Quote:
Originally Posted by BadNewsRef
But in the OP the horn has sounded. At least that is how I read the scenario.
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Yup, that's how
you read the scenario. But does it definitively state that the horn actually did sound?
All I can tell you that I have seen this question on several previous FED exams and it has always been there as a reference to the case play that I cited. That ain't to say that someone writing the test in the future could make up something similar with vague info and have it refer to the lag time rules instead.