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GIPS - portability of past performance
Hi all, help with this question please:Reading 33 Question 31 Page 298.Q: At Firm T, Manager D is reponsible for Firm T’s EM composite. Although Manager D makes all the investment decisions for the...
View ArticleEssay Questions - Including More Than Required (right or wrong)
Does anyone know how answers are graded when more info than required is presented?For example:Jane needs $50k for her childs education and $3MM for an annuity at age 60.What are the liquidity...
View ArticleRoll Yield and Backwardation
When it comes to deravative I know that one speaks of backwardation if the spot rate is grater the the futures rate (i.e., S_0>f_0). In this situation the long earns a positive roll yield.However,...
View ArticleRV of a Charitable Gift
Reference to BB, example 7 on page 299 of volume 2.Trying to digest these formulas in a way that is easy to remember. Looking at this example, I understand the left side of the numerator is the...
View ArticleAnswering in short (example)
Here is a question.Discuss how the ratio of financial to human capital changes as Sanchez approaches retirement.Answer 1 As Sanches approaches retirement, his financial capital increases and his human...
View ArticleReflecting on CFA Level II Exam Prep
If you all can recall, what sorts of scores where you getting on CFA Level II practice exams? I am using the Schweser study material, so any insight on scores from this prep course would be especially...
View ArticleGrossman paradox?
Anyone who can explain Grossman paradox - the highlighted parts seem to contradict & confuse me.… if markets are to be efficient, a return should accrue to information acquisition. If markets are...
View ArticleEffective Annual interest- effective loan
Reading 28So the denominator of the equation for the effective annual interest rate is the effective loan, basically notl with the compounded option premium. Question- why is it that when a borrower...
View Articleactual and mock exam
hi retakers, any idea whether the actual PM paper is tougher or easier than mock exam?
View ArticlePrice Discovery?
What is it? Simple and likely self-explanatory, but just not mentioned in the text for reading 16
View ArticleWeekly VAR when given annual return
If annual return is 6% and standard deviation is 12% - weekly return is 0.06/52=0.1154% - weekly standard deviation is 0.12/(52^0.5)=1.6641% For standard deviation, why do we divide by square root of 52?
View ArticleSharp ratio
CFAI EOC # 23:Magerski’s concern about a biased Sharpe ratio for hedge funds is most likely because:eliminating extreme returns reduces the standard deviation of returns.smoothing returns can overstate...
View ArticlePoor economic times effect on bond prices
Hey everyone. Hope your brains are hurting too bad. For a 5 year bond, why do prices rise during bad economic times (Schweser question)? I understand flight to quality and easing monitary policy,...
View ArticleRTFQ
So for previous levels, I would not start with reading the whole vignette. Instead I would go directly to question section and find relevant section in vignette.It seems like now, during constructed...
View Articleis tax being tested in the real exam before?
Hi everyone, are Tax calculation like deferred, accrual basis or the charity gift tax really being tested in the real exam?
View ArticleLive Mocks
Are there any other options for live mock exams other than Kaplan. Trying to take this study sess more seriously than L2. Thanks.
View ArticleSo retakers...how difficult is the PM session really?
The concept of getting killed in the AM and doing well in the PM has been a resounding theme.I took a Schweser PM session and found it to be as difficult as any of the level 2 vignettes (difficult to...
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