just took it this morning… glad it’s over.
time for the braindump!
I got it tomorrow. Excited to get it over with.
Good luck ChickenTikka !
I’m still ramping up the studying; writing next week.
I sat it last Thursday and struggled for time in the morning. Wendy what did you think of the FRM program. Was there much overlap with the CFA?
Initially I struggled for time in the morning too, but after the first topic I started moving faster (got some topics I was more comfortable with & some nice calculations) and ended up finishing with 20 minutes to spare or so.
I started the morning session and thought I would have loads of time, but I finished with only about 15 minutes remaining. Definitely the time went past a lot faster then for Level 1.
The constructed response section though was a different ball game. I finished that with plenty of time to spare - not that I had everything down pat, rather that I didn’t see the point in trying to provide information of pad things out with unasked facts which may have been incorrect.
Did anyone else think that the constructed response had too much time alloted, and morning session could have had anohter bit added on?
I agree had nearly an hour spare for the essay part.
I agree had nearly an hour spare for the essay part.
Yeah that morning session was crazy. I ran out of time and left about 5 questions unanswered. I was pretty pissed, that was stupid. They should just make the morning a 3 hour exam. I felt that it was really unfair. This is coming from a CFA charter holder that never ran out of time for the CFA exams.
And the second part of the exam was a joke in terms of difficulty. The time crunch in the first part made it much harder than it had to be. Did I already say I am dissapointed with it? Yeah, I really am.
I am sure you will be fine, those 5 questions even if you just guessed them probably won’t make too much difference after all you already have CFA and I am sure you will more than scrape a pass.
I do think a bit more time in the first session and either a bit less in the second, or more questions in the second would have been fairer.
Anyway all we can do now is wait and see - after CFA and CAIA whats next? I have just got stuck into Level 2 CFA as soon as I sat this exam as I have a lot of work to do before June now.
Good luck with CFA level II - hardest test I have ever taken.
I had to guess on about 5 questions on the morning section without even really trying to do them. All stuff that I knew how to do but would just take me too much time to calculate. I’m slow on calculations so I usually avoid them until the end when they are complicated length shit like binomial trees.
In this case, I didn’t have time for them. Then there were plenty of questions where I just had to guess.
All this hoopla about short gamma long gamma exposure. Where did I miss that in the curriculum (I read both schweser and uppermark)? I don’t recall seeing Gamma (outside of the obvious options stuff which I undertsand just fine) and the real estate management thing, which is not what I’m referring to. I got about 5 questions asking me about various gamma exposures and how they relate to various hedge fund strategies.
I thought the questions on the morning were fairly challenging. Once again, I have no idea how you are supposed to feel prepared based on the schweser practice questions. The exam asks you to do a lot more than you would think just looking at their readings. I highly credit the CFA stuff I have done before if I happen to squeak out a pass.
The essays were bizzarre and I finished them with a lot of time to spare as well. I couldn’t get exactly what they were asking for on a few of them. Fortunately since it is an essay I am able to tell them, “Well if you are asking this then the answer is this. If you are asking that then the answer is that.” I know they just grade the first thing you say, but we’ll see how it goes.
I had one essay question, which I don’t want to go into too much detail on, but it basically said, “What was the key finding of the article about xyz.” I thought this was a total bullshit question as this article had about ten different academic studies in it that had different findings either for, against, or inconslusive. I’m a liberal arts major, so I’m used to bullshitting this stuff, but really. What a bullshit subjective question!
All in all, the CFA is a much better test in terms of the quality.
April 23rd!!