Sunday, May 24, 2009

Not many trick questions

After doing so many sample questions, i found that there aren't many trick questions. Many CFA questions are straight forward - either you know or do not know. Most of the questions are derived from the text and so it is not that you need a lot of extra help. For example, one question in the cfai level 1 mock exam i took is the question on how the short term and long term Philips Curve will change when the natural unemployment change. The answer is quite straight forward - both curves shifts! Those who did not study it will not know the answer.

However, I do realised that the FSA's Income Tax is one of the Readings that are the worst written. Some external help is required to understand Income Tax for FSA. The mock exam tested on deferred taxes. If you do not have external help, you can never answer it.

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