Exam Correction - Morning Session - Word-by-word or Meaning?

Many re-takers have complained that the essay portion is really not an essay but a reverse multiple choice exam. As such, how close to curriculum terminology do we have to stick for our answers to be approved?

For example, the first step of the framework for developing capital market expectation is worded as:

  1. Specify the final set of expectations that are needed…

In my notes I wrote:

  1. Define expectation data required…

Would my note answer get me full grades, or do I really have to memorize the specific wording?

Thank you,


expectation data is very vague. Could lose at least half if not all of the points. expectation data could be data required to support an expectation number . The expectation itself is a noun not an adjective. Should stand alone , IMHO

Use their stupid buzz words.

How are his notes any more vague than theirs?

data behind expectations such as fundamentals , macro numbers is data for expectations.

Expectations themselves are your work product , your analysis , the thing that brings in the revenue for your firm.

In step #1 you define the latter. Later steps may focus on the former.