In a nutshell I though the 2007 AM exam was a bear because of some tricky questions. 2008 was a bear because so much to do in so little time. I thought the AM section was actually more fair than last year in terms of material tested in that the questions all seemed more doable and less out of left field and less tricky such as the attribution question last year. I don’t want to go into specifics,…However, I couldn’t agree with the people who said it was a HUGE time management challenge. Where I took it they had a problem with the sound system and so we ended up starting at 9:12 am instead of 9 am. I kept having to subtract twelve from everything to see where I was and that sounds like a small thing but when you are adding up all the numbers for the minutes it was quite challenging to see where you were. After about an hour I realized that time was going to be a major issue for me, gave up trying to see where I was, and I finally went all out and ignored time checks and just tried to do as much as I could before pencils down. I basically raced through it. I was pretty sure I failed or was borderline until I read this thread and this gives me additional hope that maybe I passed. Hopefully I’m not overconfident, but if I failed I can always blame Schweser and call it self-attribution bias :-)…I am afraid that people looking at the test next year and the years after might think that the 2008 AM was pretty doable, that is until they try to actually do it in the time allotted…that was quite challenging indeed. I won’t care what they think if I passed :-). Good luck to everybody.
some thoughts about the morning section. obviously we have time pressure in the morning section. even if you can finish everything you still think you can have done better if you have 10 or 15 mins more. we need to write down all the answers for the morning section. my question is how many of you guys still write a lot on daily basis. i know i am not. i guess for those who graduated from school within last 5 years did not write a lot in the school, because most of the assignments or even some of the exams were done by typing. after you got out of school, things got even worse. basically you dont have to write anything in the company. when do i need to write down something? the time i need to SIGN!!! that’s it! that makes my handwriting getting worse and worse. i am not sure the markers know what i wrote. another thing is even i dont feel my writing speed has gone down during the exam, but i am sure i could write faster at 12 year old than yesterday. there is no way you can keep a skill (lol, now i call writing is a skill) as the same level without even practice. if i could write 10% faster, i have 18 mins more. that is enough for question 10 and 11. if i could write 5% faster, i have 9 mins more. that is enough for any one question from the last three. i know there is no way to get around it unless you can come up with a computer that can only let you type. that is too expensive for CFAI to come up with that thing. or they can have less questions in the morning exam section. just my 2 cent.
CFAAtlanta Wrote: ------------------------------------------------------- > jmychasi Wrote: > -------------------------------------------------- > ----- > > yes…at first i thought self dealing…but > > then i realized there was clearly a self > interest > > > > insuficcient effort > > > No… entrenchment strategy. Insufficient effort > is if you are a lazy bum. Dont forget, it said “”“least likely”""" to be…
ahahah Wrote: ------------------------------------------------------- > CFAAtlanta Wrote: > -------------------------------------------------- > ----- > > jmychasi Wrote: > > > -------------------------------------------------- > > > ----- > > > yes…at first i thought self > dealing…but > > > then i realized there was clearly a self > > interest > > > > > > insuficcient effort > > > > > > No… entrenchment strategy. Insufficient > effort > > is if you are a lazy bum. > > yeahm but they asked what was LEAST likely… Oh… f…
it was insufficient effort questionw as worded LEAST LIKELY those sneaky ******
float durations crossed one another out.
former trader Wrote: ------------------------------------------------------- > CFAAtlanta Wrote: > -------------------------------------------------- > ----- > > jmychasi Wrote: > > > -------------------------------------------------- > > > ----- > > > yes…at first i thought self > dealing…but > > > then i realized there was clearly a self > > interest > > > > > > insuficcient effort > > > > > > No… entrenchment strategy. Insufficient > effort > > is if you are a lazy bum. > > > not entrenchment. he was clearly investing in a > business line that wasn’t adding value. Insufficent effort - he was investing in an extragavent project, that he had speclized knowledge of (entrenchment), and was buying it from himself (self-dealing). No indication he was spending too much time sitting on not-for profit boards.
needhelp Wrote: ------------------------------------------------------- > if someone says you need x dollars at end of 5 > years, you assume inflation was accouted for > already. What?! That is f’in BS! I totally missed that one. I got the 8.5% but added 4%. Oh well, hopefully I only get docked a pt or two.
former trader Wrote: ------------------------------------------------------- > CFAAtlanta Wrote: > -------------------------------------------------- > ----- > > jmychasi Wrote: > > > -------------------------------------------------- > > > ----- > > > yes…at first i thought self > dealing…but > > > then i realized there was clearly a self > > interest > > > > > > insuficcient effort > > > > > > No… entrenchment strategy. Insufficient > effort > > is if you are a lazy bum. > > > not entrenchment. he was clearly investing in a > business line that wasn’t adding value. former as far as i remember the question asked which one NOT…??!
I thought the duration of fixed leg was 0.95. The duration of floating leg was 0.24, the same as the loan.
yup, least likely, I spent 5mins + to find that 3 answers could be right, and later I found that it was so least likely
itstoohot Wrote: ------------------------------------------------------- > former trader Wrote: > -------------------------------------------------- > ----- > > CFAAtlanta Wrote: > > > -------------------------------------------------- > > > ----- > > > jmychasi Wrote: > > > > > > -------------------------------------------------- > > > > > > ----- > > > > yes…at first i thought self > > dealing…but > > > > then i realized there was clearly a self > > > interest > > > > > > > > insuficcient effort > > > > > > > > > No… entrenchment strategy. Insufficient > > effort > > > is if you are a lazy bum. > > > > > > not entrenchment. he was clearly investing in a > > business line that wasn’t adding value. > > > former as far as i remember the question asked > which one NOT…??! yes, which is insufficient effort.
I was having problems reading my own writing today. It would be hard to imagine someone else trying to decode it when it was written in haste.
CFAAtlanta Wrote: ------------------------------------------------------- > I thought the duration of fixed leg was 0.95. The > duration of floating leg was 0.24, the same as the > loan. That’s what I remember… I think there were 2 though.
CFAAtlanta Wrote: ------------------------------------------------------- > I thought the duration of fixed leg was 0.95. The > duration of floating leg was 0.24, the same as the > loan. now that i think about it i think the answer i put was .95 (not .71) since the two floating rates crossed eachotehr out. sorry boys. my brain is fried.
The Rick Wrote: ------------------------------------------------------- > I was having problems reading my own writing > today. It would be hard to imagine someone else > trying to decode it when it was written in haste. yeah that’s why i underlined the keywords on the paper…
I did the same, oskigo. Ponpon
all i remember on that one was trying to incorporate all three…the floating duration on the swap, the fixed druration on the swap, and the floating duration on the loan…but when you added the floating duration and subtracted the fixed duration, the answer wasn’t on there…so i went with 0.71 which was technically just using the swap only.
monchhichipam Wrote: ------------------------------------------------------- > some thoughts about the morning section. obviously > we have time pressure in the morning section. even > if you can finish everything you still think you > can have done better if you have 10 or 15 mins > more. > > we need to write down all the answers for the > morning section. my question is how many of you > guys still write a lot on daily basis. i know i am > not. i guess for those who graduated from school > within last 5 years did not write a lot in the > school, because most of the assignments or even > some of the exams were done by typing. after you > got out of school, things got even worse. > basically you dont have to write anything in the > company. when do i need to write down something? > the time i need to SIGN!!! that’s it! > > that makes my handwriting getting worse and worse. > i am not sure the markers know what i wrote. > another thing is even i dont feel my writing speed > has gone down during the exam, but i am sure i > could write faster at 12 year old than yesterday. > there is no way you can keep a skill (lol, now i > call writing is a skill) as the same level without > even practice. if i could write 10% faster, i have > 18 mins more. that is enough for question 10 and > 11. if i could write 5% faster, i have 9 mins > more. that is enough for any one question from the > last three. > > i know there is no way to get around it unless you > can come up with a computer that can only let you > type. that is too expensive for CFAI to come up > with that thing. or they can have less questions > in the morning exam section. > > just my 2 cent. I couldnt agree with you more. I felt like I took 45 minutes on the 1st question, and really stepped it up going forward. Some of my answers were one or two sentences, but I realized I couldnt write a book for each answer, and still expect to finish.
CFAAtlanta Wrote: ------------------------------------------------------- > ahahah Wrote: > -------------------------------------------------- > ----- > > CFAAtlanta Wrote: > > > -------------------------------------------------- > > > ----- > > > jmychasi Wrote: > > > > > > -------------------------------------------------- > > > > > > ----- > > > > yes…at first i thought self > > dealing…but > > > > then i realized there was clearly a self > > > interest > > > > > > > > insuficcient effort > > > > > > > > > No… entrenchment strategy. Insufficient > > effort > > > is if you are a lazy bum. > > > > yeahm but they asked what was LEAST likely… > > > Oh… f… echo