How insane does it get?

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BigShark

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Hi guys,
Quick question: While going through the equities book, the EOC often has questions that require a full on spreadsheet–as in projections into the next 3-4 years of an income statement or B/sheet, and finding the PV of all that. Right now, i’m doing them in excel to save time and just to test if i know what the heck i’m doing, but the question is…
Are there questions like that in Level 2 exam that require us to create a spreadsheet like that? If so, how on earth are we supposed to do it given the time constraints, and lack of space?
Thanks!
 
No. Some of these EOCs are there to demonstrate concepts, not actually representative of exam questions.
 
I was born there yes, but didn’t live there. How’d u guess?
 
BigShark wrote:
Right now, i’m doing them in excel to save time and just to test if i know what the heck i’m doing,
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It’s very tempting to want to use Excel, because you don’t want to make the same calculation 35 times. But I’d strongly suggest not using it. You can’t have it in the exam–don’t get used to it now.
Remember that you only have three minutes per question. They’re not going to ask you to calculate standard deviation, and give you 50 data points. That would be too time consuming, and not really in keeping with the “conceptual” nature of the CFA exam.
 
I have an inate ability to see the race of people, even over the internet.
 
The CFA Institute question writers have an uncanny knack for writing difficult questions that can be answered in the time allotted, assuming that you’ve mastered the material.
As mentioned above, there is a difference between questions designed to help teach you the material (EOCs) and questions designed to test your knowledge of the material (exams).
 
Thanks greenman72 and S2000magician for the replies. It’s always good to know what to expect.
 
S2000magician wrote:
The CFA Institute question writers have an uncanny knack for writing difficult questions that can be answered in the time allotted, assuming that you’ve mastered the material.
Click to expand...
Agreed. I have taken many exams, but none are more well-written than the CFA exam. That is–a person who knows the material should be able to pass handily. But if you don’t know the material, you’re screwed. You can’t “eliminate the wrong answer and guess” like you can on other exams.
And after taking Level 2, you’ll understand what I mean by “conceptual nature of the CFA exam”. And that will aid you in your preparation for Level 3.
 
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