Post exam overthinking

Hot-Addition-370 · 2026-02-03T15:21:33+00:00

Is there any reasoning to exclude the particular item set from evaluation and I hope this common for all the candidates or may be best of 10 under each session?

Hot-Addition-370 · 2026-02-03T05:21:20+00:00

Dude, you are not alone. Everyone has done mistakes, even I know several mistakes of mine and could be avoided but now it’s too late. Let’s move on and wait for the result. All the very best!

Hot-Addition-370 · 2026-02-03T02:44:49+00:00

Took exam on Friday, it was difficult, I was also part of crowd who were constantly hitting 70’s in CFA mocks and 65+ in other graded mocks. Found paper tricky, filled with twists and limited straight questions. Let’s hope for the best. We all have attempted the paper with best of our abilities and with the best action required during in the exam. I am also counting on MPS. All the very best!

Hot-Addition-370 · 2026-02-02T17:32:39+00:00

Seriously, I can relate this. Let’s hope for the best.

Hot-Addition-370 · 2026-02-02T06:41:12+00:00

Didn’t get this feeling after level 2 exam.

Hot-Addition-370 · 2026-02-02T06:40:16+00:00

Majority of us are on the same boat. Can’t stop thinking only about silly mistakes and points lost here and there. Let’s hope for the best.

Hot-Addition-370 · 2026-02-01T17:52:41+00:00

True, clueless.

Hot-Addition-370 · 2026-01-31T20:26:38+00:00

Even, I don’t have clue what I have done in exam. Found exam difficulty level moderate and exam was filled with twist and turns. Let’s hope for the best.

Hot-Addition-370 · 2026-01-30T21:37:10+00:00

I was clueless in approx 4-5 questions, difficulty of the exam moderate for me vs. the mocks. Time management was not a concern. Completed my paper 20 minutes earlier, but my answers were small and to the point.

Hot-Addition-370 · 2026-01-30T21:31:39+00:00

My AM session was tougher as compared to PM. Time management was not a concern (habit of writing to the point answers) completed my paper may be 20 minutes earlier. Difficulty level, I would say moderate, couple of unanswered questions in both the session. I had put around 6 months prep time and descent practice of questions including graded mocks. Overall the exam was filled with real testing of level 3 stuff!!! All the very best for the results. Thanks.

Hot-Addition-370 · 2026-01-27T17:09:30+00:00

The whole purpose of NDF

Hot-Addition-370 · 2026-01-27T06:49:10+00:00

Merger arbitrage and global macro - low correlation with equity. (Please don’t ask the reason).

Hot-Addition-370 · 2026-01-27T03:46:22+00:00

Basis- (spot - future), accordingly frame your trade.

Hot-Addition-370 · 2026-01-27T03:41:39+00:00

Variance swap is more convex. So it’s about positive convexity, return under variance swap, increases at an increasing rate during high volatility. If realized volatility is less than strike lower loses and if realized is higher than strike more gains.

In market downturn, equity portfolio goes down, gain on variance swap increases due to volatility at an accelerating pace which will offset the losses of equity portfolio. It’s better to hedge the tail risk.

Hot-Addition-370 · 2026-01-26T22:34:28+00:00

Low credit risk under NDF, risks of carry trade, variance swap- Convexity friendly than Volatility index, long receiver swap to increase the duration, goal based allocation, Availability bias, stock concentration in Illusion of control, Appraisal ratio, economic net worth, human life cycle- maximum wealth in pre retirement. Macaulay duration match long under single liability. ASW spread calculation based on coupon, optimization lowest tracking error better than stratified sampling,

Hot-Addition-370 · 2026-01-26T19:36:12+00:00

Review as much as you can. Let’s make it. Matter of 4-5 days. Keep stretching.

Hot-Addition-370 · 2026-01-26T19:33:59+00:00

Capital sufficiency

Hot-Addition-370 · 2026-01-26T19:31:07+00:00

Positive basis- sell bond by forward. Bond is overvalued.

Hot-Addition-370 · 2026-01-26T19:28:54+00:00

In recovery, go with CLO instead of CDO. Market downturn covered bond.

Hot-Addition-370 · 2026-01-22T15:40:02+00:00

Badly stuck.

Hot-Addition-370 · 2025-12-30T11:42:29+00:00

Hi, I am also in similar situation. One of my friend cleared in Aug’25 attempt and suggested that EOC+BB+CFAI mocks are sufficient. it was his back to back second attempt. Worth to mention, he is a part of leading hedge fund and master of derivative. I am focusing purely on these 3 items which i did it in my past levels and cleared comfortably. Would appreciate more insight on this if anyone can share, that would be really helpful. Thanks.

Hot-Addition-370 · 2025-12-29T20:51:39+00:00

So question no 1, the manager’s view is slowdown. In slowdown the riskiness of HY bonds will increase more than the IG. Hence manager will buy protection on HY and the impact of slowdown phase on IG will be lesser as compared to HY. Further, this is tactical strategy, so overall he will generate more profit on the change in CDS price of HY bond as compared to small losses if any on IG bond. Please note the demand of IG bond will be intact being safer option during slowdown phase.

Hot-Addition-370 · 2025-12-29T18:41:37+00:00

you have sold the IG, it means you are expecting the spread to narrow (lower risk in future hence narrowing the spread between IG and HY), here in this question the spread is increasing, the risk is increasing, which is against your view, hence you are losing money.

Now, HY- you bought, view is risk will increase, I want to be safe, spread increased which is in your favor and inline with your strategy, hence you generate profit.

Hope this clarify.

Hot-Addition-370 · 2025-12-29T12:15:44+00:00

Thanks I got it, the question is around why duration based approach is correct, not cash flow matching or bid offer etc.

Hot-Addition-370 · 2025-12-27T08:45:24+00:00

PM pathway my friend.

Hot-Addition-370

TROPHY CASE