nor_cal1982 Wrote: ------------------------------------------------------- > I disagree. But whatever we’ll all see when the > grades come out. > > I remember the words equal sized firms too… > Problem is I don’t remember the question > specifically asking for the number of equal sized > firms. I remember it asking for the number of > firms in the industry. The vignette said the industry was made up of equally sized firms, not the question. Then it proceeded to provide 40 firm concentration and the HHI. They questions did not specify which on to use, and since the HHI includes 100% of the firms and we know that they all have equal concentration the HHI is the only one that allows one to derive the # of firms. This concept was more a level one concept (they addressed it specifically there) so I’m glad I did back to back Dec/Jan. There is just no mathematical way to derive # of firms from N-concentration w/out more info then was provided IMHO.
> I disagree. But whatever we’ll all see when the > grades come out. ____________ Actually we won’t, since the actual answers aren’t provided. You’d think CFAI would realize that it would benefit us and our learning the material to actually see what we got right and wrong, but no, they have to be super duper secret about everything.
i cannot believe so many investment professional sucks in math 
It did ask for equivalent size firms. The 40 firm concentration number was a distractor, all you needed was to take 1/H and the answer was 313.
I did ask for the equivalent size firms. I did the math, rechecked the question in the last 15 minutes and I know I was right. Glad to see that most also got 313 right and if I read what the 125-fan says I’m even more convinced that 313 was the right answer. What he says does not answer that question.