标题: Rounding of Number of Futures Contracts [打印本页] 作者: pawn 时间: 2011-7-11 19:23 标题: Rounding of Number of Futures Contracts
CFAI Volume 4, Reading 30, Page 157, Question 2
The calculation in the answer has the number of futures contracts to buy as 119.69, but rounds DOWN to 119.
Is this a convention for futures contracts, or a mistake?作者: aidebaobao 时间: 2011-7-11 19:23
Almost positive it's not a convention. Most likely a rounding error. On the test, I figure if I'm that close, I'm correct. I don't think a grader will ding you for that on the morning session, nor will you have to choose between 119 and 120 on a multiple choice question.
Just my $0.02.作者: Unforseen 时间: 2011-7-11 19:23
Ah no, you definitely have to round futures as they can`t be bought or sold fractionally. Round to the closest whole number. u WILL lose points.作者: liangfeng 时间: 2011-7-11 19:23
It must be an error, because rounding to 120 introduces less tracking error.
Edited 1 time(s). Last edit at Saturday, May 14, 2011 at 07:25AM by jinstudy.作者: justin88 时间: 2011-7-11 19:23
I had scribbled on there too "round to 120?! no?"
Looking back, the question is as king "Approximate" number of contracts, so we should be okay with either 119 or 200, both are approximate.
Hrrmph...indistinct mumble... approximate my foot
Edited 1 time(s). Last edit at Saturday, May 14, 2011 at 09:57AM by jbaphna.作者: ohai 时间: 2011-7-11 19:23
Maybe CFAI rounds down and Schweser rounds up?
Or CFAI doesn't like to commit extra cash and Schweser has no problem with that, when it is rounding up ?
Edited 1 time(s). Last edit at Sunday, May 15, 2011 at 11:02PM by janakisri.
