hi as far as i know, the exchange rate of /€ means per € On page 451 from volume 2, the book refers in exhibit 28 for the first rate as euro/CHF rate of 1.657 – this means that holding value should be found by dividing the holding value in euro by the rate not multiplying it! The same applies for the rest of the exhibit. In item set #3, pages 470-471, of the same reading, the textbook refers to the rate as \$/€ and to find the value in euro, the solution manual on page 473 divides the rate instead of multiplying it. This proves the mistake in exhibit 28 … Thoughts?

up

Just looked into this - i believe you’re right. The answer on 473 divides it and so should this. I checked the errata and previous posts but havent seen anything on it…wierd

Yeah i checked errata and it doesnt say anything - I sent them an emaill Omar

CFA response: “Thank you for your query. You are correct, and we appreciate your bringing this to our attention. We will make the corrections (euro:CHF and USD:CHF) when the online Level II Errata is updated. Thank you again for taking the time to inform us of these typos.”

GOT EM!

wow nice… sticking it to them! But this is why it sucks so much, If you don’t read the errata (some ppl don’t) you can very well learn the wrong thing, and considering the incredible amount of material, it really should be perfect.

Good job. So /€ means per €, and :€ means € per , correct? I keep seeing contradictions.

mp3bu Wrote: ------------------------------------------------------- > Good job. > > So /€ means per €, and :€ means € per , > correct? I keep seeing contradictions. Yuppppp

I have no idea why they would use that stupid colon convention. Just use the damn slash line and stop trying to make concepts overly confusing. Do people in international markets use the colon or something?

KSTHANE Wrote: ------------------------------------------------------- > I have no idea why they would use that stupid > colon convention. Just use the damn slash line and > stop trying to make concepts overly confusing. Do > people in international markets use the colon or > something? was thinking the same!

they said that it was changed because it is more common in real world applications

I’ve never seen the colon convention used anywhere but in the CFA curriculum. I read equity research every single day and I’ve never seen it used the way the CFA Institute does. It’s stupid.