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Hello Sir John Moffat,
Firstly, I’m overwhelmed with your quick and co operative response and send to you my greetings from Pakistan. Just so you know, I have been using OpenTuition for the last two years and passed my Financial Reporting, Financial management and SBR exams through these lectures.
As for my question, I have a query with regards to the theoretical questions in AFM. What does the examiner expect and what should our approach be in the exam situation? I mean if we combine our basic knowledge and the material provided in the case study, can we draft an answer that way. It is because when I solve the theoretical questions on my own and compare them with those of the past papers, I feel extremely demoralized as if I stand nowhere compared to the exam standards.
This is my second attempt for this exam and really eager and hopeful to ace this time.
I cannot give an easy answer because it depends on exactly what the question is asking.
However in general you are correct and it is a combination of using your basic knowledge and what is provided in the question (and often, but not always, using whatever calculations you have done for earlier parts of the question).
When comparing your answer with the examiners answers, do appreciate that the examiners answers are always much longer than what is expected from students and that so often his answers are suggestions but credit is still given for other valid points.
Always look at the marking schemes printed at the end of the examiners answers and see which points were important for getting marks.
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