Errata

Revised 5 November 2024

When I discover an error in my Survivor’s Guide to CFA Institute Command Words, in my Level III List of Lists, in my Investment Objectives for Institutional Investors, or in one of my mock exams, (or a candidate discovers one and tells me about it), I’ll post an erratum here and make the correction immediately.  Therefore, if you see an erratum here, the error may not appear in your copy; I may have corrected it before you downloaded your copy.  If your copy has an error listed here, please download a new copy; that error will have been corrected.

To make the corrections easier to spot, I’ve shown the old, incorrect text in blue and the new, correct text in red.

2024 Level II Mock Exam #1 Morning Session

Question 5.1, Questions and Answers: There was an error in the formula in the Answers file.  The answer choices for this question have been changed, and the explanation has been corrected.  Download the latest files to see the full changes.

Question 10.4, Questions and Answers: The answer choices for this question have been changed, and the explanation has been expanded.  Download the latest files to see the full changes.

2024 Level II Mock Exam #1 Afternoon Session

Question 2.2, Answers: The answer choices given, and the explanation of the correct answer, did not correspond with the answer choices in the Questions file.  I’ve rewritten the answer completely.  Download the latest files to see the full changes.

Question 5.3, Answers: The future value should be KRW −24,200, not KRW 24,200.  The payment should be KRW −27,500, not KRW 27,500.

Question 8, Case Scenarios: The last line should read, in part, “Casteels determines that the appropriate cap rate is 8.6%, and that NOI is expected to grow 4.7% per year.”, instead of “Casteels determines that the appropriate cap rate is 8.7%, and that NOI is expected to grow 4.6% per year.”

Question 11.4, Questions and Answers: The answer choices for this question have been changed, and the explanation has been expanded.  Download the latest files to see the full changes.

2024 Level III Mock Exam #1 Morning Session

2024 Level III Mock Exam #1 Afternoon Session

2024 Level III Mock Exam #2 Morning Session

2024 Level III Mock Exam #2 Afternoon Session

2024 Level III Mock Exam #3 Morning Session

2024 Level III Mock Exam #3 Afternoon Session

2024 Level III Mock Exam #4 Morning Session

2024 Level III Mock Exam #4 Afternoon Session

2024 Level III Mock Exam #5 Morning Session

2024 Level III Mock Exam #5 Afternoon Session