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Yeah I’m wondering too, that’s insaneThe Song of the Broad Axe wrote:
Just wondering what you did differently this time around? 350 hours is some serious study time and you seem to know your stuff, shocked it didn’t work.
yeah 350hrs is a ton, and it felt like a ton for sure. if i had to sum up or pick two or three things i am doing differently this time around: knowing the material more in depth, studying the seemingly not-so-important stuff, and not taking L3 lightly. last year, i felt i knew “enough” to pass. i knew the Fed model, Taylor Rule, knew the IPS stuff cold, knew how to calculate the duration of swaps… BUT, i didn’t know it inside and out. I did a lot of review but i didn’t do enough questions/practice.JSobes wrote:
Yeah I’m wondering too, that’s insaneThe Song of the Broad Axe wrote:
Just wondering what you did differently this time around? 350 hours is some serious study time and you seem to know your stuff, shocked it didn’t work.
This is an awesome response man, thanks so much. I’ve been doing a lot of notecards and I’m a very conceptual person, but I’ve been memorizing a lot. I haven’t done many EOCs, but I’m doing ok on the previous CFAI exams. I was debating what to do with my spare time (I still need to read GIPS) but I think you helped be decide that I’m going to go all out on old exams and the 2015 CFAI materials.JuniorCk8 wrote:
yeah 350hrs is a ton, and it felt like a ton for sure. if i had to sum up or pick two or three things i am doing differently this time around: knowing the material more in depth, studying the seemingly not-so-important stuff, and not taking L3 lightly. last year, i felt i knew “enough” to pass. i knew the Fed model, Taylor Rule, knew the IPS stuff cold, knew how to calculate the duration of swaps… BUT, i didn’t know it inside and out. I did a lot of review but i didn’t do enough questions/practice.JSobes wrote:
Yeah I’m wondering too, that’s insaneThe Song of the Broad Axe wrote:
Just wondering what you did differently this time around? 350 hours is some serious study time and you seem to know your stuff, shocked it didn’t work.
This year, I was not moving on until I knew something inside and out. I know the Taylor rule, for example, but more importantly, I want to know the 10 different ways it could be asked and how to answer it (this comes from knowing it, obviously, then doing a ton of CFAI questions). Same with swaps, IPS, etc. I did a ton more questions so far this go around: I did every EOC question this year (all of the MC questions at least twice), last year I did maybe half of them once, and this year I did all of the CFAI online assessments. Although some might feel it’s a waste of time, it helped drill down on the material, while also seeing CFAI-like questions and how the material is asked (which is why I am not a fan of doing Finquiz or Schweser questions).
So, sorry for rambling….i guess my advice to those taking L3 for the first time: don’t take L3 for granted. I kinda did last yr (it was hard not to when i was told by many ppl it’s easier than L2 - having gone through it, I would argue otherwise). second, if you don’t know something, figure it out. do not move on, do not pass go or collect $200 until you know it inside and out. if you don’t know how to rebalance a portfolio using futures, do not think “my time is better spent elsewhere” - figure it out, and do not move on until you have it down cold. finally, practice what you know. if you haven’t already, do all the EOC MC questions and as many practice exams as you can. it’s one thing to watch Peyton Manning show you how to throw a football; it’s another thing going out and doing it 50 times yourself. that mindset has helped me know what i know now. there’s still a lot i don’t know, but i’ll keep that mindset going the next 9 days as i master this material…and hopefully pass.