strategies. IN the latter you need to kow what the particular strategies are. I am hoping its the latter.

The real problem is when you understand the question, but forget the special name for something. “My client has a behavioral bias that he doesn’t want to sell losers because that means he will have to recognize a loss.” Darn, I can’t remember what they call that, was it “percaphobia?”