My recommendation to Rosso is to nail down the calculation part, which is a sure way to earn many points (typically, 25 points or so). I created some handwritten test sheets to memorize all formulas except for Black-Scholes and Altman’s z score.
On the front page of a sheet, for instance, I put: σ = volatility / μ = average return / What is the VaR?
On the back of the page, I put: Answer: μ – 1.645 x σ
My breakdown is:
Asset Allocation and Institutional Investors: Comparable
Commodities: Stronger
Hedge Funds and Managed Futures: Comparable
Other Constructed-Response Questions: Stronger
Private Equity: Comparable
Ethics: Comparable
Real Assets: Higher
Structured Products: Stronger
