Paper graders

Just saw their website and looks like they have not updated their 2018 courses yet. You may write to> to see when they would open up the course for Custom AM course for 2018. Currently I see only the courses with study materials and Videos and not the AM course with grading of answers.

I think “partial credit” is a misleading statement- the questions each have a set number of points (minutes) and usually have multiple components, each worth a set number of minutes.

When the question lists more than one command word, if it asks you to identify and then describe a model/method/etc, you could certainly get 1 out of 3 points if you identify it correctly but don’t describe it accurately.

Even when there is only one command word, you can still get partial credit- ie, if you show your work for a question and simply do the final calculation incorrectly, you could expect to get partial credit for knowing the components and setting up the model correctly.

It’s all laid out pretty clearly in the CFAI guideline answers to previous exams. There were plenty of examples that said things like “1 point for identifying the correct choice, 2 points for explaining why the other choices were incorrect.”

If you’re thinking of partial credit as “well, you were on the right track so I’ll throw you a point for being in the ballpark” then yes, that’s not going to happen.

It’s not simply enough to do past exams X number of times. You need to walk away from each question understanding what it is they’re asking and how they want you to answer it.

Your entire studying could consist of blue box examples, end of chapter problems and past exams. I was lucky enough to have past exams for the past 10-15 years with answers. I didn’t do any mocks, I didn’t do any other question banks.

Pretty much everything in this years exam could be traced back to a question in a previous exam.

If you can understand and learn everything they’re asking in previous exams, you’ll be golden.

Don’t quite understand what difference it would make if you graded yourself hard or soft. At the end of the day it’s how you do on the exam that matters. Did you stop preparing because you thought your mock exam results were sufficient? You should be learning the underlying concepts not learning a particular exam and how to score points on it.

Don’t aim partial credit. That’s bull***t strategy.

MaxiMax strategy and you might finish with AM result of average or above average.

Trust me.

I agree that practice exam scores don’t matter and almost never added up my mock AM scores to see if I would “pass” or “fail”, but given that L3 essay mocks can’t be entered online the way the topic tests are you really have to dig further in your revision process. At some point you have to narrow your focus to weak (and strong) topics… can’t do that if you’re giving yourself comfort points on the mocks.

More than anything, it comes down to recognizing that anything less than the CFA guideline answer is not going to get credit. The notion that the guideline answers are “unrealistic” or “not expected to be replicated” is dangerous.

what’s maximax strategy?

Will email them to see if they still offer it. Thanks