Hey guys,
I recently heard that all the formulas you need to use in the exam are the ones who are explicitly stated as either ‘Calculate’ or ‘Compute’ in the LOS. Is it true?
Thanks in advance.
This might be helpful for you
http://www.cfainstitute.org/Documents/cfa_and_cipm_los_command_words.pdf
There’s no guarantee any given topic will be on the exam. But if it says “calculate” then obviously you need to know how to calculate it
^ Yep. Never hurts to understand how to calculate something, but typically the command words in the LOS (mohammad referenced them) say either calculate or compute if you need to do either on the exam.
When I took L2 or L3, I remember someone on here complaining that they made us calculate something when the command word was something like Explain or Select. So assume that anything is fair game.
May well have happened in L2 or 3, still probably worthwhile to treat the calculate command word as law given that exceptions appear very rare.
It is very possible. Let’s say the question asks you to select a portfolio, well you may have to do some calculations first, and that requires you to know a certain formula…
It’s totally evil I agree but this is how you have to play the game