Hi all, I understand that CFA does not exercise negative marking for MCQs or even essays. My question is, if you answer an essay question with as many things you can think of (even the ones that could be wrong), will your score be marked to zero even if your answer contains correct points? I give two examples and seek your help in answering my doubts:
Q1: List and explain 2 uses of market indices. A1: i) For performance benchmarking (correct) ii) For bragging rights (obviously wrong) iii) For portfolio analysis (correct)
In the above example, do I get the full 2 points or do I get negatively marked for my wrong pointer? Over here, the question asked for 2 uses, but I gave 3 —> will only the first 2 points be looked at?
Q2: Discuss the benefits of diversification. A2: (I can ramble on and on for 1 full page even for a 4 mark question)
In the above example, assuming I have hit all the correct pointers for the benefits of diversification, as well as the wrong pointers… How will I be marked on this? Full marks? Or if I have 4 correct pointers and 3 wrong pointers, do I only get 1 mark?