Real Life Quant Application single, together, passing, success

richer

Wouldn't it make the exam more interesting if the actual exam questions were like this?


If the probability that a candidate passes level I, II, and III is 39%, 41%, 49% respectively, what is the probability that a single candidate passes all three levels on the first attempt?


What is the NPV for a candidate attaining the CFA designation if the probability of success is 39%, 41%, and 49% for passing all three levels. Assume each exam and Supplementary notes together cost $1500 per year and the candidate expects a $40,000 pay raise if the designation were to be obtained.


I kept wishing for these types of questions to show up on the exam...