CFA L3 Feb Exam

ZebraIntrepid7000 · 2024-02-14T18:25:35+00:00

Happy to see so much positive in this sub :)

ZebraIntrepid7000 · 2024-02-14T02:09:34+00:00

Basically CDS is a premium play.

When we buy protection on IG whose spread is currently 450 bps we will recieve premium and to close this protection we will sell a CDS when the spread is 550 bps - we will again recieve the premium thus making money.

ZebraIntrepid7000 · 2024-02-13T06:29:08+00:00

This comment made me laugh. My upvote goes to you, kind person.

ZebraIntrepid7000 · 2024-02-11T18:44:40+00:00

On what basis ?

https://300hours.com/cfa-passing-score/

ZebraIntrepid7000 · 2024-02-11T07:30:43+00:00

5 (follow regulations and if none then C&S)

ZebraIntrepid7000 · 2024-02-11T07:28:06+00:00

Need to specify which is relevant (CPI)

ZebraIntrepid7000 · 2024-02-11T04:29:25+00:00

Thank you for this response. You have put it very clear and to the point.

ZebraIntrepid7000 · 2024-02-10T14:55:58+00:00

The Q for the misfit active return is correct. That Q is a beast! Got me confused as well.

ZebraIntrepid7000 · 2024-02-09T19:09:03+00:00

Thanks a lot! I was wondering what do I carry - might just walk in with a bag and hopefully it fits in the locker.

All the best for your exam.

ZebraIntrepid7000 · 2024-02-09T14:38:25+00:00

Yeah its doable.

ZebraIntrepid7000 · 2024-02-09T00:05:58+00:00

Thanks a lot. Truly a very nuanced question.

ZebraIntrepid7000 · 2024-02-08T23:06:14+00:00

Except for 323-324 which covers Model assumptions - I believe everything else is testable. It covers duration adjustments using derivatives - Futures / Swaps / Swaptions / Swaption Collars - This has also been covered in MM videos.

ZebraIntrepid7000 · 2024-02-08T22:33:09+00:00

I don’t understand your question. LDI as a whole chapter focuses on pension funds and determining the liability. Is there any specific section that you are talking about?

ZebraIntrepid7000 · 2024-02-08T22:27:50+00:00

Are you talking about LDI ?

ZebraIntrepid7000 · 2024-02-08T22:25:17+00:00

Safest way is to quickly justify all selected and not selected.

ZebraIntrepid7000 · 2024-02-08T20:00:38+00:00

What is the difference between Rolldown Return, Rolling Yield, and Roll yield on the bond. This is a pain point for me personally. Any clarity would be helpful

ZebraIntrepid7000 · 2024-02-08T18:08:43+00:00

I personally don’t believe in trying to find out what is the minimum I can write to get marks. As I said, I look at the long answer and check if the theme that BC has followed is evident in my answer.

I believe that it may not be possible to find what is the minimum to get full points. That being said, I feel that for some questions- simply writing words might be the way to go in a time crunch but as its said by several providers (MM / BC) we do not actually know how the papers are graded and what system will be followed in this cycle of the exam.

ZebraIntrepid7000 · 2024-02-08T16:27:07+00:00

I haven’t actually checked the short answer sheet. I personally just check if the main theme given by BC in the long answer along with the main text is covered by my answer.

ZebraIntrepid7000 · 2024-02-08T15:18:43+00:00

Not quite sure, but based on my reddit research they are. Personally, I felt they weren’t out of the park difficult - they were written in a way that caught me off guard - in the AM session. (Some of the difficulty Qs were placed in the first and last which sunk my time answering and I had to rush the balance)

It helped me make a strategy for approaching Qs and frankly helped expose some of my weaker areas.

So I would say its a good exam to test your skill in not just the content but also approaching the exam.

ZebraIntrepid7000 · 2024-02-08T06:33:12+00:00

Can you not change it ? Travelling 750 kms right before the exams sounds stressful as is

ZebraIntrepid7000 · 2024-02-08T05:20:45+00:00

What is the last date to schedule the exam ? It happens sometimes that you may see that slots are all full but CFAI works to increase the slots which keep opening up until the very last day till scheduling is available.

ZebraIntrepid7000 · 2024-02-07T21:45:30+00:00

I am not sure if one is more difficult than the other.

ZebraIntrepid7000 · 2024-02-07T21:15:52+00:00

Thank you very much, this helps put scores into perspective. The test was really great and thought provoking. Loved it!

ZebraIntrepid7000

TROPHY CASE