Are we required to use the Black Scholes Model to price the option cause the LOS says explain and evaluate BSM only.

Thank you

No, you are not expected to know the formula. Just know how it works, what are its elements and how their changes affect prices of the options.

who says we aren’t supposed to know the formula?

There are blue boxes on it, therefore it is examinable as a computation. I’ve learnt it.

You won’t have to compute an option value using BSM.