Overall pass Alpha Drivers and Beta Drivers: Between 50 and 75% Commodities and Managed Futures: Greater than 75% Credit Derivatives: Greater than 75% Ethics: Greater than 75% Hedge Funds: Between 50 and 75% Private Equity: Between 50 and 75% Real Estate: Greater than 75% I’m surprised I didn’t do so well on alpha and beta drivers but the rest is about as expected with the Schweser materials. How did everyone else do?
Below are the results of your CAIA examination by each part of the curriculum. Alpha Drivers and Beta Drivers: Greater than 75% Commodities and Managed Futures: Greater than 75% Credit Derivatives: Greater than 75% Ethics: Greater than 75% Hedge Funds: Greater than 75% Private Equity: Greater than 75% Real Estate: Greater than 75% Not suprised, I thought the test was too easy, which the 71% pass rate confirms. I’d like to see them beef it up.
Alpha Drivers and Beta Drivers: Between 50 and 75% Commodities and Managed Futures: Greater than 75% Credit Derivatives: Greater than 75% Ethics: Between 50 and 75% Hedge Funds: Greater than 75% Private Equity: Greater than 75% Real Estate: Between 50 and 75% I thought I did better on some topics, but wtv a pass is a pass! Gotta be wayyyy more ready for CFA lvl 3 because this wouldn’t be a pass.
I squeaked by…50 to 75 on every topic except ethics better than 75, I thought I would have done way better on a few on them but I am quite sure I was right around the 70% mark on most. I seem to perform the same on all exams! On to Level II!
You are all way smarter than me, seriously, The.Unit.Root Jesus Christ almight! But a pass nonetheless. Thank you curve. I wish they told me greater than 70 rather than between 50 & 75. It makes it difficult to know just how piss poor my actual score was. Alpha Drivers and Beta Drivers: Between 50 and 75% Commodities and Managed Futures: Greater than 75% Credit Derivatives: Below 50% Ethics: Greater than 75% Hedge Funds: Between 50 and 75% Private Equity: Between 50 and 75% Real Estate: Between 50 and 75% If you failed the test please post your results so that we can see what a fail looked like. By the way, for the sake of comparison, I did about 80 hours of studying. Read schweser books about three times taking notes. Didn’t watch the video lectures. Took the schweser practice exams. CFA level 3 candidate. No real other finance background.
I spent about 50 hours studying. Read the Anson book. Did the Schweser practice exams. I am a CFA working with HNW clients and use 20-40% alternatives in our portfolios, so there was nothing that was incredibly new to me. Obviously if you’re working in Alts everyday, the test is easier and without the CFA curriculum it would have been way harder. That said, I wish they would test concepts more than “what has more skew?” or some of the other mundane details that really don’t tell you about why and how to invest in alts.
I couldn’t agree more Unit Root. I actually didn’t go out my way to memorize things like skew distributions of the various types of investments, focusing more on superlative skews or things that stuck out thinking they wouldn’t test small details from these studies that also admit huge amounts of bias and that might not be relevant anymore. I was very surprised on test day to see questions that did exactly that. From 1994 to 2004 which hedge fund category had biggest or the smallest skew? Which had the most kurtosis? I found that to be really sad. Which commodity index has pork bellies in it? (I made all these up, but you get the idea)
P.S. I work in real estate investment and I am very embarrassed that I did not score above 75% in that category. Shame on me!
Alpha Drivers and Beta Drivers: Greater than 75% Commodities and Managed Futures: Greater than 75% Credit Derivatives: Greater than 75% Ethics: Greater than 75% Hedge Funds: Between 50 and 75% Private Equity: Greater than 75% Real Estate: Greater than 75% Compared to my CFA L3 FAIL this was a breeze I guess. But still I am happy that I passed and whatever grid we have as long as we can move to L2 it’s all good!