Predictions

No. Given that the exam is set 4 times a year, it would be silly to try and make any predictions :-) Except of course, as the examiner has written, every exam will have question(s) which have a focus on advanced investment appraisal, and on advance risk management techniques.

Phobos (12/08) Interest Rate Question. In the question they have given Open and Settlement prices for the short-term sterling futures. Is there any rule on selecting the applicable price?

In future you must start a new thread when you are asking a new question. We use the settlement price. (However this is a very old question and was set by the previous examiner. The current examiner does not confuse by giving two prices.)