Tips & Trick For Passing The CFA Level 3 Test

If you are preparing for the Level 3 portion of the CFA exam, take a moment to congratulate yourself for passing the first two levels. Now, it’s time to get out your CFA study materials one last time to get through Level 3. While Level 3 is uniquely challenging because of its heavy emphasis on writing, it is definitely doable. Here are some tips and tricks to help you prepare for Level 3 of the CFA exam:

Know Your Focus: The Level 3 of the exam focuses on Portfolio Management and omits certain sections found in parts 1 and 2 such as Corporate Finance. Before you create your study plan, make sure you look at which sections will appear on the exam, as well as their percentage weight. You can then use your CFA self-study materials to focus on the areas that are most crucial.

Practice Writing: There is much more writing in Level 3 of CFA vs the CPA exam. Where the CPA has some questions that require a short answer, Level 3 of the CFA has an entire morning session that has constructed answer questions. You should still be practicing your handwriting as this portion is handwritten, and not typed. You can optimize your practice by going through the questions in your CFA self-study materials several times- just give yourself enough time in between to forget some of your previous answers. Keep in mind, that while you don’t need to write a full essay, you do need to write enough to convince the graders that you know what you are doing.

Embrace Variety:The morning session of the CFA does not offer a predictable number of questions, and you should be prepared to devote a variety of time to questions. Some of your questions will take five minutes, white others will take twenty. Your CFA self- study materials should have a variety of questions, just like your exam, and you should practice answering each type. When looking at the answers, try to outline key words or statements that will make your answer valid with minimal writing- as this will save you time.

According to, the level 3exam is challenging, it is manageable with practice and perseverance. If you struggle, you can take a break, or change something about your schedule. The important thing is to put the work in and not to give up hope.

Fitting Supply Chain management into a Company’s Bigger Picture

The retail giant, Walmart, is a paragon not only of supply chain management, but also of successful integration of supply chain management into a company’s overall operations. For example, the details of Walmart’s supply chain are staggering. The company operates 160 distribution centers. Every one of its stores is within 130 miles of one of those distribution centers. The company has also adopted cross-docking at those centers, a process in which inventory is offloaded from incoming shipments and immediately sent out to its stores, thus reducing or eliminating inventory holding costs. Walmart’s supply chain grew and evolved over nearly four decades with technology that tracks purchasing, operations, and distribution while feeding all of that tracking information into the bigger picture of cash flow and profits.

Analyzing the companies that have successfully married their supply chain management into their overall structure reveals at least three common features that have led to the success of that combination:

1. Technology that delivers a real-time dashboard to measure and track the supply chain.

ERP supply chain software is a common tool for creating this dashboard. Real- time data tracking that generates reports which are delivered across all internal and mobile platforms gives employees at all levels of a company the critical information they need to handle discrete tasks within their own departments. ERP supply chain software collects and records data automatically to eliminate entry errors and duplicate work.

2. Integration of vendors into the system.

Walmart relies on its vendors and suppliers to manage inventory in its warehouses. This would not be possible unless those vendors had access to the same information about inventory levels that is available to Walmart’s own internal operations. That information includes point-of-sale data and real-time warehouse inventory and sales levels that vendors use to make decisions on when to ship more products into Walmart’s distribution centers.

3. Thorough training of internal personnel.

The starting point of supply chain management is empowering purchasing managers with the information they need to understand how and when products will sell, and then to find vendors and negotiate the best deals for those products. Operations managers then develop the logistical plans to get those products from vendors and onto store shelves. Accounting and finance personnel use purchasing and operations information to manage payables and receivables and to generate reports that big picture management needs to understand and manage the company’s overall structure. Employees at all levels in the system need to appreciate the power of the data generated by ERP supply chain software to complete the fit of that software into the total organization.

When the pieces of a supply chain fit together as intended, managers at all levels of a company’s operations have better insights to do their jobs, which can increase the company’s profitability and position it for growth and expansion. This, in itself, should be sufficient incentive for every company to install an ERP system that integrates supply chain operations into the company’s global efforts.

A company that is looking for the best fit ERP system, whether for management of its supply chain, for integration of a supply chain into its bigger picture, or anything in between, should take care to select a system that is appropriate for the company’s size and that it will coordinate with any existing applications that the company intends to retain. No software system, whether it is an ERP supply chain product or otherwise, will turn a company into the next Walmart, but adopting the right system will position a company to develop supply chain management that rivals both Walmart and every other company that has married its supply chain operations into its big-picture strategy.

Financial Perks You’re Entitled To With A Disability

There are lots of ways in which a disability can put you at a disadvantage in society, but it doesn’t have to always be this way. New laws and options are constantly being introduced to financially aid disabled people. You may have recently found yourself with a disability or may have suffered from one your whole life but never thought to look into the monetary perks. Either way, here are some discounts and payments that you may be eligible for.

Disability benefits

Depending on the extent of your disability, you may be eligible for DLA (Disability Living Allowance). This applies largely to walking difficulties or trouble looking after oneself without assistance. You can check out some of the requirements here.

If you believe you’re entitled to it then you should make a claim. On some occasions you may need legal help (you can read more about this at Brown and Crouppen).

Council tax reduction

In some occasions, a disability may leave you eligible to a reduction in council tax – known as the Disabled Band Reduction Scheme. This applies mainly to disabled persons who have to extend or change their property in order to cater for a disability. An example of this might be moving into a flat with a bigger bathroom for wheelchair access, or having to extend a bathroom in order to make it wheelchair friendly.

No VAT on disability equipment

The cost of adapting a home to a disability, as well as equipment such as wheelchairs and stairlifts, can be pricey. However, most of these items are actually free of VAT. This also applied to motor vehicle changes and in some cases the importation of disability of equipment. You can read more about the specifics here.

Blue badge & car tax

A blue badge gives you a number of parking benefits. Not only can you park in disabled bays, you may also not have to pay in certain pay-and-display car parks, as well as double and single yellow lines.

Being a disabled driver can also allow you exemption from car tax. You must either be on a Motability Scheme or be receiving benefits in order to be entitled to this.

Discounts on leisure activity

A number of leisure activities will provide discount prices to disabled people. If you like your movies, the Cinema Exhibitors Association gives you one free ticket for anyone accompanying you to the cinema. Many theatres will also provide free tickets to carers as well as reserved seats for wheelchair use. Companions may also go free in National Trust and English Heritage properties, as well as football matches. When pursuing a leisure activity, you should always look into these advantages. Almost anywhere that allows you to book seats is required to have disabled seating and quite often this will come with other perks. Local councils may also provide certain benefits such as reduced costs at libraries when taking out books or using computers.