For the retakers: does the exam specify how many days are in the year, ie. 365 or 360 or are we responsible for this? …I know, for example, that LIBOR on Eurodollar is based on 30/360 but not sure if there are specific # days for various derivative types. Thanks and good luck.
365 for forwards. For derivatives I think that’s the only place you use 365.
if it says 2 months use (2/12) if it says 30/60/90 days use 360. If anywhere in the question you see 45 or 65 or days ending in 5 use 365
FRA always use 360.
If you happen to bump at a question that relates to Libor or Eurodollar… use 360 days as it is. In other cases, 365 days