Outline, Pages 2 (384 words)
CFA Curriculum/Blue box examples/EOC problems Month 5: Schweser Slides=>Take practice exam (8X) BOOT CAMP strongly recommended (Creighton University provides an exceptional LIII Boot Camp—Marc Lefebvre teaches the course and has put together an impressive strategic outline) Question Format – Morning: Essay ? Focus on writing key words (study previous actual CFA exam answers and learn what these key words are—just remember that the CFA guideline answers are also considered “perfect” so don’t think you must include everything stated) ?
The morning essay questions are the least correlated with questions from the actual CFA curriculum; therefore, it is absolutely necessary to study past actual CFA Level III exams and familiarize yourself with how they’ll ask questions—you’ll be surprised at how well you may know the material but not quite understand what the questions are asking for – Afternoon: Item Set Multiple Choice ?
READ THE QUESTION FIRST! 90% of all questions asked follow the item set chronologically (first portion of item set relates to 1st question, 2nd portion relates to 2nd question, etc.
First paragraph is usually an introduction that can be skipped to save time) Special emphasis on essay format (master your timing—Individual Investor IPS/Return Calculation should take < 10 min).
DO NOT rely on year to year correlations in question types—expect ANYTHING to be tested – Prior exams are published and are a necessary resource CFA Practice Exam only includes the afternoon item set section; you must take Schweser practice tests/actual prior CFA Level III exams to incorporate the morning session – One of your top goals should be to finish the morning session; many candidates have failed due to the inability to finish—you’ll be surprised at how many extra points you can earn just for taking educated guesses –
CFA Level III exam is by far the most difficult although the material is a breeze.
Therefore, you must conceptualize the material rather than rely on pure memorization. Special Note: For Level I candidates, place special emphasis on ethics and portfolio management concepts. An in-depth understanding of both saves time from LII and LIII down the road. Memorize Code & Standards and read ALL ethics examples! Portfolio management concepts such as portfolio standard deviation and portfolio variance are recurring concepts that are extremely important for LIII. Taken Directly from the CFA Institute Website