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I apologize, I missed that. I guess my brain is still mush lol.

That is the probability of an upstep, the probability of a downstep is 1 - Probability of Up.

makes sense. Thanks. This exam tested conceptual knowledge much more than I expected.

Did anyone else have issues with the BSM question where the specified the d1 and the chance of exercise? I could not get my math to work.

Thank you, David. I understand now. Sorry for the confusion.

So, to clarify, BSM for a European Call should read: C = Se^(-q(e^-r*t)*t)*N(d1) - K(e(-r*t))*N(d2) Correct? Thanks,

That is unfortunate but if I remember what the rather "harsh" sounding woman said, I believe that failure to fill out the second bubble could cause a delay in your test being scored. I hope that is the case.

Yeah, the one-step binomial as question 100 seemed like a cruel punishment for those with time management issues. Not hard but time consuming lol. I am not too confident in my performance. I ran out of time and realized that I was not as prepared as I wanted to be. I think I focused too much...