I was joting down what all I learned over the last one year of passing the Level 2 exam - I hit upon an interesting/intriguing stuff.
When we read the questions, should we read the answers/options along with it. I realized during my initial exam preparation days that my mind wanted to pick numbers so that the answer reaches one of the three options there. Well its correct that your answer has to be of that three options. But what I am trying to say is that it skewed the way I think or I should be thinking!
So I actually started closing the answers while reading the questions (100% agreed looks ridiculous) to make sure I dont know the options actually Did any of you also realize this or did this happen to only me?
But I think my close the answer and read question worked for me…
I tried something like that in L1 practice exams to make sure I got the concept right. I would put a page on the answers and get the number without looking, then i would see if i got it right. If i dint I would mark it wrong and then review why I got it wrong. It seems like a good idea.
Great to know Hamada! Thanks for that!
for L2 on the exam I would read the first sentence or 2 of the case to see which topic area it related to. Yes I know the exam book says but to get more detail (ex. ABS or Duration for FI). Then I would read the answers and skim the choices, sometimes being able to cross one out right away.
I found reading the answers first before the case helped me pick up on key words or pieces of information. sometimes I’d even be able to know the answer without actually reading the case.
for ex. if the question said what is the interest coverage ratio after adjusting for the op lease. This would get my brain thinking already “ok need the op lease amounts, interest, amortization, rent payment etc etc. then need to properly allocate the op lease interest”. as I mentioned I found that this helped me when reading the case itself and also to know what to expect.
kind of like a doctor going to do a surgery, he never walks into the ER room without knowing wtf is going on or what he’s expected to do. that’s my logic, be prepared and know what to expect from the case.