CFAI Error in Sample 2 MBS Question first, directly, question, getting

btcapital

I know this is getting a bit old – but the second question on Sample 2 contained an error. Twice during this item set the sample question is as follows (I quote directly from my screen prints):
BASED ON THE RESULTS IN EXHIBIT 1, DOES MULLOTH’S ANALYSIS SHOW THAT HE IS MOST LIKELY RECEIVING SUFFICIENT SPREAD ON THE GINNIE MAE 5.5% MORTGAGE AFTER HEDGING COSTS?
I have no problem with them asking the exact identical question twice – except that the first time the guideline answer is NO, and the second time it’s YES!. I believe that the intention on the first question was to ask something else altogether based on the guideline answer.
I really don’t want to be a CFAI - hater, but the error rate is getting a bit high around here. When they say nobody ever got 100% on a CFA exam, I didn’t know they included the test-writer.
And, yes, in case you were wondering, this flub did prevent me from officially (though not technically) tying McLeod’s outstanding sample score of 97%. Now I’m forced to take Sample 3. Urgh.

Londonrocks

I had a lot of trouble understanding this question. Can you explain what they mean by “sufficent spread” and how you would calculate/interpret what it would be?

smuggycfa

last year they had more errors in the sample…………
this year they are better/