It seems to me like I have always heard that the CFAI won’t ask a question that is dependent on prior questions. So in other words, one question asks you to find the wacc, then the next asks you to use that wacc in a calc. in the corporate finance EOC’s there is a significant amount of Q1"calculate after tax cash flows" Q2 " calculate terminal value net of taxes" Q3 “Calculate NPV” You couldn’t really have arrived at the third without having arrived at the first two correctly. I’m assuming their doing this becauae its juts a sample - what do you guys think?

Q2 will be structured “Assume after cash flows are $1 million per year, calculate the terminal value net of taxes.” Same thing for Q3.