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{"sheet":"Marks","index":0,"n_rows":52,"n_cols":29,"rows_kept":52,"cut":false,"hidden":true,"merged":[[5,3,5,10],[6,3,6,10],[8,2,8,14]]}
["SUBJECT CAA Module 5",null,null,"May 2018 exam",null,null,null,null,null,"Assignment No :",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Count","% total"]
["Scripts base path",null,"F:\\CAA Module 5\\May 2018\\Sorted",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"MAX",{"$f":"MAX(X13:X52)","v":0},null,"F","<55",{"$f":"COUNTIF($X$13:$X$52,\"<\"&55)","v":0},{"$f":"IF($AB$7>0,AB2/$AB$7,\"N/A\")","v":"N/A"}]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"MIN",{"$f":"MIN(X13:X52)","v":0},null,"BL/F","<59",{"$f":"COUNTIF($X$13:$X$52,\"<\"&59)-SUM(AB2:AB2)","v":0},"N/A"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"AVE",{"$f":"IF( AB7 > 0,  AVERAGE(X13:X52),  0)","v":0},null,"BL","59-61",{"$f":"COUNTIF($X$13:$X$52,\"<\"&61)-SUM(AB2:AB3)","v":0},"N/A"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"BL/P",">61",{"$f":"COUNTIF($X$13:$X$52,\"<\"&65)-SUM(AB2:AB4)","v":0},"N/A"]
[null,"RESULTS :",null,"Type results date here",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"P",">65",{"$f":"COUNTIF($X$13:$X$52,\"<\"&100)-SUM(AB2:AB5)","v":0},"N/A"]
[null,"ASSISTANT EXAMINER :",null,"Type name here",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Σ",null,{"$f":"SUM(AB2:AB6)","v":0},"N/A"]
[]
[null,null,"MODELLING",null,null,null,null,null,null,null,null,null,null,null,null,null,"AUDIT TRAIL",null,null,null,null,null,null,"Total",null," "]
[null,"Aspect :","I","II","III","IV","V","VI","VII","VIII","IX","X","XI",null,"Total","Fellow Analyst student can review, check & modify the model","Written in clear English","Written in a logical order","All model steps accurately covered","All check clearly recorded","All steps clearly explained","Clear signposting & labelling","Total"]
[null,"Max Marks :",2,9,3,3,2,4,2,3,8,2,3,null,{"$f":"SUM(C11:N11)","v":41},8,5,3,20,8,8,7,{"$f":"SUM(P11:V11)","v":59},{"$f":"O11+W11","v":100}]
[null,"ARN"]
[1]
[{"$f":"A13+1","v":2}]
[{"$f":"A14+1","v":3}]
[4]
[5]
[6]
[7]
[8]
[9]
[10]
[11]
[12]
[13]
[14]
[15]
[16]
[17]
[18]
[19]
[20]
[21]
[22]
[23]
[24]
[25]
[26]
[27]
[28]
[29]
[30]
[31]
[32]
[33]
[34]
[35]
[36]
[37]
[38]
[39]
[40]

{"sheet":"TEMPLATE","index":1,"n_rows":167,"n_cols":13,"rows_kept":167,"cut":false,"hidden":false,"merged":[]}
[" ","CAA Module 119",null,null,null,"Part 1",{"$f":"part1","v":42},{"$f":"C5","v":"of 42"}]
[null,"ARN :",{"$f":"MID(CELL(\"filename\",C2),FIND(\"]\",CELL(\"filename\",C2))+1,LEN(CELL(\"filename\",C2)))","v":"TEMPLATE"},null,null,"Part 2",{"$f":"part2","v":58},"out of 58"]
[null,"Go to Marks sheet",null,null,null,"TOTAL",{"$f":"G1+G2","v":100},"out of 100"]
[]
[null,{"$f":"i+ii+iii+iv+v+vi+vii+viii+ix+x+reasonableness_checks","v":42},"of 42","PART 1"]
[null,null,null,null,null,null,null,null,null,null,null,null,1]
[null,null,null,null,null,null,null,null,null,null,null,null,0.5]
[null,{"$f":"MIN(SUM(B9:B10),2)","v":2},null,"PART (i) (max 2)",null,null,null,null,null,null,null,null,0]
[null,1,1,"Spreadsheet has separate worksheets for parameters and calculations",null,null,null,null,null,null,null,null,0.5]
[null,1,1,"All worksheets have meaningful/sensible titles",null,null,null,null,null,null,null,null,1]
[null,null,null,null,null,null,null,null,null,null,null,null,1.5]
[null,{"$f":"MIN(SUM(B13:B20),5)","v":5},null,"PART (ii) (max 5)",null,null,null,null,null,null,null,null,2]
[null,2,2,"Check there are 20 data points for each type of data"]
[null,1,1,"Check outstanding loan < original loan"]
[null,1,1,"Check outstanding term < original term"]
[null,1,1,"Check currency is either GBP or USD"]
[null,1,1,"Check maximum/minimum loan amounts are reasonable"]
[null,1,1,"Check maximum/minimum terms are reasonable"]
[null,1,1,"Any other valid check"]
[]
[]
[null,{"$f":"MIN(SUM(B23:B26),4)","v":4},null,"PART (iii) (max 4)"]
[null,1,1,"Maximum calculated correctly for USD and GBP (286,100 and 500,000)"]
[null,1,1,"Minimum calculated correctly for USD and GBP (74,000 and 65,000)"]
[null,2,2,"Mean calculated correctly for USD and GBP (151,080 and 290,000) (max 1 mark if median calculated instead of mean)"]
[]
[]
[null,{"$f":"MIN(SUM(B29:B32),3)","v":3},null,"PART (iv) (max 3)"]
[null,1,1,"Correct data plotted on chart"]
[null,1,1,"Suitable chart type used (e.g. clustered column chart)"]
[null,1,1,"Chart has title and axes labels"]
[]
[]
[null,{"$f":"MIN(4,SUM(B35:B38))","v":4},null,"PART (v) (max 4)"]
[null,1,1,"Loan amounts for company A, B and C identified as parameters"]
[null,1,1,"Loan terms for company A, B and C identified as parameters"]
[null,1,1,"Loan interest rates for company A, B and C identified as parameters"]
[null,1,1,"Loan discount rate for company A, B and C identified as parameters"]
[]
[null,{"$f":"MIN(5,SUM(B41:B44))","v":5},null,"PART (vi) (max 5)"]
[null,1,1,"Cashflows calculated separately for each of company A, B and C"]
[null,1,1,"Cashflows calculated separately for each future year up to year 35"]
[null,1,1,"Allowance has been made for default risk correctly (no allowance for first cashflow, all other cashflows multiplied by 99.5%)"]
[null,2,2,"All cashflows are correct"]
[]
[null,{"$f":"MIN(4,SUM(B47:B50))","v":4},null,"PART (vii) (max 4)"]
[null,1,1,"Discount factors calculated separately for company A, B and C"]
[null,1,1,"PV of each future cashflow calculated at discount factor * cashflow"]
[null,1,1,"Calculation of NPV subtracts initial loan amount"]
[null,1,1,"Correct NPV calculated (32,059, 67,484 and 102,824 for company A, B and C respectively)"]
[]
[null,{"$f":"MIN(5,SUM(B53:B57))","v":5},null,"PART (viii) (max 5)"]
[null,1,1,"Same cashflows used as for NPV calculation"]
[null,1,1,"Discount factors calculated separately for company A, B and C using IRR"]
[null,1,1,"NPV = 0 for each company"]
[null,2,2,"Correct IRR calculated (4.12%, 5.23% and 6.35% for company A, B and C respectively)"]
[]
[]
[null,{"$f":"MIN(3,SUM(B60:B63))","v":3},null,"PART (ix) (max 3)"]
[null,1,1,"Table contains all required data (term, interest rate, NPV and IRR for each company)"]
[null,1,1,"NPV has been rounded to nearest thousand"]
[null,1,1,"IRR has been presented to no more than two decimal places (e.g. 4.17%)"]
[]
[]
[null,{"$f":"MIN(SUM(B66:B68),3)","v":3},null,"PART (x) (max 3)"]
[null,1,1,"Correct data plotted on chart"]
[null,1,1,"Suitable chart type used (e.g. column chart)"]
[null,1,1,"Chart has title and axes labels"]
[]
[null,{"$f":"MIN(4,SUM(B71:B80))","v":4},null,"Reasonableness checks (max 4)"]
[null,1,1,"Check count of loans on 'data statistics' sheet = 20"]
[null,1,1,"Check count of USD and GBP loans in sorted data matched unsorted data"]
[null,1,1,"Check mean over all loans looks reasonable compared to USD mean and GBP mean"]
[null,1,1,"Check USD and GBP max/min are less/more than overall max/min"]
[null,1,1,"Check sum of cashflows for company B > sum for company A, and for C > B."]
[null,1,1,"Check discount factors decrease over time"]
[null,1,1,"Check total cashflows on 'IRR' sheet match those on 'NPV' sheet"]
[null,1,1,"Check calculated IRR > discount rate for each company"]
[null,1,1,"Check NPV = 0 on 'IRR' sheet"]
[null,1,1,"Any other distinct, valid check"]
[]
[null,{"$f":"audit_approach+audit_content","v":58},"of 58","PART 2"]
[]
[null,{"$f":"B86+B94+B99","v":15},"of 15","Audit Approach"]
[]
[null,{"$f":"MIN(8,SUM(B87:B92))","v":8},"of 8","Fellow Analyst student can review, check and modify the model"]
[null,2,2,"For a newcomer, the calculations are easy to follow i.e. the marker does not have to look at the audit trail to understand what has been done"]
[null,1,1,"All the steps are correctly and clearly described"]
[null,1,1,"There is sufficient technical detail"]
[null,2,2,"The workbook is well labelled and is easy to navigate through"]
[null,1,1,"Where there are, or could be errors, the audit trail would enable the student to identify and correct errors"]
[null,1,1,"Danger areas in the spreadsheet are appropriately flagged (e.g. goal seek, formulae that don't copy down) "]
[]
[null,{"$f":"MIN(4,SUM(B95:B97))","v":4},"of 4","Written in clear English"]
[null,2,2,"The audit trail is written in clear, crisp and flowing English"]
[null,1,1,"Accurate spelling"]
[null,1,1,"The audit trail is laid out well, with good formatting to aid clarity"]
[]
[null,{"$f":"MIN(3,SUM(B100:B102))","v":3},"of 3","Written in a logical order"]
[null,1,1,"Data is not introduced before referring to it"]
[null,1,1,"Assumptions are stated before using them"]
[null,1,1,"The methodology is described in a logical order i.e. nothing is introduced which would require that the reader has read ahead"]
[]
[]
[null,{"$f":"B107+B127+B146+B155","v":43},"of 43","Audit Content"]
[]
[null,{"$f":"MIN(21,SUM(B108:B125))","v":21},"of 21","All model steps  accurately covered (1 or 2 each, max of 21)"]
[null,2,2,"Overview"]
[null,2,2,"Description of the data used, including source"]
[null,1,1,"Clear statement that no changes have been made to the data"]
[null,2,2,"Description of calculation of max/min/mean loan amounts"]
[null,1,1,"Description of how calculations performed separately for GBP and USD loans"]
[null,2,2,"Clear reporting of which numbers are plotted in the chart and type of chart used"]
[null,1,1,"List of parameters used (loan amounts, loan terms, loan interest rates, loan discount rates)"]
[null,1,1,"Description of how the cashflows were calculated for calculating NPV"]
[null,1,1,"Description of how the discounting was applied"]
[null,1,1,"Description of how the NPV was calculated"]
[null,1,1,"Statement that same cashflows are used to calculate IRR"]
[null,2,2,"Description of how the IRR was calculated"]
[null,1,1,"Statement that NPV equals zero when IRR used as discount rate"]
[null,1,1,"Description of how table of results was created (showing term, interest rate, rounded NPV and IRR)"]
[null,1,1,"Description of how NPV was rounded for table"]
[null,2,2,"Clear reporting of which numbers are plotted in the chart and type of chart used"]
[null,2,2,"Any other useful description"]
[]
[]
[null,{"$f":"MIN(8,SUM(B128:B144))","v":8},"of 8","All checks clearly recorded / described"]
[null,null,null,"(1 each - maximum of 8)"]
[null,1,1,"Description of the check that there are 20 data points"]
[null,1,1,"Confirmation that there are no blank entries"]
[null,1,1,"Max/min exam loan amounts look reasonable"]
[null,1,1,"Max/min exam terms look reasonable"]
[null,1,1,"Valid entries (GBP/USD) in currency range"]
[null,1,1,"Description of check that data on data statistics sheet matches that on data sheet"]
[null,1,1,"Max/min for GBP/USD looks reasonable compared to max/min overall"]
[null,1,1,"Mean for GBP/USD looks reasonable compared to mean overall"]
[null,1,1,"Description of check that there are no cashflows after maturity date"]
[null,1,1,"Description of check that discount factors decrease over time"]
[null,1,1,"Description of any spot checks performed"]
[null,1,1,"Description of check that cashflows on IRR calculations sheet matches those on NPV calculations sheet"]
[null,1,1,"Description of check that calculated IRR is greater than discount rate"]
[null,1,1,"Description of check that NPV is zero when using IRR as discount rate"]
[null,2,2,"Description of any other valid check performed"]
[]
[]
[null,{"$f":"MIN(8,SUM(B147:B153))","v":8},"of 8","All steps clearly explained"]
[null,1,1,"The level of detail in the audit trail is appropriate for a newcomer to understand what has been done"]
[null,2,2,"All the methodology steps are set out clearly"]
[null,2,2,"Data source and format is described adequately and clearly."]
[null,1,1,"All reasonableness checks applied are adequately documented"]
[null,1,1,"Areas where manual intervention or caution is required are well flagged within the audit trail (eg goalseeks or non-standard model areas)"]
[null,1,1,"The marker does not need to look directly at the model to understand what has been performed"]
[]
[]
[null,{"$f":"MIN(6,SUM(B156:B161))","v":6},"of 6","Clear signposting/labelling"]
[null,1,1,"The audit trail allows the user to follow the model through"]
[null,2,2,"The audit trail allows the user to understand each calculation easily"]
[null,1,1,"There is adequate signposting in the audit trail to describe the purpose of each tab"]
[null,1,1,"There is adequate signposting in the audit trail to describe the general direction of the model"]
[null,1,1,"There is adequate signposting of named ranges and parameters"]
[null,1,1,"Model labelling (e.g. sheet names) is consistent with the audit trail "]
[]
[]
[null,"Overall Marks & P/F Assessment"]
[]
[null,null,"Total Marks:",{"$f":"part1+part2","v":100},{"$f":"D166/100","v":1}]
[null,null,null,{"$f":"D166=P1_TOTAL","v":true}]