Whats the consensus on the Schweser level 3 Q Bank?

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danv0330

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Any value?
Is it worth a few points on the PM section?
Do the “hard” vingette style question represent something that would be found on the exam?
I’m thinking about going through the questions (2000) once before I go through the curriculum to get a feel for the material.. Do you think that would be helpful this early in the game?
Thanks
 
I quit using Q-bank early… i didn’t find the questions to be very useful. I essentially relied solely on CFAI EOCs, online practice assessments and old PM practice tests back to 2008 for my review. Then again, i passed by the skin of my teeth.
 
I didn’t touch Q bank this year and passed. I relied on BB, EOC from curriculum, and as many mocks as I could get my hands on.
 
Maybe you should focus on the topic based tests on the CFAI website when they become available.
 
I liked it for drill practice when I was pressed for time and especially useful for ethics. Ethics >70 on all levels.
 
Q Bank is great. I prefer to print off a short quiz and hit questions during lunch, while on hold at work, etc. And since the exam is in print, it helps to have the Q Bank questions in print. The Q Bank is especially useful for targeting weak areas, so I’d say it’s worth it. Quick tip: alter the settings on the software to display the answer on your printed quiz. That way, you can drill the concept down immediately. Good luck.
 
Q bank is okay if you are ahead of schedule, they provide additional questions if you already did most of the normal questions.
The Q Bank questions are, in my opinion, vastly inferior for level 3 compared to the other levels, this is why you can use them as training and concept checkers but they will not prepare you for the AM session properly.
 
I wouldn’t call all of Q-Bank a waste. The questions on derivatives, estate planning, taxes, and the ones on asset allocation were pretty good. the rest were so, so.
 
I personally did not use Q bank at level 3. I relied on notecards, EOCs, BBs, and mocks for PM practice.
 
for the time required to do the 2,000 Qbank questions twice over and the benefit of what concepts get drilled during that process i would say it is definitly worth it !
 
It’s worth it - pokes holes in your knowledge. Yes it won’t prepare you for the AM but it will make you think I need to go and re-read such and such. Agree with an earlier poster that it’s particularly useful for ethics.
 
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