Tricks & Traps

CFA Level II
#21

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#22

You hope. :wink:

#23

incredible i dint see 10% even once

i m a goner

#24

…

#25

edit

#26

What one calculates with the various models is the intrinsic value I would imagine. And you’d have to compare that to the market price to determine whether or not it is overvalued. So I would think it would have to be within a certain threshold of the intrinsic value.

#27

…

#28

Within 10%

#29

Oo

#30

I get annoyed with questions that directly conflict CFAI texts. I won’t talk about specifics but they mandate we learn very detailed accounting standards and the differences. One question had a “correct” answer based upon data provided in the vignette that actually was not applicable given the accounting method that was being used. The methodology in the question directly contradicted CFAI texts.

“Traps” don’t annoy me because they catch people that

  1. Know the answer and are just careless or running out of time
  2. Don’t know the material thoroughly

However, BS questions that contradict their books and/or can have different answers depending upon interpretation of poorly written questions/vignettes is just that…BS.

Rant done.

#31

http://www.mememaker.net/static/images/templates/14288.jpg

#32

I find this discussion hilarious.

I tell my candidates that CFA Institute doesn’t try to trick you on the exam, and I firmly believe that. They do try to determine whether you really, really know the material. Bear in mind that they’ve been writing exams a lot longer than any of you have been studying for them; indeed, they’ve been writing exams a lot longer than most of you have been alive. They know the kinds of mistakes that candidates make, and are more than willing to give you wrong answer choices that reflect those common mistakes.

Is that a trick? Not a chance.

Is that a trap? Most definitely, for those who don’t really, really know the curriculum.

If you succomb to one of those traps, blame nobody but yourself. You can pass these exams if you really, really know the material. You’ll have a much harder time if you sort-of know it. It’s your choice.

#33

Not sure if this was in regards to my post. Perhaps I was bit confusing.

  1. CFA demands candidates know the differences between the two accounting methods
  2. One of the vignettes clearly stated the accounting method utilized in the question
  3. The vignette then provided assumptions used
  4. One of the assumptions provided was not applicable given the accounting method
  5. A question was direct about the aforementioned assumption and the impact
  6. Additionally, this assumption was utilized in completing the tables and statements in the question
  7. They completed an entire vignette and asked questions about an input which CFAI texts deem inappropriate given the accounting method they chose

Like I said. “Traps” are just meant for people without time, carless, or don’t understand the material. This is not a “trap” it’s an oversight and BS.

#34

Fortunately or unfortunately I only read Schweser and am not exactly sure what you are talking about. Did you write CFAI and complain? I wrote on one question CFAI books (after I double checked) was NOT clear on.

I wish CFAI would personally respond to exam complaints (even if it took them a while and was from a junior person).

#35

Actually…I think I might. Who knows? Perhaps they come back with “you misread the question” which is totally possible.

#36

FRA tricks?

#37

What do you condisider an “FRA trick”?

#38

Not tricks, Michael, ILLUSIONS. A trick is something a whore does for money.

#39

just play it cool Vicki just play it cool

#40

I know exactly which question and vignette you are referring to. I’ll call it a “trick”. A very “nasty one” i must add. But I was carefull enough to avoid it.