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Thank you, razu, you are right. I checked the Stowell example now, i skipped this bad quality size 4 print in the garp book at first go.

On memorizing the formulas: some say that you do not memorize formulas, you understand them and if need to use them, you recall the logic and "rebuild" the formulas.... Well, my method is to stick post its with formulas on them at home, eg. on the bathroom mirror or on the fridge door. It also...

The $180,000 is your initial investment, you buy the shares of company A.

Sure. I am quite surprised that this half page on a vague concept is tested regularly (concept appeared in previous L2 exam as well, just found it in the L2 feedback for Nov 2011;) ) So the purpose of LD is to come up with an estimate for the time (in days) needed to sell an equity portfolio...

After a long search, the reference for "liquidity" duration is: chapter 17 of Modern Investment Management: An Equilibrium Approach, by Rosengarten and Zangari. The authors also use the term in quotation marks...

Thank you very much, Suzanne, a very pleasant surprise. Could I have the Itunes gift card, please. Thanks again!

Dear Suzanne, It is true customer service that you are providing! What was the pass rate among your customers? Thanks, vallerano

Thank you for all of you who answered on this.

it is in thread no. 45 as well, arbitrage-free fwd price, i also chose 109 as this was the closest but that is clearly not arbitrage-free....

Yes, agreed, my only chance for passing is that Aleks IS an outlier when garp scores :) Any answer for the arbitrage-free futures price? As the answers were rounded, none of them were arbitrage-free... or did I miss anything?

I think the test questions were rather similar to David's practice questions (but not a notch more difficult) and especially similar to his mock exam, ... no straigthforward formula usage but with some extra twist (which someone earlier noted). There were at least 2 theoretical questions which...

Yes, you are right, there are some questions exactly the same in the various practice exams provided by gaarp. Would have been better if there are no overlaps...