CFA Level 1, June 2013

Jobs & Careers
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@mihir.thakkar Thanks. Well that makes sense , So you guys on for June13 , i guess, I chickened out of June 13 will go 4 Dec 13
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@rajiv.ansu I startd preparin in jan, goin on gr8
Many additions in FSA, so tak a note on dat
Bdw, ne app 4pagalguy on android ?
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@mihir.thakkar said:
@rajiv.ansu I startd preparin in jan, goin on gr8Many additions in FSA, so tak a note on datBdw, ne app 4pagalguy on android ?
hey can you please tell me the changes in FSA in 2012 and 2013 curriculum.. as far as i know there are'nt any changes in the los of FSA? I haven't started yet.... :(
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www.elansguides.com/docs/Los-changes-2012-2013.pdf
Hop dis helps



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CFA level 1 question for the day

Reliance Industries bought 10 year Tax free government of India securities at Rs.100/security. One year later when interest rates dropped the price of the security increased to Rs.102. The security paid Rs.8 coupon during the year. what amount should be recognized in income statement If Reliance industries has classified the security as 'held for maturity security (HTM)' and 'available for sale' respectively

HTM Available for sale
a. Rs.8 and Rs.8
b. Rs.10 and Rs.10
c. Rs.0 and Rs.8
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@Nirmal_Analyst said:
CFA level 1 question for the dayReliance Industries bought 10 year Tax free government of India securities at Rs.100/security. One year later when interest rates dropped the price of the security increased to Rs.102. The security paid Rs.8 coupon during the year. what amount should be recognized in income statement If Reliance industries has classified the security as 'held for maturity security (HTM)' and 'available for sale' respectivelyHTM Available for salea. Rs.8 and Rs.8 b. Rs.10 and Rs.10c. Rs.0 and Rs.8
@Nirmal_Analyst The answer should be a) as in both cases interest income/coupon is reported in the income statement.
It is only in the difference of the value of securities itself that matters. While in HTM, the securities are still reported in the Balance Sheet at Rs 100 (the issue price) but in available for sale security it is reported on Balance sheet at Rs 102 and unrealized gain is directly reflected in the Stockholders Equity.
@Nirmal_Analyst said:
CFA level 1 question for the dayReliance Industries bought 10 year Tax free government of India securities at Rs.100/security. One year later when interest rates dropped the price of the security increased to Rs.102. The security paid Rs.8 coupon during the year. what amount should be recognized in income statement If Reliance industries has classified the security as 'held for maturity security (HTM)' and 'available for sale' respectivelyHTM Available for salea. Rs.8 and Rs.8 b. Rs.10 and Rs.10c. Rs.0 and Rs.8
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Hi,

Can any1 please suggest from where I can order the schweser xerox material? Please provide the contact details.
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@Avi_04 said:
Hi,Can any1 please suggest from where I can order the schweser xerox material? Please provide the contact details.
Name: Bharat Ahir
Mobile name: 9833541212
Call him; he will give you his account number and IFS code; you transfer money anf he will courier you the material.
I just did.
Just talked to this Om Stationery guy his rates:Books : 1200/- (including the courier charges)
Videos: 800/-
Summary book: 200/- &
Calculator (DV) : 2200/-
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Thanks for your quick response

@rajiv.ansu
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@Avi_04 u r welcome
however the shop name is Om Stationery propeietors name is Bharat Ahir :)
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@rajiv.ansu Thanks so much Rajiv.!! Can you please also suggest about the calci, as there are two model available in market. Texas Instruments BA II Plus Financial
(10 Digit) Rs 2129 and Texas Instruments BA II Plus Professional Financial
(10 Digit) Rs 3565. Which one i should go for? Please advise.
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@Avi_04 Actually ppl are suggesting TI BA II, but I already purchased Casio FC200V, will see if it won't work then I'll go for TI BA II one
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@rajiv.ansu
Calculator Policy

Only two calculator models are authorized for use during CFA Program exams:
Texas Instruments BA II Plus (including BA II Plus Professional)
Hewlett Packard 12C (including the HP 12C Platinum, 12C Platinum 25th anniversary edition, 12C 30th anniversary edition, and HP 12C Prestige)

http://www.cfainstitute.org/about/governance/policies/Pages/calculator_policy.aspx
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@agrajshah confused which of the two to take? BA II Plus/ Proffessional? Any majore differences btw them?
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anybody has the full set of 2013 Schweser level 1 videos... the videos provided in the link "everythingaboutinvestment" has only few videos....

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CFA Leve1 question for the day
I am 30 years old currently, and plan to retire at the age of 55. Post retirement, I want to receive Rs 25 lakhs per annum for the next 20 years. I am willing to invest Rs 2 lakhs each year for the next 15 years from now. How much will I need to invest each year during the remaining years to meet my goals, assuming investment returns of 10% can be earned on this portfolio throughout this period.
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@rajiv.ansu Hey man, did unget the videos also??? How are they??? Tia...
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@Nirmal_Analyst Kindly post the answer for 18th Feb question. Thanks
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@Nirmal_Analyst said:
CFA Leve1 question for the dayI am 30 years old currently, and plan to retire at the age of 55. Post retirement, I want to receive Rs 25 lakhs per annum for the next 20 years. I am willing to invest Rs 2 lakhs each year for the next 15 years from now. How much will I need to invest each year during the remaining years to meet my goals, assuming investment returns of 10% can be earned on this portfolio throughout this period.
3.01 lakhs.

How i approached.

To receive 25 lakhs per annum for the next 20 years. It can be thought of as to what is that amount at the age of 55 (retiremnet) which will give me 25 lacs for the next 20 years. So first calculate the present value at 10% return of this amount.

So PV(10%,20,25) = 212.84 lakhs.

Now we know for the next 15 years starting today the investment is of 2 lakhs. Its future value is FV(10%,15,2) = 63.54 lakhs at the end of year 15 (or when the person is 45 years old)

Now this value when taken 10 years hence i.e. at the retirement age = FV(10%,10,0,63.54) = 164.82

So now at the end of age 55, extra money which is required (which will be there by investing for the remaining 10 years) = 212.84 - 164.82 = 48.02 lakhs

so again now we need to calculate that value which at 10% and after 10 years amount to 48.02 lakhs.

so we can apply pmt formula as pmt(10%,10,0,48.02) = 3.01 lakhs which means we need to invest 3.01 lakhs for the rest of remaining 10 years to get the desired 25 lakhs for 20 years after the retirement

Let me know if this is correct.

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hey anyone from kanpur for june 2013 L1 exam??