Partial credit in AM paper
How are partial points awarded in the exam ?
For example, if there’s a 4 point question asking you to calculate Tobin’s q and to evaluate if the market is over/undervalued, and you calculate the Tobin’s q to be, say 0.80 when the correct answer is 1.20, but you then make the correct inference on the under/overvaluation of the market based on the incorrect 0.80 Tobin’s q?
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