WHY Are CFA Level 1 Exam Questions Often DIFFERENT From CFA Qbank, EOC & Mock Exam Questions?

Meet Nathan Ronen, CFA, Lead Instructor and Co-Founder of Chalk & Board. In this video, Nathan discusses why CFA Level 1 exam questions do not always resemble the types of questions CFA candidates practice in their CFA question banks (qbank questions), CFA end of chapter questions (EOC questions) and CFA mock exams (mocks). If you are interested to know why CFA exam questions can differ in type and complexity from CFA practice questions, watch this video for Nathan's guidance based on three decades of teaching thousands of CFA candidates to pass their exams.
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[@GeniusAjinkya]

Thanks, Nathan, this was very helpful. Can you please make a video on what types of questions are available(and their other names as well) eg Qbank and EOC and whatnot? Coz I am getting very confused, coz everyone is using different names for same Qs.

[@ChalkBoardCFAPrep]

Question bank (Qbank) questions are the topic-separated multiple choice questions in the CFAI learning ecosystem (or such as may be similarly approximated by different prep providers with varying degrees of success). EOC questions are end of chapter questions that you find after every chapter reading in the CFA curriculum for your level. Mock exam questions are the most important ones to prepare with during your final review weeks. As the name implies, these are questions on actual mock exams. You want high quality mock exams, not Chat GPT written ones that won't help much on exam day. Good luck in your studies.

[@GeniusAjinkya]

@@ChalkBoardCFAPrepThanks again. I have chosen adaptive study plan on the portal. So in every reading, I get 3-10 set of questions, where time taken to solve is displayed and also the level of difficulty is asked. Can you tell me what are those, and also any other names for it?

[@ChalkBoardCFAPrep]

@@GeniusAjinkya Those questions appear to be a subset from the Qbank questions you can find in the CFAI learning Ecosystem. They are taking a representative subset of the larger group of questions you also have available to take and answer.

[@GeniusAjinkya]

@@ChalkBoardCFAPrep Thanks Nathan, this was very helpful

[@kodiakgriz2296]

Curious from your educational backround if you feel M7 MBA coursework more granular in finance than CFA curriculum?

[@ChalkBoardCFAPrep]

As I earned my MBA in 1992 from the University of Chicago (Booth) and earned my CFA designation in 1996, at that time I’d say that the MBA program was more granular in finance topics than the CFA curriculum. That being said, however, when I was interviewing for analyst positions potential employers would test my analytical skills when I only had an MBA in finance, but once I had the CFA designation no potential employer tested my analytical abilities. That was purely my experience. Fast forward over thirty years to 2024 I’d say an MBA can still be more granular than the CFA if your course load is overloaded with finance related courses at the beginning, intermediate and advanced levels. If not, the CFA program does a fine job at getting candidates to the granular level they need if they actually read the curriculum readings.

[@kodiakgriz2296]

@@ChalkBoardCFAPrep Much appreciated!

[@kodiakgriz2296]

Not sure I saw your complete delineation of rolling studies with cohort open book vs broad for CFA then it cut off....great share!

[@ChalkBoardCFAPrep]

@@kodiakgriz2296yes, in MBA programs you're dealing with rolling topics and more discrete topic areas that typically have open book exams and/or projects attached to them, as well as cohort (team) study. While CFA study is independent, wide in scope, lasting several months or longer at each level, culminating in a closed book exam. Top MBA programs will typically try to teach you things in a manner where you will succeed in classes and get good grades, because they are marketing you to future employers. The CFA program is strictly performance based, your path to the CFA charter is determined by how you perform on exam day without extra considerations.

[@kodiakgriz2296]

@@ChalkBoardCFAPrep Perfect dichotomy given UR CBSOB pedigree I appreciate the wisdom!

[@Chotasuperman]

That's just not possible.Exam questions are too damn easy.If someone does CFA qbank/blue box religiously he/she will conquer the exam with flying colours.

[@ChalkBoardCFAPrep]

The exam pass rates show that a lot of candidates have a different experience from your description.

[@Chotasuperman]

@@ChalkBoardCFAPrep that's because they don't do what's required ...because of job constraints or whatever ...

[@ChalkBoardCFAPrep]

@@ChotasupermanYour answer unknowingly demonstrates some of the emotional biases taught at CFA Level 3.

[@xYz25127]

@@Chotasuperman I am preparing for feb25.. cfa candidate resources will be sufficient right along with schweser reading ?