I’m referring to the bluebox example 13 on Cap. [Book5, page 448.]

Do we have to calculate the number days in each period? I know it’s using actual/360, but still hope it’s provided in the exam.

I’m referring to the bluebox example 13 on Cap. [Book5, page 448.]

Do we have to calculate the number days in each period? I know it’s using actual/360, but still hope it’s provided in the exam.

i think CFAI would give you the exact # of days

but if it doesn’t, remember july=aug=31 days!

yeah even if not then we should be able to calculate:

July-Aug-Oct-Jan-Mar-May - 31

April-June-Sep-Nov - 30

Feb-28 (hoping no leap year)

If a year is divisible by 4, it is a leap year. if it is divisible by 100, it is not a leap year. But **if it is divisible by 400, it is a leap year**. (eg. 1900 was not a leap year, but 2000). I do not think CFAI test on this.