In or out of syllabus??

  1. Smoothing rule based on rolling 3 years average
  1. substyle: contrarian, high yield, consistent growth, earning momentum. (I thought only 3 substyle: Growth, value and market oriented)
  1. Evaluation of effect of change in discount rate on PBO (I thought this is L2?)

1)In 2)In 3)not sure, don’t suspect anything big on the exam for this. For 2) - growth, value and market-oriented are styles, substyles are what you describe. The first 2 are substyles for value, the latter 2 for growth.

I love Level 3

  1. leading cylical indicator and limitation of using it to form outlook


  1. sharpe style weight?