Schwesers Practice Exam V1

CFA Level III
#1

I did one past CFA exam. Now i am doing exam 1 from Schweser Practice Exam Volume 1. I don’t agree with some answers in Schwesers. They don’t seem to be in line with CFA. CFA mock guideline answers were in line with reading material. I.e. if you go to that reading that is related to the question, you will find that stuff ties in with the guideline answer. This is not the case for Schweser. For example: they say that advantage of Goal Based Investing is that it will make the investor stick with the strategy through adverse markte condition. But in CFA that is an advantage for BMAA strategy. Also, for liqudity Schweser says that we should consider one time cash expense as part of liqudity constraints. But shouldn’t that be deducted from investable base. The client does not have enough pension income to cover their retirement living expense, but schweser’s answer does not talk about that as part of liquidity requirement at all.

So, how much stock do you put into schweser answers? Should I add/edit my notes based on it?

Thanks!

#2

I did all of the schweser mocks and I agree they feel less straightforward than the CFAI past exam I did (4 so far). Don’t get me wrong I still have shitty scores on both, but on the CFAI at least I feel more like I did not know the material well enough and less than the answer was a bit arbitrary given the question. My two cents