for me, 15 min left, 2 questions left …
I thought the Individual IPS was simple unless of course I misread the case. It was too simple and has me paranoid that I left something out.
PM was easy, but if we all aced it, then it really doesn’t matter much.
L2 Candidate Wrote: ------------------------------------------------------- > The questions > overall are not too difficult by themselves, but > being as rushed for time as you are, you have to > be reading and writing immediately vs. having a > chance to digest the info and formulate a logical > response. You also end up prone to not reading > all the detail and looking at the questions and > scanning the case for answers. I couldn’t have said it better myself.
needhelp Wrote: ------------------------------------------------------- > someone please say something about PM. it was > easy, right? Not bad, but I know I missed at least a few. Thought it was a bit tricky
The Rick Wrote: ------------------------------------------------------- > PM was easy, but if we all aced it, then it really > doesn’t matter much. dang it. thats what i thought. it means AM will dictate who passes and who fails. In PM prolly a lot of people got 90% or more.
I agree with everyone above – and I sure hope I didn’t miss question 11 . . . not that I would have had time. I usually finish the multiple choice tests with at least thirty minutes to spare; with the AM section I needed every last second and could have used at least another thirty minutes. With an hour and half left I realized I was only a third of the way through the exam – that’s when I had to get ruthless with the short, bullet answers. Overall I felt the AM content was fair, but there were two questions too many – and they did NOT allow us enough time for the IPS cases. And largemouthbass is right, the format was extremely confusing and annoying. Why couldn’t they have a question book and a separate answer book. I wasted a lot of time flipping back and forth between the question pages and the writing pages. For one of the questions I didn’t realize until I had finished it (and was 12 minutes behind pace to finish the exam) that I had written in the lined section what they wanted in a template section. I just had to write “see page 21” in the templates and move on. Somewhere in the FAQs about why they’re moving to three multiple choices from four they say that the CFA exams aren’t meant to be a speed test. Challenge!
For me 30 mins and both Individual and Institutional IPS to go. barely enough to even read the full case and read the questions.
I flunked. I was just finishing the 5th question (the first 5), when the proctor gave 30 minutes warning. I had just started on the futures question - but the panic killed me. Just couldn’t think straight, so I left that and did half of the market execution question. The only saving grace is that, based on minutes, first 5 questions accounted for more than half of the exam. So probably I did 50-60% of the morning exam. Does any one remember how many minutes were the questions on the DB plan and Corner/tangency portfolios? I remember the first question was 36 minutes. Evening was easy and I feel very good about it (except some ethics questions, which are always an issue). However, I don’t think I am going to be able to cross the hurdle. I feel very sad because this was an easy exam, very eminently passable and had I not panicked in the last 30 minutes of the morning session and done a question or two more, I would have most probably passed. But I did answer the first 5 question really good. Really really good 
I just don’t know where the time went. I just don’t know what the heck, where the heck… I am so disappointed in myself - I have taken probably close to hundred exams in my life, and this has never happened before to me. Oh, well, one more spring of life to write off.
anyone remember the hedged and unhedged performance? I got nice numbers, anyone?
I think we’re all in the same boat. In doing the CFA exams from 2005 through 2007, I finished all of them with 20 minutes left. But I was under serious time pressure on Saturday morning. I was scrambling for the last hour, and I gave some half-assed efforts on some questions that I couldn’t afford more time to think about. God forbid you spend five minutes going down the wrong path on a question… it’s catch-up all the way. We’ll see.
Morning was a nightmare, I missed a complete question. One would have to ace the afternoon to secure a pass. This was the same pattern in 2007, but this year the first q was 2 pages long !
indike Wrote: ------------------------------------------------------- > Morning was a nightmare, I missed a complete > question. One would have to ace the afternoon to > secure a pass. > > This was the same pattern in 2007, but this year > the first q was 2 pages long ! Not to mention 2 req return calcs… Dont think I ever saw that before
actuaryalfred Wrote: ------------------------------------------------------- > anyone remember the hedged and unhedged > performance? I got nice numbers, anyone? 3% and 14%?
VROD Wrote: ------------------------------------------------------- > fsa-sucker Wrote: > -------------------------------------------------- > ----- > > VROD Wrote: > > > -------------------------------------------------- > > > ----- > > > Fixed Income attributiuon > > > > Why don’t I recall that question ? > > I think it was a short one… Was that about sector-rotation trades ?
another thing I hate is that vwap question, you can’t use the same reason, we need to distribute the reasons evenly for them …
what do you mean 2 required return calcs? You mean 1 for Individual and 1 for Inst. I hope.
CFAAtlanta Wrote: ------------------------------------------------------- > I flunked. > > I was just finishing the 5th question (the first > 5), when the proctor gave 30 minutes warning. I > had just started on the futures question - but the > panic killed me. Just couldn’t think straight, so > I left that and did half of the market execution > question. The only saving grace is that, based on > minutes, first 5 questions accounted for more than > half of the exam. So probably I did 50-60% of the > morning exam. Does any one remember how many > minutes were the questions on the DB plan and > Corner/tangency portfolios? I remember the first > question was 36 minutes. > > Evening was easy and I feel very good about it > (except some ethics questions, which are always an > issue). However, I don’t think I am going to be > able to cross the hurdle. > > I feel very sad because this was an easy exam, > very eminently passable and had I not panicked in > the last 30 minutes of the morning session and > done a question or two more, I would have most > probably passed. But I did answer the first 5 > question really good. Really really good I > just don’t know where the time went. I just don’t > know what the heck, where the heck… I am so > disappointed in myself - I have taken probably > close to hundred exams in my life, and this has > never happened before to me. > > Oh, well, one more spring of life to write off. Sounds like me the first time when I took L2 when it was still short answer. I panicked on a test for the first time in my life. The panic put my brain in a state it has never seen and didn’t function worth a darn. Now that L2 has been MC for awhile, a lot of candiates are going to underestimate L3. The previous tests look easy from the comfort of your home and that gives you a false sense of security.
dealt with whether managers followed published styles…
LargeMouthBass Wrote: ------------------------------------------------------- > what do you mean 2 required return calcs? You > mean 1 for Individual and 1 for Inst. I hope. No two for individual. One in yr 1 and another like a bunch of years later, perhaps I hallucinated…???