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Hi John
Quick question on marking. I was working through a practise exam and was dealing with NPV and IRR. Well I made a mistake on the sales revenue calculation on the final year (year 4) on the NPV calculation which had inflation, and this was a pure calculator mis-type. Everything else was correct including discount rates and so on. The IRR was therefore different from the actual correct answer, yet the methodology and calculations were correct, just with an incorrect NPV figure being used.
My question is, will I lose marks all the way along in this question, or will I just lose minimal marks relating to the NPV part.
And with the IRR figure technically being “wrong”, is the examiner likely to give marks for the correct approach etc and overlook the wrong NPV figure?Thanks very much, John.
I really appreciate your time to answer this.Gary.
If you look at the marking guides that the examiner puts at the end of all his answers, you will see that each part of the workings is marked separately.
Also, you do not lose marks twice for the same error. So if you make a mistake at the start, then you lose marks for that mistake, but if you do the rest correctly (using your wrong figure) then you still get full marks for everything else.
It does mean that it is really important that you show your workings neatly so that the marker can see what you are doing (and give you the marks) even if you are using the wrong figure from an earlier part.
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