Question on AM Grading

CFA Level III
#1

Hi all,

I am going thorugh past AM exams published by CFAI, and want to be sure when it comes to grading of questions that state e.g. “Identify one factor…”.

The recommended answer then usually gives 2-4 (short) factors. I just want to be sure that this is the maximum of possible answers and that one of them would indeed be sufficient to get full points on the question. They also seem to be stated in the order of importance sometimes, meaning the most prominent factor is listed first. If I would only (correctly) identify the least prominent factor, I would think that this still gets all the points. Is that correct?

Thanks!

#2

Yes Absolutely.

#3

One means one, even in CFA world

#4

If they ask for two, and you give three; they will cross a line after your second one and not award any points for the third, even if it’s right and your second one is wrong.

follow the instructions, you’re not there to impress anyone.