Theoretical Exam Sample

[Laurelino Braendel]

Welcometo the Graduate Music Theory Diagnostic Exam - Practice Examples page. The purpose of this online resource is to help you prepare for the exam. Each section of the exam will be described in detail with citations of the current textbooks that we use (where appropriate). Each section will have sample questions that you can use to test your skill. Answers are just a click away.

All incoming graduate students must take the diagnostic exams appropriate to their degree. Exams are graded in three tiers - Pass (requiring no remediation), Review (essentially a low pass - not requiring remediation but indicating that the subject could use some work), and Deficient (requiring remediation through taking a course or retaking the exam after review). Only one retake is allowed per exam. Deficiencies must be cleared from your transcript before you will be allowed to take your oral exams in order to begin work on your final document (M.M. thesis, Ph.D. dissertation, D.M.A. lecture-recital, D.M.A. document, etc.).

The following sample questions are similar to those on the Medical-Surgical Nursing Examination but do not represent the full range of content or levels of difficulty. The answers to the sample questions are provided after the last question. Please note: Taking these or any sample question(s) is not a requirement to sit for an actual certification examination. Completion of these or any other sample question(s) does not imply eligibility for certification or successful performance on any certification examination.

To respond to the sample questions, first enter your first and last names in the boxes below (this information will not be recorded; it is strictly for purposes of identifying your results). Then click the button corresponding to the best answer for each question. When you are finished, click the "Evaluate" button at the bottom of the page. A new browser window will open, displaying your results, which you may print, if you wish.

CFA exam sample questions might be just what you need if you are trying to get a sense of what the exam is like. In this article, we explain the question formats for each level and provide examples (and answers!) from past exams.\n For the sake of continuity, and to give you an idea of how the questions change at each level, all of them relate to the fixed income exam topic.

The Level I exam consists of multiple-choice questions with three answers to choose from. The questions vary from open-ended statements to evaluating data and information. CFA Institute provides more details about the format on its website. You can also learn more about the CFA Level I\n exam in this article.\n Here are some fixed-income Level I question examples.

CFA exam sample questions might be just what you need if you are trying to get a sense of what the exam is like. In this article, we explain the question formats for each level and provide examples (and answers!) from past exams. For the sake of continuity, and to give you an idea of how the questions change at each level, all of them relate to the fixed income exam topic.

The Level I exam consists of multiple-choice questions with three answers to choose from. The questions vary from open-ended statements to evaluating data and information. CFA Institute provides more details about the format on its website. You can also learn more about the CFA Level I exam in this article. Here are some fixed-income Level I question examples.

Holly Jameson has recently started a new role as a bond analyst at Holt Investment Management, LLC, based in Farland. Her team leader has provided her with up-to-date but incomplete data on the term structure of interest rates, summarized in Exhibit 1.

Holt offers both domestic and international bonds to its clients to enable them to benefit from risk reduction through diversification. Holly has carried out some preliminary research on the Farland bond market and has found that the yield curve has an unexpected shape and does not seem to be driven by interest rate expectations.

Question 2: The comments made by Doug Ross are most likely:

A. Inaccurate in respect to the statement about spot rates, forward rates, and yields-to-maturity.

B. Inaccurate in respect to the statement about riding the yield curve.

C. Inaccurate in both respects.

Holly must first bootstrap spot rates for years 2 and 3 from the given par yields-to-maturity. A bond trading at par must have the same coupon rate as the yield-to-maturity. Using a hypothetical 2-year par bond, the 2-year spot rate can be derived as\n follows:

The segmented markets theory states that the shape of the yield curve is determined by varying levels of supply and demand for bonds of specific maturities, and investors only deal in bonds with their preferred maturities, regardless of yields on bonds of different maturity.

Assuming an upward-sloping yield curve as a starting point, if short-term yields increase, but long-term yields remain constant, then the yield curve will flatten. This is a non-parallel shift in the yield curve, which makes effective duration an inappropriate measure of bond price sensitivity. Key rate duration is the preferred measure for non-parallel shifts in the yield curve.

Holly must first bootstrap spot rates for years 2 and 3 from the given par yields-to-maturity. A bond trading at par must have the same coupon rate as the yield-to-maturity. Using a hypothetical 2-year par bond, the 2-year spot rate can be derived as follows:

The CFA Level III exam introduces a type of essay question called constructed response to test your ability to apply judgment and also contains item set vignettes (you can learn more about the exam format and more here). These constructed response questions are open-ended. You must write your own answer; there are no options to choose from. Here is an example of a constructed response question related to fixed income.

Algonquin Enterprises is a US company that recently raised a substantial quantity of cash from the sale of a redundant factory site and would like to use this cash to retire a set of debt liabilities. Summary statistics for the liabilities, which range in maturity from five to eight years, are given in Exhibit 1-1:

Three different portfolios of investment-grade corporate bonds, ranging in maturity from 3 years to 10 years, have been proposed for the duration matching approach. Each portfolio has a market value of $650 million, which will be adequate for the funding of the liabilities. Exhibit 1-2 shows relevant information for these portfolios:

Now that you have insight into the kinds of questions that are on the three levels of the CFA exam, you might be wondering how you can learn to answer them. Browsing our CFA study materials is a great place to start.

Kaplan Schweser is a CFA Institute Prep Provider. Only CFA Institute Prep Providers are permitted to make use of CFA Institute copyrighted materials, which are the building blocks of the exam. We are also required to update our materials every year and this is validated by CFA Institute.

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CFA Institute does not endorse, promote, review, or warrant the accuracy or quality of the product and services offered by Kaplan Schweser. CFA Institute, CFA and "Chartered Financial Analyst" are trademarksowned by CFA Institute.

Most Recommended: This is one of the findings of a quantitative survey conducted by Kaplan between April 1 and October 31, 2023. For this survey, a sample of 272 CFA Candidates were interviewed online in English. The survey was fielded to subscribers of 300Hours.com.

95% Recommendation Rate: This is one of the findings of a quantitative survey conducted by Kaplan between April 1 and October 31, 2023. For this survey, a sample of 272 CFA Candidates was interviewed online in English. The survey was fielded to subscribers of 300Hours.com.

Leader in CFA Prep: These are the findings of a quantitative survey conducted by Kaplan between June 30 and August 30, 2021. For this survey, a sample of 313 U.S. CFA Level I and Level II candidates was interviewed online. The survey was fielded to subscribers of 300Hours.com and AnalystForum.com.

One-week, written take-home examination in the study of religion administered during reading week of fall quarter (usually from 5 p.m. on the Sunday preceding reading week to 5 p.m. on the Friday of reading week). The exam is posted and submitted on Canvas. Students may freely consult any books or notes while writing their exam. Each student answers one of two questions provided by the committee in each of three areas:

The questions are based on a reading list of 35-40 works confirmed by the committee and posted on the website before the end of the previous spring quarter. The list is intended as a foundation and guide. Students are encouraged to refer to additional pertinent readings in order to prepare fully thought-out essays. The answers to the first and third questions must involve substantive interaction with at least five of the works on the reading list, and none of those ten works can be the focus of the answer to the second question. Each essay is limited to 2000 words, including in-text references or brief footnotes.

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