Partial Credit for Essay Question

CFA Level III
#1

This is my first time taking Level 3 and I am currently working on the Schweser Mock Exams as well as the prior year exams provided by the CFA Institute. I have a question with regard to grading some of the multi-tier question. As an example: the question is asking for an “Appropriate Trading Strategy” for a given Stock (based on order book) and the “Justification” of why this trading strategy was appropriate.

If in my answer I picked the wrong trading strategy, but my “Justification” argument is correct - meaning it matches the solution; Do I get points for the “Justification” but not for the “Appropriate Trading Strategy” or do I not get any points given that I selected the wrong trading strategy and thus any justification thereafter wouldn’t be considered in the first place?

Would very much appreciate any comments.

Thanks,

AG

#2

I think you would receive no points if you justified the incorrect answer, even if your justification was completely correct.

#3

Thanks JeffO15.

Does anybody else have a comment on this?

#4

I’d tend to agree with Jeff.