The paid practice questions and study notes do not really match.

[maisatomai]

I must say the practice questions are good. However, it is too hard and I cannot find the answers even on the study note.

For example, Jorion Chap 6 Q67, there are 4 questions on Mapping options. The study note does not even talk about mapping options. Are we supposed to read the core text for the answer?

 

[David Harper CFA FRM]

Hi Maisatomai,

The practice questions often go into more depth (if we had to match the study notes to the depth of the practice questions, the notes would basically be the core texts!). The study notes are summaries. This year, you may have noticed, I am adding a summary page up-front to the questions, so this tries to give the questions some additional "Self-sufficiency" ... in other cases, the detailed answers are meant to give the color ... but, yes, certainly, in many cases where you want to support the depth/detail, i think referring to the core is a great idea. Thanks,

 

[maisatomai]

Hi David,

I think my concern is the same as this guy. My question is as follow

1) I did my CFA using Schweser notes. I finished three levels without referring to the core text at all. So you mean your study notes do not serve the same purpose as what schweser did for me in CFA? Even if I understand everything in the BT study note, I still will fail badly as I seriously cannot find any answers to many questions found in the practice questions in your study notes?

 

[Suzanne Evans]

Hi David,

I think my concern is the same as this guy. My question is as follow

1) I did my CFA using Schweser notes. I finished three levels without referring to the core text at all. So you mean your study notes do not serve the same purpose as what schweser did for me in CFA? Even if I understand everything in the BT study note, I still will fail badly as I seriously cannot find any answers to many questions found in the practice questions in your study notes?

Hi Maisatomai,

If I understand you correctly, you are asking for practice questions within the study notes? The in-depth practice questions that David writes daily through the work week are not in the study notes. The practice questions are separate documents, that perhaps maybe you are not familiar with their location. We would recommend that you utilize the study planner with contains all of the essential paid contents and the contents that you should focus upon for FRM preparation. The practice questions in the study planner are the practice questions that have already been completed in a set and published into a pdf by readings. Sometimes there are multiple readings within the same pdf document, however this only happens when an author has multiple chapters within the same FRM topic. The practice questions are marked with an orange question mark icon. All of the practice questions (the ones written daily and the compiled pdf's) can also be found in the how-to section whereas the individual practice questions are maintained in the forum here.

I hope that helps with your answer.

Thanks,
Suzanne

 

[maisatomai]

really appreciate your quick reply.

For example, I am looking at the question in http://www.bionicturtle.com/how-to/questions/category/all -> http://www.bionicturtle.com/how-to/question/t7.basel-ii (I assume this should be the practice questions we are talking about)

Take the first question "B1.1 It is TRUE that Basel II changed or improved on the original Basel I (1988 Accord) in regard to EACH of the following EXCEPT for:" as an example. In the study note, there is absolutely no mention of this. In David reply, David mentioned that we need to go back to the core text to get the answer. So I am assuming that we cannot use this study note solely to pass as we still need to read all of the core text. Am I right?

 

[David Harper CFA FRM]

Hi maisatomai,

As an aside, Chris and Hend (this post to which you refer) are making a different point: neither makes any mention of the notes, they are seeking a different/improved/additional way to experience/utilize/structure the practice questions.

We've had many customer pass only using our study notes without the source. But it's not my universal recommendation, it depends on the individual: many individuals should also consult the core readings.

We will NEVER give you full cross-reference to the notes, the reason is simple: we are committed to daily improvement of the depth and volume of the practice questions. Our unique strength in practice questions is incompatible with full cross-referencing. To give you full cross-reference, as you imply, I would have to lock-down the question database and basically pursue stabilization/coordination of the notes and PQ. (note: I could do this in less than one month--i.e., lower the bar on the practice questions so they only perform literal cross references--and go to the beach for the rest of the year).

So, just a couple of key points here:

• The CFA is (far) more predictable than the FRM (ie., "offers less prospective clarity"). For example, minutes ago I answered this question. This happens a lot ("I also tried to check Jorion Chapter 17 page 444 to page 446 but could not find a link to the solution.") and is not an unusual type of question from GARP; i.e., where you can't find an exact, clean cross-reference in the core text! As a learner of finance, I love it: it promotes real understanding.
• Our Study Notes are merely graphical summaries of the AIMs; they will never carry the burden of being a cross-reference to the world's deepest PQ database
• Our practice questions are, in general, training questions that are meant to surround FRM concepts, in sequence. This is frankly a much higher standard than a question bank that restricts itself only to literal cross-references. Aside from a higher standard, it would not be the best strategy for a exam which regularly strays from literal interpretation of its own AIMs.
• Do I admit to a bias in favor of the practice questions, over the note summaries? Yes, I spend more time (3+ hours a day) on fresh practice questions.

I hope that explains, thanks,