Thanks to visit codestin.com
Credit goes to www.scribd.com

Scribd
Upload
68 views1 page

BSAS 2012 Practice Exam Addendum: Level I: Morning Session

This addendum provides corrections and clarifications to answers on the BSAS 2012 practice exam. It includes the correct answer to one question in the morning Level I session and clarifies the instructions for a question in the morning Level II session. It also shows the full calculation for one answer in the afternoon Level II session. Finally, it notes that candidates now need a valid international passport to register and sit for the CFA exam.

Uploaded by

mdorneanu
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
68 views1 page

BSAS 2012 Practice Exam Addendum: Level I: Morning Session

This addendum provides corrections and clarifications to answers on the BSAS 2012 practice exam. It includes the correct answer to one question in the morning Level I session and clarifies the instructions for a question in the morning Level II session. It also shows the full calculation for one answer in the afternoon Level II session. Finally, it notes that candidates now need a valid international passport to register and sit for the CFA exam.

Uploaded by

mdorneanu
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
You are on page 1/ 1

BSAS 2012 Practice Exam Addendum

Thank you for your comments and questions. All submitted comments were reviewed and considered by
our exam coordinator and team of level coordinators. Only questions that were incorrect or needed
further clarification are included on this addendum.

Level I: Morning Session

Answer 52. C. $9,370,337

Level II: Morning Session


Item Set 7

Answer 42. Remove calculator instructions – answer remains the same.

Level II: Afternoon Session


Item Set 9

Answer 50. FCFF = Net Income + Noncash Charges + Interest Expense x (1 – Tax Rate) - Investment
in Fixed Capital – Investment in Working Capital (p. 280)

FCFF= -21 + 35 +5.8 x (1- 0.32) – 73.0 - ((- 42 – 103.6 + 8.7) – (+ 89.5 + 29 -20.3))
= 180.0
Noncash Charges
• Depreciation Expense2011 = 35.0

Investment in Fixed Capital Calculation:


• Capital Expenditures = 73.0

CFA Program Identification Policy Change: All candidates must have a valid international travel
passport to register and sit for the 2012 CFA Exam. Please direct all inquiries regarding this policy to
CFA Institute at [email protected]

You might also like