Im worried about how open ended the essay questions are, as in im afraid of drawing a blank when they ask for names of stuff. At least with multiple choice, you have a good shot at recognizing this things .With essays, I feel like you have to memorize well because there are no choices to look at.
Hence why level 3 is by far the hardest level…
Yup- you can’t rely on recognition of answers like you can for multiple choice. At least for half of the exam. If you look at past tests it looks like they try to structure it as much as possible (e.g. “circle the correct answers”).
There are a few open-ended AM exam questions in the past that I noticed when practising with 07–09 old exams: 2008 Q7B – Recommend one other stress testing method, in addition to stylized scenarios, to effectively supplement VAR. Explain one advantage of this method. 2007 Q3 that asks us to list 2 psychological traps. Although there have not been many such type of questions, I agree that we do have to memorize well if we run into one. Overall, open-ended questions only occupies a very small proportion of the essay paper.
Note-cards with fact nuggets are your friend here. I’ll probably have a stack about a foot high once I’ve finished my prep. Hopefully this helps me deal with these types of open-ended BS.