CFA June 2012 thread - Page 3 - Business, Finances and Investing Forum

I think the question is stupid because you can defend almost any answer depending on the swap. Like if it is a deliverable swap, both parties would have to deliver so it wouldn't matter if one was in the money. Also, I googled the question and they said the end could be the answer. For example a CCIRS where you are delivering notionals at the end.

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05-28-2012 , 10:36 AM

#53

samsonh

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Join Date: Dec 2005 Posts: 3,535

Quote:

Originally Posted by DOOM@ALL_CAPS

Yea but if you are delivering notionals at the end and your counter party cannot or will not deliver your notional back, do you think you would give them theirs?

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05-28-2012 , 03:08 PM

#54

DOOM@ALL_CAPS

old hand

Join Date: Feb 2010 Posts: 1,326

Quote:

Originally Posted by samsonh

Yea but if you are delivering notionals at the end and your counter party cannot or will not deliver your notional back, do you think you would give them theirs?

Obviously not, but you no longer can obtain the contract rate you agreed to

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05-28-2012 , 04:47 PM

#55

samsonh

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Quote:

Originally Posted by DOOM@ALL_CAPS

Obviously not, but you no longer can obtain the contract rate you agreed to

Yes but this risk is mitigated somewhat by mark to market

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05-29-2012 , 12:01 AM

#56

MXdotCH

adept

Join Date: Jan 2009 Posts: 924

Hi, I have a quick question for you guys: I'm a 2nd year finance major in Canada, and was wondering if it was even possible to pass my level 1 CFA exam during my studies? I thought this may help me in finding a job upon graduation..from what I hear it's not too hard.

My plan would be to start studying for it and try to pass during my last year or a bit after graduation. Any comments?

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05-29-2012 , 08:40 AM

#57

DOOM@ALL_CAPS

old hand

Join Date: Feb 2010 Posts: 1,326

Quote:

Originally Posted by samsonh

Yes but this risk is mitigated somewhat by mark to market

I'm unsure what you mean

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05-29-2012 , 01:48 PM

#58

samsonh

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Join Date: Dec 2005 Posts: 3,535

Quote:

Originally Posted by DOOM@ALL_CAPS

I'm unsure what you mean

not sure why i put mark to market in this post. What I meant was that you are exchanging interest payments throughout the life of the swap, so you will be receiving interest in the currency you lent out.

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05-30-2012 , 12:34 PM

#59

hobokes

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good luck to all sitting for the exam this week!

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05-30-2012 , 03:02 PM

#60

dshen13

adept

Join Date: May 2012 Posts: 894

Dec Level 1 test take here.... pass/fail scoring system seems convoluted. Is it essentially >70% correct answers is a pass?

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05-30-2012 , 05:59 PM

#61

tastychicken2

journeyman

Join Date: May 2012 Posts: 339

Quote:

Originally Posted by dshen13

Dec Level 1 test take here.... pass/fail scoring system seems convoluted. Is it essentially >70% correct answers is a pass?

70%+ pretty much guaranteed to pass (not sure if they will fail u if u get 70%+ and fail ethics)

depending on how people do the bar might get lowered slightly

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05-31-2012 , 07:27 AM

#62

ahnuld

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you can get zero on ethics as long as your combined score is over 70% you will pass

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05-31-2012 , 09:45 AM

#63

CalledDownLight

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Join Date: Jan 2007 Posts: 88,413

Quote:

Originally Posted by ahnuld

you can get zero on ethics as long as your combined score is over 70% you will pass

this is the impression I have from the little they disclose also. It seems like for level 1 you need close to the 70% mark most years to pass whereas level 2 you can get there with mid 60s and level 3 is obviously harder to judge with the free response portion.

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06-01-2012 , 01:32 AM

#64

FN2339

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they've cited the fact that no score above 70%+s ever been a failing score

I've also heard from someone one of the schewser video instructors that the MPS has been as low as 60% for level II scores.. take that with a grain of salt obv but interesting to know

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06-01-2012 , 01:32 AM

#65

FN2339

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GL to everyone btw hope we all crush

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06-01-2012 , 09:24 PM

#66

tastychicken2

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Join Date: May 2012 Posts: 339

Quote:

Originally Posted by FN2339

well.... i guess my chances of passing have probably increased.

gl 2 all!!

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06-01-2012 , 09:31 PM

#67

CalledDownLight

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good luck everyone

tasty, if youre sscoring over 70% on practice tests your basically a lock to pass. The 3 people I know who have passed level II within the last 2 years all have told me that they didnt pass a single practice test until the last week of prep (and one never got above a 67).

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06-01-2012 , 09:36 PM

#68

tastychicken2

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Join Date: May 2012 Posts: 339

Quote:

Originally Posted by CalledDownLight

I hope so. I've never been such a nit in my life (will probably be same next year if I pass L2) since I don't think I'll have the same amount of time again.

I felt pretty scared after the AM section of the last mock exam by Schweser (which was probably the hardest section in all the mock exams I've taken).

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06-01-2012 , 09:44 PM

#69

FN2339

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Join Date: May 2010 Posts: 5,401

yup if you are scoring 2/3 in mocks I'd say you're in very good shape. just need to go in with a good 6hour of sleep and positive mojo

GLHF everyone

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06-01-2012 , 09:46 PM

#70

tastychicken2

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Join Date: May 2012 Posts: 339

6 hours? I'm sleeping now for a 9 hour beauty sleep xD

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06-01-2012 , 09:49 PM

#71

FN2339

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Quote:

Originally Posted by tastychicken2

6 hours? I'm sleeping now for a 9 hour beauty sleep xD

heh i barely got 3 hours last time @ lvl1 so i'm not counting on much

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06-01-2012 , 10:00 PM

#72

CalledDownLight

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Join Date: Jan 2007 Posts: 88,413

Quote:

Originally Posted by tastychicken2

6 hours? I'm sleeping now for a 9 hour beauty sleep xD

me too. first alarm goes off in 9 hr 25 min.

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06-02-2012 , 11:48 AM

#73

Steroid Boy

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reporting live from between sessions

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06-02-2012 , 05:48 PM

#74

tastychicken2

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Join Date: May 2012 Posts: 339

thought morning was difficult (spent almost all my time... something which i almost never do for standardized exams)
afternoon a walk for the most part

i think one question had a typo... rather was missing information.

think i passed. at least this time i won't be stressed for a month.