guys someone help me on this:I had been pretty well on my lines of preparation till march for june level 1 exams...but post that had my exams and then the summers have been quite demanding,to the extent that I havent been able to devote justifiable time for the entire month of april...an i feel the same wud continue in the month of may as well...Now this is giving me jitters...Now I feel clearing it this june wud be a gamble for me...Confidence has gone down...sat yesterday for some papers and it just wasnt satisfactory...:(Now am in a jinx...Should i defer it to Dec...(though I really dont want to do that:()but guess going by realistic reasoning I should do so.Guys want an avice on this...What are the implications?in case a.)I sit for the exam and cannot clear it in June. case b.)I defer it to Dec Please note that I would certainly go for CFA whether this june or dec...just wanted to knw about the financing implications for going for either of the two cases...Please help as I need to take a decision early... I have posted the same query in Level 1 thread as well but felt maybe u guys cud also give me an opinion on it...
either ways should work for you.although for deferment i think you need to submit a medical proof. last year i was in a similar situation. most of my time was consumed with gd pis and wasnt qiute sure whether i should appear.i decided to appear and cleared with >70 in all except deriv,eq,econ,alt. my advice -go for it.but finally its your choice .cheers atb! and pls wish us l2 candidates luck!:)
book 1- not yet started book 2- FRA- done once, need to revise book 3- Corp Fin- done book 4- Equity- done once- need to revise book 5- alt asset - done Fixed income- yet to start book 6- derivative- 2 chap done port mgmt- 2 chap done
either ways should work for you.although for deferment i think you need to submit a medical proof. last year i was in a similar situation. most of my time was consumed with gd pis and wasnt qiute sure whether i should appear.i decided to appear and cleared with >70 in all except deriv,eq,econ,alt. my advice -go for it.but finally its your choice .cheers atb! and pls wish us l2 candidates luck!:)
hey atb to u guys...btw wat i wanted to knw is whether i sit for the exam and nt clear or i donot sit for the exm at all,both ways will i be charged the same for dec and wats the charge...read @ the cfa site that the returning candidates are not charged for curriculum and registration does it mean i wud be charged some $400 only???or am i wrong:(
hey atb to u guys...btw wat i wanted to knw is whether i sit for the exam and nt clear or i donot sit for the exm at all,both ways will i be charged the same for dec and wats the charge...read @ the cfa site that the returning candidates are not charged for curriculum and registration does it mean i wud be charged some $400 only???or am i wrong:(
i am not sure buddy, you need to research. afaik you dont need to pay anything if you defer to dec. you'll have to pay if you re appear.
ethics remaining, fra - chapter related to pension rem, alternative invest - 2 chapters rem.
have studied only from schweser, haven't touched cfa books
the biggest problem with me is that i need to revise all of them once before i can be confident on them. till then, even i am really nervous. i hope i am able to study well for the next 1 month. God save me.
We all are feeling the same way...next one month will make or break us... ...Let us start posting our doubts and queries...and everyone should attempt to answer them. Will benefit us all.
Anyone please share some info on this.What is the fees payable to reappear for the dec CFA LEVEL 1 exam if I donot clear it in June.From the website what I cud gather was that returning candidate donot need to pay for registration and cost of curriculum.However they will be blocked for reregistration till the results are out.Thats logical,but the cost of reappearing looked ambigous.Cudnt make out much...Please share any info if u possess..
I appreciate it that everyone's sharing their level of preps done till now......it will help us boost each others confidence as well...... will put my status soon.....till then...Happy Studying!!
yeah...m done wid d post employment chapter....do post your query...wil try if i can figure it out....
Example 7, Page 227, under method 1, actual returns are calculated including everything(that is displayed under "change in plan assets" on Page 226) except benefits and contributions.
..now go to page 243, q11, actual return calculation has not considered "Settlements/acquisitions/etc" and "exchange rate adjustments" under "change in plan assets"....why?
also, q20, on page 247, calculates economic expense. To calculate that expense, actual return is required. For this q, actual return includes settlements/curtailments and currency translation adjustments...just like the example 7.
I am sure I am missing a major point here...there are three methods to calculate economic expense, one of them leads to the same answer in all the 3 cases above. However, the rest 2 don't. And the difference lies because actual return has to be calculated to be set off against economic expense, and the actual return is not same in the 3 cases above.
So may be, actual return calculation is the problem, what items to include, and what not to.
Example 7, Page 227, under method 1, actual returns are calculated including everything(that is displayed under "change in plan assets" on Page 226) except benefits and contributions.
..now go to page 243, q11, actual return calculation has not considered "Settlements/acquisitions/etc" and "exchange rate adjustments" under "change in plan assets"....why?
also, q20, on page 247, calculates economic expense. To calculate that expense, actual return is required. For this q, actual return includes settlements/curtailments and currency translation adjustments...just like the example 7.
I am sure I am missing a major point here...there are three methods to calculate economic expense, one of them leads to the same answer in all the 3 cases above. However, the rest 2 don't. And the difference lies because actual return has to be calculated to be set off against economic expense, and the actual return is not same in the 3 cases above.
So may be, actual return calculation is the problem, what items to include, and what not to.
I am having the query...cant understand this point... Can someone plz explain..??
Are you guys studying end of chapter qs or schweser practise exams or both? As per my real-time calculations, I have run out of time, I have to choose between one of them. I am as jittery as Navy Seals on Operation Geronimo eve.................................am sure they got nervous too.
Example 7, Page 227, under method 1, actual returns are calculated including everything(that is displayed under "change in plan assets" on Page 226) except benefits and contributions.
..now go to page 243, q11, actual return calculation has not considered "Settlements/acquisitions/etc" and "exchange rate adjustments" under "change in plan assets"....why?
also, q20, on page 247, calculates economic expense. To calculate that expense, actual return is required. For this q, actual return includes settlements/curtailments and currency translation adjustments...just like the example 7.
I am sure I am missing a major point here...there are three methods to calculate economic expense, one of them leads to the same answer in all the 3 cases above. However, the rest 2 don't. And the difference lies because actual return has to be calculated to be set off against economic expense, and the actual return is not same in the 3 cases above.
So may be, actual return calculation is the problem, what items to include, and what not to.
hey when we calculate economic expense we calculate change in plan assets and not actual returan on plan assets. language is confusing in the book. we calculate change in laibility and chane in assets then the difference gives us the economic expense. on page 226 and 247 we need to calculate economic expense so we calculated change in plan assets and that will inculde everything.
but actual return is the return earned on assets. when we want to find return and not tha total change in assets then we use actual return-expected return= actuarial gain formula.this is used in page 243 ques 11. on page 246 actual return on plan assets is given so there is no actuarial gain or loss. so we used actual return in calculating change in plan assets.
while on page 242 expected return given so for actual return we need to take actaurial in account.
when we calculate total change in assets we use the formula actual return+/- all other changes or expected return+/- actuarial gain/loss +/- all other changes
this ia my understanding. hope it helps you.
im my opinion to calculate economic expense the best method is go by change in funded position+/- employer contribution
no doubts about it ,but i guess this problem specifically lacked two consecutive funded positions whereby the change in fp+-empl cont calculation is not possible.
no doubts about it ,but i guess this problem specifically lacked two consecutive funded positions whereby the change in fp+-empl cont calculation is not possible.
I have this doubt in Reading 59 (FIXED INCOME) - Pg 514 - CASH FLOW DURATION - It is mentioned that the 'valuation model in the case of cash flow duration is based on the naive assumption that there is a single prepayment rate over the life of the MBS for any given interest rate shock.' I do nt understand the reasoning behind this. Acc to me , the valuation model used to get the values in the duration formula is Monte Carlo , in which a prepayment model is used which has different prepayment rates for eaxh month on each interst rate path. Then how does this assumption about a single prepayment rate arise?
Hi im a level 1 candidate. I just wanted your opinions if the real CFA level 1 will have similarities to the mock papers given by the institute? i mean can we expect same level of questions and same topics being tested as given in the mock paper?
It's a crazy feeling just before the exam...time's slipping away....want to respond to memory pills ads on late night tv(even the padosi-ki-buri nazar-se-bacho bracelet emitting rays seems tempting)....the bravado is gone...I start believing in all religions, Gods specifically. No point in asking how's the preparation....we all know!.....Keep going guys...Don't give up....nay...I am just telling that to myself..........
