Trick Questions

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mrd205

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Does anyone know if CFA-I will ask an Annuity Due question and then follow it up w/ an ordinaty annuity question but one of the answer for the 2nd question will be the result of leaving the setting on the calculator on BEG instead of switching it back to END?

Also, what other sort of trick questions should we expect to see at Level I?
 
From my experience the questions are not in the least bit tricky. In fact, they are very straight forward, testing your full understanding of the curriculum.

That being said a word of caution: Just because they are straightforward doesn't mean they are easy or you can fly through each question, there will be very detail information that can be easily missed. Sometimes you'll notice one phrase such as a payment made today (ie annuity due) that can change the answer drastically. My advice is to read each question carefully and thoroughly.

There will be no tricks such as, Double negatives, All of the above, etc. Which technically aren't as tricky as they are just annoying. I would review the following site if you have not yet which will cover in more detail the exam. (www.cfainstitute.org/cfaprog/resources/multiplechoicetips.html)

The more you know about the exam the more you'll be prepared on exam day.
 
I was surprised how straightforward the exams were. Especially L1. I'm not saying easy by any means. Just that they are fair.
 
mrd205 Wrote:
-------------------------------------------------------
> Does anyone know if CFA-I will ask an Annuity Due
> question and then follow it up w/ an ordinaty
> annuity question but one of the answer for the 2nd
> question will be the result of leaving the setting
> on the calculator on BEG instead of switching it
> back to END?
>
> Also, what other sort of trick questions should we
> expect to see at Level I?


Yes. I vaguely remember that this was the case for one of the questions. however, whether you need to reset your calculator depends on how you frame your solution. And I agree this is not a trick question.



Edited 1 time(s). Last edit at Thursday, August 31, 2006 at 02:41PM by CFAAtlanta.
 
Even the CFP(r) exam did not do anything like that. However, the questions on that exam did not use terms such as annuity due. They would say things like "the beginning of the month" or use other wording that, if you weren't paying attention, would cause you to do incorrect calculations. One thing the exam DID do, was if it were an ordinary annuity one of the answer choices was if you used an annuity due calculation, and vice versa. So, you really needed to be careful and REALLY read the question to see what was being asked.
 
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