In the Yardeni model, I think of the coefficient d as a weighting factor for long term earnings growth (LTEG). The market assigns a weighting factor to earnings projections based on the likelihood that the earnings growth is to occur. The CFAI text in Reading 17 Equity Market Valuation (pages 148-149) states that d can be solved for in the Yardeni model using historical values. Historical averages assign a value of approximately 0.10 to d. For the exam, I imagine we’ll be provided with a value for d or, if we’re not provided with a value, we’ll use the historical average of 0.10.
Hope this helps!
OMGMileyCyrus