Quote:
Originally Posted by Yowserrrs
Since I think the arrogant ass of the day award is still up for grabs:
I think I could pass the entire CFA without studying, having never reviewed the direct prep materials, but of course having studed markets / valuation extensively for years.
Am I totally off on this? Anyone have a few really hard CFA questions they think could stump me? I promise not to cheat if I dont know.
Possible (assuming you study the ethics portion) but then again it's likely that there are simply large parts of the curriculum that you've never studied. A lot of random fixed income stuff, portfolio management, international accounting (cross-currency and all those headaches), and etc. Here's a sample question (I made this one up, but it's probably shown up in a real exam at some point almost exactly).
Given three securities: 1) a 30-year treasury bond with 5% coupon, 2) a 30-year mortgage bond with a 5% coupon and 3) a zero coupon bond maturing in 30 years, which ones have the highest duration and lowest convexity respectively?
A) 3, 2
B) 1, 2
C) 2, 3
D) 2, 1
There are no really hard CFA questions, much the same way there are no really hard SAT questions.