I’m taking my first CFAI past exam morning session, and I’m not seeing anything in the answer guide explaining what components of each answer would give points for partial credit. Schweser’s morning exam answer guides give specific points that owuld give you partial credit, is there something similar for CFAI? I’m hesitant to give myself partial credit on answers without seeing CFAI agreeing with some of my underlying points or computations. Advice?
I’m curious as well, but for now am assuming it’s wrong unless I nail it to a T.
STALLA INDICATED THAT IF YOU GET THE FIRST PART WRONG WHEN YOU HAVE TO CIRCLE THE ANSWER (IE, CIRCLE THE EFFECT RISING INTEREST RATES HAS ON THE BOND, INCREASE, DECREASE OR UNCHANGED), THEY WONT EVEN LOOK AT THE SECOND PART, SO THAT WOULD BE A BIG FAT ZERO
Schweser puts it similarly.
that sucks the big one
But what about a 12 point question asking for the required return of an individual’s portfolio? Do you get partial credit for determining current portfolio value in your calculation (ie adjusting port for excluding property and immediate outlays) even if your return calc % is wrong? Or is it all-or-nothing? Would think there would be some partial credit since there are multiple steps required, as long as you show your work and some pieces are correct. Thoughts on this?
You would definitely get some credit. I would think you could still get ~50% of the possible points for missing one specific (assuming that wasnt the only difficult step in the problem). just be hard on yourself when grading your own exams and you will know the areas you need to improve.