Private Equity - NAV

CFA Level II
#1

In private equity, if the questiosn only mention NAV (do not mention it’s NAV before distributions or NAV after distributions), what should we treat? Should be NAV after distribution?

Thanks.

#2

i highly doubt they would only mention NAV especially if it was for a PE question, if anything i’m sure they would have given some hint in the previous sentences. if they didnt do any of this, i personally would take it as NAV after distribution.