SPECIFIC GUIDANCE OF AFC EXAMINATION AND STUDY MATERIAL FOR WINTER 2021 September 17, 2021 EXAMS GUIDANCE AFC-04 Introduction to Information Technology Content Guidance Operating System- Microsoft Windows Examinable version “Windows 10” Microsoft Excel Microsoft Word Microsoft PowerPoint Examinable version “2016” Please note that any examination questions that have different answers based on earlier versions of MS Office will be assessed on the basis of 2016 version of MS Office. Exam Notice: Page ii of the study text There is no change in the syllabus, learning outcomes and exam pattern. Please consider the exam note deleted. Chapter 15 - Useful keyboard shortcuts There is no change in the syllabus, learning outcomes or exam pattern. The useful shortcuts have only been included in the study text for students’ learning only and are not examinable. However, Shortcuts covered in all other chapters shall be examinable. Permission to use "HELP" or “F1” With the office version 2016, Office Help is only available online. Since access to internet cannot be provided to students, therefore, Office Help will NOT be available for the examinations.
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SPECIFIC GUIDANCE OF AFC EXAMINATION AND STUDY MATERIAL FOR
WINTER 2021 September 17, 2021
EXAMS GUIDANCE
AFC-04 Introduction to Information Technology
Content Guidance Operating System- Microsoft Windows
Examinable version “Windows 10”
Microsoft Excel
Microsoft Word
Microsoft PowerPoint
Examinable version “2016”
Please note that any examination questions that have different answers based on earlier versions of MS Office will be assessed on the basis of 2016 version of MS Office.
Exam Notice: Page ii of the study text
There is no change in the syllabus, learning outcomes and exam pattern. Please consider the exam note deleted.
Chapter 15 - Useful keyboard shortcuts
There is no change in the syllabus, learning outcomes or exam pattern. The useful shortcuts have only been included in the study text for students’ learning only and are not examinable. However, Shortcuts covered in all other chapters shall be examinable.
Permission to use "HELP" or “F1”
With the office version 2016, Office Help is only available online. Since access to internet cannot be provided to students, therefore, Office Help will NOT be available for the examinations.
SPECIFIC GUIDANCE OF AFC EXAMINATION AND STUDY MATERIAL FOR
WINTER 2021 September 17, 2021
STUDY MATERIAL GUIDANCE AFC-03 Quantitative Methods
Reference Issue Guidance
Chapter 2: Coordinate system and equations of a straight line: Self-Test Question 2.15 Page 30
The question should be read as follows: A person invests Rs. 200,000 for 4 years at an interest rate of 8% compounded semi-annually. What is the total interest received from this investment?
Chapter 5: Financial Mathematics: Compounding Formula: Future Value
of Annuity
Page 96
Typing error in Illustration:
Annuities
The statement for ‘Annuity due’ should be
read as:
“The payments to service the loan would
start on 1 January 2013 with the last
payment on 1 January 2017”
Chapter 5: Financial Mathematics: Compounding Formula: Future Value of Annuity Page 96
Formatting error in the formula
for Ordinary Annuity and Annuity
due
Formula for Ordinary Annuity and Annuity
due can be read as
𝑆𝑛 = 𝑋 [(1 + 𝑟)𝑛 − 1
𝑟]
𝑆𝑛 = 𝑋(1 + 𝑟) [(1 + 𝑟)𝑛 − 1
𝑟]
SPECIFIC GUIDANCE OF AFC EXAMINATION AND STUDY MATERIAL FOR
WINTER 2021 September 17, 2021
Reference Issue Guidance
Chapter 5: Financial Mathematics: Compounding Solution to Practice
Questions 2 (1)
Page 99
The solution to Practice Question
2 (1) requires slight correction at
step 2 which is as follow:
Sn = 100,000 × 2.1589 = Rs. 215,892
Correct step should be: Sn = 100,000 × 2.1589 = Rs. 215,890
Chapter 5: Financial Mathematics: Compounding Formula: Future Value
of Annuity
Practice Questions 2 (2)
Page 99
The solution to Practice
Questions 2 (2) is incomplete
The solution requires correction in existing
steps and an additional step. Complete
corrected solution is as follows:
Sn = 60,000 × 1.066
Sn = 60,000 × 1.419 = Rs. 85,140
Total interest earned=Rs. 85,140 - Rs. 60,000
=Rs. 25,140
Chapter 5: Financial Mathematics: Compounding Formula: Future Value
Chapter 13: Regression and correlation: Self-Test Questions 13.26 Page 309
There is a typing error in answer
option ‘(c)’.
Answer option “(c)” should be corrected as:
“-1 to +1” instead of “1- to +1”
Appendix A Present Value Table Page 448
Typing error for discount factor
at 5%, 1 period which is written
as “.962”
discount factor at 5%, 1 period should be
corrected as “.952”
2.1 Significance testing Examples and Practice Question Pages 423, 424, 425 & 432
The formula in the study text for calculating z-score is incorrect.
The formula should be as under:
Z = 𝑋 ̅̅ ̅−𝜇 σ
√𝒏
Solutions to example and practice question
available at these pages should be read as
under:
Example (pg 423)
Number of standard errors between the sample mean and the asserted mean (Z value):
𝑧 𝑠𝑐𝑜𝑟𝑒 = �̅� −
𝜎�̅�
=450 − 460
2.5= −4
The sample mean is beyond -1.96 standard errors of the mean.
Therefore, the null hypothesis should be rejected.
Example (pg. 424)
Number of standard errors between the sample mean and the asserted mean (Z value):
𝑧 𝑠𝑐𝑜𝑟𝑒 = �̅� −
𝜎�̅�
=52 − 50
1.5= 1.33
The sample mean is within 1.96 standard errors of the mean.
There is no evidence that the null hypothesis should be rejected.
Example (pg. 425)
Number of standard errors between the sample mean and the asserted mean (Z value):
SPECIFIC GUIDANCE OF AFC EXAMINATION AND STUDY MATERIAL FOR
WINTER 2021 September 17, 2021
Reference Issue Guidance
𝑧 𝑠𝑐𝑜𝑟𝑒 = x̅ −
σ=
725 − 700
13= 1.92
The sample mean is beyond 1.65 standard errors of the mean.
The null hypothesis should be rejected. There is evidence that the new technique produces stronger cable.
Practice Question (pg. 432)
Number of standard errors between the sample mean and the asserted mean (Z value):
x̅ = 13 hours and 20 minutes
(in terms of hours it is 13.33)
𝑧 𝑠𝑐𝑜𝑟𝑒 = �̅� −
σ=
13.3333 − 14
0.375= −1.78
The sample mean is within -1.96 standard errors of the mean.
The null hypothesis should be accepted. There is no evidence that the average journey time differs from the transport manager’s assertion.
Self-Test Question 18.26 Page # 436
There is an error in the symbol
“>” in the question.
The question should read as “If n < 30 and
the variance of population is unknown then
the test-statistic for testing mean of
population must be:”
AFC-04 Introduction to Information Technology
Content Issue Guidance
Printers Page 9 -10
Revisions required The last heading of the page i.e. Printers will be read as: Printers can be categorized between impact printers and non-impact printers. Impact printers produce text and images by striking an ink ribbon (e.g. dot matrix printers). Non-impact printers produce images without actually striking the paper. The main types of printer currently used are
Revisions required Text will be read as: 2.1.1 System software Main categories of system software:
Operating system software Utility software
SPECIFIC GUIDANCE OF AFC EXAMINATION AND STUDY MATERIAL FOR
WINTER 2021 September 17, 2021
Communication software Page 14
Revisions required Definition of Communication Software to be added within the application software as follows: 2.1.3 Application software
Off-the-shelf software or software packages…
Bespoke… Communications software controls the
transmission of data within a computer network making it possible to send and receive data over media such as telephone lines and fibre optic cables
Gadgets Page 27
Section on Customizing gadgets stands deleted
Finding downloaded files Page 39
Revisions required Text will be read as: Finding downloaded files When you use Windows Internet Explorer or any other web browser to download a file from the Internet (e.g. a pdf format file of some company accounts that have been posted to the web) it will be saved in Downloads folder unless you select an alternate location to save it. The Download folder is usually located on the drive where Windows is installed (for example, C:\users\your name\downloads).
2.3 Date and time functions Page 145
Typing error Text will be read as = TODAY - Returns the current date = NOW() - Returns the current date and time
Change the height of a row Pg. 87
Revised default row height as per Office 2016.
Row height can be set between 0 and 409 (representing height measurement in points – default is 15 points).
