Guys,
Do you round the number of futures contracts required for a hedge up or down? I always thought you had to go to the clossest whole number, but in question 2 from reading 22 rounds 119.69 down to 119. What’s up with that?
I’m confused about that as well. From what I’ve seen in the CFAI books, they almost always round to the nearest whole number, but I have also seen it once/twice rounded up so that the hedge is fully covered.
On the exam, hopefully it shouldn’t be a problem. If on the PM, the answer should be +/- 1. On the AM, as long as you show your calcs, you should be ok. I’m going to go with rounding to the nearest number of futures.
I agree with rounding to the nearest whole number. Neither up or down is a perfect hedge. I don’t think CFAI would penalise you if you round to nearest whole number
I’d round to the nearest whole number. hopefully there wont be both options on the test 
I’ve always rounded to the nearest whole number.
I encourage you not to fret this. There are far more important things to fret.