quick parts on saving the CFAI online exam… you can always save and review the online exams by doing screenprint, and then adjust the format and print them out… I have done this for several years… this is my third try in CFAIII, i have to fight my complacency and sluggishness now… I couldnt imagine how I can work harder this year, but JASONSF really gave me some hope here, thanks!
Tambourine, The online exams just weren’t for me and scared the crap out of me. I literally scored 50% the one time that I took it. Yet, I also said that the online exam scared me like the 2005 PM test did. I found the 2006 PM test pretty straightforward. Everyone’s different. I would suggest everyone to take a couple exams and do all the schweser exams, then decide if doing more of the online tests will help you. Fly Fly, (1) focus on the first AM question on each of the old exams. Tear them apart. Don’t just answer the question. Think about how the question could be structured differently. What if they asked for pre-tax or post-tax? Do they have a monthly income requirement in 20 years? Do they have an upcoming requirement in the next 5 years? I even looked at the questions prior to reading the story so that I knew where my rate of return needed to end up. They give a ton of time on this question. If you kill it quickly, then you will have more time for the other questions. (2) Do the end of chapter questions over and over and over again. I would do them after reading a SS and then I did them multiple times prior to the test. I have check marks next to each question to show how many times I did them. Then think of ways these questions can be combined with others. (3) Know the schweser backwards and forwards. If you are light in an area, then read the texts. I used only the schweser in 2005 and both in 2006. I feel that schweser does a great job and you don’t really need to read the textbooks. I didn’t do the end of chapter questions in 2005. This is where the CFAI books are needed. (4) Take the schweser class…and be FULLY prepared prior to the class. Don’t just go in not having read the material. Read all of the manuals and know them prior to the class to get maximum benefit. (5) Make your own flash cards. People laugh at this. I sure did in 2005, yet the cards were a godsend. SS on the front, answer on the back. Hop on exercise bike and quiz yourself for 30 minutes or more. Sit down with a friend at starbucks…hand them your cards, take theirs…then quiz each other. (6) Work out. Find a way to relieve stress. I can emphasize it enough. You are stress balls and you will not be able to quickly access information in your brain if you are stressed. Get on that exercise bike 3-4 times a week. Get some action. Do something. (7) May is for test taking and review. You should know the schweser manuals inside and out by the beginning of may. Then take a test once a day and do quick reviews of the guides.
I’m with JacksonSF… Previous exams and end of chapter are really important to have down, probably to the point of memorization. There is method to the AM questions (Windsor was a really big help for these!) and you really can only get the hang of it by ripping up the previous questions. I also recommend the CFAI tests, costly as they are, because they are as close to the real deal as can be. As for the Schweser tests, I found them counterproductive after the first one. At this point, you should probably understand the time constraints of the test (granted, the AM is a different animal, but that is why you practice for it so much). So then the tests are more about coverage… I also found that the way Schweser made the texts more difficult was to make them more esoteric. Finally, the best prep advice I can give is be honest with yourself about strengths and weaknesses. Really take notice of the problems you are getting wrong and why… I kept track of every problem/quiz/test I took and used the info to guide my prep. It is too easy to underestimate this test and fail (I did once). Good luck.
exercise and have some down time
May I ask: where does one find actual pass papers? You guys mentioned doing a lot of AM pass papers - where can I find them?? Thanks so much in advance!
Thanks GetSetGo!
Great thread and responses. I’ll probably be fully concentrating on the responses in a few weeks or so… almost done book 4, and have to go through book 5 for Schweser, then do the chapter questions, Then the past exams from CFAI (hopefully by early May I’ll be there!) Just too many loosely connected topics make this a challenge!!
Hi Aristotle, I am similarly placed as you. Only that I have to do book 5 and book 1 (right now nearing the end of book 4). How long do you think it will take/you intend to spend on the cfai end of chapter questions.