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Old 02-23-2019, 03:05 AM
Humphrey Humphrey is offline
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Join Date: Jan 2016
Studying for MFE
College: Senior Year
Posts: 32
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I think people view understanding and memorization differently. In my experience, understating concepts and first principles makes memorization of formulas very easy. LTAM requires both understanding and memorization. There are questions that require you to modify the formula before applying it and this is where understating becomes a huge advantage. Therefore, I think it's important to have both. Memorization will help answer direct questions faster whilst understating will help get by curve ball type of questions that require modification of certain formulas.
Memorization by itself makes it very difficult to answer certain questions whilst understanding first principles on it's own makes it very difficult to finish the exam. Having both makes you completely prepared.

Last edited by Humphrey; 02-23-2019 at 07:04 AM..
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