what was question 11? I really hope I didn’t miss it. I did miss the stupid WACC question; I skipped it to go back to it in the end since I knew it would be hard for me bc I didn’t really cover that material well, but when I finished w/ ~20 minutes and flipped through to other areas I had to come back to and started reviewing I somehow missed it. Then- in the last 2 minutes I saw it there completely blank (it was only one page) and freaked out. I got a sentence down for part “B”. so depressing… I sure as hell hope I didn’t miss #11 too. The fact that you don’t have a clear blank set of bubbles on one sheet to show you what you haven’t done makes the AM a bit tricky IMHO. I remember I skipped though a ? bc I didn’t see it in a practice exam. I should have been more careful- its hard to see what you’re missing when there are so many extra blank pages in the booklet. If I fail I will go through checking them off of the front cover as I finish them. Or at least note on the index that I’ve skipped so I know where to go back to. It was an idiot move on my part but my head was just to out of it. sigh…
i always start at the back of any exam for this express reason. Also, there is a table of contents on any written section.
i missed it - saw it literally with 30 seconds left - full panic attack - i have been working the figures constantly since the exam - i need a 74% overall to pass now on the parts i did complete. not the end of the world but still raises the bar
so anyone remember what question 11 covered? Just want to make sure I didn’t miss that one too…
i think it was the risk adjusted performance measure… info ratio, sharpe, treynor…
yeah, it was performance measure…honestly that question gave me some much needed points after blowing the Indiv. IPS.
As far as I remember, it was on hedge funds, in which you had to mention why the hedge fund benchmak wa inappropriate and had to rank manager#1, #2 and #3 on Treynor, Sharpe and IR.
hopefully you didn’t miss it, askansa. it was one of the easier questions in the a.m.
Shame you missed it mate cos it was a gimmie
I almost missed it too… when i was working on #9 or #8, some tricky question just drove me nuts… so i flipped the pages and found there was a #11!!! i almost freaked out since there was about only 30 min or so left… so i worked backwards, 11, 10, then 9, turned out the later ones were not that hard… it’s really tricky this year, never expected a #11
The question asked about hedge fund benchmarks then asked you to identify the risk measure judged managers based on systematic risk, unsystematic risk, and active return. After identifying the risk measure you had to state which manager out performed. I really feel for you. I finished the morning (and the afternoon) with around an hour to go. I spent the last hour leisurely reviewing and then happened upon question 11 with 15 minutes to go. Fortunately that was more than enough time, but I’m sure a number of people did that.
I’m sorry to hear this, Akanska. I made a similar mistake, but realized it with 8 minutes to go and managed to bang out a semi-coherent answer on #11. I was so freaked out by the near-miss that I literally sat there shaking, like after a near-miss car accident. the questions dealt with reward per unit of systematic risk, and specific risk, sharpe vs treynor, etc. Not worth alot of points i don’t think, but then again every point matters.
can people confirm if this is the correct order? gauravku Wrote: ------------------------------------------------------- > As far as I remember, it was on hedge funds, in > which you had to mention why the hedge fund > benchmak wa inappropriate and had to rank > manager#1, #2 and #3 on Treynor, Sharpe and IR.
IR was definately third. Not sure if Treynor came before or after sharpe.
I didn’t miss it!!- and I def nailed that one. It was one of the easier ?'s
Treynor Sharpe IR
I think first was Treynor, followed by Sharpe and last was IR
pimp Wrote: ------------------------------------------------------- > Treynor > Sharpe > IR This. Reasons? Lower Beta Lower SD and lower active risk?
i went into shock when i realized i missed it - i am telling people it was the dumbest mistake i have ever made in my life. i am still po’d about it now but starting to feel better. i spent ever facking second available on the pm part to do the questions 2X. it actually paid off because i ended up changing 3 of my answers so atleast i go a bit of the marks back.
@ mark. Yes I gave the same reasons, though you could elaborate further by saying that first reason was lack of diversification, second was better diversification and third was reduced active risk for same excess return.