WME Exam 2 FAQ — Case Strategy, Timing, and Common Traps

Is Exam 2 harder than Exam 1?

It’s different. Exam 2 is case-based: the challenge is prioritization and integration, not memorizing isolated facts. If you need Exam 1, see WME Exam 1.

What should I do first when reading a case?

Extract a one-page “case sheet”:

• goal(s) and deadlines
• liquidity needs
• risk tolerance and risk capacity
• tax-sensitive constraints
• debt and cash flow pressure
• missing information you need before recommending

What are the most common traps?

• missing a constraint (liquidity, time horizon, debt)
• picking a product before you’ve defined the plan
• doing math without a decision purpose
• choosing an action without documenting or prioritizing next steps

How should I practice?

Do timed case sets, then review misses using three labels: facts missed, wrong priority, wrong interpretation/calculation.