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FM – Rounding Discount Factors for Sections A & B

This topic has 1 reply, 2 voices, and was last updated 2 years ago by John Moffat.

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November 16, 2022 at 3:56 pm #671619
charlie00
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Hi, I recently did the Specimen FM paper on the practice platform and often use the formula (1+r)^-n for discount factors instead of the formulae sheet.
However, this resulted in a wrong answer for question 29 because the emaxiner expected the DF to three decimal places.
Does the marking scheme make allowances for rounding the discount factor in the FM exam? Should I always use the formulae sheet?
November 16, 2022 at 4:44 pm #671631
John Moffat
Keymaster
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In sections A and B it will not matter in the real exam because the question will either specify that an answer is required to (say) the nearest thousand (in which case the rounding becomes irrelevant) or the computer will allow both answers to be marked as correct 🙂
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