Feeling overwhelmed? together, welcome, currently, everything

manchester88

I keep looking back over old sections and start to panic when I realize how little I retained from past sections. I put together formula sheets but I haven't really even started trying to memorize them yet. I have been pretty focused on just completing the reading and then worrying about the memorization needed.

Thoughts and suggestions welcome. As it currently stands, I will end up with about 3 weeks to review everything. Not a lot of time but I don't have much of a choice. Quant really slowed me down (an area that I still have to review heavily) and put me far behind but I'm on the final book (Derivatives) now.

FVPV

Not yet. My greatest concern is if my studying strategy will payoff on June 4th. I'm very confident, but you never know until you write it.

rgonzalez

As with any test, the key to retaining the material is practice. There are only a handful of concepts on this test that you need to memorize. I know it's obvious, but its true - it will come a lot easier if you understand what you are doing rather than memorizing a formula. This helps with speed on test day too.

The only way you can get this is to keep doing questions, in my opinion. I took Level I in December - using Stalla. Went through the lectures and the readings once, then kept hammering away at questions. When I hit topics that I couldn't grasp, I'd revisit the readings then try the questions again. It came a lot easier after that.

An example - Forward Rate Agreements. Don't memorize the formula, it won't help you. Understand the timing of each cash flow, and understand how to present value the results you get. The only way to understand this is to do a bunch of different questions, then re-read the text, then do more questions.

ogoluwa

spreads Wrote:
-------------------------------------------------------

>
> Since you mention FI specifically I'm going to use
> that as my critique. Am I the only one that
> thinks the 11th hour guide skips over a lot of
> useful material? It has basically 4 lines on
> duration and the practice questions i'm using in
> Stalla are covered with all kinds of duration
> problems. I find the 11th hour guide just reviews
> a lot of core topics, the stuff which if you don't
> even know that (e.g. bond prices fall when
> interest rates rise) you're basically screwed!


I think even the Elan study material skips a lot of important material. Only time will tell if what I think is important is actually important or not.

Bulla564

It's meant to be for last minute revision and I feel it does a great job of bringing everything together. I used the secret sauce last year which was barely over 200 pages. The 11th Hour has like 300+ so its way more detailed and it covers a lot more stuff.

I haven't used Stalla's practice questions but I felt that the QBank had way too many quantitative problems. It basically asks the same type of question multiple times. You barely needed the calculator on the actual exam. If you know your concepts you should be fine.

spreads Wrote:
-------------------------------------------------------
> Cinderella Wrote:
> --------------------------------------------------
> -----
> > Im not sure what materials you're using but the
> > Eleventh Hour Guide has been a HUGE help for me
> > this time. I failed Band 10 in Dec and my
> problems
> > were that I didnt cover fixed income well at
> all
> > then and faced retention issues too.
> >
> > FYI: Elan's free trial gives you access to free
> > Quant vids and readings (8-11) if you're
> > interested.
>
>
> Since you mention FI specifically I'm going to use
> that as my critique. Am I the only one that
> thinks the 11th hour guide skips over a lot of
> useful material? It has basically 4 lines on
> duration and the practice questions i'm using in
> Stalla are covered with all kinds of duration
> problems. I find the 11th hour guide just reviews
> a lot of core topics, the stuff which if you don't
> even know that (e.g. bond prices fall when
> interest rates rise) you're basically screwed!

Maddin

Cinderella Wrote:
-------------------------------------------------------
> Im not sure what materials you're using but the
> Eleventh Hour Guide has been a HUGE help for me
> this time. I failed Band 10 in Dec and my problems
> were that I didnt cover fixed income well at all
> then and faced retention issues too.
>
> FYI: Elan's free trial gives you access to free
> Quant vids and readings (8-11) if you're
> interested.


Since you mention FI specifically I'm going to use that as my critique. Am I the only one that thinks the 11th hour guide skips over a lot of useful material? It has basically 4 lines on duration and the practice questions i'm using in Stalla are covered with all kinds of duration problems. I find the 11th hour guide just reviews a lot of core topics, the stuff which if you don't even know that (e.g. bond prices fall when interest rates rise) you're basically screwed!

hariRaj

You guys have lots of time. Try to keep at least 3 weeks for reveiew and practice.

cchang

Me too, try to use flashcards ASAP. but, until now I havent tried any sample, mock exam then so worry, time is coming close, 45 days left.

ajpheif16

Absolutely! While reading something, I suddenly remember something else related but in another book and I realize I have forgotten it... It's all kind of a haze... and the worst are the 'characteristics of $&#^%', 'Principles of $@@&$*' .... rote memorization which I am terrible at.

disiz64

i think IFRS/GAAP differences are the worst. they seem neverending!

agree with andrew, flashcards are good. and when you do practice questions/mock exams, write down a list of all the topics you got wrong (or got right, but it was a lucky guess). then force yourself to revise those until you understand them properly. I often get into a trap of wasting time revising the stuff i do know and avoiding the stuff i don't want to have to face.