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CIMA P3 Chapter 11 Test

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Comments

  1. tavatose0108 says

    October 12, 2018 at 11:58 pm

    why should we divide different currencies $ and £,should we convert the $ to £ at the spot rate not given as this is not like for like?

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    • Ken Garrett says

      October 14, 2018 at 12:30 am

      Which question are you asing about?

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  2. msj4396 says

    March 21, 2017 at 1:14 pm

    can you explain 5th question, particularly how is 9/3 taken?

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    • Ken Garrett says

      March 21, 2017 at 10:33 pm

      Interest option contracts last for only 3 months. So, if a loan is for 9 months and you therefore need to cover nine months of interest you need to have 9/3 times the number of contracts you might think.

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      • irfankhoso says

        September 21, 2018 at 2:42 am

        Could you kindly explain it a bit further, as 9/3 is still confusing, 3 only seems mentioning remaining 3 months, but in study text we didn’t come across such a thing, 9/12 is used in books to specify the interest for 9months out of 12months.
        Moreover in kaplan study text, kit and other materials they never used months calculations while finding number of contracts, why were they used here in the first place? Thanks

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