55 questions midterm on canvas
given 120 minutes
Have to join zoom call along while taking the exam
@ Chrome File Edit View History Bookmarks Profiles Tab Window Help 49% @) = EE MonMar13 7:03:31PM Q @ = Case 6 Tax I X 127E1 Ed of Mail - Joban X Inbox - jobar X Canl Pay So X = ACCTG 6610 X C Chegg Searc X * Search Resu X (CG) finance 636! X + C ( @& utah.instructure.com a fh xv @ BR » O@ U of U Canvas CIS The University of... David Eccles Scho... Marriott Library Gmail © Outlook Email Google Drive |& Google Docs [MM Google Slides Slack | homework... FINAN 6360-090 Spring 2023 > Quizzes > [Exam] FINAN 6360 Midterm $e) Spring 2023 iS Home [Exam] FINAN 6360 Midterm Due Mar 15 at 8pm Points 48 Questions 55 Announcements . L. Available Mar 15 at 6pm - Mar 15 at 8:05pm 2 hours and 5 minutes Time Limit 120 Minutes Syllabus Modules . This quiz is locked until Mar 15 at 6pm. People AR [E) Assignments o Grades « Previous Next » Zoom Course Feedback Bookshelf Oli NE WN YON 3 1~ IEOTE COE ERG Ten 1 1 FINAN 6360 Syllabus Portfolio Investments FINAN 6360 | Spring 2023 CONTACT Professor: Robert Dubil Office: Virtual on Zoom E-mail:
[email protected] Office Hours: Wednesdays at 6:00 p.m.–6:55 p.m. via Zoom (see Canvas for dates) COURSE DESCRIPTION Success in investing does not rely on access to hot stock tips or a get-rich-quick trading scheme. If that is why you enrolled in my course, you will be disappointed. Success in investing comes from the deep understanding of the probabilistic risk/return tradeoffs in all investment asset classes: equities, fixed income, real estate, etc. The course is an overview of investing fundamentals. In equities, we study the theory of portfolio diversification and asset allocation used by passive investors. You deepen your understanding of the theory through an Excel CAPM project. We learn the discounted cash flow valuation used in active investing. We study the organization of stock markets and order entry. In fixed income, we study price and yield calculations, bond types, and the duration approach to managing interest rate risk. Using the learned asset allocation fundamentals, and through additional research, you will prepare a financial plan for your life. The course ends with an introduction to options. COURSE MATERIALS Required Text: Bodie Kane Marcus, Essentials of Investments, 11th Ed. (978-1260013924) Recommended: WSJ semester subscription: https://r.wsj.com/PROF1ub1 The textbook provides the theory and introduces you to solution methods. The lecture videos review the theory and guide you step-by-step through the solution to Homework Part A. Then you complete Homework Part B on your own to reinforce your learning. While you must master the technical details, you must also learn the deep philosophy of investing. WEEKLY OPENING TIMES Our weeks run Thursday to Wednesday. Each week’s content will be opened one week in advance. You will have until Wednesday at 5:59PM to complete and submit Canvas Homework Part B for the week it is assigned in. Each week will be capped by a live webinar on Wednesday 6pm. mailto:
[email protected] https://r.wsj.com/PROF1ub1 FINAN 6360 | Page 2 GRADING RUBRIC Homework Part B 20% Projects 12% Midterm Exam 34% Final Exam 34% Total: 100% HOMEWORK AND HOW TO STUDY TO SUCCEED There are two types of homework files posted on Canvas for each week. Part A: This is what I review in the week’s lecture video. Each A file has a “What you will learn?” and “Why you should learn this?” heading as well as a “Today’s Story” narrative to guide you through the material. You should review this first as you prepare for the week. Then you should read the assigned textbook reading focusing on a) being able to solve all the problems in the A file by yourself and b) the theory behind each exercise. Then you should watch the lecture video. The A file is designed to serve as a template for your own notes when you watch the lecture. The video contains the solution to the worksheet. The solution is not posted online; I do not want you to focus only on the mechanics. Part B: This is what you will do at home and then enter your answers on Canvas for grading. No late acceptance; Canvas will have a hard cutoff. You may also choose to challenge yourself with end-of-the-chapter problems on your own. PROJECTS You will work on two projects each worth 6% of your grade. 1. CAPM Project You will download stock price data, compute risk/return statistics, create diversified portfolios, estimate portfolio betas, and produce efficient frontier and CAPM graphs. The project requires intermediate proficiency with Excel. Strictly follow the instructions posted on Canvas. You can post questions/intermediate spreadsheets in the CAPM Project discussion board up to one week before the project is due. 2. Financial Plan Project You will produce a written lifetime financial plan for you (and your family). This will require you to do online research into investment allocations and to develop an Excel spreadsheet projecting your income, savings and investments through life. This project will require a lot of time (many hours and days). FINAN 6360 | Page 3 On a first-come/first-serve basis, you can volunteer to have your plan presented during Week 9 Live Session. This will earn you up to 2% of the course grade as participation credit. In order to do that, you need to prepare the spreadsheet driving the plan well in advance, have it approved by me (as complete), and you need to video-record and upload your 10-minute presentation. Everyone else who is not selected for Week 9 will submit their plan as Word document on the due date. LIVE WEBINAR Weekly Q & A webinars will be held on Wednesday evenings at 6:00 to 6:55 PM. Due dates for Homework Part B are Wednesdays at 5:59 PM. Webinars will focus on last questions and discussion, so reading, video and homework assignments need to be completed prior to the webinar. Tips for engaging on Zoom webinars: 1. Sit in a well-lit and quiet place. 2. Unless you’re talking, stay muted to reduce background noise. 3. Keep your video on during the webinar to connect to your instructor and classmates. 4. Be mindful of what’s going on behind you or use a virtual background such as the University of Utah professional virtual backgrounds. Please Note: You may not share, distribute, capture, or download the webinar. This material is subject to the University of Utah's copyright policy that all students previously agreed to, which prohibits unauthorized use and distribution without permission. MIDTERM AND FINAL EXAMS Exams are not simple concept checking tests, but proficiency exams. They check whether you are able to apply all the concepts in real-life situations and logically or numerically determine the complete solution to a problem. The format is somewhat cumulative fill-in-the-blanks at times supplemented by multiple choice concept questions. The exams will draw heavily on the material contained in homework part A and B. The concepts may also come from the lecture videos and the textbook. Exams are closed book/notes. Have blank paper, a pencil and a calculator ready. A link to a blank Excel sheet will be in the exam instructions. Each exam will be open for 2 hours. The exams will be proctored by me via Zoom at 6pm-8pm on specified dates. If you have a U- sanctioned conflict, you are required to schedule a different time to take the exam that same day at a different time; do it now please. DISCUSSION BOARDS I will post investment topics on the discussion board throughout the course. Please share thoughts on the topic and reply to others’ ideas for up to 2% extra credit (based on quality of analysis). If you subscribe to the WSJ, you might be able to come up with your topics to post. https://brand.utah.edu/communications/virtual-meeting-backgrounds/ FINAN 6360 | Page 4 UNIVERSITY OF UTAH POLICIES Americans with Disabilities Act Statement The University of Utah seeks to provide equal access to its programs, services and activities for people with disabilities. If you will need accommodations in the class, reasonable prior notice needs to be given to the Center for Disability Services, 162 Union Building, 581-5020 (V/TDD). CDS will work with you and the instructor to make arrangements for accommodations. All written information in the course can be made available in alternative format with prior notification to the Center for Disability Services. Campus Safety The University of Utah values the safety of all campus community members. To report suspicious activity, call campus police at 801-585-COPS (801-585-2677). You will receive important emergency alerts and safety messages regarding campus safety via text message. For more information regarding safety and to view available training resources, including helpful videos, visit safeu.utah.edu. Academic Code of Conduct For more information on students' rights and responsibilities, please refer to the Student Code. Addressing Sexual Misconduct Title IX makes it clear that violence and harassment based on sex and gender (which Includes sexual orientation and gender identity/expression) is a civil rights offense subject to the same kinds of accountability and the same kinds of support applied to offenses against other protected categories such as race, national origin, color, religion, age, status as a person with a disability, veteran’s status or genetic information. If you or someone you know has been harassed or assaulted, you are encouraged to report it to the Title IX Coordinator in the Office of Equal Opportunity and Affirmative Action, 135 Park Building, 801-581-8365, or the Office of the Dean of Students, 270 Union Building, 801-581-7066. For support and confidential consultation, contact the Center for Student Wellness, 426 SSB, 801-581-7776. To report to the police, contact the Department of Public Safety, 801-585-2677(COPS). Undocumented Student Support Statement Immigration is a complex phenomenon with broad impact--those who are directly affected by it, as well as those who are indirectly affected by their relationships with family members, friends, and loved ones. If your immigration status presents obstacles to engaging in specific activities or fulfilling specific course criteria, confidential arrangements may be requested from the Dream Center. Arrangements with the Dream Center will not jeopardize your student status, your financial aid, or any other part of your residence. The Dream Center offers a wide range of resources to support undocumented students (with and without DACA) as well as students from mixed-status families. To learn more, please contact the Dream Center at 801.213.3697 or visit dream.utah.edu. Diversity / Inclusivity Statement It is my intent that students from all diverse backgrounds and perspectives be well served by this course, that students’ learning needs be addressed both in and out of class, and that the diversity that students bring to this class be viewed as a resource, strength and benefit. It is my intent to present materials and activities that are respectful of diversity: gender, sexuality, disability, age, socioeconomic status, ethnicity, race, and culture. Your suggestions are encouraged and appreciated. Please let me know ways to improve the effectiveness of the course for you personally or for other students or student groups. In addition, if any of our class meetings conflict with your religious events, please let me know so that we can make arrangements for you. (Source: University of Iowa College of Education) https://disability.utah.edu/ http://www.regulations.utah.edu/academics/6-400.html FINAN 6360 | Page 5 David Eccles School of Business – Statement on Use of Electronic Devices in Exams Use of any and all electronic devices (e.g. pagers, cell phones, language translators, laptops, tablets, calculators, etc.) is forbidden during an exam unless otherwise specifically authorized by the instructor. A student who uses an unauthorized device may be subject to penalties for academic misconduct. David Eccles School of Business – Statement of Professional and Ethical Conduct Because of the importance of professional and ethical behavior in business, and its emphasis in our program, professional or academic misconduct is not tolerated in the David Eccles School of Business. Students are expected to adhere to the standards of behavior outlined in the University of Utah Code of Student Rights and Responsibilities (Policy 6-400). Students engaging in behavioral misconduct could be subject to suspension or dismissal from the University. Students involved in any form of academic misconduct, including but not limited to cheating on tests, plagiarism and collusion may, at the instructor's discretion, receive a failing grade in the course, examination, or academic assignment. In addition to