Mistake in exam

Am I the only one who believes there was a mistake in the instructions to one of the fixed income questions?

I might be wrong, just curious if anyone else saw that.

Exactly. That’s why this comma mistake was so obvious. The question did only make sense if you corrected the comma. Then it was very straight forward. Still lost me a few minutes…

I have no clue what you are talking about lol.

Let’s assume you have a simple fixed income question of some sort that gave you a face value of 1000 and a market price of a bond of 98.15. Does not make any sense, right? It must be 981.5.

Maybe it was so clear that people didn’t even spot the error and just calculated with the correct amount.


No, actually it does make sense.

Face value is $1,000. But the quotes price is based on $100 par. I.e. If the face value was $5,000 they still quote prices per $100 face value.

As said above, this is just standard convention - it is interpreted as a percentage. It looks like you figured it out on the spot though so, good for you!

As a percentage! Of course, now it makes sense. I feel very silly right now…

personnaly i think there was a mistake in Quant afternoon, then again, not sure if we all took the same exam.

I know we are not to discuss the questions but just saying, the coeficient of variation question didn’t feel right…

Pretty sure this is breaking ethics this topic…

No, it makes sense. 0.9185 cents on the dollar.


apparently you guys didnt read the ethics material very well…these references are way too specific regarding questions…id be deleting my posts if i were you…

it is ok to say “i felt that there may have been an error in one of the areas” or “i found x section to be challenging”…but to actually list a topic of a question as was done in one post…or to use figures to mimic a question as was done also is a violation.

CFA institute has the ability for u to submit feedback to them if you felt there was an error…if it doesnt bother u enough to do that i wouldnt even mention it on this forum…they do monitor this forum and many people have been busted for discussing material on here

not trying to rain on anyones parade…just giving advice here…



Spot on!

I’m not sure why people seem unable to resist the urge.


Honestly, I miss having this sort of post exam discussion. I thought it was a lot of fun and very helpful / therapeutic. Back when I was studying, a few even went so far as to recreate the exam IN ORDER very accurately off of memory. It was super impressive, although the CFAi still disciplined them for it.

However, the CFAi has clearly stepped up their stance on this, so I’d advise you guys to avoid this discussion for your own good. I disagree with the CFAi on it, but I don’t make the rules…