Howdy, Stranger!

It looks like you're new here. If you want to get involved, click one of these buttons!

CFA Events Calendar

View full calendar

CFA Events Calendar

View full calendar

This Month's Leaders

Recommended Discussions

See how our partners can help you ace your CFA exams.

Pass CFA Level 1 while only knowing 53% of the material - thoughts?

Source video from Mark Meldrum: https://www.youtube.com/watch?v=iEJm1h53jMo

My summary for those that can't view:

Caveat: He spends a lot of time stressing that this isn't a 'first-choice' strategy, he calls it a Plan B, use-in-case-of-emergencies.

Strategy:
  1. There are 240 questions in CFA L1
  2. You know 53% of the material, so you answer 53% correctly or 125 questions out of 240
  3. That leaves 115 questions
  4. He assumes you will be able to eliminate one question option on 30 remaining questions (so you have a 50% chance of getting the answer right)
  5. You answer randomly on the remaining 85 questions (33% success rate)
  6. That gives you 125 + 30*50% + 85*33% = 168 questions out of 240 = 70%

Assumptions:
  • MPS is 70%
  • You will get 100% of the material you studied for, i.e. no careless mistakes, no missed bits

I'm not sure if this actually informs my study strategy at all, or it is a tool to reassure/build confidence if you are not progressing as well as you hoped, or it is actually not very useful. Thoughts?

Comments

Sign In or Register to comment.