CFA: The LOS Leader
I'm sure there are people out there study for the CFA this December. Here is something I noticed recently regarding the Learning Outcome Statements and Exam Topic Weights.
The exam can be split onto 2 larger "sides" or 4 minor parts that mirror one another topic weight wise.
(topic/ weight%)
Side 1A
Part I:
Quant 12
Econ 10
Corp Fin 8
Side 2A
Part II: (mirror of Part I)
Fixed Inc 12
Equity 10
Deriv; Alt Inv 8 [5+3]
Side 1B
Part III:
FRA 20
Side 2B
Part IV: (mirror of Part III)
Eth; Port Man 20 [15+5]
Part I and Part II are each 30%
Part III and Part IV are each 20%
Thus Side 1 and Side 2 are 50% each.
The relevance in this has to do with allocation of study time for each topic. You wouldn't want to spend so much time on a topic that is way tougher than you, when its weight is less significant or comparable to a topic you understand better.
Here's the other thing. # of Learning outcome statements. While an LOS can have many pieces to it, let's just think of an LOS as a whole, and say that any LOS = an opportunity for a question on the exam. (Also, you could argue that the more LOS there are for a topic, the more in depth or detail knowledge is required, which could imply more studying necessary). Let's look a LOS dispersal.
Side 1 (the side with Quant and FRA) has 341 LOS's,with 232 in Part I and 109 in Part III.
Side 2 has 225 LOS's, with 185 in Part II and 40 in Part IV.
With 40 LOS and 20% of the exam weight, Part IV (Ethics + portfolio management) is huge more lucrative in comparison to its mirror Part III (FRA), with 109 LOS and an equal 20% weight.
On a smaller level, Econ, in Part I, which has a boat load of reading material and 100 LOS, weighs the same as Equity, in Part II, with 60 LOS. They are both 10%.
Just a though as there are 7 weeks or so left, and, from a test taking perspective, you need to focus on time utilization for point maximization. I know that in the end all topics are somehow interconnected, but this is still something to think about.
Good luck December 7th
does anyone know what mock exams are worth purchasing? Ie. Elan Guides / Schweser?
Also is the Boston CFA practice exam worth buying / Does the CFA provide any free mock exams?
To study I used the official books, Kaplan Schweser q-bank and BSAS practice tests. The BSAS tests were extremely helpful.
My background is in engineering and econ, and I passed on my first attempt. BSAS offered the exams to my local CFA group for free, see if they'll do it for yours as well.
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