Ok here is a question I’ve been wondering: Will there be a question where the answer of which depends on the answer of a preceding question? Let’s say the answer of question 1 is 10%, will there be a question where the calculation of question number 2 REQUIRES that you have answered question 1 correctly? I’ve seen this happen on Schweser exams, but not on the CFA Exams or questions yet. What is the offical answer to this question? Thanks.

… of course, it happens in some questions, but most I would say are fairly independent in their calculations but not in their concepts!.. i.e., second part still talks about intrinsic P/E, or the need to do profit margin, etc.

Also wondering about this myself… worried about it I mean!!

i.e. there are questions that ask you to calculate FCFF and FCFE. You can take the shortcut and calc FCFE with FCFF. If you didn’t calc FCFF correctly then you are screwed. That’s your own choice though.

From the cfainstitute.org website. it says the six items can be answered independent of each other… The six items in each item set can only be answered based on the information in the vignette. Hence, the items are not free-standing (as in Level I), but are drawn from the vignette. You will need to read the vignette before answering the items, and you will need to refer back to the vignette for information. The six items can be answered independent of each other, but they do require information in the vignette.

Ahh,thanks for the post bluekayaker, that answers it.

… calculations are independent, but concepts are not necessarily so.

I think they will all relate to the similar topics, however, it appears the answer to one won’t be an input to calculate the answer to another. Phew!