Written by CFA charterholders. Sub-topic analysis, exam strategy, and everything in between.
65 articles · Page 3 of 6
Two exams, three levels versus two parts, and roughly double the cost. The real decision is not which is harder — it is which credential th…
Candidates ask what mock score guarantees a pass. The honest answer is that no score guarantees anything — but the trend, the conditions an…
WACC is short, appears constantly, and is one of the most reliably mis-answered calculations on CFA Level 1. Almost all of the errors are i…
Most Level 1 Derivatives questions that look like valuation problems are rearrangement problems. Put-call parity is the rearrangement.
Level 2 is not harder Level 1 with longer questions. The vignette format has its own failure modes, and most of them are fixable with a con…
The PSM is the only part of the CFA Program that can void a passing exam result. It is not examinable, it takes 10–20 hours, and a surprisi…
DuPont questions rarely ask you to compute ROE. They give you four components and ask for the fifth — which is trivial if you know the sequ…
One measures the manager. The other measures the investor. Getting them the wrong way round is the most common error in Level 1 performance…
Most FX marks are lost before any calculation begins — in reading which currency is which. Fix the notation and the arithmetic becomes rout…
For independent projects the two rules always agree. For mutually exclusive projects they can point in opposite directions — and the exam i…
Most hypothesis testing marks are lost in the setup — choosing the wrong null, the wrong tail, or the wrong test statistic. The calculation…
Level 2 regression questions hand you an ANOVA table and expect you to extract four things from it. Knowing where each number lives is most…
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