Does anyone know if you get marked down for not using enough (or too many) decimal places? I’m thinking a strategy of 2dp for everything (except for say FX/forward rates etc.) is probably sufficient?
Yeah, that’s sufficient. The institute doesn’t care about rounding.
I’d tend to agree. However, with AM questions that involve answering a “determine the number of futures contracts that should be bought or sold”, I always write the answer with decimals, then write “round to X”, then write “BUY/SELL X (rounded) futures contracts”. Since you can’t buy or sell a fraction of a futures contract I’d say the extra detail is worth it. Better to be safe than sorry in this case I think.
Agreed.
I’ve decided 3.