T or Z table will be provided in test?

CFA Level I
#1

For anyone has taken CFA L1 test before, can you please let me know will these tables be provided or have to remember those critical value? Thanks!

#2

Learn the critical values for normal distribution 68%, 90%, 95%. 99% both for 1 tail and two tail tests. I have not come across a single question about tvalues where t values were not provided.

#3

eom

#4

Note that they won’t give you the whole table, just the line you need and a couple of other distracting lines for lower and higher values. It can be a little unnerving when you expect to see the page of numbers you are used to and only see a table with <10 values in it, so don’t be thrown. Also, I have never know the test NOT to have a question on standard normal distribution…

#5

Hey Guys, I know the critical values for normal distribution 68%, 90%, 95%. 99% which are respectively 1, 1.65, 1.96 and 2.58. These values are for the two tailed tests, aren’t they?!:slight_smile: For 1 tail test, we multiply by 2? Thanks a lot and Good luck for eveyone>.

#6

I have two confusions. 1. Is normal distribution the same as “Standard normal distribution” ? in CFA L1 test? Sometimes, I saw quant questions say some observations are “Normal” without saying :standard". 2. For critical values, I saw some Qbank answers use 2 for 95% two-tailed, instead of more precise 1.96. Does it mean, we have to be smart when doing questions to select between them? Steve

#7

I think 1) yes, and 2) could the Qbank question possibly have said “closest to” when it asked the question?

#8
  1. Normal and standard normal are very different. A Normal R.v. can have any mean and any std dev > 0. 2. There will not be questions on teh exam in which 1.96 would be right and 2 would be wrong and those are both answers.
#9

Thanks Joey, Can you please let me know where in Notes I can find the defination and use of both normal and std normal distribution? Thx Steve

#10

I don’t know but wiki has everything http://en.wikipedia.org/wiki/Normal_distribution

#11

Hey Guys, No one gave me any answer for the the difference between critical values for a 1 tail and 2 tail test :[ Let me make my question more straightforward with an example, is the 2 tail test with a significance level of 5% the same as the critical value for a one tail test using a significance level of 10% (which is equal to 1.96 for a normal distribution). Thanks a lot!! Malek

#12

joeyDvivre, you are absolutely right, and reading your answer on normal and std. normal reminds me i need to start my review today!!!

#13

“The standard normal distribution is the normal distribution with a mean of zero and a variance of one” Joey, you rock! Malek, I think it’s the other way around, 2 tail test with a significance level of 10% has the same Critical value as 1-tail test with a significance level of 5%