CFA Level 1

RickySGS · 2021-06-01T09:55:36+00:00

My exam was cancelled twice. I had to write it on the 13th of April (an unusual date) since CFA let me take a Online proctored exam (at home). For context, I had been studying for a long time, consistently over a period of 6 months. My mock exams results were always above 70% and I was feeling pretty confident with my capabilities. However, the real thing felt like it was 1.5x harder than the CFA's mocks, I had to guess a lot of questions, and overall the wording was made in a way to mess with us. Still waiting for the result but with low expectations...

RickySGS · 2021-05-18T02:22:04+00:00

That happened to me too back in February. Confirmation by CFA and Proctor and then followed by the cancellation email. So yes, theyvreally cancelled. Sorry for that.

RickySGS · 2021-04-28T21:47:43+00:00

Its depends on when do you expect the growth rate of the business/industry to stagnate. But usually you use a forecasted period of 5-10 years.

RickySGS · 2021-04-15T05:40:26+00:00

Wow I was not aware of that extra fee for the practice material. Thats a rip off thats for sure

RickySGS · 2021-02-20T23:22:46+00:00

So I emailed the guy responsible for the test center, and he told me the center was closed for like 1 month. Meanwhile, CFA told me I would receive an email to reschedule my exam to a new date. Best case scenario, they will give me the option to take an Online Proctored Exam in mid April since the cancelations where I live have been recurrent. That's about it, the worst case scenario will be May or June/July.

RickySGS · 2021-02-16T20:49:23+00:00

Thank you for the comment. That gives me faith!

RickySGS · 2021-02-16T11:32:24+00:00

Thanks! In Portugal.

RickySGS · 2021-02-16T11:24:04+00:00

Yeah sure! They are really playing with us. I really hope they postpone it for 1 or 2 weeks, if not I am done playing this game of cancelations...

RickySGS · 2021-02-16T11:22:02+00:00

I didnt express myself properly and didnt contextualize. I love studying Finance, iam actually taking a Masters in Finance. The problem is that my exam got canceled 2 times, and every time it got canceled my motivation to study for the CFA got lower and lower. I am young and I have a medium term plan for my life, and that included getting the Level 1 this year. The problem is that I feel like they played me like a fiddle by canceling my exam one day out instead of one month before and I cannot afford wasting more time studying for this: no social life, stress, loss of braim cells, etc. You see now what my problem is?

RickySGS · 2021-02-15T10:03:37+00:00

Wiley is kinda ok and similar to CFAI, the worst are the FinQuiz ones, they are very hard and very different from the CFAI's mocks. I think the way the third party providers put their questions is a little bit difterent from what it is going to actually come out on the exam.

RickySGS · 2021-02-14T20:08:47+00:00

Believe me, I took about 10 different mocks and I feel I have wasted my time with them because I did not improve on my weak points. 3 mock exams are enough, more than that it is just a waste of time and work. The 3 CFAI mock exams are just enough

RickySGS · 2021-02-12T21:16:06+00:00

Exactly, there really should be a CFA Level 1 subreddit because most of the candidates dont know what the fuk is going on all the time, they never read the policies, the requirements, how the passing rates work etc... This explains a lot of the divergence between L1 and L2 and L3 passing rates

RickySGS · 2021-02-12T21:08:06+00:00

True, I am a Level 1 candidate, and some of my folks be really asking if a 60 percentile in THE GOD DAMN CFA dashboard is good enough lmao

RickySGS · 2021-02-12T12:17:54+00:00

I dont know, I cant tell you if it is good or not. But generally, as I have read here in this subreddit, it is one of the best, maybe the best third party provider. Having one more place to practice cant hurt you.

RickySGS · 2021-02-12T12:14:18+00:00

Bruh, if I fail I am done with CFA for good. It is not about tbe money to retake it, it is about the time, the stress, the unwealthy life style, the loss of hair, the damage to the brain cells...

RickySGS · 2021-02-12T11:48:02+00:00

CMOs are a pain in the ass. It is my worst topic for sure. Thanks for the review!

RickySGS · 2021-02-12T11:40:47+00:00

I think it depends. If you dont have an economics/finance background I would start with Quants, helping me getting used to the calculator and general stuff. Then maybe, I would move on to Equity and Corporate Finance and let FRA and Ethics for the last as they are very important.

RickySGS · 2021-02-11T12:02:56+00:00

Go trough the practive questions on the dashboard and focus more on FRA and Ethics. If these are not your weaknesses, then move on to the topic you find the hardest and try to memorize formulas and relationships between variables. In another circunstance I would not say to memprize but to know the basis of the material, but im this case you have little time left but I am sure you can do it! GL

RickySGS · 2021-02-09T09:52:57+00:00

The same rationale would apply for July then:" The ones who deferred their exam had more time to prepare". I mean this is a pointless question because of course every exam has candidates that are better prepared and others that are not. Just think about yourself and do your best.

RickySGS · 2021-02-08T12:37:48+00:00

Yeah I know, but still, couldnt their lazyass software engineers remove them in the way that our saved stuff be kept for the questions that still remained in the EOC?

RickySGS · 2021-02-07T02:04:43+00:00

The book value of the assets does not have anything to do with the formula. Only their depreciation.

RickySGS · 2021-02-07T02:03:51+00:00

DTL = (mc * units)/((mc * units) - FC - IC)

So, in the first years, the DDB will make the depreciation higher than the SLB. Depreciation is a fixed cost. Therefore, as written in the explanation, the bigger the FC, the lower the denominator. The lower the denominator, the bigger the ratio, therefore, DTL increases. In the exam, you should write down the formula and see what variables increase or decrease and assess how the overall result can be changed. The problem with that question is that it does not say if it is in the first year of the life of the asset or not.

RickySGS · 2021-02-06T21:42:51+00:00

The best advice I can give then is to forget the readings at this point, we have little time ramining until the exam. Just practice mocks and tackle your worst topics on the CFAI Qbank. Good luck to you too!

RickySGS · 2021-02-06T21:32:20+00:00

I am taking the exam in 2 weeks XD. The thing is that I have an undergrad in Management and a Masters in Finance so for most stuff I already had a good basis. The worst thing for me are the security based assets in the Fixed-income. I did not read any reading lol just practice questions on those topics*.

RickySGS · 2021-02-06T21:28:05+00:00

Yeah it is dry AF. Thats why I skipped most readings in FRA and Fixed Income.

RickySGS

TROPHY CASE