For those who have the 2016 CFA level 2 volume 2 book, solution#8 in page 17 solves days of inventory on hand and it uses 366 instead of 365 because 2008 was a leap year. Are we suppose to know the leap years during the exam?
btw, I didn’t see the question mention that 2008 was a leap year until I got to the solution.
That would be absurd.
The point of the exam isn’t to find out if you remember the rules for leap years.
(Note: if they do ask such a question, remember that while 2000 was a leap year, 1900 wasn’t, and 2100 won’t be. 
)
You are right. I was just wondering whether we should be aware of the leap years. Anyway, tthank you for the reply.
Por nada.
Leap years are every 4 years: 2008, 2012, 2016, 2020, 2120, 4000.
Except that every 100 years _ isn’t _ a leap year. So 2100 isn’t a leap year, nor is 2200, nor 2300.)
(Except that every 400 years _ is _ a leap year. So 2400 is a leap year.)
Didn’t know about those 2 rules apart of the “every 4 years” rule. Thanks for the info!