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Some of the questions this quarter on perpetuities and CAPM (Capital Asset Pricing Model) might look worthy of the Institute of Actuaries, but understanding the theory does help make sense of current market news. Accounting for cash, financial instruments and pensions also feature – reflective of the pace of developments from the IASB. Finally the question on the Basle III capital proposals, including the worked answer does help clarify just what will be changing. Again we hope it makes for interesting reading irrespective of whether you are using the quiz as a test.