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  • BSAS 2012 Practice Exam Addendum: Level I: Morning Session

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    mdorneanu
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    This addendum provides corrections and clarifications to answers on the BSAS 2012 practice exam. It includes the correct answer to one question in the morning Level I session and clarifies the instructions for a question in the morning Level II session. It also shows the full calculation for one answer in the afternoon Level II session. Finally, it notes that candidates now need a valid international passport to register and sit for the CFA exam.

    Исходное описание:

    BSAS Errata

    Оригинальное название

    s 12 Pe Addendum

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    This addendum provides corrections and clarifications to answers on the BSAS 2012 practice exam. It includes the correct answer to one question in the morning Level I session and clarifies the instructions for a question in the morning Level II session. It also shows the full calculation for one answer in the afternoon Level II session. Finally, it notes that candidates now need a valid international passport to register and sit for the CFA exam.

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    © All Rights Reserved
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    17 просмотров1 страница

    BSAS 2012 Practice Exam Addendum: Level I: Morning Session

    Загружено:

    mdorneanu
    This addendum provides corrections and clarifications to answers on the BSAS 2012 practice exam. It includes the correct answer to one question in the morning Level I session and clarifies the instructions for a question in the morning Level II session. It also shows the full calculation for one answer in the afternoon Level II session. Finally, it notes that candidates now need a valid international passport to register and sit for the CFA exam.

    Авторское право:

    © All Rights Reserved
    Скачайте в формате PDF, TXT или читайте онлайн в Scribd
    Отметить как неприемлемый контент
    из 1

    BSAS 2012 Practice Exam Addendum

    Thank you for your comments and questions. All submitted comments were reviewed and considered by
    our exam coordinator and team of level coordinators. Only questions that were incorrect or needed
    further clarification are included on this addendum.

    Level I: Morning Session

    Answer 52. C. $9,370,337

    Level II: Morning Session


    Item Set 7

    Answer 42. Remove calculator instructions – answer remains the same.

    Level II: Afternoon Session


    Item Set 9

    Answer 50. FCFF = Net Income + Noncash Charges + Interest Expense x (1 – Tax Rate) - Investment
    in Fixed Capital – Investment in Working Capital (p. 280)

    FCFF= -21 + 35 +5.8 x (1- 0.32) – 73.0 - ((- 42 – 103.6 + 8.7) – (+ 89.5 + 29 -20.3))
    = 180.0
    Noncash Charges
    • Depreciation Expense2011 = 35.0

    Investment in Fixed Capital Calculation:


    • Capital Expenditures = 73.0

    CFA Program Identification Policy Change: All candidates must have a valid international travel
    passport to register and sit for the 2012 CFA Exam. Please direct all inquiries regarding this policy to
    CFA Institute at info@cfainstitute.org

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