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Test Prep and Test Day practical tips
I took the lvl 1 test in dec, and will be taking it again here in about a week. There are a few things that I have done differently this time around and I thought I would share them here.
I think the advice in the blog from a few posts back was pretty good, in which it was said that you need to focus on the main subjects of the test based on their % weighting of your final score. Wasting time in derivatives can be interesting for knowledge purposes. However, at this point if you are behind you will get the most score improvement for your valuable time going forward by drilling down FRA, Quant and Econ.
Practice ethics problems help more than reading the actual regs and guidance. When you get one wrong write down the specific rule, and start a list. When you get one right on a later attempt and feel comfortable with the issue cross that sucker off.
Memorize the valuation models for petes sake.
Look at the user manual for your calculator. On my calc there is a BOND button, as well as a DEPR button...
Some advice for test day;
Bring your backpack with your notes and lunch. During the lunch break you will have an hour to do whatever you want and having your notes + lunch will allow you to spend some time keeping your short term memory refreshed.