Third time’s the charm? Fingers crossed!
Good morning everyone! I hope you had a fantastic weekend!
Mine was mostly spent studying… I’m finally writing my “Wealth Management Essentials” exam 2 (the last exam for this course) today. This is the third time I’ve been booked to write this case-study-based exam, but only the first (and hopefully only) time I am actually writing.
It’s like I was jinxed during the last two attempts! Both times, I was very sick in the hospital, and I had to postpone the writing. It was kind of weird. But, today feels good – I don’t think I’ll need to be rushed to the hospital this time. Third time’s the charm, right?
This is probably going to be the most difficult of my exams to date – I usually do pretty well with the multiple choice questions, but this one puts all I’ve learned into practice and the questions are based on about four long case studies, with 60 questions posed for them.
And of course, it doesn’t help that since enrolling in this course, I’ve moved to the MFDA platform which doesn’t require me to have the WME within 30 months of my career start. IIROC licensing requires it, but the MFDA does not (and there’s a ton of the content which is based on stock trades I no longer do working at the bank) but it’s good knowledge to have anyhow, in case I ever move back to an IIROC firm.
So, wish me luck… My exam is at 6:30pm today. Let’s hope I don’t have a freak accident before I write tonight!
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So how did the exam go last night? You haven’t updated facebook or your blog yet!
Hey Rich! Long time no talk! The test was… well, odd.
The first part (first 2 of 6 case studies) provided some confidence – Although the calculations took longer than anticipated (damned Sharpe Ratios and CAPM Alpha stuff!) I felt pretty good… and then, the second half of the exam was odd.
There were only 50 questions instead of 60 (I was hoping to spread the knowledge risk out, and the exam was supposed to be 60!!) and at least one of the questions was messed up, which pushed my confidence back down. They asked about yields on bonds that couldn’t possibly be calculated given the information, so I had to close my eyes and point, pretty much. I have no idea why that question was there.
I dunno… I think I passed, but I was far more confident coming out of some of the other exams. This was pretty hard, and changing my mindset to case studies was more challenging than I expected.
I’m sure there will be more of that type of testing with my PFP, and definitely almost all exams for the CFP will be that format, so at least I got some experience with it.
Keeping my fingers crossed now for a good result so I can take a 2 week break and feel good about the next 3 courses I’m doing over 3 months. (Sept, Oct, Nov… and writing the final for PFP designation in Dec)
I forgot to update here for those not on Facebook
Sorry guys! I passed with a good mark, so I’m finished with the WME, forever! Thank goodness 
Next up… the PFP designation. Here we go!
View Tanya (@netchick)´s recent blog entry: Third time’s the charm? Fingers crossed!