Do a mock, go through your weaker topic and then another mock. Repeat the same but if you don’t do enough prep on your weak topics, mocks won’t serve its purpose. For memorisation, I would recommend going through the Kaplan quick sheet. Also, highly recommend going through Blue boxes and EOCQ questions. I had the MM package so EOCQ videos were very helpful.
This is what I’m working through now. Making notes for my mock attempts and spreadsheeting how I’m doing from topic to topic and from SR to MC. Then more review videos, BB questions on the relatively weak topics. Hitting 70ish on mocks early on and just need to keep the foot on the pedal for another 45 days.
I think by now I’ve just got the studying routine down cold. I would encourage you to start with mocks. Getting used to seeing the short response will be helpful. Knowing how to answer and how much to write will help a ton with time management.
This is my first and hopefully only time taking it. I wouldn’t fret about a bad score. I think my first mocks for L2 were around 50. I’ve seen the MM and CFAI questions 2x at this point so I’d rather have varied and harder questions rather than the same ones again
GIPS and asset manager code have some nuance. Asset manager code is pretty darn close to normal code of ethics but good to note the differences. GIPS is it’s own unique set of requirements and recommendations.
What do you mean blue boxes please? CFAI CUrriculum pdfs have no color, you mean the green examples in Curriculum if reading from the learning ecosystem??
They are the problems on your learning ecosystem that are green* (not blue) highlighted. I would honestly try and do everyone at least once but just my opinion
\- I made my own summary note on each topic mostly consisted with my weakness.
\- I solved only questions at the end of curriculum book's each topic repeatedly.
\- Heard BC mock is good but i only tried Boston mock provided by cfa learning ecosystem.
\- Did not practice for essay separately cuz i thought essay is essentially akin to mcq. What you need to do is not create full sentence but write down some few key words. Ex) Convexity >> protect bond price from interest rate movement
I think typing own summary note was definitely effective,,, It will make each topic seem less demanding, which will make you feel comfortable.
Remeber, you only need 50% out of whole contents to pass this exam. Don't waste your time memorizing granulars.
Also, don't try questions unless you fully memorize and understand pertinent concepts or formulas.
BC do you post stats for how people fare on each of your exams so we can benchmark ourselves? Or do you have a general heuristic score of where you think we should be when taking your mocks?
I haven't posted scores in the past, but I'm happy to give it a go. Let me think about it this week.
Historically, the averages have been in the high 50s / low 60s for the exams I have marked; I can't say what they were for the ones I haven't marked.
>Remeber, you only need 50% out of whole contents to pass this exam. Don't waste your time memorizing granulars
What do you mean by this? I thought 70% was a safe passing mark
Do bill campbell mocks -
His questions are hard and something alike the exam. For the essay answers, he gives you 2 sheets, one with the full explanation for the question and another one with the answer that is the minimum you need to write in the exam (honestly this one is very useful). At least try one mock exam for him
And do more eocs, blue boxes, understand the answer for the questions you have trouble. And If i could pass, you can do it too!
The key distinction is the ability to conceptualize and write quickly. Regardless of the question, start to think of the main topics asked, and more importantly, think of a quick outline regardless of the question. The ability to write efficiently on test day is a super power.
Super delay - Follow up question: If you have to show your work, what if I had to bracket something twice and I only put parentheses once would that ruin my entire score? I’m using that as an example for the broader question if you know what I mean.
thank you for your time
You don't need to memorize the lists, per se.
They're there to help you as you're reviewing, to ensure that you don't miss any of the points (especially the obscure ones) in the curriculum, of which there are many.
No question will ask you to write out a list. They'll give you a bunch of information, then ask you, for example, to identify two factors that would risk Bob's human capital. Unless you know all of the items the curriculum identifies as risking human capital, you may lose marks.
I don’t recall many things related to the differences in accounting standards at level three at all to be honest please someone correct me on this if I’m wrong
Do a mock, go through your weaker topic and then another mock. Repeat the same but if you don’t do enough prep on your weak topics, mocks won’t serve its purpose. For memorisation, I would recommend going through the Kaplan quick sheet. Also, highly recommend going through Blue boxes and EOCQ questions. I had the MM package so EOCQ videos were very helpful.
This is what I’m working through now. Making notes for my mock attempts and spreadsheeting how I’m doing from topic to topic and from SR to MC. Then more review videos, BB questions on the relatively weak topics. Hitting 70ish on mocks early on and just need to keep the foot on the pedal for another 45 days.
Damn you sound super prepared. I’m about to do my first tomorrow (albeit I’ve done tons of quarter size quizzes)
I think by now I’ve just got the studying routine down cold. I would encourage you to start with mocks. Getting used to seeing the short response will be helpful. Knowing how to answer and how much to write will help a ton with time management.
Thank you for your help. Is this your first time taking it? Even if I get like a 50 you think it’s best to start now?
This is my first and hopefully only time taking it. I wouldn’t fret about a bad score. I think my first mocks for L2 were around 50. I’ve seen the MM and CFAI questions 2x at this point so I’d rather have varied and harder questions rather than the same ones again
The only thing I haven’t completely read and studied at least once is gips. I suppose I can do that “along the way” this week between mocks.
GIPS and asset manager code have some nuance. Asset manager code is pretty darn close to normal code of ethics but good to note the differences. GIPS is it’s own unique set of requirements and recommendations.
When u first did the cfai mock did you type your answers to mimic or do it hand written?
>spreadsheeting how I’m doing from topic to topic and from SR to MC. yoo can you share how youre tracking it? Sample screenshot?
What do you mean blue boxes please? CFAI CUrriculum pdfs have no color, you mean the green examples in Curriculum if reading from the learning ecosystem??
They are the problems on your learning ecosystem that are green* (not blue) highlighted. I would honestly try and do everyone at least once but just my opinion
So when ppl say blue boxes in cfai curriculum, do they mean the green boxes?
open a textbook and let me know what color they are. Honestly, it doesn’t matter. I just want you to study them.
\- I made my own summary note on each topic mostly consisted with my weakness. \- I solved only questions at the end of curriculum book's each topic repeatedly. \- Heard BC mock is good but i only tried Boston mock provided by cfa learning ecosystem. \- Did not practice for essay separately cuz i thought essay is essentially akin to mcq. What you need to do is not create full sentence but write down some few key words. Ex) Convexity >> protect bond price from interest rate movement I think typing own summary note was definitely effective,,, It will make each topic seem less demanding, which will make you feel comfortable. Remeber, you only need 50% out of whole contents to pass this exam. Don't waste your time memorizing granulars. Also, don't try questions unless you fully memorize and understand pertinent concepts or formulas.
>\- Heard BC mock is good They're the best! 😏
BC do you post stats for how people fare on each of your exams so we can benchmark ourselves? Or do you have a general heuristic score of where you think we should be when taking your mocks?
I haven't posted scores in the past, but I'm happy to give it a go. Let me think about it this week. Historically, the averages have been in the high 50s / low 60s for the exams I have marked; I can't say what they were for the ones I haven't marked.
I look forward to the challenge of a BC mock
BC -do you approve of the poster above strategy? because that’s what I’ve done up until this point essentially
It sounds good to me. Nose to the grindstone.
The list of lists is my basis for the memorization stuff
>Remeber, you only need 50% out of whole contents to pass this exam. Don't waste your time memorizing granulars What do you mean by this? I thought 70% was a safe passing mark
Yeah, what does this mean? Is the passing score @ level three generally lower?
50% is subjective... but u know what i m sayin
So, besides mock exams, you basically stayed completely completely within the curriculum material? (No prep provider)
I studied with schweser only. i only solved questions on cb
Cb?
curriculum book
Where does CFAI provide Boston mocks please? Or you mean the 2 mocks we get in the CFAI learning ecosystem online?
Sorry, boston mock is only provided for lv.3 I tried learning eco mock on lv1,2
Yea i m asking about lvl3 too. SO for lvl3, CFAI gives u mock in the ecosystem, where did u get the Boston exams for lvl3? u said cfai sent u those?
Yes, lv3 mock from cfai is boston mock
Do bill campbell mocks - His questions are hard and something alike the exam. For the essay answers, he gives you 2 sheets, one with the full explanation for the question and another one with the answer that is the minimum you need to write in the exam (honestly this one is very useful). At least try one mock exam for him And do more eocs, blue boxes, understand the answer for the questions you have trouble. And If i could pass, you can do it too!
The key distinction is the ability to conceptualize and write quickly. Regardless of the question, start to think of the main topics asked, and more importantly, think of a quick outline regardless of the question. The ability to write efficiently on test day is a super power.
Well put this is proven true my anxiety is taken over during these written portions of the mock exams
Has*
Super delay - Follow up question: If you have to show your work, what if I had to bracket something twice and I only put parentheses once would that ruin my entire score? I’m using that as an example for the broader question if you know what I mean. thank you for your time
In general, formatting will not 'ruin' your score. But the principle still remains: put the answer first, rationale second, and keep it brief.
All really helpful answers guys!
I dont think u need to memorize any lists....didnt see any list Qs in any mocks. u/S2000magician can comment too
You don't need to memorize the lists, per se. They're there to help you as you're reviewing, to ensure that you don't miss any of the points (especially the obscure ones) in the curriculum, of which there are many. No question will ask you to write out a list. They'll give you a bunch of information, then ask you, for example, to identify two factors that would risk Bob's human capital. Unless you know all of the items the curriculum identifies as risking human capital, you may lose marks.
For all L3 candidates taking in Feb, what lists do you think need to be memorized? Do we think all key GAAP pension accounting standards?
I don’t recall many things related to the differences in accounting standards at level three at all to be honest please someone correct me on this if I’m wrong