Schweser Live Mock Exam Thoughts

How did you guys think the Schweser Live mock exam was? I thought the morning exam tough from the perspective of not having enough time to finish. I was really surprised because I’ve taken several older CFAI AM mocks and two other schweser mocks and had plenty of time left once I was done with the exams. However, I barely had enough time to finish the AM portion of the live mock yesterday. I thought the PM was pretty easy though.

My critics:

  • I like that schweser has statistics so you can gauge how you’re doing versus everyone else.
  • I also like their detailed video explanation on every question. That takes lots of time for them to make and is quite useful to go over the questions missed.
  • I didn’t like they had corner portfolio question on the AM. This shows they re-used old material and didnt want to make up a new question
  • I didn’t like multiple return vs holding basis analysis questions on the PM, which I think has pretty much been eliminated other than the most simple definitions.

Other than the corner portfolio, I thought the AM was legit and could have been the real exam. very impressed with them. I self-graded myself at 82% and the average score on the site was 71%.

Other than the poor equity section (returns/holding analyst and lack of new equity material)I thought the PM was good too. I made a few silly mistakes where I instead of picking the least correct I picked the opposite. I scored a 77% and the average was 48%. It may have seemed easy but the average was quite low.

On a side note, I find it interesting the AM is self-graded at an average of 71% while the PM is a legit 48% average. lol…There’s no ambiguity between A, B or C.

I completely agree with the “inflated” AM scores.

I also bombed one of the questions which lowered my overall score and makes me realize how important it is to know all of the formulas. Its amazing because you can forget or mess up a formula in the PM session and you only miss 3 points if you get it wrong. However, there could be a question worth 7 points in the AM based on a formula and you can easily miss all 7 points if you completely mess it up.

I am on the fence with the mock. There were foundational items I assumed would be a slam dunk to test that weren’t, and some almost fringe topics tested. As a whole, it wasn’t bad, and it made me think about topics I haven’t thought about in a while - B+

I was taken off guard by the Econ question that had you calculate GDP for Q1, then make you use your answer for Q1 in Q2. This is not how the real exam will be. Just like L2, there aren’t linked questions where the answer to one is dependent on the next one. I found it odd Schweser would do this.

I have seen some past papers with linked questions. If you can’t answer Q1, you can say “Assuming GDP for Q1 = 2%”…

I think the grader would be trained to grade Q2 and Q3 correctly even if you get Q1 incorrect, based on your Q1 answer.

As of the time of this writing, the average morning/afternoon scores are 54%/60%, or an aggregate score of 57%, roughly 205/360 points.

Mine screen shows AM = 67%, PM = 48% (this is a few seconds after your post). earlier today it was at 70%/51%

Interesting. Works out to about the same aggregate score, but much different variation. Wonder if the site is still getting settled from all of the entries.

To make sure we’re on the same test, was the first question the Continential Insurance ?

Yes, and #2 was Southern Corp.

FWIW, on my page it still says average scores are 54%/60%, but the numbers have just barely changed.

How long does it take them to score the test?

Are these the same mocks available for purchase, or is this a special mock they put extra work in?

I am a retaker, so I was very critical of my AM grading and I got a 74. I used the site to grade the PM portion, and I got a 62, with 3 easy questions missed in the first Ethics item set. FWIW, I also see an average score of 60.52 for the PM session.

Mine now shows 67%/52%.

These are special mocks called the “Live Mock”. They include video explanation of every problem (AM & PM). I think together its 72+ hours of video explanation. Its through and good (better than IFT’s video explanation which just repeats the answers with the guys voice).

They are self graded with a guideline answers for the AM. The PM is the typical answer guide. You input your scores into their system, and then it runs statistics.

I finally got around to scoring my AM mock using the Schweser website and I am seeing an average of 54 AM / 60 PM. Which is obviously different than what you got. This either means

  1. Schweser creates peer groups by some commonality like geography. FWIW I am in PA.

  2. Different mocks, although I think we’ve confirmed we are talking about the same mock - just for kicks, these are the names: Contential, Southern, NHA, Cohen Family, Tryun, Tumpter, GJA, MU, Wright and Robins Portfolio Management.

  3. No clue - but it will definitely bug me.

What in the “where do I sign up for this mock exam” are you guys talking about?

Help a dude out.