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Is there any accounting or corp fin in CFA level 3?

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Accounting and Corp Fin are my two biggest weaknesses so I was pleasantly surprised when I looked through CFA level 3 study topics. My strengths are derivatives, fixed income, econ and portfolio management. Will level 3 be relatively easier for me? I hated FRA the most on level 1 and 2. 


Behavior finance - value function

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I’m reading the book and the book mentioned below. Is number 2 correct? Looks the other way around….

The value function has three properties:

1. It is defined over gains and losses with respect to some natural reference point.

2. It is concave for gains and convex for losses

3. The function is steeper for losses than for gains

Thanks.

54% pass rate for LIII

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congrats to all who passed!

Will you miss the test?

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I was thinking about how excited I would be to pass the test and then I thought to myself that I might actually miss studying for the test. Is anyone out there with me? Will a small part of you miss the challenge?

Less than 100 hours to go. Pass Rate-54%? Am I the only one with vacillating thoughts?

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With less than 100 hours to go , i can feel the anxiety increasing and am being subjected to all kind of behavioural biases- both cognitive and emotional to justify that i would probably PASS and the mind is not ready to accept the FAIL.  Though thoughts are vacillating between pass and fail , my defense mechanism is to counter a question which i know was incorrect to respond by another question which was right and hoping that the number of rights outweigh the no of wrongs.   I am posting this as after the result if we pass , we would probably be subject to hindsight bias and feel that we were confident of passing.

Are you going through similar thoughts or are you guys matured and calm to have trained the mind and are stoic? If yes, then please share your thoughts so that i too can attain that state of equanimity till 9th Aug 2016 - the R-day?

Changes in 2017 Level III

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The 2017 Level III curriculum has 32 readings. There are only a few changes from 2016.
 
For full details on what has been added, removed or changed you can email us at info@ift.world
 
 
 

Gap Year Between Levels II and III

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Hi All,

I recently passed level II (passed both levels on first try) and am considering if I will sign up for level III next June.  I am dedicated to completing the program, but I am also pursuing a masters degree (quantitative economics) and alternate between masters classes and CFA studying.  It may be the case that the masters makes me eligible for promotion while the CFA does not and if so I would accelerate the masters and push level III to June 2018.

So for those who have taken level III, does this seem feasible?  I took sixteen months between levels I and II (Dec ‘14 and June ‘16) and felt fine.  It also seems to me as if level III is a bit unique in the composition of the material (huge jump in portfolio), so reconciliation of previous content may not be key.  Of course, please let me know if people have experienced otherwise.

Thanks a lot!

Those who used Kaplan, pls come in

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Hi all,

For those who used Kaplan Schweser Level 3, can you give me your feedback on whether you think there were any things in the exam that were not covered at all in Kaplan’s notes?

Or Kaplan Schweser Level 3 textbooks have been able to help you answer ALL questions in the CFA Level 3 exam?


"What Changed Between 2016 and 2017" in Candidate Resources

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Anyone else have this?

Do you know you failed for sure

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Is anybody going into tomorrow knowing that the failed for sure? 

How long can you wait before opening the mail box after the results have been declared?

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 How long can you guys just read the posts on AF once the results have been declared  without knowing your result?

DOES THIS ERROR MEAN I FAILED?

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I just went on the CFAI website, Candidate Resources and clicked on Registration Confirmation and I got an Error:

WF_ERR-CUSTOM_1: No Registration was found for Person Id “xxxxxxx” in Program ‘CFA’ (SBL-BPR-00131)

I guess it means I failed the exam.

Good luck to everyone!

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Keeping this post simple, want to wish everyone good luck for tomorrow!

Waiting for the results is so nerve wracking! 

Good luck !

Access Scholorship Data Collection - Quick and Dirty

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Hey Guys, 

Since we’re all clearly interested in this Access Scholarship ”tell,” let’s try to access the information in this thread.

First: Follow these steps

To See the access scholarship, 

1). Login to member page
2.) In search box ” apply Scholarship”
3.) scroll to bottom of scholarship page, click to apply
4.) As soon as you click to apply, you should see a link in your “Manage applications” profile.

You should see two options: One is “Apply for 2017 Scholarship” and the other has both an “Apply for 2017 Scholarship” and “Not Eligible.”

After finding out which you have, come on here and answer the following questions:

Which message did you receive (both or Apply for 2017 Scholorship only).

Are you a CFA member, affiliate, or a candidate only?

How confident did you feel you passed the exam (1-10 scale).

The only way to determine if this is a tell is to concisely collect data and going from there. Try to keep non-data off of this thread to make the collection process easier.

For the record: I’m a CFA member, I felt I passed 8/10, and I have both messages.

Order Curriculum?


Who is Marc from BootCamp and being in Singapore how I do get to him?

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Per above title………

What are you doing to celebrate

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Congrats to all that passed.  What are your plans to celebrate?

Having a pool party this weekend, plan on buying a replica WWE championship belt, spraypainting CFA on it and blasting the NWO theme song for a grand entrance.

3 for 3 18-monthers, what learning tips would you share?

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For those who passed December/June/June exams on the first go consecutively, what learning tips would you share with incoming exam-takers?

A couple of mine would be:

1.  Spaced repetition matters for retention.  After reading a chapter, think through the key points from the chapter that night, then do the summary the next day, then do the end of chapter questions the day after that.  Leaving it longer than that means you have to review the whole chapter, which is not good use of your time.

2.  Most people taking this exam are reasonably smart.  It’s time constraints that cause the high failure rate, not lack of intelligence.  Do anything you can to make more efficient use of your time.  One tip for making more use of time:  complement your normal reading with audiobooks.  That way when you are commuting to work or on the treadmill or shaving etc. you can be listening to a chapter.  If you’re a value investor and too cheap to buy audio material from Kaplan, there are apps out there for your smartphone that will allow you to make text read out loud to your headphones.  I like @Voice for android combined with the Ivona text to speech plugin - very natural sounding.  P.S. - most people miss the point on this and think “but my reading speed is faster”.  Yeah I’m not suggesting you stop reading.  The listening should complement your reading and makes more use of time that is otherwise lost to commuting or being bored in the gym when you can’t read.  Also @Voice lets you speed up the playback speed to 2x which is faster….

CFA level III - What went well and what didn't - leave your legacy!

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To me practising morning mocks was the deal breaker. I smashed both AM and PM - though my focus was only on AM mocks. Spent last two/three weeks touching base on Ethics and GIPS. My advice dont spend too much time trying to cover all the curriculum material, rather get started with AM section of the exams as early as you can - preferably after each study session. Get into a study group or get someone to mark your mocks - i found the services of these guys very helpful - http://www.level3.analystninja.com/. Simple advice like not spending too much time on relatively low-point questions and showing calculations as graders assign partial credit for correct procedures/partial answers, really helped. Arif videos were a good time saver……..

Congatulations to all Level 3 candidates who passed! Best study materials and what worked for you

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I would like to congratulate all Level 3 candidates who passed the exam, and to those who didn’t pass worry not as what doesn’t kill you only makes you stronger, and you will be much stronger next year and will kill that beast!

I would appreciate advice on what worked well for you, in terms of relying only on the Official CFAI Curriculum or only studying from other providers like Schweser, or a combination of both, etc. I have started with Behavioral Finance and find it very theoretical - seems like the AM portion will test our ability to recall all the theory. 

Thanks!

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