thommo77

CFAI should really never ask you to "calculate" a return objective. The exam will say "prepare" or "formulate" or "state" the return objectives. Look at the last 3 exams for how they ask the question and what the CFAI answer is. This is how you need to answer the question.

The exam WILL ask you to "calculate" the return requirement.

A key point that gets missed a lot is the difference between an return objective and a return requirement. The return objective is what they will use the portfolio for. The return requirement is what they need to earn in order to accomplish the objective.