Rounding Answers

Been scouring the internet… does the CFAI expect us to show the final answer rounded to two or one decimal place? In addition what is their threshold for penalization? (ie…, 7.52% instead of the correct answer being 7.53%)

I generally go with 2dp, though I doubt you’ll be heavily penalised, maybe 1 mark (out of 180). What they’d be more focused on, as with any other exam, is the steps that you’ve followed to get to the final answer.

so far, their essay guidelines in past papers leans to either 2 decimal places or 4 decimal places

you should still get full marks assuming your calculations are correct and the only discrepancy is due to rounding error.

Thanks for replying! I’ve been marking myself off when self-grading the AM exams due to rounding errors just in case. :slight_smile: