This question is for people using Schwaser Pro Q-Bank. Can any of you share your thoughts on how much emphasis should be placed on Level-3 Pro question bank ? Unlike Level-2, Level-3 morning exam is constructed response for which question bank is probably not a good way to practice … How are you preparing for the constructed response section ? How much time do you plan to spend on the question bank ? Do you just plan to do the advanced questions or the entire Q-bank ? Thanks for sharing your thoughts.
I’m currently wrapping up my second reading of the curriculum and will probably start doing some preliminary Q-bank work next week. My initial thought is that I will use Q-bank as a very preliminary basis for answering L3 questions. Once I get the hang of some basic L3 questions using Q-bank, I will start putting a heavy focus on CFAI and essay questions.
Thx McLeod for sharing.
Aloha. I passed Level 3 last year. I think the Q bank is good at testing VERY basic concepts, the ones you can commit to memory. But in my opinion, few of the “Hard/Advanced” questions were similar to actual exam questions, and this is after failing Level 3 the year before so I knew what the questions looked like while studying this time around. I was also somewhat disappointed when you look at how many questions are classified as Advanced, Moderate, or Easy. In sum, wouldnt make Qbank a priority and would focus elsewhere. I think in general Schweser is very good at presenting 90% of the material but every time I have taken an exam, there has been questions at each level straight from the CFAI texts. If I had to do it again, I would do all mock and sample exams from CFAI (without a doubt, and I did them this past year), get your hands on all previous yearsʻ exam questions from the CFAI website or other candidates/charterholders, and then do questions out of the CFAI texts marked as previous yearʻs exams.
exLEHhawaiiCFA , Thanks for sharing your insights. In level 2 , we got 3 CFAI sample exams at 30 questions each and 2 mock exams at 60 questions(full 3 hours each paper) each. How many sample and mock exams does CFAI provide at Level 3 any idea ? Thanks again.
Passed LIII last year using Schweser material. I paid heavy attention to the Q-bank, I did at least 20 customized test (multiple choices) from Q-bank. It is a very good tool for drill down the concepts. You are right, the morning essay is harder to take test and grade. In Schweser package, you should have a book 7, test booklet have essay questions. Also, download CFA past LIII exam, you get do those tests too.
Thx WS
http://www.cfasuccess.com/cs/files/ to the credit of that website provider, you can download past exams.
WS, thx for the link with old exams.
Schweser book 7? I brought the notes online and it is just book 0-5.
Sorry, book 7 was term I used to describe the test booklet. As long as you have a test booklet, it doesn’t matter what you call it.
ws, When you mentioned " I did at least 20 customized test (multiple choices) from Q-bank" -can you elaborate on what exactly you did and also how you did it ? I have bought pro and do not know proper navigation yet. Thanks in advance for your help. People like you make this CFA journey bearable.
Sure! If I remember correctly, it in the exam taking section of the program; you can specifiy how many questions you want in your (the exam you make up) exam, which section or sections you want the questions to concentrate on. For example, you can make up an exam to be entirly on Alternative Investment or any other combination. I am sorry I can’t be more specific, I tried to put the Q-bank CD into my computer to see, but you know those wonderful people in Schweser put timelock on all their products. Does this help some?
I have to say, studying for L3 (about 20% through), I have not found Q-Bank nearly as helpful as for L1 and L2. Using only Schweser notes, the Q-Bank will mix in a few terms and ideas that are not explicit in the Schweser notes but that are nonetheless mentioned in the CFAI texts. I plan to use it only as a basic concept checker and a means to absorb the LOS for each topic review.
ws, Do you mean test management section? there you can create an exam for a specific topic/topics ?!!!
^Yes
ws, Another q for you- how would you approach it? I’m thinking like this- first read the LOS and do the LOS quiz, then take a reading quiz , then take a session quiz and then take the custom exam as you’ve mentioned. Would you do it any other way? How did you do it? Also, how did yoy approach GIPS and ethics-read from CFAI or schweser? Thanksanks
derswap07 Wrote: ------------------------------------------------------- > ws, > > Another q for you- how would you approach it? I’m > thinking like this- first read the LOS and do the > LOS quiz, then take a reading quiz , then take a > session quiz and then take the custom exam as > you’ve mentioned. That was the exact order of how I did it. > Also, how did yoy approach GIPS and ethics-read > from CFAI or schweser? 80% Schweser, 20% CFAI, since those material are very dry and very descriptive in nature, Schweser did a good job covering the material…I scan through CFAI just to make sure I didn’t miss anything.
Any feedback on this product ? worth getting ?
I agree with most that Q-bank is good for quizzing concepts but is probably less usefull for L3. I would say if you have study time available, get it, but don’t use it as a replacement for anything else, especially EoC questions from CFAI. jmho.