Schweser Errata

Would anyone be kind enough to send me an errata form for Schweser Practice Exams (both volumes, if possible)? Unless I’m going crazy, I feel like there are some errata in the exams and I’m getting frustrated. Please email to ok.bye2009 @ y a h o o . c o m. Thank you.

Any help would be appreciated. Thanks.

Here’s the errata for volume 1 and 2, if you have online access you can get it there also: Practice Exams, Volume 1 Correction Page 215, 223 question 13.5 the correct answer should be choice C “neither statement is correct”. Posted: 2009-04-24 Clarification Page 58 the last sentence at the bottom of the page the loan by Crawfordville Bank is a floating rate liability to the bank similar to if they had issued a floating rate CD. Posted: 2009-04-03 Correction Page 179 for question 18.1 the correct answer is choice C but the proceeds of the forward contract would be 14.5 million. The calculation on page 330 for this question should be changed to €10m X 1.45 /€ = $14.5 million. Posted: 2009-04-06 Correction Page 116 in the first statement near the top of the page the last word should be changed from “poor” to “attractive”. Posted: 2009-04-27 Correction Page 206 question 7 answer B.iii. the reference to interest rate calls should be replaced with long treasury bond futures. Posted: 2009-05-24 Correction In the answer explanation for question 12.2 for Exam 1PM on page 219, the correct answer is C despite the answer text referring to A as the correct answer. Posted: 2009-04-30 Correction Page 52, 215, 221 for exam 1PM, the answer for question 12.6 on should read: “C. Both are incorrect” Posted: 2009-03-11 Correction Page 215, 223 the answer for question 13.6 should be choice C “Both Castillo and Diaz are incorrect” and in the answer explanation it should also say “Castillo is incorrect” Posted: 2009-01-29 Clarification Page 227 question 15.4, the answer explanation is not clear as to where the 0.2% depreciation comes from, but it is the U.S. risk free rate minus the European risk free rate (4.8 – 5 = -0.2%), and this represents the forward discount for the euro. This means that the euro will depreciate by -0.2% based on the risk free rates in both countries. The other -1.2% mentioned in the question refers to the manager’s expectations of what will happen to the euro relative to the dollar. When a person hedges using a forward contract they lock in the forward discount (or premium). So in this question it states they are hedging using a forward contract so they are locking in the -0.2% depreciation of the euro. If they had not used the forward contract to hedge the currency risk, then the euro would have instead depreciated by the manager’s expectations of -1.2%. Posted: 2009-04-15 Correction Page 248, Exam 2AM, Question 6.A, the calculation for the utility of corner portfolio 2 is 0.085 − 0.5(5)0.0582 = 0.07659. For Question 6.B, the calculation for the σp = 0.167(5.8%) + 0.833(7.8%) = 7.5% Posted: 2009-05-20 Correction On page 276, the answer explanation for Q19.4 should read: “The implementation shortfall = (1,450 − 336) / 111,800 = 0.00996 or 0.996%.” Posted: 2009-05-06 Correction Page 313, 320 the correct answer choice for question 13.5 is choice A “only the statement about cash flow matching is correct”. Posted: 2009-01-12 Practice Exams, Volume 2 Printable Version - Sort by Newest First - Sort by Oldest First Correction Page 446 exam 3 problem 16.5 the correct answer should be C. Posted: 2009-04-15 Correction Page 197 question 20.2 exam 1: eliminate the level of the market. Using the data provided, calculate the maximum profit of a butterfly call spread. Posted: 2009-04-23 Correction Page 441 and 446 for exam 3 afternoon session question 16.5 the correct answer should be choice C. Posted: 2009-05-02 Correction File Included: Level 3 PE Vol2 p171.pdf Page 212 the vignette is missing for questions 3 and 4 and is in the attached PDF file. Posted: 2009-01-22 Correction On page 334 of PE Vol. 2, the first line under the first ‘For the exam’ should read: “1/n diversification: Defined contribution plan participants…” Posted: 2009-04-24 Correction Page 401 exam 2 afternoon session the correct answer for question 19.3 should be B. Posted: 2008-12-17 Correction For exam 2PM, question 14.4, the correct answer is ‘B: Characteristic 2.’ The correct answer for question 14.5 is ‘C: Ybarra has violated CFA Institute Standards, while Cliff has not.’ Posted: 2009-04-30 Correction Page 406, exam 2AM question 16.6, the second sentence of the second paragraph should state “…the IO strip will decrease in value due to the positive short-term durations.” Posted: 2009-05-20 Correction For Exam 3AM, Question 13, each of the three sections are worth 3 points if the entire section is answered correctly, for a total of 9 points. Posted: 2009-05-28 Correction Page 441 exam 3 afternoon session the correct answers for questions 14.4, 14.5, and 14.6 should be: 14.4 B, 14.5 C, 14.6 A Posted: 2008-12-16 Correction Page 455 exam 3 afternoon session the answer to question 20.5 is incorrect. Since the pound futures were sold and the pound appreciated relative to the euro there was a loss on the futures of 0.63%. The pound futures were originally sold at 6,329,114 euros and since the pound appreciated Wulf is required to deliver 6,369,427 euros resulting in a loss of 40,313 euros or -0.63%. The total return from hedging the principal is the gain on the unhedged assets of 6.08% - 0.63% loss on the futures = 5.45% overall gain. Posted: 2009-03-19

Celtics, you are the best!!! Thank you!!!