CFAI Free Exam #1

Sorry if there was already a post on this…how were the scores here? I got a 66, but there were so many questions where I was saying “f you, I knew that!” Especially where they asked for the option strategy payoff and I gave the profit.

hehe I made the same mistake, profit instead of payoff… it’s hard because they are on a screen instead of paper… I keep telling myself…

I also gave the stupid profit instead of the payoff and while answering I was thinking “Ha…I bet most people would forget to substract the premium” AGHHH that made me real mad when I saw the answer! I think this was a good practice test. It gave me a few more “tricks” to memorize.

^same ;(

same… but it was a stupid question… in the graphical payoff profiles, the premium is usually represented.

Also, so Payoff = Value not Profit very tricky

I actually made the same silly mistake (: yep, Payoff = Value

well, glad to hear that I wasn’t alone!

same here :slight_smile: better now then on exam

me 2

Question 8 on that test I struggled with: Can anyone pls explain why the unsecured loan for the bank is equivalent to “long Rf + short put”?