FNCE30001 Investments
Mid-Semester Exam S1 2021
The mid-semester exam has two sections: 10 multiple-choice questions, 10 numeric-
answer questions. I recommend that you have Excel/Google Sheets readily available, as
well as paper and a pencil/pen.
The exam will be open from 13:15 to 15:00 on Monday and 16:30 to 18:15 on Wednesday.
You may start at any time, but you must submit your answers either within 75 minutes or
before the end time (15:00 or 18:15), whichever is earlier.
Particularly those in the Monday stream: As tempting as it may be, do not share or
redistribute your exam. I don’t think this requires any further explanation.

Cover Page
1) This test is open book, but it is individual work. All submitted answers will be
investigated for instances of cheating. Exam questions are randomly generated such that
each exam is uniquely identified. Your exam is not to be shared with any other
person/website/party.
2) The exam is designed to be finished in a 60-minute period, but you have 75 minutes
to complete it and hit the "Submit Quiz" button at the bottom of the quiz. You will have 75
min or until [15:00 (Monday) or 18:15 (Wednesday)], whichever is earlier.
3) Once you click on "Submit Quiz" your test is complete, you will not be able to return to
the Mid-Semester Test.
4) For multiple choice questions, please choose the "best" or most correct answer.
5) For numeric-answer questions, please avoid rounding intermediate steps. If you must
round intermediate steps, do not round by fewer than 5 decimal places. When answering
numeric questions round to 4 decimal places.
6) All answers, including returns and standard deviations, should be in raw decimal
form. For example, if you buy a stock for \$12 and the price goes up to \$13. The return is
(13-12)/12=0.0833333333333333. The answer in "raw decimal form” is 0.0833, not
8.3333.
7) Nearly all numeric-free-answer questions have randomly generated numeric data
(which will uniquely identify your paper). This means answers may not be as pretty or
elegant as you are used to. Try not to let the lack of pretty numbers unsettle you.
Top of Exam

Middle of Exam, start of the Numeric Answer section