giorgio10

DB-

I'm doing this as best I can from memory, so cut me some slack. Accomodations and travel can indeed be accepted, but it must be REASONABLE and not excessive. Unfortunately, as you mention, the CFAI text isn't super concrete as to what this means.

The Schweser examples stressed that the most common way of delineating 'reasonable' from 'excessive' was the fact that the analyst was headed to an area that was remote and the lodgings were a budget hotel type of place.

Luckily, for every mock, Qbank, and CFAI text question I encountered on this was pretty cut and dried. Going to Dead Raccoon, Michigan and staying in "Ye Olde Budget Motel"? FINE BY CFAI, LIVE IT UP AND ORDER ROOM SERVICE. Going to Tokyo and staying at the Ritz? NO COMP FOR YOU.