Different in rate quoting of CFA mock and Schweser

CFA Level II Derivatives
#1

Not sure if any of you has noticed this difference: this drove me crazy this morning for a swap question

See CFA mock 2011 morning Q.7: after 45 days into the swap, they still quote the rate for 90,180,270,360 terms

But all problems I see in Schwswee, they automatically deduct the days into the swap; they would have quoted it as 45,135,225,315 terms

Why is there a inconsitstency between the two? I got to keep trying n trying scratching my head with it and realize CFAI uses different quote convention

Anyone encounter/ catch that difference like me?

Sigh…doing this swap problem make me want to throw off honestly. Totally not worth all the time you gotta spend on them

#2

I think its an error, they put the same question into the 2012 mock too, but with the corrected days (45 , 135 etc)

#3

Not an error but a confusing wording. On top of the tables it says:

“Term Structure of Rates 45 Days Later (%)” in exhibit2 vs “Current Term Structure of Rates (%)” in table 1 .

#4

I noticed this one as well. I think even if CFAI prints a dot at the bottom of question paper, there must be a reason for it. :slight_smile:

#5

It was in errata for the 2011 exam. Definitely an error.