Default Level of Significance in Regression and Time Series Anslysis

ayodayo

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If the question does not state the applicable level of significance when asking about tesing whether a coefficient or model is statistically significant, what default level do we use? The 5% level of significance has been the most commonly used but just wanted to be sure that’s the one to use. Has anyone else encountered this?
 
I have never encountered this in CFA text, Schweser text, or on the CFA exam. The question always states the level of significance.
 
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