kickthatcfa

supersadface Wrote:
-------------------------------------------------------
> I seriously raised eyebrows at this post, but I
> suppose they must exist.
>
> I think doing questions certainly helps you
> "apply" the LOSs and retain info, but I would
> strongly advise against *only* using Qbank to
> prepare. However, I'm sure you're right and there
> are some folks who have done just that on these
> boards.
>
> Any of you brave souls want to speak up? If you
> did this, tell us what you thought of the exam.
> Also curious to hear if you did a mock or two how
> you scored, and if this was your Level I strategy.


I only used Qbank. For level one I only used Qbank. I passed L1 with two sections below 70 last December.

To answer your question, I thought the exam was difficult but I finished each section at about the 2 hr point. I took three mock exams at different points in my preparation and scored 70, 78, and 92. Every single time I used Qbank it was in a timed, exam-like environment. I would create a 60 question test, sometimes from all sections (besides ethics) and toward the end a lot were just from FSA or Equity.

I found a lot of value in continuing to do the questions after the first 1000. At that point my Qbank scores were about 70 percent or so, and I would still encounter new material every so often. By the time I finished 2500 questions (this was about as many as I did) I was still only scoring in the 80s. But once I had a section above 70-80 percent pretty solid I wouldn't go back.

My favorite part was that I would print out the 100 or so problems that I thought would be most helpful to master. So I had a collection of difficult problems and this was helpful in final review.

I have taken a lot of tests and my philosophy is that optimal preparation consists of engaging in the activity that is tested. In this case, that activity is answering 60 questions in a timed session. So why waste time doing anything else? I was short on time since I began at the beginning of May and had work/family commitments. That's my approach, come late Aug we'll see if it has merit for me.

In the past this approach has been effective for a variety of other difficult tests, so I'm curious to know how many others share this approach, and their impression of the value of Qbank this time around. I thought it was pretty useful, but it could have been better. For example, in 2500 questions, how come I never came across one that required computation of accrual ratios or determining the difference in NOA, or how come I never came across one with Ibbotson=chen? That's unacceptable to me, but it could be that those questions are in there and I didn't encounter them...

cheers