Schweser QBank Level I

Hi, I was thinking about purchasing the Schweser QBank for Level I. Do you think it’s worth it? How many questions does it have? Also, how do you use the download or online program. Could I use this at work and at home or does it only allow for one location somehow. (Basically should I go for the CD or the download if I get it) Thank you!

Good to drill in concepts. Poor proxy for actual exam questions. The EOC questions in the CFA Books should be your most important source of practice questions.

I wrote level I in December and passed. The Qbank was one of the most helpful tools to help me prepare for the exam so I definitely think it is worth it. I downloaded the program (I think) and was only able to access the questions from my home computer. Hope that helps.

Thanks for the reply! I ended up getting it and have been using it the past couple days. Have been using all subjects except ethics and have been scoring consistently at about 67%. Is that a bad sign?

you just started, so no that is a good score! keep at it look to improve the areas you are weak in and you will be 80%+ in no time!!

No your 67% is not a bad sign. I started out making scores like that, but have since been scoring in the 80%'s consistently. The Qbank is a good way to keep your skill fresh on LOS that you haven’t read in a while

I would just add to that, don’t rely on Q-Bank alone to prepare. I think you should also take Schwesser mock exams and take the CFAI mock exam. Time yourself when taking CFAI practice exam, it’s the best proxy for the actual exam.

I am currently using the QBank for the level 1 exam in June 2010. Like any other exam the ability to solve questions correctly in the given time (1.5 minutes per question) is the key to passing i feel. It is also a good way of identifying areas that are your weakness, something not quite obvious when you read the material. Theory and application of the theory are entirely different.

I do it section by section. I usually start around in the 60%s and by the time I’ve taken a few tests I end up around 80%. I’m going to do that with every one of the five books. After that, I’ll go back and do some 120 question overall tests. I’m dedicating May to taking a Sample/Mock Exam every week, then cramming all the sections I did badly on each week. Sound like a good strategy?

Guys lets not avoid the advice of beatthecfa I think on this forum (For L1) no one knows better then him (Trust me on that). If you plan to do Qbank only do advance questions. I will recommend buying Secret Sauce as well and going through it again and again and again. Most of the command words in LOS’s are like Describe, Explain etc so we are just supposed to know the terms. I failed this exam last december due to personal reasons but I was sure If I just knew the material without doing any practice question. I would still pass the exam Try to remember and use your creativity to remember, remember, remmber the material in and out !!