I would have to assume 2.75 180/360…then see if that worked in the calcs…It would be disdappointing to see an answer for both interpretations of the rate given.
I might have encountered such a thing before, where I knew the concept and formula, just couldn’t work out what they were asking…
Yes, I’ve encountered this on a couple (not many) CFA mock questions. Just ones where I no matter how thoroughly I read it I thought it could be interpreted in more than 1 way. I don’t remember ever having this on the level 1 real exam though, so hopefully they just put more effort into the actual exam Q’s so that theirs no ambiguity.