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In the CBE exam we have a word processor and spreadsheet for each answer. In a few questions, I feel more comfortable in performing calculations in the word processor rather than the spreadsheet for example gearing and ungearing betas calculations. Are we allowed to perform calculations in the word processor or do we always have to do it in spreadsheet and reference it as appendices.
Usually you will not have a choice because the requirement will present you with either the word processor or the spreadsheet.
Do appreciate however that you can still type sentences in the spreadsheet, and also that you do not need to type out any formulas that you use within the spreadsheet because the marker is able to see what formulas you have used.