[jaymzfagan]

Dublin was an unprecedented mess (CBE). They couldn’t get anything to work and all but six people were removed from the exam room and told to wait until such time as their name appeared on their monitor in the exam room, at which point they would be called back in. Left at 12.10pm as I had to go to work and only about 12 people had been ‘lucky’ enough to be called in to sit their exam by that point.

[jaymzfagan]

Thought exam was fair, but an awful lot of text to absorb, left about 20% undone and would be sure of passing had I had another 45mins. I must be a very slow writer, or thinker 😉

[jaymzfagan]

52% on the second attempt, took tuition for the 1st attempt on advice from a friend and failed with 33%. Open tuition for attempt #2 and all praise to Christ(opher) 😉

[jaymzfagan]

Thank you, John. I suppose I should have guessed at that myself, since it is so obvious once explained!! Sometimes you just have to take a breath and think about it logically, although that’s not always so easy when time pressure is on before an exam 🙂

[jaymzfagan]

John,

Regarding June 2014 Q1 (b). Sorry if I’m doing this wrong by replying to an older post, but I am confused as to why the examiner has aggregated the costs of the initial investments and their NPVs and described the resulting amount as “PV of future cash flows” before calculating the profitability index. It seems to me that the initial investment is not a future cash flow, and certainly not an inward cash flow. I appreciate your point above that the same rankings will result from just dividing the NPVs by the initial investments, but conceptually this has me flummoxed.

I would be grateful if you could throw a bit of light on the examiner’s reasoning here.

Thanks and my compliments to you and your website, both outstanding 🙂

James

[jaymzfagan]

48% first attempt with bpp, 76% second attempt with opentuition. Thanks John, loving your work 😉

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