I don’t understand the explanation provided for the correct answer. They say that after 2010, a carve-out must include their own cash balance in order to be compliant but it should like that is exactly what the vignette is describing. Thoughts?
can anyone comment on this? This is with regards to the 2018 CFAI Mock Text PM btw.
Also for problem 60 on the same test, I believe that the the discussion points in the answer for A and C are switched. And for choice B, if it is required then it is not an error. What do folks who attempted this problem think? I selected B for this but the correct answer is A. I’m sure I am missing something but I’m very confused by the response. I emailed CFAI to ask about this but they are taking forever to get back to me.
Any help would be appreciated.
bump