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Basic Question 1 of 3
Which sector has the most flexible life cycle?
B. Energy
C. Livestock
A. Precious and Industrial Metals
B. Energy
C. Livestock
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I passed! I did not get a chance to tell you before the exam - but your site was excellent. I will definitely take it next year for Level II.

Tamara Schultz
Learning Outcome Statements
contrast the valuation of commodities with the valuation of equities and bonds;
CFA® 2025 Level II Curriculum, Volume 5, Module 33.