there are 13 mistakes i know for sure were incorrect…listed as follows exluding ethics ofcourse 1. after-tax cash flow real estate was suppose to be 48500 close to it 2. TVM calculation have used N=9 for END mode answer i had was 55000 sumthing i dunno 3.hedge funds Q…they all seemed right but i picked the one with the corp offshore 4. initial liability i had zero coupon…alot of ppl saying warrant but i dont see logic it could go both ways for all i know 5. the SYD depreciation where u have to say if ROA is higher or lower in stable expenditures…cant rmember at i had but ill count it as wrong. 6. the FCFE q…the included interest expense phrase was just tedious…cant remember if i removed it from calc or just took CFO…so ill include it as wrong 7. there was a q about all factors that contribute the nominal interest would least likely affect all investments, goverment bonds, market fluctuation or something i cant remember what i put. i think i picked the temporary market one anyone know? 8. the cash flow yield least likely selections on mortage bonds…again they all seemed corect god damn it…assume held to maturity, if prepayment rate changeg largely then yield will not be realized and last option was yield equal to present value of cash flows equal price plus accrued… 9. REITS…didnt know if they were levereged or not…trade at discount or premium, or as close ended…bcuz they had close ended and premium discount to NAV as two options that meant one one them had to be the choice… 10. mature stage in industry…which one is least likely…they had low profit margins, average roe, sales higher than growth and another one…its confirmed that its average roe from CFai text i got that wrong…roe are average at stabilization 11. the binomial calculation q… u had to do it for x=5 PLUS x=6…i just did x=5 put 9.4% 12. STD for the portfolio returns…cant remember if the q said portfolio entire life, since inception or whole history or just returns…the word “sample” was definitly NOT there i would have caught it…but needless to say i used N divisor…ill take it as wrong 13. last but not least the payback period…2.4…so much debate but better be conservative
Look at it this way…if those are your only mistakes and you get every ethics question wrong, you still score 80%.
- if we’re talking about the same question, i got n=10 and the answer was 66,xxx…
Damn! i just counted the total mistakes i made, so far about 19 wrong… I’m sure the number will go higher.
I gave up…I think ethics killed me…even more frustrating is that on the 5+ sample/mocks I did, I had never got < 89% on ethics.
For number 2 i got 63xxx, after get the total amount for N , i discounted one period back.
I am taking granted that at least I made thirty mistakes - primarily i was too confident! So at least 10 i know that I did wrong , other 20 i would imagine I don’t know or guessed. I don’t know what the F was going in mind that I wanted to finish the test in 2hrs- perhaps because I always tired to time myself at the rate of 1min per question during preparation. Moreover, i knew CFAI will always put the wrong answer amongst the choice but I somehow became oblivious to that! Stupid me. S
"EITS…didnt know if they were levereged or not…trade at discount or premium, or as close ended…bcuz they had close ended and premium discount to NAV as two options that meant one one them had to be the choice… " Huh?, close ended funds may trade at a premium or discount to NAV.