NYC Exam Day Lunch Options

Hey there, just curious as to what people who have taken the exam in NYC recommend for lunch. Does Javitz have their food vendors open, or does everyone try and get to the carts/subway/dollar pizza nearest. Do they let you keep a lunch in another room, maybe i’ll just put some tots in my pocket.

2008 Exam Question 7C "compound annual interest rates"

Looking at this “who bears credit risk in a a forward” question. I understand that there is no discounting for the F and S prices for this particular case, however, I am wondering, if there was discounting, what does this mean :

“Compound annual interest rates for the two-year period: 1 percent in JPY and 10 percent in ZAR.”

Does it mean you wouldn’t raise 1.01 and 1.10 to the power of 2? My understanding is these are still annual rates, so to discount it back by 2 years, you would raise to 2: 1/(1.01^2) and 1/(1.10^2)

Thanks for any clarification!

Equities: Justified P/E based on inflation

I’m doing a CFAI questionbank on Equities and I’m confused about their answer to a justified P/E ratio as it relates to Inflation.  They state, that all else equal, a company operating in an environment with higher inflation will have a lower justified P/E than one operating in an environment with lower inflation.  

CFA Level 1 - Boston, MA

I am studying for December’s level 1 exam. I think it would be beneficial to form a study group which meets on Sundays (ideally) or one night during the week. I can be contacted at (617)-763-3385.

Champions League final and the CFA exams.

The CFA exam will hold on the 6th of June, globally,  fortunately and unfortunately, that’s the same day the Champions league final between FC Barcelona of Spain and Juventus of Italy will take place.

For candidates writing the exam in the United States, this obviously means we will miss this exciting fixture, which is quite disheartening! I support FC Barcelona, and already I am rueing my inability to watch the match.

Cumulative return vs. benchmark

Say you have a 5 year CUMULATIVE return of Fund A of 85%. The S&P’s 5 year cumulative return was 105%.

To compare the difference of the 5-year cumulative returns, can you just subtract the two #’s = 20%?


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