If there are 3 apples, and you take away 2, how many apples do you have? A. 1 Apple B. 2 Apples C. 3 Apples
well, clearly I am leaning A, but this is the CFA, so they are probably trying to trick me. So lets see - A would be the obvious choice, so scratch that. Now in the problem, it says “take away 2”. 2 what? it doesn’t specify. I’m going C.
The question isn’t asking how many you have left. Try to visualize the scenario.
I know that. I was trying to turn it into a joke and failed miserably.
After accounting for self attribution, overconfidence, and survivorship bias, I think the right answer is a 95% confidence interval of [-45, 15].
What a coincidence, this actually did happen to me. I had 3 apples, took away 2 as my bonus for superior tree-picking ability, and sold protection on the last apple. That last apple was wormeaten but I maintained it above current value because it had 4 seeds. In my mark-to-model, that counts as 5 future apples not 1. But the stupid market devalued my 5-apple package, so I applied to the Terrific Apple Lending Fund for enough cash to tide me over until the market comes to its senses and reprices my apples fairly, as 5. And whoa, more bonus! So, in the end, I have 2 apples and a bonus I spent on a couple of juicy melons. (what can I say, I’m a fruit man!)
which chapter is this from? schweser completely skipped this section. i can’t believe it.
I take it back B
cfasf1 Wrote: ------------------------------------------------------- > which chapter is this from? schweser completely > skipped this section. i can’t believe it. This was book zero (things you should know before you sit for L3).
ilkandi - brilliantly funny