Thanks for the encouragement bro. I am a retaker and got rocked by the AM section last year. I reviewed the AM portion of the exam and I am pretty sure I know where I went wrong (RTFQ and not enough explanation of calculations). Going to be redoing the morning mocks this week for practice. That and ethics… I don’t even know how they expect people to magic some of those answers. It’s hard to get >4/6.
I did the schweser practice exams 1 to 4, scoring around 70% (perhaps correcting the AM too generously)
Then I saw the comment that the CFAI mocks are much better quality.
So I did the 2014 am and 2013 am you can find on the cfai website. It’s true they are very good quality ( but i thought the schweser were ok). Scoring about 70% as well.
Now I did the practice exam 5 (2 from book 2) from scheser (just am part), and i found it really really bad. I have not corrected yet. I read that the exam 6 (3 from book 2) is the worst. Is it true ? Then I think it’s really not worth it. Are the pm sessions ok in your opinion ?
On the AM mocks found on cfai website: are they actual exams from those year ? where can you find more and which ones would you recommend ?
Do you seriously have to explain the calculations for full marks? I’ve been assuming that if you get the correct answer, you don’t really have to write out the full formula in notation etc. Is that wrong?
It’s right. The payment due on the final date is based on the rate from the prior period, 2.00% (below the floor so you use the floor rate), and you use the day count from the final period.
The uk/ Germany hedge question is right… the statement mentions expectation in one currency and then frames the question in respect to the other currency.