On page 82, Book 3 of Schweser, a line of text in blue box says, “The material on the next several pages is presented as necessary background material. It is not specifically addressed in any LOS” and on the next 2 pages they introduce the general hedge ratio formula and the hedge ratio for interest rate risk and definition of yield beta as change in bond yield/change in CTD yield (Pages 83-84). Is Schweser saying these formulas are not on the test (meaning that I don’t have to memorize them?) Thanks!
I wouldn’t take that advice. They were really bad last year on trying to game what would and would not be tested.