AuthorTopic: the exam was painful
@2015-06-08 21:31:25
Wow, that was a painful exam. My head is killing me. My morning session was more difficult than the afternoon session, thankfully.

The biggest difference I noticed was the number of 'double' questions - questions that actually asked two questions, and required twice the calculations and recollections. 240 questions my ass! More like 400 questions, at least. And if I got half of one question right, I got 0% credit, which significantly decreases my chances of passing.

I couldn't believe the minutes involved in some of those questions! Are they testing my financial knowledge, or my ability to remember unimportant albeit interesting facts? Are they testing my ability to decipher poorly structured, run-on sentences? Dozens of questions tested my ability to determine if not having a positive reaction to mostly negative news during times of negative anti-inflation is mostly good or mostly bad. There were 100 questions that started "An analyst gathered the following facts..." I want to find that analyst and stomp his testicles!!!!

I won't be surprised if I passed, or if I failed - I honestly have no idea. I think the FSA stuff was easy overall, and the economics stuff was pretty straightforward. The quant stuff was as bad as I had imagined it could possibly be. The ethics stuff was just completely, totally, absolutely removed from anything I studied.

I needed to rant a little, I'm done for now.

@2015-07-04 17:58:33
Yup....Double questions-- what I call "bias questions"---
1)Calculate something...
2)Figure out how it affects a ratio...
3)Then figure out how that Ratio affects a Financial Statement or another Ratio.


After a BRUTAL MORNING SESSION... I tallied the number of questions on the Afternoon session that included either an "AND" in each individual answer choice, or an answer that presented "two columns" of choices... basically you gotta figure out at least two things.

I tallied 40 questions-- fully 1/3 of the questions on the Afternoon Test.

(Yeah, I know may seem like I had some extra time on my hands... I did... but only because after the first session I was more interested in figuring out a study strategy for next time.)

Theres gotta be a way to walk through these type of questions WITHOUT doing the time consuming calcs-- but simply understanding the "biases" at a high level in your head ie:
1) This factor causes this ratio to increase/decrease
2) that causes that factor to increas/decrease
3) that causes that factor to increase/decrease

Any Ideas?

CFA Discussion Topic: the exam was painful

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Your review questions and global ranking system were so helpful.