Do you get workings marks if you don't use CFAI formulae?

CFA Level III
#1

For example, when calculating CGT I prefer to calculate it a different way to the way the textbooks calculate it - would I be penalised for using a different method? Thanks

#2

Not if you get the correct answer.

I e-mailed CFA Institute about a similar situation involving derivatives: I advocate a different calculation for adjusting a portfolio’s value, beta, and duration than CFA Institute’s. In their reply they assured me that if my candidates follow my approach and get the correct answer, they’ll receive full marks.

#3

No penalties whatsoever but beware if you use proprietary methods they could be stolen by examiners and used against you in the open market.

#4

I’m not sure my methods could ever be considered proprietary :wink: Thanks both.

#5

correct me if i’m wrong or if the schweser belief is wrong. But David Herrington indirectly implied in 1 of his on-demand videos that the most important thing is to label your answer (i.e. what you are solving for). Of course show your work as well but you don’t have to write out the formula (either by symbol or words)

#6

I’d agree with David.