Happy to help.
Marc
If you had to possibly sacrifice “under studying” a section…from a risk reward viewpoint, what section and why? And no, this is definitely not a strategy, but we all know stuff happens…
Oh boy thats a tough question. Why? I had a candidate say they were not going to tackle a topic or or two for the December exam. Then low and behold those two topics were crushing on the exam. They will likely be back based on their performance on those two topics they didn’t give enough attention prior to the exam. Alternatively focus on the problems I always point out and work them diligently across all the material.
Level III is a highly competitive exam as everyone is smart and hard working, every point matters, every minute matters and every opportunity to work harder toward the exam matters. LevelUp everyday!
Marc, it seems like everyone has their own “logical” study order with regard to the sections. Personally I think it doesn’t matter one bit since everything is fair game and at this point you’ve been exposed to everything before, so the whole “intuitive” order is semi pointless (i.e. individual asset classes before easing into PM,etc. ). Some say hard section then easy section, but that is too subjective. What say you?
What do you make of the “much higher than normal” pass rates for the Dec 20 exams? Assuming L3 follows the same pattern, do you think CFAI may give us a tougher than usual exam to balance things?
I think study session order does play a key role. The most heavily weighted exam topics include: private wealth and institutional investor. Prior to 2019 those two topics were early in the curriculum - study sessions 4 and 5. In 2020 they moved those topics to the end. The risk is you run out of time or short of time or don’t have time to review completely before the exam so I recommend moving them earlier to have the time to read, comprehend and master before the exam. Start with the bigger topics to have time to prepare before the exam and don’t run out of time.
The candidates had more time to prepare and used that time wisely. No they will not make the exam tougher. Thats exam was “in the lock box” months before the December exam was given. Make no mistake the exam will be hard enough regardless of prior pass rates. It seems to get harder at every exam given. More details, more in depth topics, nothing can be skipped, exhibits matter, everything is game. Its a hard exam period.
This is where I get on my soap box. So many candidates underestimate the Level III exam. No CFA charter holder in the past 10 years will say the Level III was an easy exam. In fact only those that passed the Level III exam will say the Level III was the hardest of the three exams. Yet candidates underestimate the work and details they will test. Please use a review provider who can get you across the finish line and prepares you for the hardest exam you’ll face. #LevelUp
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Specific question on your jumpstart videos. What’s the most effective way to study with them. Watch the videos first and then go back and do the problems or vice versa?
Awesome question…candidates after they passed said this method worked best (1) watch a segment of a JS video first, (2) pause the video then read that CFA reading section (3) add notes to the Core slide book (4) work the associated problems indicated on the slide for that topic or refer to the Focus Material problem matrix (5) keep moving forward through the reading. The key is I lay out and help you focus on all the topics and I don’t skip hard stuff. You learn by listening, the reading goes faster and you won’t pass by important information, you learn by reading and most importantly you work problems immediately afterward - that is the key to success.
Thanks Marc very useful to know. Otherwise it’s just too tempting to keep passively watching the videos without pausing and practising!
Its totally an active exercise…watch (listen), read, write, work problems…these touch all the various parts of the brain and help you learn the material deeper and with far better recall. Ultimately if you can repeat what you just learned verbally then you mastered the topic. Hear, speak, write and problem solve is the key to mastery.
Thank you every one, I appreciate all the questions, thank you for participating. Make it One & Done® in 2021 and LevelUp every single day to the exam.