Study advice
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Hi i read thru all the STC book and i got 3 weeks left before my exam,
how do i approach the final exams now? i also have the dearborn
question cd and old stc 2001 final exams, how many exams do i need to
take daily and any question study tricks u learned that helps ? Any
advice would be appreciated
Take the tests until you want to throwup and then take some more questions. The more you take the better you will be prepared. If you can get a hold of some PassPerfect tests it will help you out immensley. I know because i took my exam 2 months ago and passed. Good luck.
I passed first try two months ago and after reading the book, I focused on my weak areas. For example, Dearborn has a disk where you can build exams. If I found myself getting 60's in Muni, I would build a 100 question muni exam until I got over a 75%. (My goal was to get 75% in most areas. You only need a 70% to pass, however I aimed at 75% to compensate for nervousness and/or vast differences in difficulties from the real exam.)
And I also created a options cheatsheet. They give you a blank sheet of paper and a pencil. I memorized a lot of option matrices and the second I sat down, I wrote them down and referred to them throughout the exam. I was saving my brainpower for the rest of the exam. One matrix I memorized was the buy/sell calls and buy/sell put relationship's breakeven points, max gain, max loss, etc. Options can range from 10-40% of the exam. Once an option question was asked, I referenced my cheat sheet, answered, and moved on to more challenging questions. Hey at least I got a shot at getting 40% of the questions right without even thinking!
[quote=callup-putdown]
I passed first try two months ago and after
reading the book, I focused on my weak areas. For example,
Dearborn has a disk where you can build exams. If I found myself
getting 60’s in Muni, I would build a 100 question muni exam until I
got over a 75%. (My goal was to get 75% in most areas. You
only need a 70% to pass, however I aimed at 75% to compensate for
nervousness and/or vast differences in difficulties from the real
exam.)
And I also created a options cheatsheet. They give you a blank sheet of paper and a pencil. I memorized a lot of option matrices and the second I sat down, I wrote them down and referred to them throughout the exam. I was saving my brainpower for the rest of the exam. One matrix I memorized was the buy/sell calls and buy/sell put relationship's breakeven points, max gain, max loss, etc. Options can range from 10-40% of the exam. Once an option question was asked, I referenced my cheat sheet, answered, and moved on to more challenging questions. Hey at least I got a shot at getting 40% of the questions right without even thinking!
[/quote]Options are 40 questions, not forty percent of the questions. Additionally, those grids that you memorize are wrong exactly half the time and the times that they're wrong are what the test questions deal with.
One of the other things that makes me smile is how the kids on this forum say things like, "It's not hard, I got a 76 on my first attempt."
If it were not hard why did you not get 100%?
I'm sensing some tension here, but that's fine. Put Trader- did you get a 100% or anything near that? If not, you are answering your own question.
I think you misunderstood me. My goal was to get a 75% on my practice exams. Actually, I got a 80% on the real exam.
Muni's and Options combine comprise a total 55% percent of the total exam. Every exam does not have the same number of options questions.
Put this stmt is so true:
One of the other things that makes me smile is how the kids on this forum say things like, "It's not hard, I got a 76 on my first attempt."
[quote=callup-putdown]
I’m sensing some tension here, but that’s
fine. Put Trader- did you get a 100% or anything near that?
If not, you are answering your own question.
I think you misunderstood me. My goal was to get a 75% on my practice exams. Actually, I got a 80% on the real exam.
Muni's and Options combine comprise a total 55% percent of the total exam. Every exam does not have the same number of options questions.
[/quote]Wrong again. Every exam is 16% options (40 out of 250) and 20% municipals (50 out of 250). Combined the two topics account for 90 questions or 36% of the exam.
If the exam was so easy to you why did you only get 80%? In some firms you must get at least 85% in order to ever be considered eligible for promotions. You may have blown your career before you ever got started.
"If the exam was so easy to you why did you only get 80%? In some firms you must get at least 85% in order to ever be considered eligible for promotions. "
Name the firm that gives a ratfart what you made on the Series 7 so long as the ticket said "passed" on it. This should be rich....
[quote=stanwbrown]
"If the exam was so easy to you why did you only get 80%? In some firms you must get at least 85% in order to ever be considered eligible for promotions. "
Name the firm that gives a ratfart what you made on the Series 7 so long as the ticket said "passed" on it. This should be rich....
[/quote]
I agree, I don't think most firms care.
I scored an 82% on mine, my BOM told me I studied too hard.
[quote=Put Trader]
[quote=callup-putdown]
I’m sensing some tension here, but that’s
fine. Put Trader- did you get a 100% or anything near that?
If not, you are answering your own question.
I think you misunderstood me. My goal was to get a 75% on my
practice exams. Actually, I got a 80% on the real
exam.
Muni’s and Options combine comprise a total 55% percent of the
total exam. Every exam does not have the same number of
options questions.
Wrong again. Every exam is 16% options (40 out of 250) and 20%
municipals (50 out of 250). Combined the two topics account for
90 questions or 36% of the exam.
If the exam was so easy to you why did you only get 80%? In some
firms you must get at least 85% in order to ever be considered eligible
for promotions. You may have blown your career before you ever
got started.
[/quote]
Put,
So, the kid did what was asked of him and passed the test with a respectable score and you still try to cut him down?
[quote=es four][quote=stanwbrown]
"If the exam was so easy to you why did you only get 80%? In some firms you must get at least 85% in order to ever be considered eligible for promotions. "
Name the firm that gives a ratfart what you made on the Series 7 so long as the ticket said "passed" on it. This should be rich....
[/quote]
I agree, I don't think most firms care.
I scored an 82% on mine, my BOM told me I studied too hard.
[/quote]If you're a dead-ender with no goal beyond producing in a branch a 70 will get the job. However at the firm where any of you work there is probably a policy that you will not be considered for promotion unless you scored at least an 80. Goldman wants an 85, I think Lehman or Credit Lyonaise will not promote anybody who did not score at least 90.
My point in this discussion is to counter the nonsense being thrown out that the exams are pieces of cake. That can be interpreted as, "Just go take it....no need to study" which is just more drivel and nonsense being spouted by those of you whose experience stretches all the way from your parking lot, through your branch office, out the door and down the hall to the bathroom.
When you can tell me about meetings you've gone to where the topic was "How do we meet mandated diversity goals if we have a policy of one shot at Series 7" chime in with your point of view--short of that you don't know Jackschidt about what you're flapping your gums about.
Put, no one on this board has said the exam's a piece of cake. If anything the focus has been on how much prep is necessary.
And, despite what you claim, no firm has a grading policy on the 7 to determine promotions. Promotions come from demonstrated ability in your job (among other things), not from some test you took 5 or 10 years ago.
[quote=Duke#1]
Put, no one on this board has said the exam’s a
piece of cake. If anything the focus has been on how much prep is
necessary.
And, despite what you claim, no firm has a grading policy on the 7 to determine promotions. Promotions come from demonstrated ability in your job (among other things), not from some test you took 5 or 10 years ago.
[/quote]Oh I forgot, you're the one who spent years on the home office staff involved in all sorts of issues, including establishing standards.
[quote=Put Trader]
[quote=Duke#1]
Put, no one on this board has said the exam’s a
piece of cake. If anything the focus has been on how much prep is
necessary.
And, despite what you claim, no firm has a grading policy on the 7 to determine promotions. Promotions come from demonstrated ability in your job (among other things), not from some test you took 5 or 10 years ago.
[/quote]Oh I forgot, you're the one who spent years on the home office staff involved in all sorts of issues, including establishing standards.
[/quote]
Put-
IT's the many years you spent spreading your wisdom regarding 'standards' that many firm's have 'issues'......
[quote=stanwbrown]
"If the exam was so easy to you why did you only get 80%? In some firms you must get at least 85% in order to ever be considered eligible for promotions. "
Name the firm that gives a ratfart what you made on the Series 7 so long as the ticket said "passed" on it. This should be rich....
[/quote]
Still waiting for your answer, Put. Name those firms.
[quote=callup-putdown]I’m sensing some tension here, but that’s
fine. Put Trader- did you get a 100% or anything near that?
If not, you are answering your own question.
[/quote]
I got close to 100%--well into the 90s. Had only one shot--and didn't study nearly as much as I wanted to.
It helped that I was a Finance major in college. Computing
black-scholes values and creating portfolio hedges with paper, pen, and
calculator makes basic options seem like nothing.
Study for the CFA. That too will make the S7 look like child's play.
By the way, on the practice exams I was only getting in the
80s. The practice exams were more difficult than the real
thing. So, if you can score 80 on the practice exam, you'll pass
the S7.
[quote=callup-putdown]
I think you misunderstood me. My goal was to get a 75% on my
practice exams. Actually, I got a 80% on the real
exam.
[/quote]
You got what would be a B- and are bragging?
When I finished my S7 and went to the lady to get my score, she
exclaimed "wow". I also got congratulated by management on my
score and taken out to dinner.
[quote=callup-putdown]
Muni's and Options combine comprise a total 55% percent of the
total exam. Every exam does not have the same number of
options questions.
When I took the S7, I saw a number of questions twice. They were worded slightly differently, the numbers were different, but it was the same damn question.
I knew a woman who failed the S7 twice. She was in a support position. But damn, failing it twice?
[quote=stanwbrown][quote=stanwbrown]
"If the exam was so easy to you why did you only get 80%? In some firms you must get at least 85% in order to ever be considered eligible for promotions. "
Name the firm that gives a ratfart what you made on the Series 7 so long as the ticket said "passed" on it. This should be rich....
[/quote]
Still waiting for your answer, Put. Name those firms.
[/quote]The S7 score may not be terribly important, but management DOES take notice if you score high. I can't imagine that it will give you any special promotions though.