Subject: CFA May MPS analysis, next steps, FRM deep dive

How can contango apply to chicken yards? ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­  

8 articles • 57d to Aug'26 • 142d to Nov'26 • 245d to Feb'27

  • CFA May 2026 MPS: Hope results day went well for you guys. Check out our latest Minimum Passing Score (MPS) analysis, pass rates data, with a quick guide on how to update your CFA status correctly.

  • CFA next steps planning: See our CFA journey planner tool for a quick overview of your potential CFA journey dates and a summary of key deadlines for each upcoming exam cycle. Use our complimentary CFA study planner to help kickstart your studies too.

  • Considering FRM? FYI registration for the Aug exam closes tomorrow, but November remains open till 31st July for early registration. We highlight top tips for preparing for the FRM exams and compare it to an alternative risk management qualification: the Professional Risk Manager (PRM).


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Zee Tan, 300Hours

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Quick Question: A flock of farmyard chickens is monitoring the commodities market and notices that the futures price of feed-grade corn for delivery in December is significantly higher than the spot price of corn today. Hoping to cash in on the spread, they decide to aggressively hoard today's corn in the back corner of the coop. What is the technical term for this upward-sloping forward curve, and what specific pricing component are the chickens severely underestimating? 

Answers at the end of this email!

What's A Safe CFA Mock Exam Target Score To Aim For?

What's A Safe CFA Mock Exam Target Score To Aim For?

Sophie Macon • CFA • How to Study

When you're practicing your mock exams and grading them, how do you know if you're doing well? It's important to know when you're doing well enough, so that you don't overwork yourself chasing extra points that are already beyond the minimum effective score. Here's a safe target mock exam to keep in mind for all three CFA levels.

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Comic: The 12 Steps To Answering A CFA Practice Question

Comic: The 12 Steps To Answering A CFA Practice Question

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If you’re taking the CFA exams soon, you must be pretty tired of studying by now. Although we mostly write articles here at 300Hours, I thought I’d take a bit of a deviant path and do a visual update today.

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May CFA exam results are out, increase the odds of passing your next exam with a Schweser Study Package. Includes our PassProtection guarantee.

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Detailed explanations help you understand how exam questions are structured so you can avoid common traps and misleading answer choices.

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15 Natural Brain Foods For Studying And Exams

Sophie Macon • Study Motivation

Fueling your brain for intense study sessions isn't just about caffeine. We dive into the best brain-boosting foods that'll sharpen your focus and memory, turning you into a study machine (a well-nourished one, at that).

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Zee Tan • Study Motivation

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Fixed Income Instrument Features for the 2026 CFA L1 Exam

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Let Me Explain • Prep Providers

One of the most popular videos on Let Me Explain, covering Lesson 2, Learning Module 1 of CFA L1 Fixed Income 2026: describe the features of a fixed-income security. This includes the fundamental parameters of all debt securities: issuer type, maturity, principal or par/face value, seniority, and, contingency provisions.

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Credit analyst training with the CBCA certification

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Zee Tan • Career Advice

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What To Do When You Lose Your Job: A Helpful Checklist

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Fintech Career Path: Roles, Salaries & Progression

Fintech Career Path: Roles, Salaries & Progression

Sophie Macon • Career Advice

Where finance meets cutting-edge tech – that's fintech. We cover the career paths in this rapidly evolving space, highlighting the skills you'll need to ride the financial innovation wave.

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Research Analyst Career Path: Roles, Salaries & Progression

Research Analyst Career Path: Roles, Salaries & Progression

Sophie Macon • Career Advice

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Answer to Quick Question: The market is in contango. However, by hoarding the physical asset themselves, the chickens are vastly underestimating the cost of carry, specifically storage costs, depreciation via spoilage, and the fact that a family of local mice is currently eating their entire investment portfolio.

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