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himanshumh

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tT
发表于 2011-7-11 19:44 | 只看该作者

How insane is Equity?

getting, between, because, question, something
Just doing some EOC questions for the Equity section and I had a couple questions. I realize the test is now half the number of questions as Level I, is one f the reasons because Equity questions may require you to make long tables projecting cashflows 5 years out, get a terminal value, and then PV that terminal value and the cashflows in between back to today?

Also let's say question 1 asks for the FCFF or something, so you projected the cashflows. Can a second question require getting the aswer from question 1 right? Either directly (plugging in the answer directly) or indirectly (taking the correct answer from question 1 and making an adjustment)?
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smuggycfa

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2#
发表于 2011-7-11 19:44 | 只看该作者
Isnt their formulas to take away all that work?, not sure which you prefer learning the formulas as per CFA book, or using the suggested schweser route and doing each cashflow individually

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tikfed

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3#
发表于 2011-7-11 19:44 | 只看该作者
I'd prefer that over cranking out a two-period binomial option vignette.

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5566

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4#
发表于 2011-7-11 19:44 | 只看该作者
I believe the reason for 1/2 the questions for Level II is just because of the vignette format. More reading/interpretation required for the Level II test. Actually...I love the Equity section!

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Houjichasan

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5#
发表于 2011-7-11 19:44 | 只看该作者
FRA: the FRA in derivative section?

pepp Wrote:
-------------------------------------------------------
> SkipE99 are you still around for L2?
>
> Equity and FRA are going to kill us on exam. If
> you don't get these two sections good, YOU WILL
> FAIL. Believe!

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chaojimali

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6#
发表于 2011-7-11 19:44 | 只看该作者
hw0799 Wrote:
-------------------------------------------------------
> FRA: the FRA in derivative section?
>
> pepp Wrote:
> --------------------------------------------------
> -----
> > SkipE99 are you still around for L2?
> >
> > Equity and FRA are going to kill us on exam. If
> > you don't get these two sections good, YOU WILL
> > FAIL. Believe!

No. FRA = Financial Reporting & Analysis aka Accounting

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firat

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7#
发表于 2011-7-11 19:44 | 只看该作者
going through mass amounts of calculations repeatedly has given me a much greater understanding and comfort level with the material. eventually they dont seem so tedious and can be done quickly. doing binomial trees for options and bonds was also well worth it. I'm on L3 now and still draw upon that experience for CFA word as well as real life applications

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yospaghetti

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8#
发表于 2011-7-11 19:44 | 只看该作者
RI projections keep @#$%& me over and over and I just wanna give up on it

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