If the Level II CFA exam were given as an oral exam, 95% of the candidates would fail. Why? Because they cannot pronounce heteroscedasticity correctly (<het-ter-row-ski-das-tis-sit-ee>, eight syllables), and they cannot pronounce Modigliani correctly (moe-dill-yaw-nee>, four syllables). Fortunately for most Level II candidates, it’s a written exam. Messrs. Modigliani and Miller (M&M) studied corporate capital structure, for […]
This article is for members only. You can become a member now by purchasing a
This will give you access to this and all other articles at that membership level.