|
- UID
- 222289
- 帖子
- 395
- 主题
- 7
- 注册时间
- 2011-7-2
- 最后登录
- 2016-8-30
|
13#
发表于 2011-7-13 16:24
| 只看该作者
We still have to wait another 2-1/2 weeks for our results, but for what it's worth, here's my take on L3:
* In general, the concepts in L3 are easier to understand and pick-up compared to those in L2.
* What makes L3 tougher than L2 is the sheer volume of material. It's borderline overwhelming.
* As you're going through the material, write out your own cheat sheets of "lists". There are a lot of lists in this level (different categories of hedge funds, reasons for trading fixed income securities, behavioral finance phenomena, traps in economic analysis, different types of investors, different types of algorithmic trading approaches, etc. etc.) and you need to get down the lingo. The Schweser cheat sheet provides some of the key lists, but not all. L3 is a very terminology driven level.
* Start early. I started late October and really used every month. The caveat is that we have 2-yr old, so most of you single guys/gals can probably get a away with a late November, early December start.
* Even if your company won't pay for a premium study package, consider spending extra out of your pocket for the Schweser video workbook. It basically boils down the whole level into one gigantic Powerpoint that highlights the key takeaways. I found it invaluable.
* When taking notes and making your own cheat sheets, don't use a laptop. Do it the old fashion way - pencil and paper. It sounds funny, but training your hands to do more handwriting will be important when you have to hand write for 3 hours on the actual exam. Most of us haven't hand written much of anything since we were in grade school because of the PC, so don't underestimate this "physical" exercise.
*When reading an essay case, don't assume any information that is actually not provided and be careful of inadvertently injecting your own prejudices and bias to the case. This will make your life a lot easier Good example: You have an IPS case regarding a couple in their 40s with $20mil in assets and 2 children. If the case says nothing about them wanting to leave a bequest to their children (and there does not seem to be any other legal situation), you don't have to recommend for the legal constraint that the couple seeks counsel for estate planning. Simply saying "no apparent legal constraints" is a good enough answer.
* Finally...If you do end up passing L3 and you have a family, acknowledge their sacrifice and consider buying your spouse and kids some very nice gifts to show your appreciation. If I'm fortuntate to pass, that's what I'd do. |
|
