I will be sitting for LI this June and would like to have a guage as to how well I am preparing. That being said, how indicative are the scores from your actual LI exam to the CFAI practice test scores? Thanks for your help, TheChad
I was averaging around 80% +/- 3% on the CFAI and shweser tests…It was dead with my actual results on if you use the 40/60/80 rule. I think most people will tell you that >70% is what you should try to get for some wiggle room but I think you can pass with a score below that.
low 70s on Schwesers book 6, high 70s to low 80s on CFAI exams
I have to be honest with you, I didn’t do very well on the practice tests at all. I’m kind of embarrased to admit it but I only took two of the Schweser tests and they were both right around 55%. I thought I was in deep deep trouble but I ended up passing L1 in Dec 07. I didn’t have the highest passing 40/60/80 score compared to AF but a pass is a pass. I think specifically on both practice tests I was getting around 45% for ethics and on the real deal I got >70% To answer your question specifically, there was little correlation (thank god) in my case. There are just so many variables you need account for. Perhaps I understood some sections within each LOS better than others and for the practice tests, I got the questions on topics I didn’t know well and on the real deal I got the questions on topics I knew very well. In hindsite I wish I prepared better and I wish I was able to take more tests. I’d say the more practice tests the better. It will at least reveal your weaknesses. What I did for L1 is certainly a lesson on what not to do for L2, good luck.
high 60s to low 70s on CFAI tests (took them too early on in my studying) Started getting high 60s to low 70s on Schweser exams. Was scoring in the high 70s low 80s leading up to the test.
I never scored higher than a 70 on any of the 5 CFAI exams. I usually was in high 60’s to low 70’s on schweser. I just passed level 1 and didn’t score anything below 50. I’d say, if you are scoring 70-80, then you’ll pass. If you arn’t, just do what I did, LEARN from your mistakes! Take a note of every question you get wrong and then re-read each LOS, write it down, and don’t forget it.
I was also having the same question. Right now I am doing the questions in Schwecer and is scoring 83% on an average. I think it will definitely be different when I took the practice exam as I have to remember a lot more. I am just doing one reading at a time and have to revisit those readings in few weeks, otherwise I will be back to square one. The good thing is if it took five hours to cover a reading; you might be able to do repetition in 1-2 hours. As you know, repetition is key in remembering what you learned.
those end of chapter questions in Schweser are not a good gauge at all. I wouldn’t even score those. Just use those to find out if you have understood the concepts well enough to move on.
As far as the practice tests go, I think it is more important to spend the RIGHT amount of time reviewing all the questions rather than getting all of them done. I say all the questions and not just the ones your get wrong because for me, there was questions I got right but they were either a guess between two possible answers, dumb luck, etc. I would rather only get through 3 of them with plenty of review done on each vs. going from test to test without sufficient review.
I agree with you budfox427. It just prove that you just got the concepts correct. I am sure the practice exams will be lot more difficult.
broodc2, I agree. What I actually did was go through each question one by one and made sure I understood everything before I moved on. Just reviewing a test one time through would take me 3-4 hours.
Thanks for your help everyone, the feedback I have gotten makes it seem like most people will do as well or better on the actual test then they did on the practice exams. Has anyone had a different experience? Thanks again, TheChad
I found the actual exam to be less difficult than the Schweser tests, but only by a shade and in certain sections. Remember, when you boil it down, its just a test. A hard test, but just a test nontheless
budfox427 Wrote: ------------------------------------------------------- > I found the actual exam to be less difficult than > the Schweser tests, but only by a shade and in > certain sections. > > Remember, when you boil it down, its just a test. > A hard test, but just a test nontheless Interesting…
i actually thought the practice exams were more difficult than the actual exam - the exam is about covering good the topics not about being a genius
i agree with florinpop, the actual exam was easier.
I my case, there was good correlation between the practice tests and my actual results. I have no formal finance education, so I had to study extra hard. I did not have time to do any practice exams until the week before the test, and was very nervous about not understanding the material well enough a that point. I took CFAI practice tests #3, #5 and #1 and scored 91%, 73%, and 90%. On the actual test, I got >70% in all sections.
i took 3 cfai tests, 1 schweser practice test. 1st cfai was like 62%, then 72, then 76 schweser was 70% i think. however, i must say that i am someone who finds conceptual questions to be easier (relatively speaking) so on the day of the test, i found the test questions to be easier. although I noticed soo many conecptual tricks that CFAI was trying to hurl at all of us. when i came out, i knew that if i failed, it’s because I got tricked up
I scored in 70-78% range in CFAI tests & Schweser tests. (all timed). I think CFAI tests are must. It contains some questions I didn’t see anywhere else except on exam.