I just finished the first one. Made a 66% (better than my Level 2 TesTrac tests).
My gripe with these is that not only do they really test around the edges, the question structure is terrible. For example, a question will be set up as, ‘choose the least applicable reccomendation.’
Then the choices will be
A) applicable reccomendation
B) not applicable reccomendation
C) irrelevant reccomendation
The answer then identifies B as the correct answer, explains why A is a correct reccomendation, then is silent with regard to C.
these are supposedly meant to be diagnostic so the questions are very weird I agree. I’ve taken them two years in a row for level 2 and now for 3 and I still don’t think they are beneficial at all. Complete waste of money. The level 3 one says I need to work on portfolio management… well you dont say
When I was studying for level II, last year, I took one of the sample exams and I scored a 36%! And I ended up passing the exam. I took that 2 days before the real thing and I about cried.
Just took the first one and also received a 66%. There was one quesiton that I believe omitted information (mgmt fee that was required to calc required return). My L2 testtrac scores were in the 50% area and I was able to pass the actual exam.
73%… Ethics utterly destroyed me, got 50% there… Other sections were better. There were several questions that just seemed like they were trying to make the wording obscure as possible, very frustrating.
***spoiler for one question so don’t read below this if you don’t want to see it***
On your mgmt fee question, they provided it at the very top of the question, it was tricky because you are using info at the end of the question but then the fee was at the beginning of the vignette.
Ah! I re-read it a few times and must have kept on missing it. Definitely agree with your comments, there were several questions that did not see too clear.