Schweser IPS Questions credit, sometimes, anything, points

JGovender

Do you think they’re indicative of the real CFA exam questions and answers? Personally, I think their answers are too short and would not warrant full credit in the eyes of CFA graders. I’m all for bullet points and concise answers, but I think they sometimes take it overboard.
Also, anyone take the V2, E3 AM yet? I don’t want to give anything away for those who haven’t taken it, but I COMPLETELY disagree with most of their guideline answers for the Middendorf’s IPS. Anyone else feel the same?
I HATE THIS SUBJECTIVITY IN IPS QUESTIONS!!!

bkballa

There are enough old CFA exams out there that you should only rely on Schweser for multiple choice. Their IPS stuff is always so wrong. For example in 2010 Volume I, Exam 2 AM, Q#1 - they have a family with no debt with a $3,750,000 that needs an after tax return with inflation of 5% and has 25 years until retirement they think that their ability to take risk is low!!
A lot of their stuff is contradictory. The CFA material seems much more straightforward with less room for mistakes since there needs to be a majority right answer. The multiple choice is also not indicative but a very good review of concepts and formulas.
We need to keep in mind that at the end of the day, a vignette or essay is trying to test a concept, not testing individual questions. It is not important that you get some super hard question right, only that you understand the concept. If you truly understand the concepts, it would be wrong for the institute to fail folks because they dont remember formulas or minutia. I don’t believe that is their intention. Schweser and Stalla are review programs and they need to teach you and get you to remember the minutia because that is often how we learn the bigger concepts. Just my opinion but this attitude has served me well in LI and LII.