- CFA Exams
- CFA Exam: Level I 2021
- Study Session 2. Quantitative Methods (1)
- Reading 8. Probability Concepts
- Subject 1. Introduction

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**CFA Practice Question**

The probability of correctly answering a multiple-choice question with four possible answers by guessing is an example of which type of probability?

B. classical or priori

C. subjective

A. relative frequency or empirical

B. classical or priori

C. subjective

Correct Answer: B

The correct answer is classical or a priori since the probability can be determined by considering equally likely outcomes to the experiment.

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**User Contributed Comments**
3

User |
Comment |
---|---|

bdoggprod |
I used a priori on this question!! |

poomie83 |
Thats classic |

johntan1979 |
MCQ is always objective, never subjective, and cannot be historical, hence B. |