I just attempted Subject 201 April 2003 Q1 under exam conditions as practice. Whilst it's not a difficult question, I still found some differences between my answer and the sample solution in terms of content & approach. I seek opinions on whether I was thinking along the right track on the following areas [Warning: spoiler on this question for those who plan to but haven't attempted yet]: a) In my answer I stated the number of renewals only (i.e. 500 & 275) and did not mention 50% or 55%. My reasoning: it's not necessary since the rates came from the manager himself/herself. The result is I feel it's easier for a layman but I stand corrected. However, the sample solution contains details on the rates. I'm wondering whether I lose marks for lack of details albeit more straight forward reading. b) I did not state what Alternative 1 or 2 is like the sample solution for the same reason as above. Do I lose marks for lack of details? If the manager came up with the proposal, surely he/she would know it and doesnt need a recap of it. c) Profits: In addition to the absolute profit of GBP90,750, I mentioned profit as a % of revenue. IMO,it gives a clear picture than absolute profits. Do I get penalised for this? The question mentions 'profit (before overhead)' which is a little subjective. Thank you in advance.
