I was attending live mock exam today. PM session was brutal, I scored 29/60 and I am shocked, especially due to the fact that I solved 2/3 of topic tests with the average score of 76%. I was pretty confident about PM session before the mock, now my confidence is gone. Schweser wording is really bad, and for the remaining less than 3 weeks I will stick to official CFA material… in addition I need some rest as well
I did the live mock, scored 58% on the AM whereas I have been scoring 68-72 on the old CFAI exams. I agree it is very poorly written. Going to grade the PM now.
Hmm. Hope this means Kaplan Sch mock is shit- I’m registered to do it next week. Could change to an alternative provider, like Wiley
They go out of the way to test nuances… Scheweser AM/PM live mock had questions that I doubt would ever be on real exam.
handicap your score up 10%
I also got 58% in the PM Schweser Mock…apparently that’s 2% better than the average according to their performance tracker.
Again, IMO this was a very poorly written exam.
What’s the point in testing something that is unlikely to come up! C’mn they should do better
The real exam comes like a breeze after Schweser. The whole point of the mock is to twist you to the breaking point so you don’t get too complacent. The questions are real and referenced to the curriculum, except they are twisted so that you work hard to find your inputs. Topic tests for example provide all inputs and you just need to apply the formula.
I got 57 AM and 56 PM in this and I am not even mad. My highest score in L1 and L2 hasn’t been above 58% so there is a trend here.
If anything it makes me go back and revise again.
That’s ok kroko, as long as it’s stretching you on testable topics. If the comments are correct and the topics are unlikely to appear and questions worded badly, then it’s misleading and confidence sapping. I agree the aim should be pitched harder say 10%, but relevance to the core testable areas is key.
Nobody is qualified to assign probabilities of a certain topic appearing/not appearing in the exam. Only Murphy’s Law is applicable in this case.
Kroko - nobody is qualified but take GIPS for example, you must anticipate a question is more likely to come up on non -discretionary accounts versus testing pre 2011 date milestones. Somebody with a lot of time, could probably assign probabilities by going back through past CFAI papers and test topics, ultimately as you conclude everything in the syllabus is potentially testable with curve balls, but then we could be talking about 1,000 hours per level!
oh, just a related point after buying IFT mocks I’m now on his marketing list and I received a sales email saying " Arif Irfanullah predicts that about 80% of the content of the recently completed summary videos (only 10.5 hours) will be on the June 2017 Level III exam! ".
he then goes on to put a disclaimer somewhere!!
its not really a mystery of what topics are likely to come up. If you go through all the SS/R every topic has 2-3 “major” concepts/formulas … things like (implementation shortfall/ cobb-douglas, attribution analysis, option payoff etc…)
the problem with level 3 is that it will hit you with a twist that has never been seen before… example is a taylor rule question in one of the recent AM papers… solution is to take the difference between the old and new forecast data… there is nothing like that in any BB/EOC… once you see the guideline answer… its pretty easy… but i find it hard to believe most candidates got it on exam day… same with various other concepts… its not enough to know the formula / definition
The Schweser live mock was hard - just for the purpose of being hard by testing out of left field concepts
Thanks danv - think I might switch my live mock from Schweser to another provider on Saturday
I agree, took the 2017 AM Cfa yesterday scored a 70%. Took Shweser live today, 43% AM, 58% PM. I spent a quarter of the time trying to figure out wtf they were asking and where to find the inputs. The live mock was garbage.
Well given the comments earlier I switched for today’s live exam from Schweser to Fitch, which I thought was considerably easier than CFA past papers, so it had weaknesses as well.
I’ve heard very mixed things about Kaplan live mocks. IMO, the past CFA exams are the best way to study.
yeah, shame they don’t do a live mock!
I just finished reviewing this mock exam after a entire Sunday. Definitely got a big hit with a 50 for the PM yesterday. Almost started to doubt myself for a second after the test. Because I got 70 before… But I strongly believe what cannot beat me will make me stronger.
Also, I always thought Kaplan has been helping me prepare for the CFA test since level 1. Like some other said, even the way they ask questions might be different. But if we know the concepts well, we should be able to answer them in any directions. Since we have gone through the toughest test (Kaplan live mock) what else we cannot answer?
Let us nail this on June 3rd!!!
This is good that you took this mock. And don’t worry about your results as Kaplan is very weird - the way the questions are asked, information is presented, and logic behind. I took this mock yesterday and found some questions in the am part very confusing as I just couldn’t figure out what they wanted from me, e.g. 5-D or 6-B. many questions in the pm part were poorly worded and structured as well, specifically ETH cases.
I scored ok - 67%/70%, but only because I already took seven CFAI am mocks and took all on-line cases several times. So yesterday I could spend less time on remembering “how” and a bit more time on “what”. I left the 2017 CFAI mock for the final phase this week so the most recent mock will be the most “official” one. And Kaplan … they are in business of making money on you, not helping you to stop using their services.
Stick to the original books and tests - there are 69 on-line cases (I think), so you will be able to take each of them at least once more over the next 10 days and some problematic ones you can give another try over the weekend. Practice a lot and you will do well. The Level III is all about practicing in contrast to the Level II that was all about memorization.