mock paper discussion
Hi Guys, Just to be sure, is there any rule from CFA that say you are not allow to discuss past mock exam paper?Thanks
View Article2010 mock paper Rual Investment portfolio
Hi Guys,I would seek advise with regard to his particular questions. (2010 Mock paper question 1)During a recent review with Rual, DuBord notes that tax law changes, effective next year, will lower the...
View ArticleEquitize cash - Derivatives-based enhanced indexing strategy
Equity Portfolio ManagementLOS. 24p - Enhanced IndexingIn a derivatives-based enhanced indexing strategy, the manager obtains an equity exposure through derivatives. A common method of doing so is to...
View ArticleDuration Management
LOS 23.e: Formulate and evaluate an immunization strategy based on interest rate futures.Hedging or controlling interest rate risk can involve either buying or selling derivatives, depending on the...
View ArticleSynthetic cash from bonds - Past CFA paper
A U.S.-based portfolio manager manages an $800 million portfolio ($600 million in stocks and $200 million in bonds). In reaction to anticipated short-term market events, she wishes to adjust the...
View ArticleReading 12, 4.1.1
Can someone give me a hand with understanding how the $640,000 and $695,000 figures are derived in the below example?Even in jurisdictions with relatively small annual exclusions, a gifting program...
View ArticleWhat is everyone's Attempt?
I found level 3 the hardest and I wrote the exam 3 times before I passed. This exam was the hardest but the most rewarding.What’s everyone’s attempt?
View ArticleRisk Management - Forwards Contracts
Schweser Study Session 14 EOC #14,The contract is 3-month. One month into the contrct means there are 2 months left. Shouldn’t we discount by the interest rate to the power of (2/3) instead of (2/12),...
View ArticleToo late to start?
This is for those who’ve completed level 3.I just figured that my next few months are relatvely free (nights and weekends) and was considering taking level 3. I’d greatly appreciate your input on...
View ArticleIPS: Liquidity Needs
What is the right approach to write a complete answer regarding LIQUIDITY constraint as part of the IPS?Sub-topics to my questions:1. Do we need to include calculations when answering liquidity...
View ArticleDuration of a bond portfolio and flattening yield curve
Referring to Reading 16 (Capityal market expectations), practice problem 6B, answer says“Extending the duration of the bond portfolio will be profitable when the yield curve subsequently flattens or...
View ArticleEquity monetization
I’ve searched prior threads but I’m still not getting the picture here; can someone please describe how exactly a risk free rate is being earned by implementing a short the box strategy? The text reads...
View ArticleLevel 3 - Duration
For level 3 fixed income part, does the duration all refer to “effective duration”? Or still have chance to be macaulay duration or modified duration? Many thanks! Regards, Frank
View ArticleCFA L3 videos
Hi,I am looking to write my CFA L3 exam this June. I was wondering if anyone has any advice on which provider to go with or any reviews of providers from those who have already passed.Thanks
View ArticleDo we need to remember the indices in detail?
There are some indices mentioned in curriculum about their styles and the methods they use..Do we need to remember which indices are of what styles etc?
View ArticleCFA EOC Reading 13 Human capital and Asset Allocation
CFA Book 2 EOC questions in Human capital, Asset Allocation and InsuranceCan someone explain to me why for Michael Lee (Question #3) asset allocation is 80 stock/20 bond, whereas for Tom Sampson...
View ArticleUnique circumstances- gift fund
This refers to Reading 9, practice problem 12A, unique circumstances. The information says: We benefit from two investment accounts: - The Gift Fund represents our gift to the college. During our...
View ArticlePersonal LOC secured by company shares
For reading #12 in PWN(2), can anyone give me a little more detailed explanation of how this could be structured? I’m curious regarding some of the details - how does the corporate debt capacity come...
View ArticleAnswering Essay Question
Regards to response to essay questions, how should the response begin? E.g. If the question asks : What are the liquidity needs of Mr ABC over the next year? Should I begin the response directly with...
View ArticleWhat Topics are covered best by Schweser L3 videos?
Are there any topics that are covered well by Schweser?I have heard good stuff about David Heatherington but just wanted to know how good are the videos overall?Are they detailed or are they just *fluff*?
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