Depth of the answer required

CFA Level III
#1

What is the depth of the answer required for the questions asking to give 1(2 or 3) reason? Is just stating a case fact would be enough?

For example, 2014 Q6-A AM asks [question removed by moderator]

My answer:

  1. long term time horizon

  2. the board is confident that it could raise funds through donor contributions

  3. market conditions produced returns higher than required in the last few years

Would just writing the following 3 case facts be enough or i have to go further and explain why these factors increase the risk tolerance?

#2

Just short, concise bullet points, eh?

#trustme

#3

I have a similar question when they use command word DISCUSS

how deep in the discussion should we go? Write a paragraph or just state points with bullets?

#4

I have a similar question when they use command word DISCUSS

how deep in the discussion should we go? Write a paragraph or just state points with bullets?

#5

I think you need the “what” AND “why” long time horizon (what) - allows time for the endowment investment portfolio recover from any shortfall or negative returna in any given year (why)

#6

I agree with danv0330 , i think people loose many points because they fail to explain the why

#7

Its ok, the shorter the better.

#8

If your answer is brief and clear you dont need more than that.

#9

I would be interested to learn if a short answer like OP is sufficient. I have been ducking points, though I hit on “key words”, because it seems the CFA answers are a lot more elaborate than mine.

#10

but i understand they’re longer because they also explain to us everything regarding the answer in order for us to understand the answer. But it is very clear in stating the points you need to check in order to have the answer correct, am I wrong?

#11

I think if they ask to “give a reason” --> means just a case example without “why”. We need to exapand the answer with “why” part only if they ask to “explain”…

#12

Judge it by the required minutes for the question and then bullet points

#13

That is exactly what I’m also asking myself. I mostly get the answers correct, they are just waaaaay shorter than the guideline answers and not as elaborate linguistically. Given the only 3-4 minutes available for most sub-questions I can’t see myself writing down much more than that.