EXAM: Midterm Exam

Read all of the instructions carefully before taking this exam. 

Objective

The midterm exam will assess your mastery of the material covered in the readings, pre-recorded lectures, notes and Live Sessions.

Format

This exam has two sections:

• Multiple Choice
  • Select the best answer for each of the questions.
  • Each item is worth two points.
• Problems
  •  Problems 1-4 each require the use of Excel.
  • Problem 5 may be solved in Excel, but doesn’t have to be.
  • For this section of the exam, you will upload two files.
    • In one question, you will upload your Answers 
    • In the next question, you will upload your Excel file
    • For Problem 3 (Estimating Beta), you should use absolute returns, you do not need to use excess returns (you do not need to subtract Rf from your returns).
    • For Problem 4 (Three Factor Model), you will need to use Fama/French data. You will find it at this website

You must clearly show your final answers and any basic math work. You should have all your work on a single Excel file with multiple worksheets that are clearly titled so that I will know which problems each sheet refers to. Any answers you put on the exam must be supported either by work shown on the exam or on the spreadsheet. 

You do not need to show your work for any of the multiple choice problems.

Please hold on to your Excel file until after I have graded your exams in case I have a question about something. For all monetary answers, please carry out your final answer to the nearest cent. For all percentage answers, please carry out your final answer to the nearest basis point.

Instructions

• This exam is time sensitive; i.e., once you start you will have four hours to complete the exam before the system ends the exam automatically.
• If you purposefully or inadvertently close the exam window, you may re-enter by clicking the "Resume Quiz" button. Your answers will be saved automatically,  but note that the timer will continue to countdown to zero and automatically submit your exam when the provided time runs out.
• You will only have one attempt for this exam (i.e. there will not be an opportunity to re-take it and improve your score).  
• The exam should be submitted before 11:59 pm CT on Sunday.

Academic integrity

• You may refer to your textbooks, any notes you took for this class and any resources I provided you with while you take this exam.
• You may not contact anyone while taking this exam.
• You may not use the internet while taking this exam other than to download the price data from Yahoo!Finance.

Good luck!