In question 3,

they put hedging instrument(future) in numerator in the answer.

But I learned from curri. book put the instrument tool in the denominator and hedged part( the fund) in the numerator.

anyone helps me out solve this problem, Thank you

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CFA Level III

“Fixed-Income Portfolio Management—Part II,” H. Gifford Fong and Larry D. Guin

Section 5.3.4

This is exactly the same formula as:

(Dt - Dp)/Df x (NP/Price Fut) x (Yield B) as in Derivatives part. If this what confused you. You should learn both formulas.

The above answer is directly out of Reading 22. I agree with Flashback. You should probably make sure you know both approaches, or at least know the above. The given information in the problem should be a direct clue as to which approach to take.