Yo-Man’s WoW for next week’s CFA Exams [30 May 2010]

Hi folks,
Some of you have received my previous mailers, and I would like to share with you my updated summary sheets for Level 2– Portfolio Mgt…..and an extra item set for your practice, if deemed relevant.  If you wish to have the solutions, do send me your answers first =p

I received some comments recently that there are ppl who only do intensive study in final 2mths, and do mock exam just 1wk before CFA exam, and still can PASS!  Indeed, I know of someone who fits this profile; he is my former colleague whom I regard very highly and let’s refer to him as CML (his initials).I have done a comparison of our profiles, CFA Exam Preparation Technique, Track record in school and at CFA exams, and also give some rough breakdown of the total population who use either Yoman technique or CML technique, and whether they PASS or FAIL.





· Single

· Did CFA levels 1 & 2 prior to joining industry; Level 3 when just joined industry few years ago


· Married with two boys, who are always trying to get his attention

· Fund manager; did all three levels while in the industry

CFA Exam Preparation Technique

· Start 4-5mths ahead and do 1 study session each week, with practice of concept checkers

· Complete all material once by 8 May, and leave ~1mth for intensive mock exam practice

· Do 5-10 mock exam papers in that period

· Start leisurely reading program curriculum texts and enjoy reading more difficult topics first

· Final 2mths browsing material at full speed

· Leave final 1wk for intensive mock exam practice, and do 2-3 mock papers


Track Record in School

Former straight Ace-student

Happening lifestyle during school days, but still always able to sail thru exams

Track Record at CFA exams

· Passed all three levels at first attempt

· Completed the program in <2yrs

[Lvl 1 in Dec; Lvl 2 in Jun; Lvl 3 in Jun a year later]




Population Mix

Use Yoman Technique

Use CML Technique







Note that the #s in the matrix are just my estimates, based on conversations with numerous former students and friends.
Now, you can probably understand why the passing rate for CFA exams is so low: (1) passing score is close to 70%; (2) many ppl who are not of CML calibre pretending that they are and try to follow CML study technique– the chances of failure is obviously going to be high then!

Yoman’s advice: As we move into the last few days towards exam day, I believe most of you should have done about 4-6 mock papers by now and graded yourself accordingly.. it is important to maintain your composure and not burn yourself out in this final stage of exam preparation.  Just do another 2-3 mock papers if you have time and really spend some time to review the errors you have made.

Target passing score is 70%.  If your score for those mock papers has been:
- consistently above 70%: don’t worry too much, just keep your engine warm, as D-day draws near
- 60%-70% on average: you still stand a good fighting chance of passing, if you can quickly beef up your weak topics
- below 60%: no worries, there’s always another time next season

Finally, if you are a member of CFA Singapore, note that there’s a free exam day lunch service for you, so that you don’t have to jostle with the crowd to get lunch.
*Contact programs@cfasingapore.org to book your free lunch.*

I wish you success on exam day!

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