Is is just me or when working though examples (such as an IPS or a portfolio adjustment) and they give you yen or pounds or euros… I get bored of the question faster than if they give me US$… I dont know what it is… probably Home Country Bias or some sort of Frame Dependence… anyone else?
Convert to dollars using the most recent exchange rate on the Friday before the test. They’ll have to pass you.
I am in the same boat. If they give $, my calculations and understanding is far better.
Dammit - I cant carry the WSJ exchange rate chart into the test with me! Seriously - I start to yawn with pounds, euros, and yen. Forget it if they throw in Swiss Francs or something Malaysian! I might as well take a nap! Its Pavlovian for some reason.
How about the evil Chinese YUAN!
I read Yuan … and head hits the desk and I start to drool. Whats fun is replacing ¥ with $s so it looks like I’m dealing with like 65 BILLION dollars! Then it becomes interesting... Sucks when I convert it back to US and its like $60 or something… like walkin’ around money…
Yeah its funny when I hear someone saying we are pulling out 1B Yen, and I’m like SH!T, then I realize its only ~$10M
Seriously - lets convert barrels of oil at Yen so it sounds even WORSE! 13,500 for a BARREL OF OIL! HOLY CRAP! ;-\
450Yen / gallon of gas!!!