Sorry if this has been discussed previously, I’m just trying to hammer home how much detail is required given time constraints. I was reviewing the 2016 AM answers and one of the questions asks to " explain two disadvantages" of a proposed trading technique. My response was literally 2 bullets of the disadvantages in sufficient detail. The guideline answers provided by CFA begin with a long, drawn out definition of the trading technique. To receive full credit, should I have defined the trading strategy? To me, the question asks just for the 2 disadvantages , why should I need to write a paragraph that doesn’t answer the question and then dive into the disadvantages? Thanks for any opinions/thoughts, and good luck in the final stretch!
bump
Bumping this again, would love any feedback!
Train yourself to only write short, concise bullets points.
#TrustYouMe
Must we repeat the question to get full marks?
For example, if the question is:
“Determine the nominal after-tax required rate of return for the coming year. Show your calculations.”
I could answer:
… , the return after-tax rate: (200+11000)/11000 -1 = 4.5%
Or I need to write
… , the return after-tax rate: (200+11000)/11000 -1 = 4.5% So, the nominal after-tax required rate of return is 4.5% for the coming year
#A
Thank you hashtag!
For example, if the question is:
“Determine the nominal after-tax required rate of return for the coming year. Show your calculations.”
I could answer:
… , the return after-tax rate: (200+11000)/11000 -1 = 4.5%
Or I need to write
… , the return after-tax rate: (200+11000)/11000 -1 = 4.5%
So, the nominal after-tax required rate of return is 4.5% for the coming year
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If all they ask you to do is calculate the after-tax required rate of return for the coming year, you’ll get full marks if you write as little as:
(200 + 11,000) / 11,000 − 1 = 4.5%
You don’t need to repeat any of the words; the grader knows what you’re calculating.
(Well, actually, you won’t receive full marks for that, because (200 + 11,000) / 11,000 − 1 = 1.82%. But you get the idea.)
Yes :), thanks S2000magician for your reply.
Back to the OP’s question, the guideline answers are written as a learning exercise, and often add far more detail than is required to answer the question for full points. Short concise bullet points that answer the question being asked is all that required. In your example, you would only need to define the trading technique if you were asked to.
You’re welcome.
How much space is provided on the actual exam in the exam booklet for writing? Any idea? Also, is the space ruled or just blank?
I gave my first Kaplan mock yesterday and I took 45 mins extra to do the AM. Upon reviewing the answers, I realized that I was writing WAY more than required. I was writing down answers in my notebook instead of the blank space provided. For anybody using the Schweser mocks, is the blank space provided in the mocks representative of the kind of detail required on the actual exam?