I will be giving Level-1 in June 2009. This question is more for L2 and L3 candidates: Can you pls throw some light as to what percentage of the questions appearing in the Schweser Practice tests-volumes 1 and 2 can we expect in the ‘real’ level 1 exam conducted by the institute? PS: By similarity, I don’t mean questions ad verbatim but more or less on the same lines. Has anyone done any ‘analysis’ on this? What I am trying to get at is if I cover both the Schweser practice tests 2009 as well as all the questions at the end of each chapter of the CFA curriculum study materials, do I stand a reasonable chance of clearing Level-1? Enlighten me, oh Level-2/3 takers! Thanks,
yeah, i think u will stand a really solid chance.
When you see the free sample exam in a few months you will get quite solid understanding of what’s the difference between Schweser and CFAI. I would say that Schweser questions are OK to understand main concepts. It’s a kind of tool to help you prepare, not the imitation of real exam. Real one is more concept-based without difficult calculations. However if you master with Schweser questions, it may be an indication of your sound knowledge of material. When practicing with QBank or Schweser sample exams, don’t lose broad picture and always think of concepts and ideas. Again, free sample exam of CFAI will show you your directions for last months of preparation, try to take it earlier even understanding that you won’t perform well with this one.
If you do well on the practice test vol 1 and 2 you have a very good chance at passing L1. I think those practice tests give you a good indication on the concepts that will be tested and ways of testing those concepts on the real exam. I thought they were as difficult or more difficult than the real exam. Try to do each practice test twice.
Thanks a lot guys for all your valuable inputs- although more views are most welcome!
The benefit of doing Schweser questions and the Q-Bank on LI is that you can drill yourself on the critical concepts. On LI there are a lot of questions to answer and material to cover; so knowing how to attack them in an efficient manner is critical to success in my opinion. Do as many questions that you can get your hands on and you will be ready for most of the CFAI curveballs. You will begin to quickly recognize patterns and be able to root out any useless data. Good luck.
This thread rings of irrational exuberance…are you related to Daj by any chance?