Series 162 Cheat Sheet — High-Yield Concepts & Decision Traps

Series 162 is “research report basis review.” Most questions ask whether the report’s data, calculations, and conclusions are accurate, consistent, and adequately supported.

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Series 162 at a glance

• Items (reference): 50
• Time (reference): 120 minutes
• Pace target: ~2:24 per question

Exam map

• Accuracy, consistency, sources of data, and calculations — 32%
• Reasonable basis for analyst conclusions — 68%

Best-answer checklist

1. Is the weak point factual, numerical, or analytical?
2. Are the sources and calculations internally consistent?
3. Does the conclusion actually follow from the support in the report?
4. What should the supervisory analyst challenge, revise, or reject?

Common traps

• reading it like a broad equity-analysis exam instead of a supervisory-review exam
• accepting a plausible conclusion without checking the support
• focusing on formulas while missing source-quality or internal-consistency issues
• forgetting the official CFA Level I exemption note when route planning