Getting tripped up a bit on some of the call dates. For example, if the bond is callable at par in 2 years of a 3 year interest rate tree - does that mean 2 years from today ie: year 1…or at year 2.
Also, callable in 1 year of a 3 year tree…?
The whole process is easy - but I think people can easily get tripped up here during the exam…
Any thoughts?