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any1 doing level 1 should use this free QBANK I found on the internet ;)

October 30, 2013, 3:42 pm
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ok so i don't really know how tolerant this forum is to piracy because I'm a newbie and just started.

so if any of know anything about 3rd party training providers aka course material providers for CFA then you probably heard of kaplan schweser.
some of their best praised learning material is their question bank (qbank) and hands down i agree. the software has some ridiculous 4000 questions or something, and you can play with the search criteria to set you exams on certain topic. e.g 120 questions on corporate finance right after you've finished the chapter.

heres the link to the torrent.
http://thepiratebay.sx/torrent/8073308/

for those of you who live in the UK, please use any VPN to get to the link to download the torrent into your torrent client. an easy 1 to use it probably hotspot shield vpn.

NOTE: once you've downloaded the torrent into your torrent client you will NOT need to still be connected to the VPN.

those who are like wtf whats torrents whats vpn i suggest you google these terms and learn for yourself its really simple stuff even for non-tech savvys.

I have tested this for virus's spyware malware its 100% clean 100% genuine and 100% works if you set it up correct. you may need to download microsoft Framework but thats quick and easy fix.

well worth the effort and time. you'll reap the rewards by passing the level :)

hope this helps somebody

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Ethics!

October 23, 2013, 10:49 pm
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Guyz any tips to deal with Ethics in a most effective way.
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Practice Exams: Partial vs Full-Length

October 28, 2013, 3:52 pm
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Hi All -

First time poster, long time reader!

I just finished reading the Level 1 Schweser notes (besides Ethics which I'll finish up by the weekend). Along the way I completed all of the concept checkers and EOC questions in the CFAI books (I felt this helped me leave no stone unturned). I'm trying to plan out my "Review Month" and come up with a strategy for the next 6 weeks. That said, two questions for you experts:

1. Is it beneficial to take partial mock exams (i.e. either the AM or PM portion), or dive right in and take full-length, 6-hour mock exams?

My thought was to take half-length mock exams, maybe two per week, for the next three weeks. Then step it up to full length exams over the final three weeks. This would allow me more time to review "rusty" topics earlier in my review phase, and get more "test practice" later on.

2. Is it better to review "rusty" topics BEFORE taking practice exams?

It feels like years ago when I last opened up Econ or FRA. Should I go back an brush up on these topics before jumping into mock exams? Or should I bite the bullet and start mocking knowing that I'll be weaker than I'd like in those areas?

Any advice is greatly appreciated.

Good luck, and keep on truckin'!
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IMC vs CFA Level 1

November 1, 2013, 12:21 pm
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Hey everybody.
This is my first proper post.
Has anyone the IMC exam and CFA Level 1? I finished the IMC exam and thought it was quite easy.
My question is how much of a gap is there between the two?
As I understand the IMC already incorporates 30% of CFA Level 1?

Thanks yall
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Settling the issue of kurtosis once and for all

April 18, 2013, 12:38 am
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OK every time I pass by kurtosis I get confused, so I'm just going to write this all down here and hope the CFA gods here bail me out.

image

KURTOSIS refers to the peakedness of a distribution. So how 'sharp' a distribution graph is. OK so far.
LEPTOKURTIC (blue line) means that the graph has higher-than-normal peaks, and fatter tails than normal. Kurtosis is > 3 in this case.
PLATYKURTIC (pink line) means that the graph is flatter-than-normal, and thinner tails than normal. Kurtosis is < 3 in this case.
A normal distribution (red line) has kurtosis = 3.

Now my main source of confusion is the tails (the underlined parts). The books say that leptokurtic = fat tails, and platykurtic = thin tails, but how can you have fat tails with a higher peak? If most of the distribution is concentrated around the mean (high peak) then there will be little distribution around the extremes (tails), which means there will be 'thin' tails, wouldn't it?

Plus from the chart you can clearly see the blue line (leptokurtic) has thinner tails than the others.

What the hell? Really hoping someone can help me out because every time I see a question that requires me to know about tails I just cry.
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Schweser QBank and practice problems?

November 1, 2013, 7:02 pm
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Hi, thanks in advance for your help.

I am a candidate for the Level 1 exam in December, 2013. I have finished the materials and have been doing practice problems on the Schweser QBank, I have been getting in the mid to high 60's on the first few tests. From what I have been reading the practice problems on the QBank are easier than the exam, is that correct? My scores have been going up with each exam, what score should I be targeting? If the questions on the QBank are easier than the actual exam what other sources for practice problems should I be looking for? I have the practice exams from Schweser and the two practice exams from the CFAI.

Any help would be greatly appreciated!
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First practice Exams

November 3, 2013, 9:29 am
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Thank you in advance for your help!

I am taking Level 1 in December, I started doing Schweser QBank questions this week and was scoring in the mid-high 60's. I took my first full length practice exam this weekend and scored a 50%. I am concerned and plan on seeing how I scored in certain topic areas and going back and re-reading those sections.

Did anyone else experience this? Is this something to be concerned by? Any other suggestions?

Thanks!
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CFA Exam fees first deadline?

November 5, 2013, 10:27 am
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I was planning to take CFA Level 1 next December 2014 (!!!) as I was planning to take another exam before CFA L1. However since I can take that exam anytime, it would probably make more sense to go for the CFA L1 in June and do my other exam later on.
Do people know what is the exam fees for the first deadline? Is it quite significantly cheaper than $1240 for the second deadline?
Thanks
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NPV/IRR Calculator Questions

October 23, 2013, 9:58 am
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Hey all, having some issues with my calculator (BA II Plus) with regards to NPV/IRR questions and my booklet isn't helping much with the right order for keystrokes. Here's an example question, can someone help walk me through the proper touch by touch por favor: The financial manager at Genesis Co is looking into the purchase of an aprtment complex for $550,000. Net after-tax cash flows are expected to be $65,000 for each of the next 5 years, then drop to $50,000 for four year. Genesis' required rate of return is 9% on projects of this nature. After nine years, Genesis Co. expects to sell the property for after tax proceeds of $300,000. What is the respective IRR and NPV on this project?-Thanks all
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EOC Questions are harder/easier than the actual exam?

October 9, 2013, 6:57 am
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I am scoring consistently 66pc on the EOC Questions...should I be worried or happy or indifferent?
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Is anyone studying with 5-a-day CFA?

November 10, 2013, 5:55 am
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I just downloaded their app, planning to buy the product. Not sure whether to buy their study cards or the app? Any experiences from 300 hours forum posters would be much appreciated.
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Schweiser 2011 books still ok?

November 4, 2013, 10:47 am
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Hey everyone
Just wondering I have the Schweiser books but are dated from 2011. Is that still ok or is it important I purchase the newer books? I assume the CFA curriculum remains the same?

Thanks
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Quick question

November 10, 2013, 10:25 am
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Hi guys....so 27 days left to exam. I was just curious how can you improve your score in last couple of weeks besides doing practice tests? Right now im at 60s and i am curious what i can improve...

Thanks for your help.
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Problem with a question from Q-Bank

November 11, 2013, 10:54 am
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Question ID#: 89110

The table below outlines the possible tradeoffs of producing units of cloth and corn for both Country A and Country B.

Country A cloth / corn

1: 0 // 4
2: 6 // 3
3: 14 // 0

Country B cloth / corn

1: 0 // 8
2: 8 // 6
3: 18 // 0

Which scenario best describes the effects of trade between the countries?

A) Both countries would gain if Country A traded corn for Country B’s cloth.
B) Both countries would gain if Country A traded cloth for Country B’s corn.
C) Country B would not gain from trade, because it has an absolute advantage in the production of both goods.

The given answer is (B), which would usually be the no-brainer. But, in case both countries select the second given production scenario, there will actually be a production that exceeds the production in the trade scenario. So I took answer (C). What do you guys think on that?
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level 1 starter, need help for prep....

November 12, 2013, 12:01 pm
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Hi, I am new to this forum. Iam planning to sit for june 2014 level 1 exams. I wanted to know which study notes is better, schweser/elan? or just cfai study guides are fine...can someone tell me how to prep for the level 1...
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last few days, let me share my experience

November 13, 2013, 9:41 pm
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Last Few Days For the CFA Exam

With hardly any days left for the prestigious CFA level 1 exam, let me take the opportunity and discuss with you some points that might change things dramatically for you.

1) First and foremost don't worry about clearing the exam right now! Worry later!:
Right now put your main focus on learning each and every concept, don't leave anything out. You can worry about clearing the exam later and you will get enough time to do that.

2) Level I Exam is not difficult:
Trust me the level 1 exam is not that difficult. Exams are meant for humans, otherwise it won't be there

3) Solve at least 6 Mocks:
The idea behind this is not just that you practice questions but the experience of getting used to the whole 6 hours exam thing, which we are not used to. Clearing the exam is about how effectively you can manage those 6 hours, so it needs practice.

4) Don't Get De motivated By the CFAI mock:
Do not get de motivated by the CFAI mock that is given to you. Do practice it but don't get bogged down with the score. No one gets a good score in that. Instead be smart and try to practice those questions again and revise some concepts that might have got covered in that.

5) Don't Revise The Text Too Much:
The Best way to revise for this exam is by practicing questions. If you want to revise the subject or a certain topic,open the schwezer question bank and practice. You will realize that ultimately you will have to solve questions in the exam and not write essays, so be smart and practice more.

6)Do Not try anything new now :
If you are thinking now that some other prep provider might give me more chances to clear the exam, don't do it. Stick to what you have been using since the last six months. If someone says that CFA curriculum questions are more relevant then at this juncture don't panic. There is nothing like that. CFA is not stupid to give those kind of questions which it asks in the exam and neither are other prep providers stupid to give you questions which are irrelevant.

7) What I had done:
This is what i had done. From now till the last day before the CFA exam, i solved and revised alternatively. Which means 11 mocks and 11 revising days? Trust me it worked wonders for me and honestly i was so comfortable with 6 hour’s exam, that my concentration levels had shot up to the roof top.

8) Relax:
With all the hype about clearing this exam also remember that hard work always pays off. Keep working hard and remember the points i discussed and you shall be more prepared to the exam
Keep all these points in mind and try to be as efficient as possible in these last few days and stick to the plan you have made to approach this exam. Since this is the first exam of the CFA you will be a little anxious about how the exam would turn out but don’t worry. It’s going to be one of its kind of experience you will ever get.

Mail me If you have any queries: allena@proschoolonline.com
Visit my website to read more articles & download CFA Level 1 mock: http://proschoolonline.com/cfa-course
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Free L1 mock exam from BPP

October 29, 2013, 5:27 am
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Quants: Study Session 3, LOS 9.i

November 8, 2013, 3:03 pm
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I am in the process of debriefing a practice exam and confused on the answer.
Question: A continuous uniform distribution is bounded by zero and 20. The probability of an outcome equal to 12 is closest to:
a. 0.00
b. 0.05
c. 0.60

I put 0.05 because 1/20 chance of getting any random variable in the range.

However the answer key say 0.00 because the distribution is continuous, the probability of any specific outcome is zero.

If the question didn't have the word "uniform" I would get it - but now I am just confused.
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Personal belongings policy.

November 17, 2013, 5:37 pm
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Hi, thank you in advance for your help.

I am registered to take level 1 in December (in New York @ the Javits Center).

Can someone provide more details on the personal belongings area? Is it just a free for all where people drop their bags? Is it best to bring a bag that stands out to make it easier to locate? Am I safe to put my cell phone in the bag?

Thank you, just trying to understand as it seems rather chaotic if everyone is just dropping their bags in an area of the Javits Center.
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Gum Chewing

November 17, 2013, 5:39 pm
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Hi, thank you in advance for your help.

I am taking level 1 in December, I am someone who finds people chewing loudly and snapping their gum to be very distracting. I have purchased ear plugs but am concerned that if someone is doing that near me I might be distracted.

Is this generally a problem in the exam room? Do the proctors address this? What can I do if someone near me is doing this?

Thank you!
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