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Hi John,
As I was solving this question, I noticed the examiner had rounded down the number of contracts whereas in CMC (June 14) the number of contracts was rounded up. Am I right to say that this is because it involves a receipt instead of a payment so the premium would be kept to a minimum? Thanks.
It doesn’t matter in the exam whether you round up or down – you will still get the marks (provided obviously you have done everything else correctly).
I always round simply to the nearest contract.
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