Revising for Level III of the CFA@ Program exam? Avoid these 3 mistakes on your practice papers

Don't write too much, don't be too generous when marking, and make sure you master Fixed Income.

With just a month left to the exams, most candidates are likely to be diligently plowing through practice papers to get sufficient experience completing the exam in the limited timeframe.

However, practice doesn't always make perfect - sometimes, if you're making an error, practice only makes permanent!

Avoid these three key mistakes when doing practice papers.

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#1: Writing too much

In their anxiety to explain themselves, most candidates tend to write lengthy answers. Avoid writing too much. Instead, you will score more points if you can write short phrases that include winning buzzwords.

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#2: Lenient self-marking

Since you're marking your own paper, it may be tempting to give yourself more marks. In fact, candidates are particularly lenient when marking their own work.

Learn how to objectively grade your answers so you get a more accurate gauge of your marks in the actual exam.

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#3: Avoiding tough topics

Candidates struggle with tough topics, such as Fixed Income, Derivatives, and IPS, and questions on these topics may become a source of fear.

However, it is important for you to spend time and work on mastering these topics, so that you can go into the exam with more confidence.

About the Author

Darren Degraaf, CFA, CPA, MBA, MAFM, PRM, is the revision expert in AB Maximus's CFA® Program exam prep course. He is currently adjunct professor of the Sauder School of Business in the University of British Columbia and director of Instructional Management for the Stalla Review for the CFA Exams Division of DeVry University. Before an international career in CFA® Program exam prep, he worked in HSBC for almost 20 years.