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Sir, please enlightened me about the fact that whether is there a need to state the formula in exam answer when we are attempting questions (especially those formulas which are not in formulae sheet) would it be wast of time to state them in answer or is it important to explain the chronology of our answer and be more professional in exam, lastly also please tells us whether the same applies if we write currency unit like $ or Pound every time we do calculation in answer sheet.
Thanks
The marks in the exam are for the workings and not for the final answer.
So yes – you should write which formula you are using, and it is important that your workings are neat and clear so that the market can see what you are doing (otherwise they can’t give you the marks).
There is no particular need to state the currency, unless it is a question on foreign exchange risk management, in which case it is vital to state the currency.
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