Office of the Provost and Vice President for Academic Affairs
Department of MBA Program
Academic Year 2014-15 Assessment Report
MISSION STATEMENT
“The University of Montana MBA Program’s mission is to serve our region by developing leaders to effectively manage organizations in a global business
environment”.
DEPARTMENT OBJECTIVES and ALIGNMENT WITH STRATEGIC ISSUES
Our objectives are to enhance lives and benefit society by:
1.empowering our students to pursue meaningful careers and to make positive contributions (Partnering for Student Success, Dynamic Learning Environment)
e.g., SoBA Career Development Program and mentoring through student clubs and Advisory Boards
2. enabling our faculty and students to serve as resources for other stakeholders, including businesses and other professional organizations, both domestic and
international (Education for the Global Century, Discovery and Creativity to Serve Montana and the World, Dynamic Learning Environment)
e.g., International Experience and exchange courses in Germany, Italy, New Zealand and Romania which include outreach projects;
Small Business Institute which provides assistance in business planning for Montana businesses and non-profits
3. fostering our students’ critical thinking and analytical skills, creativity and innovativeness, and awareness and knowledge of global business and sustainability
(Education for the Global Century, Discovery and Creativity to Serve Montana and the World, Dynamic Learning Environment)
e.g., Certificate in Entrepreneurship and Entertainment management;
Initiative to increase students’ quantitative analysis skills through analytics and research focus in connecting to decision-making
4. maintaining and developing faculty excellence in teaching, research, and service through offering current and relevant topics, building long-lasting relationships, and
communicating clear, high expectations. (Partnering for Student Success, Discovery and Creativity to Serve Montana and the World, Dynamic Learning Environment,
Planning-Assessment Continuum)
e.g., leadership in professional organizations; work as consultants
DEPARTMENT OBJECTIVES and ALIGNMENT WITH STRATEGIC ISSUES
STUDENT LEARNING GOALS AND MEASUREMENT TOOLS
GOALS
1. Integrated knowledge of business functions
a. Possess and integrate fundamental business
knowledge
b. Formulate business strategy and create
comprehensive business plan
2. Communication skills and teamwork ability
a. Communicate clearly and professionally in writing
b. Prepare and deliver professional presentations with
appropriate technology
MEASUREMENT TOOLS
Exit exam
Capstone business plan oral
questioning
Pre-post program
writing test
Capstone business plan oral
questioning
Oral exam in BMIS 674 (MIS core
course)
3. Ethical conduct, social responsibility, and
professional leadership
a. a. Analyze, debate, and compare alternative
actions in business ethics situations
Exit Exam
Case analysis
Case analysis in BMGT 650
(business ethics core course)
4. Analytical and innovative thinking in business
problem solving
a. Analyze information, evaluate alternatives and solve
business problems
b. Display innovative thinking in solving business
problems
5. Knowledge and application of current trends in
information technology
a. Communicate knowledge of contemporary trends in
information technology
Exit exam
Capstone business plan oral
questioning
Pre-post program finance test
Exit exam
Oral exam in BMIS 674 (MIS core
course)
STUDENT LEARNING GOALS AND MEASUREMENT TOOLS
GOALS
MEASUREMENT TOOLS
b. Understand and demonstrate the use of diverse
business technology
6. Ability to evaluate implications of operating in the
global business environment
a. Understand and apply concepts, theories, and
institutions of global business
Exit exam
Final exam in BMGT 685 (International
business core course)
RESULTS AND MODIFICATIONS
See attached LG1 through LG 6
APPENDICES
1. MBA Assessment summary and curriculum map
2. LG1 through LG6 full reports
FUTURE PLANS FOR CONTINUED ASSESSMENT
Summary of Actions Planned for 2015-2020 to Close Current Learning Assessment Gaps
Integrated Project Oral Examination (LG1, LG2, LG4)
The integrated project oral examination assessment will be changed in order to directly and separately assess individual students’ performance on the three learning
goals which until now were aggregated into one single score. At the end of the MBA Capstone course, Integrated Project, students work in teams to develop
comprehensive business plans for real organizational clients. The students write a team report and then they perform a lengthy oral presentation during which a team
FUTURE PLANS FOR CONTINUED ASSESSMENT
of faculty teaching different MBA core courses question each student individually on their understanding of business concepts and application of those concepts to the
students’ respective business plan. This presentation acts like an oral exam for each student. Starting in Spring 2015, the faculty will score each student’s performance
on their ability to integrate business knowledge and formulate business strategy (LG1), ability to prepare and deliver professional presentations (LG2), and ability to
analyze information, evaluate alternatives and solve business problems, and display innovative thinking in solving business problems (LG 4) by assigning separate
scores to each one of these performance dimensions. Each score from each judge will be recorded separately in order to allow for inter-judge consistency assessment
as well.
Exit Exam (LG1, LG3, LG4, LG5, LG6)
In Spring 2015 the MBA committee will review and revise the exit exam questions to better assess the core course learning objectives and to identify clear areas of
weaknesses in students’ learning of these objectives. These will be addressed starting Fall 2015. At the first assessment conducted in Spring 2014, overall
performance of the graduating class was satisfactory, with 94.4% of student scores 60% or better(benchmark of 70% of students scoring 60 % or better on the overall
exit exam). However, the scores for the individual disciplines of finance, organizational behavior, ethics, and management, were relatively low, with average scores
below 70%.
Oral Examination in BMIS 674 (LG2 and LG5)
Similarly to the Integrated Project Oral Examination, the evaluation of each individual student will be conducted by assigning separate scores on their performance
concerning ability to communicate (LG2) and demonstration of knowledge of current IT trends (LG5). Until now these two dimensions were aggregated in a single
score. Starting Fall 2015 there will be separate scores assigned and recorded.
Comparison of written samples “pre-post” program (LG2)
Students take a written test to assess their professional writing skills at the beginning of the MBA program, during the MBA Orientation. At the end of the program, in
their Integrated Project capstone class, students write a reflective paper which is scored for writing quality as well. Results for the 2014 graduating students show an
improvement from an average score of 65% at orientation to average of 86% at graduation. However, one weakness of the current measure is the usage of two
different measurement scales for the pre- and post-test. Starting with Spring 2015 this will be rectified and the writing tests scoring will be unified, so that a more
accurate statistical comparison of scores can be performed.
Analytical Skills (LG4)
Financial analysis skills, a major component of overall analytical skills continues to be a concern for our MBA graduates. More effort will be put in evaluating students’
readiness for entering the program in terms of finance foundation. In addition, more effort will be put on providing remedial work and mentoring to students with
deficient skills. In addition, the MBA committee will review the analytical skill teaching and assessment across multiple disciplines and identify more opportunities for
FUTURE PLANS FOR CONTINUED ASSESSMENT
integration.
MBA Assessment Summary The 32‐credit MBA program includes required core classes (18 cr), capstone (1 cr), and electives (13 cr). Additional foundation courses are required for students with nonbusiness undergraduate degrees. After completing the foundation, students can complete the program in two semesters or longer, if attending on a part‐time basis (see diagram below). Courses can be taken in Missoula or via live interactive video broadcast amongst several Montana cities. Most electives are offered in a 1‐credit weekend format in Missoula. Students may transfer up to 9 credits into the program if the graduate advisor deems them equivalent to our courses and at least a B was earned. Given the brevity of the program, this is not common. The MBA has three joint programs: MBA/JD, MBA/Pharm.D, and MBA/DPT. These joint programs allow 9 credits of the non‐business program to count as MBA electives, and vice versa. Because they are long programs (typically four years, full‐
time), enrollment has been low (7, 8, and 1, respectively, in Fall 2013). The MBA program has six learning goals. Learning goal #3 was added in fall 2012. MBA students will demonstrate: 1. Integrated knowledge of business functions 2. Communication skills and teamwork ability 3. Ethical conduct, social responsibility, and professional leadership 4. Analytical and innovative thinking in business problem solving 5. Knowledge and application of current trends in information technology 6. Ability to evaluate implications of operating in the global business environment All learning goals were assessed in this last five‐year cycle (with #3 assessed in fall 2013, one year after it was adopted). Major assessment activities are briefly discussed below. 
Students are required to take a 1‐credit capstone, MBA 603 Integrated Project. In this class, they prepare business plans for real business clients. The project is completed in teams and culminates in a 90‐minute presentation evaluated by core MBA faculty. During the presentation, each team member is challenged with questions on a variety of topics, similar to an oral exam. The faculty individually evaluate each student on the quality of their response content (evidence for integrated business knowledge and analytical/innovative thinking learning goals), as well as the quality of their oral presentation skills (evidence for oral communication learning goal). In addition, beginning spring 2014, students individually complete a reflective paper about the project, which is evaluated for written communication skills. This comprehensive assessment approach was adopted in spring 2010 and has been repeated each spring. Results have been satisfactory on this aggregated score, with over 90% of the graduating students receiving a score above 80% (“Good” or above) in all four years. However, a clear weakness of this measure is the aggregated score which does not allow for separate performance evaluation on each component. This will be rectified in the next review cycle. 
Three course‐embedded measures map to single learning goals: o
The global business issues learning goal easily maps to a single core course (BMGT 685 International Business). Each spring, a final exam assesses this learning goal. Results are satisfactory, with more than 70% of students scoring above 80% (B‐level or better). o
The ethics and professional leadership learning goal (adopted fall 2012) maps to a single core course (BMGT 650 Business Ethics). Beginning fall 2013, an individual case analysis assesses this learning goal. Results are satisfactory, with 100% of students scoring above 80% (B or better), which is well above the 70% student benchmark. o
The information technology learning goals maps to a single core course (BMIS 674 Management Information Systems). Beginning fall 2013, individual oral exams assess this learning goal, as well as the communications learning goal. Results are satisfactory with 100% of students scoring above 80% (B or better), which is well above the 70% student benchmark. 
Starting fall 2012 during orientation, all students complete a pre‐test in both writing and finance. Students who performed poorly were advised to take electives in written communications or finance, and virtually all who were so advised took this advice. In spring 2014, the pre‐test data was analyzed against post‐test data from the capstone reflective papers (see above) and the finance exit exam questions (see below). Results on the communications learning goal were satisfactory with an improvement of students scoring above 80% (Good or B‐level) from 31% at the pre‐test to 85% at the post‐test. Results on the finance questions (analytical thinking learning goal) showed significant pre‐post test improvement (from an average score of 34 percent to 58 percent), but post‐test results could be further improved (see below). 
A comprehensive exit exam was developed and administered in spring 2014. This exam covers topics from all 10 core classes and maps to all learning goals except for communications. The exit exam will be continued each year. The benchmark is that 70 percent of students will score 60 percent or better both overall and on each core class’s subset of questions. Performance was satisfactory both overall and for each core class except for finance and organizational behavior. Results and how they map to the learning goals are presented below. X X X X X X X X X X X X X X X X Global Business Info Technology Ethics Analytical All Areas (n=55) Sub‐Areas: Accounting Finance Org Behavior Mgt Info Systems Ethics Corp Strategy Strategic Mgmt Quantitative Analysis Marketing International Business Average Score 73.2 73.8 65.7 56.8 87.3 69.1 81.8 63.6 73.1 80.3 81.1 % of Students Scoring >= 60% 94.4 89.1 57.4 49.1 94.5 89.1 98.2 78.2 89.1 90.9 96.4 Int Bus Knowledge MBA Exit Exam Results – Spring 2014 X The faculty made three programmatic changes in this last cycle, discussed below. Written Communication Skills – The assessment results from the previous cycle identified the need to improve students’ writing skills. The original thought was to require a new writing course, but faculty determined that only a subset of the MBA students needed improvement on writing skills. Instead, two actions were taken. First, an elective course, MBA 645 Business Writing Skills (1 cr) was placed at the beginning of the MBA curriculum. This is offered in both a live and online section to reach more students. Second, starting in Fall 2012 during pre‐semester orientation, students are administered a pre‐test to evaluate their written communication skills. Underperforming students are advised to take MBA 645, and almost all take this advice. A post‐test using capstone reflective papers in Spring 2014 indicates overall improvement in writing skills, with an improvement of 21 percentage points (65 percent vs. 86 percent). We will continue to monitor pre‐post test results. Financial Analysis Skills – Faculty had observed that students struggle in the core financial management course. This prompted three changes incorporated at the end of the previous cycle and into this cycle. First, in Spring 2008 an elective class was created and offered the five weeks preceding the required core financial management course. This has been done every year since then, with it now situated the first five weeks of the fall semester. The class, BFIN 651 Foundations of Graduate Finance (1 cr) , helps students with rusty financial skills to be in a better position to succeed in the required core financial management class. Second, starting in Fall 2012 during pre‐semester orientation, students are administered a pre‐test to measure their readiness for the graduate core financial management class. Students scoring poorly are advised to take the BFIN 651 class, and almost all take this advice. A post‐test (exit exam) administered in Spring 2014 indicates overall improvement of 33 percentage points (33 percent vs. 66 percent). While this is satisfactory improvement, the MBA Committee continues to focus on measures to improve. Anecdotal evidence indicates students entering the program are not sufficiently prepared in the area of financial analysis, thus additional measures early in the program need to be taken. The third change relates to this pre‐program preparedness. Beginning in Summer 2014, the foundational (pre‐MBA) course BFIN 522 Principles of Financial Analysis, which is a combination of undergraduate finance and economics, was modified to more heavily emphasize the finance component of the course. This course is often taken by students entering the MBA program with a nonbusiness bachelor degree to satisfy the foundation requirements. Faculty will continue to assess readiness and ultimate retention of financial analysis skills. Ethics – The faculty recognized a need for more emphasis on ethics in the MBA curriculum. Though this need was not identified through an assessment program, it was deemed important nonetheless. BMGT 650 Business Ethics (1 cr) was offered as an elective in Fall 2012. Effective Fall 2013, it became a required MBA core course. Assessment results on both a course‐embedded measure and the ethics portion of the exit exam are satisfactory. Learning Goal 6: Ability to Evaluate Implications of Operating in the Global Business Environment Objective: 6.a. Understand and Apply Concepts, Theories and Institutions of Global Business Measure 6.1.: Course Final Exam in BMGT 685 Students’ understanding and ability to apply the concepts, theories and institutions of global business were measured in the last three years at the end of the core International Business course with a multiple choice final exam. The results indicate that the students have successfully achieved this learning goal. Over 90% of students scored 70% or higher and over 70% of the students scored 80% or higher. This level of performance has stayed consistent over the three years of measurement. The satisfactory performance benchmark is for 70% of the students to perform at the B‐level (80%) or better on a course embedded measure. Measure 6.2: Exit Exam section on International Business In addition, the International Business section of the exit exam administered in spring 2014 shows consistent results, with 78% of the graduating students scoring over 80% which again is above the satisfactory performance benchmark that 70% of the students perform 60% or better on an exit exam measure. Measure 6.1. Final Exam Scores in BMGT 685 International Business 2014 day 2014 evening 2013 day 2013 evening 2012 day 2012 evening 98 92 100
95
100 100 95 90 95
95
98 98 95 90 95
95
98 95 95 90 95
95
95 95 93 90 95
95
95 95 90 90
95
95
95 95 88 88 95
93
92 95 85 88 93
93
90 93 85 88 93
93
90 93 85 85 93
93
90 93 83 85 93
93
90 93 83 85 93
93
90 90 83 83 90
90
90 90 83 83
90
90
90 90 83 83 90
90
88 90 83 83 90
90
85 90 80 83 88
90
85 88 80 80 88
88
85 88 78 80 85
88
80 88 78 78 85
85
80 88 78 78 85
85
75 88 78
80
85
70
78 88 78 78 80
85
85 75 75 80
80
85 73 73 78
80
85 70 73 70
80
83 70 73 78
83 68 68 75
83 65 75
83 75
80 75
80 73
80 73
80 68
78 78 78 68 65 2014 2013 2012 Overall avg. score over 90% score over 80% score over 70% Overall avg. score over 90% score over 80% score over 70% Overall avg. score over 90% score over 80% score over 70% 85.00
33% of students
77% of students
95% of students
85.25
40% of students
78% of students
96% of students
87.44
57% of students
82% of students
98% of students
MGMT 685 –Exam 2, spring 2014
Name: __________________________
This exam includes 40 multiple choice questions (2.5 points each). The exam is closed notes
and text, laptop, etc.
1. Exporting at below cost or below the home country price to other countries may be
considered :
A. countertrade
B. a strategic trade policy
C. dumping
2. Which of the following meets only these two criteria: Barriers to the free flow of goods and
services between member countries are removed, and a common external policy toward
nonmembers is established in a _____:
A. Free trade area
B. Customs union
C. Common market
D. Economic union
3. ______is a trade agreement where the member countries have removed internal barriers, have
common external barriers against nonmembers, free movement of factors of production and
harmonization of fiscal and monetary policies:
A. free trade agreement
B. customs union
C. Economic union
4. Trade shifting to a country in a regional economic integration group at the expense of trade
with a nonmember country, even though the nonmember country is more efficient is known as:
A. trade specialization
B. trade diversion
C. trade creation
D. trade internalization
5. The ________ is the most widely traded currency in the world.
A. pound
B. yen
C. euro
D. U.S. dollar
D. Renminbi
6. Assume in the exchange of the U.S. dollar for the British Pound, the spot rate is $1.90 per
pound and the forward rate is $1.98 per pound; compared to the dollar, Pound is selling at a
________.
A. discounted premium
B. backward discount
C. forward premium
D. forward discount
7. According to purchasing power parity theory, if Brazilian inflation rate was 6 percent and
inflation in Argentina was 12 percent, compared to Argentine Peso, the Brazilian Real would be
expected to _____.
A. rise by the difference in inflation rates
B. fall by the difference in inflation rates
C. rise by 4.5 percent
D. stay the same because inflation is not a contributing factor to exchange rate changes
8. The International Fisher Effect implies that in terms of exchange rate between two currencies:
A. the currency of the country with the lower interest rate will strengthen in the future
B. the currency of the country with the higher interest rate will strengthen in the future
C. interest rates and exchange rates are not linked at all
9. Home country nationals are:
A. citizens of the country in which they are working
B. citizens of the country where the company is headquartered
C. Always U.S. citizens
10. What is the most likely reason that companies such as Gillette (razor blades) and 3M
(scouring pads) sell products in smaller package sizes in some countries?
A. Family size is small in those countries.
B. Some governments require the smaller sizes by law.
C. Many consumers may lack sufficient income to buy these products in larger quantities.
11. A ________ staffing policy seeks the best people for key jobs throughout the
organization, regardless of nationality.
A. geocentric
B. polycentric
C. ethnocentric
12. A common reason managers are reluctant to accept the offer of an overseas
assignment is because
A. they usually earn lower salaries abroad than at home
B. they would have to become citizens of the foreign country
C. they believe that locals should fill local positions
D. of the possibility that their spouse and children would fail to adapt to the host
country environment and living conditions
13. The most important criterion in selecting individuals for international assignments is:
A. cognitive skills for understanding what is happening in the host society
B. the technical competence and knowledge of the individuals to perform their
assignments in the host country
C. skills necessary for stress reduction and self-confidence
D. flexibility and tolerance to accept all the cultural norms of the host country
14. Differences in government regulations and infrastructure in foreign markets often lead
MNCs to engage in:
A. Product standardization or selling a similar product in international markets as in the
domestic market.
B. Product adaptation or selling a different product in international markets compared to the
domestic market.
15. Which concept does a better job of explaining short term movements in exchange rates?
A) Purchasing Power Parity
B) International Fischer Effect
C) Bandwagon Effect
16. A problem of licensing agreements for the licensor is that:
A. the licensee can help with providing local market knowledge and expertise.
B. the licensor receives a portion of profits and sales income as part of the licensing
agreement from the licensee.
C. the licensee may become a competitor in the foreign market at a later date if the
licensing agreement is cancelled.
17. The extent to which income from receipt of payments for exports is affected by fluctuations in foreign exchange values is called: A. Economic exposure
B. Translation exposure
C. Transaction exposure
18. A firm entering a foreign market will have both the greatest amount of control and risk if the entry mode is in the form of: A. Licensing.
B. Franchising.
C. Joint venture.
D. Wholly owned subsidiary.
19. __________is a form of market entry where there is more likely to be disputes between the
parent company and the foreign affiliate over transfer prices of goods and services bought
and sold between the two parties.
A. Joint Venture
B. Turnkey Project
C. Licensing
D. Exporting
20. A (n) _____ involves attempting to collect foreign currency receivables early when a foreign
currency is expected to depreciate and paying foreign currency payables before they are due
when a foreign currency is expected to appreciate.
A. Lead strategy
B. Lag strategy
C. Currency arbitrage
21. Assume that the yen/dollar exchange rate quoted in Tokyo at 3:00 p.m. is ¥120 = $1, and the
yen/dollar exchange rate quoted in New York at the same time is ¥125 = $1. A dealer in New
York uses dollars to purchase yen and then immediately sells the yen to buy dollars in Tokyo,
thereby making a profit. The dealer has engaged in a(n):
A. currency swap.
B. arbitrage.
C. speculation
D. straddle.
22. According to the article, “China Doesn’t Want You”:
A. Companies in China are more likely to hire an educated, English speaking local over a
Westerner with decent Mandarin.
B. Expatriates have to settle for lower paying, unskilled jobs due to increased competition
for good jobs.
C. Career opportunities for Westerners are mostly limited to junior level jobs rather than
mid-level or senior-level positions.
D. All of the above are correct.
23. According to the article, “Escaping the dollar trap”:
A. Japan is attempting to reduce its dependence on the US dollar.
B. China has been forced to peg its currency against the dollar weakening the
independence of its monetary policy.
C. With Japan’s increasing investment and trade with China, it makes sense for Yuan and
Yen to trade directly.
24. Companies are concerned about the gray market because ________.
A. Aging population has increased the size of this market
B. it can upset distribution arrangements and the ability of MNCs to charge different prices in different countries C. of the difficulty of converting funds from foreign earnings into local currency
25. An example of a third-country national is a ________.
A. U.S. citizen working for a Mexican company in Mexico
B. Canadian citizen working for a U.S. company in Canada
C. U.S. citizen working for a U.S. company in Canada
D. Canadian citizen working for a U.S. company in Mexico
26. In assigning expatriate managers internationally, host country language fluency is:
A. Critical to the success of the expatiate managers, especially for difficult to learn languages
such as Chinese
B. Helpful in communicating and interacting with affiliate employees and the local population
C. Most important, especially if the manager is taking his/her family along
27. ____ pricing is the use of price as a competitive weapon to drive weaker competitors out of a
national market.
A. Multipoint
B. Value-based
C. Experience curve
D. Predatory
28. ____ refers to the fact a firm's pricing strategy in one market may have an impact on its
rivals' pricing strategy in another market.
A. Multipoint pricing
B. Experience curve pricing
C. Predatory pricing
D. Competitive pricing
29. A _____ states that the bank will pay a specified sum of money to a beneficiary, normally the
exporter, on presentation of particular, specified documents.
A. bill of exchange
B. bill of lading
C. letter of credit
D. bank statement
30. A _____ is issued to the exporter by the common carrier transporting the merchandise and
serves as a receipt, a contract, and a document of title.
A. bill of lading
B. sight draft
C. time draft
D. letter of credit
31. A(n) _____ occurs when a firm builds a plant in a country and agrees to take a certain
percentage of the plant's output as partial payment for the contract.
A. buyback
B. barter
C. offset
D. switch trade
32. A multinational corporation faces opposition from its foreign affiliate in its attempt to
repatriate its share of the profits; this situation is more likely to happen under:
A. exporting as the method of international involvement.
B. joint-venture as the method of international involvement.
C. wholly-owned subsidiary as the method of international involvement.
33. According to the article “Why big American businesses fail in China”, Home Depot’s most
fatal mistake in entering China was that:
A. Its tools and hardware products were not compatible with the needs of Chinese consumers
B. It tried to bring American notions of do-it-yourself (DIY) to a country where labor was so
cheap that most people simply hired a handyman
C. It entered China through a licensing agreement
D. Both A and B are correct
34. When a firm establishes a wholly owned subsidiary in a country by building a subsidiary
from the ground up, that is called a_____.
A. joint venture
B. turnkey strategy
C. licensing agreement
D. greenfield strategy
35. Selecting home country nationals for international assignments has the following advantages
except:
A. Choice of home country managers has support of local government and local subsidiary staff
B. Provides the opportunity to develop home country managers with international experience
C. Home country nationals are familiar with corporate culture and policies
36. According to the article “US still plundering global wealth”:
A. U.S. has not made good on paying back the money borrowed from China
B. U.S. has increased its national wealth through dollar depreciation/monetizing its national debt.
C. U.S. has been pressuring China to raise the value of Renminbi.
D. Both B and C are correct.
37. According to the article, “UK retailers paying in yuan”:
A. Paying suppliers in yuan gives British retailers a wider base of Chinese suppliers and they
could pick the most cost-effective ones.
B. Businesses with subsidies in China and two-way trade flows can net off their transactions and
cut their foreign exchange costs.
C. Chinese suppliers have been adding a buffer into dollar-denominated contracts to guard
against further yuan appreciation.
D. All of the above
38. According to the article, “City ticks most boxes”, Hong Kong (HK) continues to attract
expatriate professionals because:
A. HK offers opportunities to English speaking entrepreneurs who seek a gateway to Chinese
mainland.
B. HK offers plenty of senior-level jobs with multinational companies.
C. HK enjoys efficient public transportation, advanced logistical infrastructure, favorable
business climate and low taxes.
D. All of the above are correct.
39. According to the article, “Greenfield projects are the best bet” as compared to mergers and
acquisitions:
A. Chinese companies are better off investing in greenfield projects because China is seen as a
strategic competitor by the U.S.
B. Greenfield projects do not require as much investment as mergers and acquisitions.
C. Greenfield projects enable Chinese companies to set up shop in right-to-work states avoiding
organized labor issues in the U.S.
40. The article, “Reform of monetary system” calls for:
A. The US dollar to be abandoned as a reserve currency.
B. The IMF Special Drawing Rights to become a new international reserve currency.
C. A diversified system where only two currencies, the US dollar and Chinese Renminbi jointly
function as international reserve currencies.
Measure 6.2. 2014 Exit Exam Section on International Business 2014 Exit Exam IB Scores 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 80 80 80 80 80 80 80 80 80 80 80 80 2014 80 80 80 80 80 80 80 80 80 80 80 80 80 80 60 60 60 60 60 60 60 60 60 60 40 40 Overall avg. 81.09
score over 90% 31% of students
score over 80% 78% of students
score over 60% 96% of students
*Correct answers are underlined, and have an “X” after them. Exit Exam 2014 BMGT 685‐ International Business 1. Assume the current exchange rate between the U.S. dollar and Japanese Yen is $1=100 JPY. How will the exchange rate change if over time Japan experiences a higher rate of inflation than the U.S. during the same time period? a. Japanese Yen will sell at a forward premium compared to the U.S. dollar b. Japanese Yen will sell at a forward discount compared to the U.S. dollar X 2. How has the formation of the European Union helped the economies of member countries within EU? a. It helped improve economic efficiency due to greater competition among EU firms b. It gave EU countries greater economic clout in dealing with major trading partners such as the United States. c. It helped promoted greater cooperation among EU countries due to economic interdependence. d. All of the above are correct X 3. Wal‐Mart has been entering international markets by leveraging its core competencies in distribution and logistics. Wal‐Mart’s strategy can be described as: a. International strategy X b. Localization strategy c. Global strategy 4. The ________ is the most widely traded currency in the world. a. pound b. yen c. euro d. U.S. dollar X e. Renminbi 5. A ________ staffing policy considers only the citizens of the home country as the best people for key jobs throughout the organization. a. ethnocentric X b. polycentric Learning Goal 5: Knowledge and Application of Current Trends in IT
Objective 5.a. Communicate Knowledge of Contemporary Trends in IT
Objective 5.b. Understand and demonstrate the use of diverse business technologies
Measure 5.1: Oral Exam in BMIS 574
2013 MIS 574 ‐ Comprehensive Oral Exam (40% of course grade and individual activity): During week 10 of the class each student takes a 15 minute comprehensive oral examination. Students are randomly selected to address one or two of the major course themes and asked to discuss the material in detail. In addition, they may be asked to discuss and demonstrate the use of the various technologies demonstrated in class. The examination is closed book and students are not allowed any additional resources other than what might be provided to them. All oral exams are digitally recorded. Results: the individual oral exams conducted in fall 2013 demonstrate that the MBA students have successfully mastered this learning goal. The exam covers both objectives. The exam scores indicate that all students performed at a B level or better (80% or better score) while 80% of the students performed at A level (90% or better score). This compares well with the benchmark of 70% of students performing at the B‐level (80%) or better for a course embedded measure. Measure 5.2. Exit Exam Section on MIS In addition, the MIS section of the exit exam administered in spring 2014 shows consistent results, with 84% of the graduating students scoring over 80%. This is satisfactory performance as it is well above the benchmark of 70% of students performing at 60% or better for an exit exam measure. BMIS 674 Oral Exam Scores Fall 2014 – Measures ability to communicate knowledge of contemporary IT trends Comprehensive Exam: Day Class
Evening oral exam grades
Student 1
100
Student
Oral Exam
Student 2
100
1
100
Student 3
100
2
100
Student 4
97
3
100
Student 5
97
4
100
Student 6
97
5
97
Student 7
95
6
95
Student 8
95
7
95
Student 9
95
8
95
Student 10
95
9
95
Student 11
95
10
95
Student 12
95
11
95
Student 13
95
12
95
Student 14
95
13
94
Comprehensive Exam: Day Class
Evening oral exam grades
Student 15
95
14
94
Student 16
95
15
94
Student 17
95
16
93
Student 18
95
17
93
Student 19
94
18
92
Student 20
94
19
89
Student 21
94
20
87
Student 22
94
21
85
Student 23
93
22
85
Student 24
93
Student 25
93
Student 26
90
Student 27
88
Student 28
87
Student 29
87
Student 30
86
Student 31
86
Student 32
85
Student 33
82
93.55 Score over 90% 80% of students Score over 80% 100% of students Overall Avg.
2014 Exit Exam MIS Scores 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 80 80 80 80 80 80 80 80 80 80 80 2014 Exit Exam MIS Scores 100 100 100 100 100 100 100 100 100 100 100 100 100 100 80 80 80 80 80 60 60 60 60 60 60 40 40 40 2014 Overall avg. 86.79
score over 90% 55% of students
score over 80% 84% of students
score over 60% 95% of students
*Correct answers are underlined, and have an “X” after them.
2014 Exit Exam: BMIS 574
1.
The difference between proprietary and infrastructural technologies is that:
A.
B.
C.
D.
2.
Proprietary technologies are owned by a single company. X
Proprietary technologies are more far-reaching, affecting more people.
Proprietary technologies are those that are controlled by the government.
Proprietary technologies are primarily used in distribution
According to Carr, as a technology matures, its use and application:
A.
B.
C.
D.
Becomes differentiated as each company learns how to adapt it.
Becomes more standardized. X
Gains elements of regional and local uniqueness due to world-wide deployment.
Becomes widespread, but it is used much differently in different industries.
3. When using two factor authentication the user must:
A.
B.
C.
D.
enter a valid username and complex password from a secure browser
enter a valid username and complex password
use a secure VPN
enter a valid username, password and a code generated from an app on
your phone or sent as a text message. X
4. Which application demonstrated in class creates and manages complex passwords such as:
fd78Aqb2KIJWiLxrvHsF.
A.
B.
C.
D.
Evernote Premium
Lastpass X
Basecamp
Teamviewer
5. A disruptive innovation often:
A.
B.
C.
D.
appeals to less sophisticated users
doesn’t meet the performance requirements of the most sophisticated users.
is simpler than leading edge products.
All of the above. X
Learning Goal 4: Analytical and Innovative Thinking in Business Problem Solving Objective 4.a. Analyze Information, Evaluate Alternatives, and Solve Business Problems Objective 4.b. Display innovative Thinking in Solving Business Problems Measure 4.1. Integrated Project Oral Exam The results for this measure have already been reported in LG 1. The measure encompasses multiple dimensions, including ability to formulate business strategy and create comprehensive business plan (LG1), ability to prepare and deliver professional presentations with appropriate technology (LG2), ability to analyze information, evaluate alternatives and solve business problems, and display innovative thinking in solving business problems (LG 4). As discussed, the results are satisfactory in their aggregated scoring form, but as we move forward we will separate and record the scores for the individual performance dimensions included in this measure. Measure 4.2. Final Exam in Accounting core course ACTG 605 This measure has been employed for AY 2011‐12 and AY 2012‐13. Again, the MBA program performance benchmark for course embedded measures required 70% of students to score above 80% (B level). The results show that while in 2011 this was achieved, with 78% of students scoring above 80%, in 2012 only 51% of the students scored 70% or higher on the final accounting exam. This measure has been discontinued and replaced with the analytical score on the exit exam. Measure 4.3. Exit Exam Scores for Finance, Accounting, and Quantitative Analysis Accounting (ACTG 605), Finance (BFIN 681) and Quantitative Analysis (BMIS 650) are the three core courses primarily conducive to the learning of analytical skills and their application to solving business problems. The exit exam scores indicate that the 2014 graduating students averaged an analytical score of 70.5%. While 26% of students scored 80% or better on combined analytical score, 61% of students scored 70% or higher and 78% of students scored 60% or better on combined analytical score. Given the increased difficulty of this measure, the MBA committee considered as benchmark for satisfactory performance to be 70% of students scoring 60% or higher like in the case of the overall Exit Exam. According to this measure, the performance is deemed satisfactory. Measure 4.4. Pre‐Post Finance Test The pre‐test is administered at the beginning of the MBA program during orientation and again as a post‐test as part of the exit exam. The same questions (different numbers) are used. Performance shows solid improvement in a paired sample t‐test (t= 7.99, p‐value =.000) with the mean score increasing from 34% at Orientation to 58% at Graduation. Still these scores are below satisfactory. More effort will be placed on preparing students for entering the program and more emphasis will be placed during the MBA program on financial analysis skills. Accounting ACTG 605 Final Course Exam Scores 2011 day 2011 evening 2012 day 2012 evening
100.00 95.76 100.00 95.24 100.00 94.92 100.00 95.24 100.00 94.07 100.00 90.48 100.00 93.22 100.00 90.48 98.31 91.53 100.00 90.48 98.31 91.53 97.14 90.48 97.46 90.68 90.48 90.48 97.46 88.98 90.48 90.48 97.46 88.14 90.48 85.71 97.46 85.59 80.95 82.86 95.76 84.75 80.95 82.86 95.76 82.20 78.10 80.95 95.76 78.81 76.19 80.95 95.76 77.97 76.19 80.95 91.53 76.27 71.43 78.10 91.53 72.88 70.48 76.19 91.53 67.80 68.57 75.24 88.98 62.71 63.81 71.43 88.98 57.63 60.95 71.43 88.98 57.14 71.43 87.29 35.24 70.48 86.44 68.57 86.44 63.81 85.59 61.90 83.05 60.95 81.36 56.19 81.36 56.19 81.36 47.62 79.66 77.12 74.58 70.34 2012 Overall avg. score over 90% score over 80% score over 70% 2011 Overall avg. score over 90% score over 80% score over 70% 78.48 35% of students 51% of students 76% of students 87.47 47% of students 78% of students 94% of students MBA 605
Final Exam 2012
Hubbard Company purchased a truck on January 1, 2009, at a cost of $34,000. The company
estimated that the truck would have a useful life of 4 years and a residual value of $4,000.
1. What would the book value of the truck be at the end of year 2011 using the Straight Line
Depreciation method
2. What would the book value of the truck be at the end of the year 2011 using the Double
(200%) Declining balance method
The inventory records of Martin Corporation reflected the following information for the month
of August:
DATE
TRANSACTION
NUMBER OF UNITS
UNIT COST
8/1
8/3
8/5
8/7
8/11
8/17
8/19
8/21
8/28
8/29
8/30
Beginning inventory
Purchase No. 1
Sale No. 1
Sale No. 2
Purchase No. 2
Sale No.3
Purchase No. 3
Sale No. 4
Sale No. 5
Purchase No. 4
Ending inventory
400
400
600
100
1,000
700
1,000
600
600
1,200
$5
$5
$7
$7
$9
3. What is the Cost of Goods sold under FIFO?
4. What is the Cost of Goods sold under LIFO?
The partial trial balance of Cicero Enterprises included the following accounts as of December
31, 2011:
Debits
Sales revenue
Interest revenue
Gain on sale of land (infrequent but not unusual item)
Loss on expropriated foreign assets (event is unusual and
infrequent)
Cost of goods sold
Salaries and wages
300,000
1,100,000
220,000
Credits
2,000,000
80,000
50,000
Debits
Unearned Revenues
Write-off of obsolete equipment
Sales returns
Depreciation expense
Interest expense
Marketing and administrative expenses
Amortization Expense
Prepaid Expense
Credits
30,000
30,000
45,000
150,000
40,000
50,000
10,000
17,000
Cicero Enterprises had 200,000 shares of stock outstanding throughout the year. Cicero
Enterprises is subject to a 30% tax rate
5.
6.
What is operating income?
What is net income?
The Smith Corporation has provided the following information:
Cash dividend payments were $25,000.
Long-term investments were sold for $79,000 cash.
A building costing $198,000 was purchased using $19,800 cash, the balance was financed with a
mortgage note payable.
Stock was issued to stockholders in exchange for $110,000 cash.
A $44,000 loan was made to a local inventory supplier; the loan will be repaid in twelve months.
Equipment used in operations was sold for $37,000.
Shares of Smith Corporation stock were acquired from stockholders for $92,000 cash.
Cash received from bank loans totaled $71,000.
Land costing $57,000 was purchased in exchange for a long-term note payable.
7. What would the net cash flows from investing activities be?
8. What would the net cash flows from financing activities be?
On January 1, 2010, the stockholders' equity section of Gibbons Corporation's balance sheet
reported the following:
Common stock, par $10, authorized 100,000 shares, issued 10,000 shares
Capital in excess of par value
Retained earnings
$100,000
50,000
160,000
During 2010, the following selected transactions occurred (assume they occurred in the order
given):
(1) Issued a 10% stock dividend; 1,000 shares issued when the market price was $12.
(2) 200 shares of treasury stock were purchased at $11 per share.
(3) Declared and paid a cash dividend of $19,800.
(4) Net income was $30,000.
9. What is the total amount of Stockholders’ Equity at the end of the year?
Sagaworth Inc. reported the following information:
2011 Income Statement
Net loss
Depreciation expense
Amortization expense
$380,000
150,000
25,000
Accounts receivable
Inventory
Prepaid expenses
Accounts payable
Accrued liabilities
Taxes payable
Balance Sheet
2011
$200,000
140,000
40,000
190,000
50,000
10,000
2010
$230,000
160,000
30,000
180,000
45,000
20,000
10. Determine Sagaworth's net cash flow from operating activities for 2011 under the indirect
method.
The December 31, 2011, partial trial balance (in $ thousands) for Short Manufacturing Co. is
presented below:
Cash
Unearned Revenues
Trademark
Investments, matures 18 months
Accounts receivable
Gain on Sale of Land
Allowance for uncollectible accounts
Prepaid insurance, current
Inventories
Notes Payable, due 2013
Land
Common Stock
Buildings
Accumulated depreciation – buildings
Wages Payable
Equipment
Debits
22,500
Credits
12,000
18,000
55,000
30,000
4,000
7,500
4,500
100,000
65,000
45,000
150,000
140,000
50,000
5,000
132,500
Debits
Accumulated depreciation – equipment
Note Payable due 6 months
Interest Expense
Patents (unamortized balance)
Dividend Payable
Accounts payable
Good Will
Interest payable
Bonds payable, due 2018
Short Term Bonds Investment
Accumulated Amortization – Patent
Treasury Stock
Sales Discount
Retained Earnings
TOTALS:
11. What is total current Assets?
12. What is total current Liabilities?
13. What is total Assets?
14. What is total Liabilities?
15. Agnes Company reported the following data:
Quick assets
Current assets
Total liabilities
Average net receivables
Beginning inventory
Long-term liabilities
Net credit sales
Cost of goods sold
Ending inventory
What was the inventory turnover ratio?
A. 2.2
B. 1.8
C. 2.0
D. 3.0
$55,000
150,000
300,000
12,600
38,000
200,000
126,000
84,000
46,000
Credits
30,000
12,000
5,000
5,000
5,000
37,500
12,000
10,000
120,000
8,000
4,000
5,000
4,000
581,500
64,500
581,500
16. Thomas Company had income before interest and taxes of $120,000. Interest expense for the
period was $17,000 and income taxes amounted to $28,500. The average
stockholders' equity was $680,000. What is Thomas' return on equity (ROE)?
A. 17.65%.
B. 15.15%.
C. 13.46%.
D. 10.96%.
17. Lee Company has provided the following information:
 Cash flow from operating activities, $240,000;
 Net income, $204,000;
 Interest expense, $20,000;
 Interest cash payments, $10,000;
 Income tax payments, $140,000;
 Income tax expense, $136,000.
What was Lee's times interest earned ratio?
A. 39.0
B. 18.0
C. 35.4
D. 17.7
18. Which of the following transactions decreases earnings per share?
A. Collection of an account receivable.
B. Selling treasury stock for an amount less than its cost.
C. A decrease in the market value per share.
D. Paying cash in advance for rent.
19. The records of Marshall Company include the following:
Average total assets
$3,500,000
Average total liabilities
1,220,000
Total revenue
4,580,000
Total expense (including income tax)
4,100,000
Interest expense (including total expenses)
90,000
Income tax rate 40%
The return on equity is (round to the nearest tenth of a percent)
A. 21.1%.
B. 10.2%.
C. 16.4%.
D. 17.1%.
20. Which of the following statements is correct?
A. A ratio calculation is most relevant in isolation.
B. One of the advantages of ratio analysis is that it allows companies of different
sizes to be compared.
C. Finding benchmarks for comparison is a straight-forward task.
D. It is always preferable to compare a company's performance to industry-wide
ratios rather than to use a competitor's ratios.
21. The records of Marshall Company include the following:
Average total assets
$3,500,000
Average total liabilities
1,220,000
Total revenue
4,580,000
Total expense (including income tax)
4,100,000
Interest expense (including total expenses)
90,000
Income tax rate 40%
The return on assets is (round to the nearest tenth of a percent)
A. 14.9%.
B. 18.3%.
C. 15.3%.
D. 14.7%.
Measure 4.3. Exit Exam Scores for Finance, Accounting, and Quantitative Analysis Quant Analysis Accounting Finance Total Analytical Score 100 100 100
100.0
100 100 75
91.7
100 100 75
91.7
100 100 75
91.7
100 60 100
86.7
60 100 100
86.7
80 80 100
86.7
100 60 100
86.7
100 80 75
85.0
100 80 75
85.0
100 80 75
85.0
100 80 75
85.0
100 80 75
85.0
40 100 100
80.0
80 80 75
78.3
80 80 75
78.3
80 80 75
78.3
60 100 75
78.3
100 100 25
75.0
60 60 100
73.3
60 80 75
71.7
Quant Analysis Accounting Finance Total Analytical Score 100 40 75
71.7
40 100 75
71.7
60 80 75
71.7
80 60 75
71.7
60 80 75
71.7
80 60 75
71.7
80 80 50
70.0
60 100 50
70.0
60 100 50
70.0
60 100 50
70.0
80 80 50
70.0
60 100 50
70.0
60 60 75
65.0
60 60 75
65.0
60 60 75
65.0
60 60 75
65.0
80 60 50
63.3
60 80 50
63.3
80 60 50
63.3
80 60 50
63.3
80 60 50
63.3
40 60 75
58.3
60 60 50
56.7
80 40 50
56.7
40 80 50
56.7
60 60 50
56.7
80 40 50
56.7
60 60 50
56.7
100 60 80 20 50
50.0
20 80 50
50.0
60 40 50
50.0
20 100 25
48.3
80 40 0
40.0
AVERAGE SCORES 73.09 73.82 65.74
70.48
26% of students scored 80% or higher on combined analytical score 61% of students scored 70% or higher on combined analytical score 78% of students scored 60% or higher on combined analytical score Exit Exam Question for Accounting ACTG 605 (Guay) *Correct answers are underlined, and have an “X” after them. 1. Atlantic Corporation reported the following amounts at the end of the first year of operations: contributed capital $200,000; sales revenue $800,000; total assets $600,000; dividends declared $40,000; and total liabilities $320,000. What are Atlantics' retained earnings at the end of the year and how much expenses were incurred during the year? A. Retained earnings are $80,000 and expenses incurred totaled $680,000. X B. Retained earnings are $80,000 and expenses incurred totaled $720,000. C. Retained earnings are $280,000 and expenses incurred totaled $480,000. D. Retained earnings are $280,000 and expenses incurred totaled $520,000. 2. Which of the following is an objective of the external audit of a company's financial statements? A. To provide a forecast of the company's future earnings. B. To assure no fraud has been committed by the company's management. C. To provide credibility and assurance that the financial statement information conforms with generally accepted accounting principles in all material respects. X D. To detect all accounting errors made by the accounting system and employees. 3. KAJ Incorporated purchased a machine costing $100,000 by paying $20,000 cash and signing an $80,000 note payable. How would this transaction be reported within the cash flow from financing activities section of the cash flow statement? A. An outflow of $100,000. B. An outflow of $80,000. C. An outflow of $20,000. D. It would have no effect. X 4. Which of the following is not one of the benefits of budgeting? A) understanding of the interaction among different parts of the firm B) ensures that resources are allocated to value‐added activities C) aids management in identifying areas requiring correction D) eliminates mistakes X 5. Limited liability means: A. A company is only liable for an amount that is established by a pre‐set limit B. Creditors are limited to just the cash available in the company at the time of the loss C. Creditors of a company can only claim the assets of the firm and not the assets of the owners of the firm X D. Creditors of a firm can claim all the assets of a company but only a limited amount of the owner's personal assets Exit Exam Questions for Finance: BFIN 681 Financial Management (Costa) NOTE: Same questions (different numbers) are asked in the finance pre‐test administered during Orientation 1. What is the effective annual rate of 6% compounded quarterly? [Nom = 6, C/Y = 4, Eff = 6.1364] A)
5.37% B)
6.00% C)
6.14% X D)
7.50% E)
24.00% 2. Given the following cash flows, what is the internal rate of return? Today 1st year 2nd year 3rd year 4th year ‐1000 200 350 800 1,125 [CFo = ‐1000, CF1 = 200, CF2 = 350, CF3 = 800, CF4 = 1125, IFF = 35.1915] A) 25.6% B) 28.9% C) 32.3% D) 35.2% X E) 36.4% 3. Your firm is considering leasing a new radiographic device. The lease lasts for 3 years. The lease calls for 4 payments of $25,000 per year with the first payment occurring immediately. The computer would cost $140,000 to buy and would be straight‐line depreciated to a zero salvage value over 3 years. The actual salvage value is negligible because of technological obsolescence. The firm can borrow at a rate of 12%. The corporate tax rate is 40%. What is the after‐tax cash flow from leasing relative to the after‐tax cash flow from purchasing in years 1‐3? [$‐25,000(1 ‐ .40) ‐ ($140,000/3)(.40) = $‐15,000 ‐ $18,667 = $‐33,667] A) ‐$18,667 B) ‐$3,667 C) ‐$33,667 X D) ‐$71,667 E) None of these 4. Your firm sells $2,000 worth of goods in December, $1,700 worth in January, $1,500 in February and $1,600 in March. Your cost is 60% of the retail price. You have a receivables period of 30 days and a payables period of 45 days. You buy your products two months prior to selling them. Which one of the following statements is correct given this information? [January disbursements = (45 ÷ 90) × (.60 × $1,700) + (45 ÷ 90) × (.60 × $1,500) = $960] A) The accounts payable balance at the end of February is $750. B) Your January disbursements to your suppliers are $960. X C) Your February disbursements to your suppliers are $900. D) Your March disbursements to your suppliers are $930. E) Your beginning accounts payable balance as of January 1st is $450. 5. The Lemon Company made a credit sale of $15,000. The invoice was sent today with the terms, 1/10 net 30. This customer normally pays at the net date. If your opportunity cost of funds is 7% the expected payment is worth how much today? (Hint: Use daily compounding) [$15,000/(1.07)30/365 = $14,916.82] A) $14,883 B) $14,917 X C) $15,000 D) $16,233 E) None of these. Exit Exam Questions for Quantitative Analysis: BMIS 650 (Evans) 1. Which measure of central tendency would be most appropriate for income and other socio‐economic data: a. mean b. median X c. mode d. 25th percentile 2. The most appropriate chart/graph for continuous or scale data is: a. a histogram X b. a bar chart c. a pie chart d. a box plot 3. In regression analysis, R2 is best interpreted as: a. the impact of seasonal variables on the dependent variable b. the statistical significance of the independent variables c. the slope of the regression line d. the proportion of variance explained by the independent variable(s) X 4. The best interpretation of a statistically significant correlation between a set of predictor variables and the dependent variable (the variable being forecast) is: a. the predictor variables cause the dependent variable. b. the predictor variables and the dependent variables occur randomly. c. the predictor variables explain a reliable amount of the change in the dependent variable. X d. the slope of the regression line is essentially zero. 5. Underlying every method of forecasting is the assumption that: a. there are causal relationships among the independent and dependent variables. b. seasonal effects have been measured and separated from the trend. c. the data exhibit no discernable trend or pattern over time. d. the historic behavior of variables can be extrapolated into the future. X Measure 4.4. Pre‐Post Finance Test Pre (Orientation) 45 70 35 60 55 15 40 40 15 45 20 40 15 22.5 25 75 22.5 35 20 25 27.5 22.5 20 44 70 55 17.5 25 Post (Graduation) 100
100
80
80
80
80
80
80
80
80
60
60
60
60
60
60
60
60
60
60
60
60
60
60
60
60
60
60
60
60
60
60
60
60
60
60
40
40
Pre (Orientation) Post (Graduation) 27.5 40
15 40
45 40
40
40 40
40
45 40
17.5 40
40
30 40
17.5 40
40
40
20 20
20
Paired Samples Statistics
Mean
Pair 1
N
Std. Deviation
Pre (Orientation)
34.027
37
16.9525
Post (Graduation)
58.38
37
17.242
t = 7.99 Sign (2‐tailed) = 0.00 Learning Goal 3: Ethical Conduct, Social Responsibility, and Professional Leadership Objective 3.a. Analyze, debate, and compare alternative actions in business ethics situations Measure 3.a. Case Analysis in BMGT 650 Business Ethics In the Business Ethics core MBA course in Fall 2013 students were required to individually analyze, evaluate, and recommend a solution to an ethical dilemma in a business case. The student scores indicate satisfactory performance in the students’ understanding of the ethical dilemma, application of ethical theories, generation of acceptable alternatives, and application of an ethically sound decision. All students scored above 80% which is well above the benchmark of 70% of students scoring 80% or better (B or better) on course embedded measures. Measure 3. b. Exit Exam – Ethics Component In addition, the Ethics section of the Exit Exam administered to the 2014 graduating class indicates that 91% scored 60% or higher, with an average class score of 69%. The MBA program benchmark requires 70% of students to score 60% or better on exit exam measures. Therefore this measure indicates satisfactory performance. Business Ethics Case ‐ Fall 2013 Ethics Exam 2014
96 100
60
95 100
60
94 100
60
94 100
60
93 100
60
93 100
60
93 100
60
93 100
60
92 80
60
92 80
60
92 80
60
92 80
60
92 80
60
92 80
60
92 80
40
91 80
40
91 80
40
91 80
40
91 80
40
90 80
40
90 80
90 80
90 80
90 60
90 60
Business Ethics Case ‐ Fall 2013 Ethics Exam 2014
89 60
89 60
88 60
87 60
85 60
60
60
60
60
60
Ethics Case Exit Exam Overall avg. score over 90% score over 80% Overall avg. score over 90% score over 80% score over 60% 91.23% 83% of students 100% of students
69.01% 15% of students 43% of students 91% of students Exit Exam Questions ‐ BMGT 650 Business Ethics (Evans) *Correct answers are underlined, and have an “X” after them. 1. The ethical theory that proposes that justice is achieved by maximizing the good for the greatest number of people is: a. Utilitarianism X b. Libertarianism c. Deontological d. Rawlsianism 2. The ethical theory that has as its foundation respect for an individual as an end in themselves as opposed to a means to an end is: a. Utilitarianism b. Libertarianism c. Deontological X d. Rawlsianism 3. Beyond making decisions that are within the bounds of criminal and civil law, the best guidance a decision‐maker can obtain would be from: a. the articulated positions of an advocacy group b. the ethical standards of their profession X c. the positions outlined by their political ideology d. an analysis of the best outcomes from a decision 4. You work for an accounting firm that is encouraging clients to place funds in a tax‐shelter that is not allowed under IRS rules. Why would it be unethical to place clients into such tax shelters? a. because sheltering income from taxes is unethical b. because steering clients toward particular investment vehicles is unethical c. because the risk associated with investments places clients at risk d. because these specific tax‐shelters are illegal. X 5. It is a common practice in your industry for company representatives to receive gifts and other valuable consideration from clients as part of the client relationship culture. There is no state or federal laws prohibiting these “favors”. Which statement best describes the ethical implications of this practice. a. This practice is ethical because it is not illegal. b. This practice is unethical because it involves receiving compensation from clients. c. This practice is ethical because it is a common practice in the industry. d. This practice is unethical because it appears inappropriate by your professional standards. X Learning Goal 2: Communication Skills Objective 2.a. Communicate clearly and professionally in writing Measure: Comparison of written samples “pre‐post” program Students take a written test to assess their professional writing skills at the beginning of the MBA program, during the MBA Orientation. At the end of the program, in their Integrated Project capstone class, students write a reflective paper which is scored for writing quality as well. Results for the 2014 graduating students show an improvement from an average score of 65% at orientation to average of 86% at graduation. The following table displays the paired sample sorted by “pre‐test score”. The “pre‐
program” measure indicates that only 31% of the students scored at the level “Good” or above (80% score or better). In comparison, at the “post‐program” measure, 85% of students scored above 80% (the MBA program benchmark is 70% of students scoring 80% or better). Therefore, this measure indicates satisfactory progress made by students during the program. However, one weakness of this measure is the usage of two different measurement scales for the pre‐ and post‐test. Starting with Spring 2015 this will be rectified and the writing tests scoring will be unified, so that a more accurate statistical comparison of scores can be performed. Objective 2.b. Prepare and deliver professional presentations with appropriate technology Measure: Integrated Project Oral Exams As presented in LG1, the scores indicate an overall satisfactory performance by the students as faculty rated individual students’ quality of professional presentation along with their integrated business knowledge and analytical and critical thinking. As we move forward in the next cycle the scoring of students’ performance will be recorded and analyzed separately for each component. Measure: Oral Exam in BMIS 674 At the end of the core MIS course, the instructor conducts a 20 min long oral examination (recorded) with each individual student. The instructor grades students based on their ability to communicate their knowledge of contemporary trends in IT (LG5 and LG2). The scores indicate a satisfactory performance by the students, with all students scoring 80% or better (the MBA program benchmark is 70% of students performing B or better, i.e., scoring over 80%). The fact that this measure combines two different learning goals in an aggregated score is a weakness which will be rectified starting with fall 2015 when separate scores will be assigned to ability to communicate and demonstration of knowledge of contemporary IT trends. Measure 2.a. Comparison of written samples “pre‐post” program Writing Test ‐ Comparison for 2014 Graduates Pre Post (Orientation) (Graduation) 80 100
80 97
60 96
60 95
60 95
40 95
60 93
60 92
60 92
80 92
80 92
60 92
80 91
80 91
60 90
60 90
80 90
80 88
60 88
40 88
60 88
80 88
60 87
60 87
60 87
80 86
60 86
80 86
40 86
60 85
100 85
80 85
60 85
60 85
60 84
60 84
60 84
60 83
60 60 60 80 80 40 80 60 100 60 60 40 60 60 40 60 60 83
82
82
82
82
81
80
80
80
79
77
76
75
73
70
70
70
Overall avg. score over 90% score over 80% score over 70% Overall Post‐test avg. score over 90% score over 80% score over 70% Pre‐test 64.73% 4% of students 31% of students 89% of students 85.64% 31% of students 85% of students 100% of students Pre-test (at Orientation) MBA Writing Test: Assessment of Your Writing Skills Task:
Write a one page single-spaced memo to the director of SoBA’s MBA program that
describes and evaluates your previous experience in written communication and sets
goals for self-improvement.
In your memo, please:
 Describe writing you have done in a business or professional setting or, if
necessary, in academia. Provide enough background and detail (e.g., types of
writing, audiences addressed, purposes) to give your reader a clear picture of
your experiences as a writer.
 Evaluate your strengths and weaknesses as a business writer. Mention
feedback others have given you, both direct (what people have said to you about
your skills) and indirect (whether you have generally succeeded in achieving the
goals of your communication).
 Set a few goals for yourself as a business writer and include some ideas as to
how you might meet them. Make sure the goals are specific and attainable.
Scoring:
You will earn a numerical score, one through five. Find the rubric and descriptors for these scores on the reverse of this page.
A score of a three or higher is passing, a score of a one or a two indicates serious concerns about the writer’s preparedness for the MBA program’s expectations.
Individuals earning a score of one or two will meet with the program director to devise a plan to bring writing skills up to acceptable levels. Please print your writing and staple it to this rubric before handing it in.
We will return your writing with a score and if necessary, circles around elements on the
rubric that need attention.
Name: _____________________________________
Score = 5
Excellent
1. Responds completely to the prompt’s directives.
2. Demonstrates sophisticated description, evaluation, and goal setting with thorough support from
examples.
3. Includes insightful, specific ideas and communicates them with clarity and brevity.
4. Has a deliberate, logical organization that guides the reader through the memo.
5. Displays control and skill in word choice and sentence structure.
6. Uses a style and tone that is appropriate, consistent, and achieves a desired effect on the audience.
7. Uses grammar and mechanics correctly, and uses correct memo format.
Score = 4 Good
1. Responds appropriately, with a clear understanding of directives.
2. Demonstrates an understanding of description, evaluation, and goal setting, and provides examples.
3. Includes some insightful ideas, communicates them with clarity, and some brevity.
4. Has obvious organization marked by transitional words and phrases.
5. Displays competency in word choice and sentence structure.
6. Uses an appropriate and consistent tone and style.
7. Most grammar and mechanics are correct, and uses a memo format.
Score = 3 Adequate
1. Responds appropriately, with a sufficient understanding of directives.
2. Provides a few points of description and evaluation supported by some evidence or details.
3. Develops ideas logically.
4. Has a purposeful organization but without much attention to effect on reader.
5. Displays adequate word choice and sentence structure.
6. Uses a fairly appropriate tone and style.
7. Most grammar and mechanics are correct, and memo format is acceptable.
Score = 2 Limited
1. Responds with partial or unfocused attention to directives.
2. Makes limited or self-evident points, does not support them with evidence or details.
3. Develops ideas with minimal logic.
4. Uses some organizational tactics.
5. Displays imprecise word choice or awkward sentence structure.
6. Uses a tone and style that is inappropriate or inconsistent or results in an unintended effect on the
audience.
7. Grammatical or mechanical errors are commonplace.
8. Goes over the one single spaced page requirement.
Score = 1 Poor
1. Does not respond to directives.
2. Lacks clear responses to prompts.
3. Does not develop ideas logically or in any detail.
4. Has generalized problems with unity, organization, and focus.
5. Displays imprecise word choice or awkward sentence structure.
6. Has a tone or style that is inappropriate, inconsistent, and damaging.
7. Grammatical or mechanical errors are commonplace.
Post-test (at Graduation)
Integrated Project: Reflective Paper Assignment
After you have completed and presented the business plan, write a two‐page essay (1.5 line spacing) assignment in which you each individually reflect on your team effort during this course and critically evaluate issues such as leadership, teamwork, strategy for this project, ethical issues, available or missing know how, performance relative to the client’s, the instructor’s and your own expectations, etc. Support your claims with specific information and draw on relevant concepts and principles you have acquired on these topics in your MBA program if possible. The grading rubric is in Appendix G. The paper is due with the peer evaluation on May 16th by 3 p.m. Please upload to Moodle. BELOW
STANDARD
EXCELLENT
ADEQUATE
Reflection on
Group Work
20 points Writing demonstrates a
deep reflection on the efforts of
other team members, their
individual contributions, synergies
in the group and mutual support
provided.
17 points Writing demonstrates a
sufficient reflection on the efforts of
other team members or their
individual contributions.
10 points Writing
demonstrates no or minimal
reflection on team work.
Critical
Evaluation of
Specific Issues
40 points Conveys evidence of a
personal response to several issues
with demonstration of personal
growth and awareness. Includes
insightful, specific ideas and
supports these with clear examples.
Integrates issues using other
perspectives or positions.
Demonstrates sophisticated
description and evaluation
34 points Conveys some evidence
of a personal response to issues.
Includes some specific ideas and
supports those with relevant
examples. Distinguishes between
description and evaluation.
20 points Conveys little
evidence of a personal
response to the issues.
Includes obvious, superficial,
or unclear ideas, supported
with few examples. Does not
distinguish between
description and evaluation.
Effective
Communication
10 points Makes effective use of
headings, fonts, bullet points, and
white space to enhance the
content's visual appeal and increase
readability.
8 points Makes occasional use of
headings, fonts, bullet points, and
white space to enhance the content's
visual appeal and increase
readability.
5 points Makes minimal or
no use of headings, fonts,
bullet points, and white space
to enhance visual appeal and
readability.
10 points Demonstrates correct,
grammar, spelling and other
mechanics. Stays within page limit
and uses all space effectively.
8 points Edits text with minor
additional editing required for
grammar, spelling and other
mechanics. Stays within page limit.
5 points Errors in grammar,
capitalization, punctuation,
and spelling distract or impair
readability. Too long or too
short.
EXCELLENT
BELOW
STANDARD
ADEQUATE
10 points Has a deliberate,
strategic organization that guides
the reader through the content
8 points Organization of paper is
purposeful, but does not enhance
understanding.
5 points Has general
problems with paragraph
unity, organization and focus.
Organization of paper
confuses reader.
10 points Displays control and
skill in word choice, style, tone and
sentence structure. Practices
economy of language
8 points Displays adequate word
choice, tone and sentence structure.
Needs to tighten up wordiness
5 points Imprecise and
inconsistent word choice or
awkward sentence structure
impede understanding.
Wordy.
BMIS 674 Oral Exam Scores Fall 2014 – Measures ability to communicate knowledge of contemporary IT trends Comprehensive Exam: Day Class
Evening oral exam grades
Student 1
100
Student
Oral Exam
Student 2
100
1
100
Student 3
100
2
100
Student 4
97
3
100
Student 5
97
4
100
Student 6
97
5
97
Student 7
95
6
95
Student 8
95
7
95
Student 9
95
8
95
Student 10
95
9
95
Student 11
95
10
95
Student 12
95
11
95
Student 13
95
12
95
Student 14
95
13
94
Student 15
95
14
94
Student 16
95
15
94
Student 17
95
16
93
Student 18
95
17
93
Student 19
94
18
92
Student 20
94
19
89
Student 21
94
20
87
Student 22
94
21
85
Student 23
93
22
85
Student 24
93
Comprehensive Exam: Day Class
Student 25
93
Student 26
90
Student 27
88
Student 28
87
Student 29
87
Student 30
86
Student 31
86
Student 32
85
Student 33
82
Overall Avg.
Score over 90% Score over 80% 93.55 80% of students 100% of students Evening oral exam grades
Learning Goal 1: Integrated Knowledge of Business Functions Objective 1.a. Possess and integrate fundamental business knowledge Objective 1.b. Formulate business strategy and create comprehensive business plan Measure 1. Integrated Project Oral Exam At the end of the MBA Capstone course, Integrated Project, students work in teams to develop comprehensive business plans for real organizational clients. The students write a team report and then they perform a lengthy oral presentation during which a team of faculty teaching different MBA core courses question each student individually on their understanding of business concepts and application of those concepts to the students’ respective business plan. This presentation acts like an oral exam for each student. The faculty score each student’s performance on their ability to integrate business knowledge and formulate business strategy (LG1), ability to prepare and deliver professional presentations with appropriate technology (LG2), and ability to analyze information, evaluate alternatives and solve business problems, and display innovative thinking in solving business problems (LG 4). While the evaluation form (attached) records separate scores for the three learning objectives, only the aggregated score has been recorded historically over the past five years. Therefore, students’ performance can be reported here only in aggregate over these three objectives and not separately. This is a weakness which will be addressed starting with Spring 2015 when the individual evaluation form will be revised to measure separately LG1 (integrated knowledge), LG2 (communication) and LG4 (analytical problem solving skills). The scores of the evaluating faculty will be recorded separately in order to allow for inter‐judge consistency assessment as well. The results, presented in the next tables, are satisfactory indicating that in each one of the past four years over 90% of the graduating students received an aggregated score of Good or above (score over 80%) Measure 2. Exit Exam In Spring 2014 the MBA committee introduced a required exit exam to evaluate students’ knowledge of the different business functions accumulated during their entire MBA program studies. The exam is used for program assessment purposes and is not tied to the students’ ability to graduate. The exit exam (attached) consists of 50 multiple choice questions, 5 for each one of the 10 core disciplines. The MBA Committee decided that the Program “passes” if more than 70% of the students score 60% or higher. The results indicate that: 94.4% of students scored 60% or better and 68.5% scored 70% or better. Overall, this is a satisfactory result, especially for the first time that an exit exam was administered. However, by looking at the individual disciplines, students’ performance in finance, organizational behavior, ethics, and management, is relatively low, with average scores below 70%. In Spring 2015 the MBA committee will review and revise the exit exam questions to better assess the core course learning objectives and to identify clear areas of weaknesses in students’ learning of these objectives. These will be addressed starting Fall 2015. Integrated Project ‐ Individual Oral Exam Scores 2014 Day 2014 Evening 98.0
90.0
96.0
2013 Day 2013 Evening 2012 Day 2012 Evening 2011 Day 2011 Evening 97.0
97.0
93.3
100.0
90.0
96.0
97.0
90.9
99.0
94.0
88.0
95.0
96.5
90.0
95.5
94.0
88.0
93.3
96.0
89.9
95.0
94.0
88.0
92.3
96.0
89.5
94.0
93.0
88.0
92.3
95.5
89.0
92.7
92.0
88.0
92.0
95.5
89.0
91.7
92.0
88.0
91.7
95.0
89.0
91.5
91.0
87.0
91.0
95.0
88.9
91.0
91.0
87.0
90.7
95.0
88.7
91.0
91.0
87.0
90.3
94.5
87.8
90.0
90.0
86.0
90.3
93.5
87.7
89.3
90.5 88.5 88.5 88.0 87.0 87.0 86.0 85.0 85.0 84.5 84.0 81.0 90.0
86.0
90.0
93.0
87.5
88.5
87.0
86.0
89.7
93.0
87.5
87.7
87.0
86.0
89.7
93.0
86.0
86.0
86.0
89.7
92.5
86.0
85.0
86.0
89.0
92.0
85.8
85.0
84.0
89.0
91.0
85.7
84.0
84.0
89.0
91.0
85.5
83.0
84.0
89.0
90.0
85.0
82.0
84.0
88.3
81.0
84.0
88.3
81.0
84.0
88.3
75.0
84.0
88.0
93.7 93.0 92.7 92.0 91.3 91.0 91.0 90.7 89.3 89.3 89.3 88.7 88.3 87.0 86.3 86.0 85.7 85.7 85.7 85.3 84.0 83.7 82.7 77.7 70.0
84.0
87.7
84.0
87.7
84.0
87.3
83.0
87.3
83.0
85.0
83.0
83.0
83.0
81.0
81.0
Oral Exam Score Averages 2014 Overall avg. 86.4
score over 90% 26% of students score over 80% 97% of students 2013 Overall avg. 91.8
score over 90% 67% of students score over 80% 100% of students 2012 Overall avg. 89.7
score over 90% 40% of students score over 80% 100% of students 2011 Overall avg. 87.4
score over 90% 25% of students score over 80% 97% of students Exit Exam Total Score
93.50
93.00
91.00
87.50
85.00
83.00
82.00
81.00
80.00
79.50
79.00
78.50
78.00
76.00
75.50
74.50
74.00
73.00
Frequency
Percent
1
1
1
1
2
2
1
1
1
1
1
3
1
3
2
1
1
1
1.9
1.9
1.9
1.9
3.7
3.7
1.9
1.9
1.9
1.9
1.9
5.6
1.9
5.6
3.7
1.9
1.9
1.9
Cumulative Percent
1.9
3.7
5.6
7.4
11.1
14.8
16.7
18.5
20.4
22.2
24.1
29.6
31.5
37.0
40.7
42.6
44.4
46.3
Exit Exam Total Score
72.50
71.00
70.50
70.00
69.50
68.50
68.00
66.00
65.50
63.00
60.50
60.00
57.50
53.50
Frequency
Percent
4
3
1
4
1
3
2
2
1
2
2
1
1
2
7.4
5.6
1.9
7.4
1.9
5.6
3.7
3.7
1.9
3.7
3.7
1.9
1.9
3.7
Cumulative Percent
53.7
59.3
61.1
68.5
70.4
75.9
79.6
83.3
85.2
88.9
92.6
94.4
96.3
100.0
Distribution of Overall Exit Exam Scores for all Spring 2014 Graduating MBA Students
Results by Discipline Statistics
ACT
N
Valid
FIN
Org
Beh
MIS
ETHICS
STRAT
MGMT
QUANT
MKTG
55
54
55
55
55
55
55
55
55
55
Mean
73.82
65.74
56.82
87.27
69.09
81.82
63.64
73.09
80.36
81.09
Std. Deviation
20.32
20.77
23.79
17.37
17.56
15.53
18.89
21.16
19.05
16.06
Minimum
20.00
0.00
0.00
40.00
40.00
40.00
20.00
20.00
40.00
40.00
Maximum
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
ACT (Accounting)
Frequency
Valid
Percent
Valid
Percent
Cumulative
Percent
100.00
14
25.5
25.5
25.5
80.00
17
30.9
30.9
56.4
60.00
18
32.7
32.7
89.1
40.00
5
9.1
9.1
98.2
20.00
1
1.8
1.8
100.0
Total
55
100.0
100.0
FIN (Finance)
Frequency
Valid
Missing
Valid
Percent
Cumulative
Percent
7
12.7
13.0
13.0
75.00
24
43.6
44.4
57.4
50.00
20
36.4
37.0
94.4
25.00
2
3.6
3.7
98.1
100.0
Total
Total
Percent
100.00
.00
IB
System
1
1.8
1.9
54
98.2
100.0
1
1.8
55
100.0
Org Beh (Organizational Behavior)
Frequency
Valid
Percent
Valid
Percent
Cumulative
Percent
100.00
2
3.6
3.6
3.6
75.00
25
45.5
45.5
49.1
50.00
17
30.9
30.9
80.0
25.00
8
14.5
14.5
94.5
.00
3
5.5
5.5
100.0
55
100.0
100.0
Total
MIS (Management Information Systems)
Frequency
Valid
Percent
Valid
Percent
Cumulative
Percent
100.00
31
56.4
56.4
56.4
80.00
16
29.1
29.1
85.5
60.00
5
9.1
9.1
94.5
40.00
3
5.5
5.5
100.0
Total
55
100.0
100.0
ETHICS (Business Ethics)
Frequency
Valid
Percent
Valid
Percent
Cumulative
Percent
100.00
8
14.5
14.5
14.5
80.00
15
27.3
27.3
41.8
60.00
26
47.3
47.3
89.1
40.00
6
10.9
10.9
100.0
Total
55
100.0
100.0
STRAT (Corporate Strategy)
Frequency
Valid
Percent
Valid
Percent
Cumulative
Percent
100.00
18
32.7
32.7
32.7
80.00
25
45.5
45.5
78.2
60.00
11
20.0
20.0
98.2
40.00
1
1.8
1.8
100.0
Total
55
100.0
100.0
MGMT (Strategic Management Seminar)
Frequency
Valid
Percent
Valid
Percent
Cumulative
Percent
100.00
2
3.6
3.6
3.6
80.00
21
38.2
38.2
41.8
60.00
20
36.4
36.4
78.2
40.00
9
16.4
16.4
94.5
20.00
3
5.5
5.5
100.0
Total
55
100.0
100.0
QUANT (Quantitative Analysis)
Frequency
Valid
Percent
Valid
Percent
Cumulative
Percent
100.00
14
25.5
25.5
25.5
80.00
16
29.1
29.1
54.5
60.00
19
34.5
34.5
89.1
40.00
4
7.3
7.3
96.4
20.00
2
3.6
3.6
100.0
Total
55
100.0
100.0
MKTG (Marketing)
Frequency
Valid
Percent
Valid
Percent
Cumulative
Percent
100.00
20
36.4
36.4
36.4
80.00
21
38.2
38.2
74.5
60.00
9
16.4
16.4
90.9
40.00
5
9.1
9.1
100.0
Total
55
100.0
100.0
IB (International Business)
Frequency
Valid
Percent
Cumulative
Percent
100.00
17
30.9
30.9
30.9
80.00
26
47.3
47.3
78.2
60.00
10
18.2
18.2
96.4
40.00
2
3.6
3.6
100.0
Total
55
100.0
100.0
Valid
Percent
ACTG 605 Accounting (Guay) *Correct answers are underlined, and have an “X” after them. 1. Atlantic Corporation reported the following amounts at the end of the first year of operations: contributed capital $200,000; sales revenue $800,000; total assets $600,000; dividends declared $40,000; and total liabilities $320,000. What are Atlantics' retained earnings at the end of the year and how much expenses were incurred during the year? A. Retained earnings are $80,000 and expenses incurred totaled $680,000. X B. Retained earnings are $80,000 and expenses incurred totaled $720,000. C. Retained earnings are $280,000 and expenses incurred totaled $480,000. D. Retained earnings are $280,000 and expenses incurred totaled $520,000. 2. Which of the following is an objective of the external audit of a company's financial statements? A. To provide a forecast of the company's future earnings. B. To assure no fraud has been committed by the company's management. C. To provide credibility and assurance that the financial statement information conforms with generally accepted accounting principles in all material respects. X D. To detect all accounting errors made by the accounting system and employees. 3. KAJ Incorporated purchased a machine costing $100,000 by paying $20,000 cash and signing an $80,000 note payable. How would this transaction be reported within the cash flow from financing activities section of the cash flow statement? A. An outflow of $100,000. B. An outflow of $80,000. C. An outflow of $20,000. D. It would have no effect. X 4. Which of the following is not one of the benefits of budgeting? A) understanding of the interaction among different parts of the firm B) ensures that resources are allocated to value‐added activities C) aids management in identifying areas requiring correction D) eliminates mistakes X 5. Limited liability means: A. A company is only liable for an amount that is established by a pre‐set limit B. Creditors are limited to just the cash available in the company at the time of the loss C. Creditors of a company can only claim the assets of the firm and not the assets of the owners of the firm X D. Creditors of a firm can claim all the assets of a company but only a limited amount of the owner's personal assets BFIN 681Financial Management (Costa) 1. What is the effective annual rate of 6% compounded quarterly? [Nom = 6, C/Y = 4, Eff = 6.1364] A)
5.37% B)
6.00% C)
6.14% X D)
7.50% E)
24.00% 2. Given the following cash flows, what is the internal rate of return? Today 1st year 2nd year 3rd year 4th year ‐1000 200 350 800 1,125 [CFo = ‐1000, CF1 = 200, CF2 = 350, CF3 = 800, CF4 = 1125, IFF = 35.1915] A) 25.6% B) 28.9% C) 32.3% D) 35.2% X E) 36.4% 3. Your firm is considering leasing a new radiographic device. The lease lasts for 3 years. The lease calls for 4 payments of $25,000 per year with the first payment occurring immediately. The computer would cost $140,000 to buy and would be straight‐line depreciated to a zero salvage value over 3 years. The actual salvage value is negligible because of technological obsolescence. The firm can borrow at a rate of 12%. The corporate tax rate is 40%. What is the after‐tax cash flow from leasing relative to the after‐tax cash flow from purchasing in years 1‐3? [$‐25,000(1 ‐ .40) ‐ ($140,000/3)(.40) = $‐15,000 ‐ $18,667 = $‐33,667] A) ‐$18,667 B) ‐$3,667 C) ‐$33,667 X D) ‐$71,667 E) None of these 4. Your firm sells $2,000 worth of goods in December, $1,700 worth in January, $1,500 in February and $1,600 in March. Your cost is 60% of the retail price. You have a receivables period of 30 days and a payables period of 45 days. You buy your products two months prior to selling them. Which one of the following statements is correct given this information? [January disbursements = (45 ÷ 90) × (.60 × $1,700) + (45 ÷ 90) × (.60 × $1,500) = $960] A) The accounts payable balance at the end of February is $750. B) Your January disbursements to your suppliers are $960. X C) Your February disbursements to your suppliers are $900. D) Your March disbursements to your suppliers are $930. E) Your beginning accounts payable balance as of January 1st is $450. 5. The Lemon Company made a credit sale of $15,000. The invoice was sent today with the terms, 1/10 net 30. This customer normally pays at the net date. If your opportunity cost of funds is 7% the expected payment is worth how much today? (Hint: Use daily compounding) [$15,000/(1.07)30/365 = $14,916.82] A) $14,883 B) $14,917 X C) $15,000 D) $16,233 E) None of these. BMGT 640 Organizational Behavior (Smith) 1. You are starting up a small high‐tech firm and will mostly employ highly skilled programmers. Their main responsibilities will be to solve complex problems. Which of the following are factors that you need to consider when motivating your new employees? A. Performance‐based‐pay and rewards should definitely be used to help to improve motivation B. Each employee should be recognized for their individual differences and these differences should be nurtured C. The jobs should be designed to be meaningful and foster a sense of contribution and belonging to the organization D. B and C X E. All of the above 2. You have just taken over as the manager of a team of 6 employees in a large retail store chain. The team is responsible for working together to create and implement the store’s marketing strategy. What do you need to do in order to effectively lead the team? A. Identify the stage of team development that the team is currently in B. Help the team to identify clear rules of behavior and to translate their common purpose into specific goals C. Identify each individuals team role and job responsibilities D. B and C E. All of the above X 3. You are the manager of a local natural foods grocery store that has been very successful for many years. One of the main reasons that the grocery store has been so successful is that there have not been any other natural food stores around. A recent competitor has moved into town and is starting to take significant market share. You need to make many changes in the store in order to stay in business. Your employees don’t really understand the impact of the competitor and don’t feel that they need to do their jobs any differently. What should you do when trying to make the organizational changes? A. Build on what is currently working in the grocery store B. Create a vision and a sense of urgency so that they employees understand why they need to do things differently and they have a clear sense of what is trying to be achieved C. Become a follower and facilitate positive deviance D. A and B E. All of the above X 4. In terms of making decisions, which of the following is generally NOT a barrier to good decision making: A. People generally give preference to people that are part of their ‘in‐group’ B. People often favor themselves and claim too much credit C. People generally give a disproportionate weight to the last information that they are given X D. People prefer decisions that perpetuate the status quo E. People generally seek out information that supports their existing point of view 5. What are the key lessons about leadership based on the readings done in the Organizational Behavior class? A. Leaders need to be larger‐than‐life B. Leaders need to actively listen to their employees C. Leaders need to relinquish a measure of control over the content of organizational communications D. B and C X E. All of the above BMIS 574 (Lawrence) 1. The difference between proprietary and infrastructural technologies is that: A. Proprietary technologies are owned by a single company. X B. Proprietary technologies are more far‐reaching, affecting more people. C. Proprietary technologies are those that are controlled by the government. D. Proprietary technologies are primarily used in distribution 2. According to Carr, as a technology matures, its use and application: A. Becomes differentiated as each company learns how to adapt it. B. Becomes more standardized. X C. Gains elements of regional and local uniqueness due to world‐wide deployment. D. Becomes widespread, but it is used much differently in different industries. 3. When using two factor authentication the user must: A. enter a valid username and complex password from a secure browser B. enter a valid username and complex password C. use a secure VPN D. enter a valid username, password and a code generated from an app on your phone or sent as a text message. X 4. Which application demonstrated in class creates and manages complex passwords such as: fd78Aqb2KIJWiLxrvHsF. A. Evernote Premium B. Lastpass X C. Basecamp D. Teamviewer 5. A disruptive innovation often: A. appeals to less sophisticated users B. doesn’t meet the performance requirements of the most sophisticated users. C. is simpler than leading edge products. D. All of the above. X BMGT 650 Business Ethics (Evans) 1. The ethical theory that proposes that justice is achieved by maximizing the good for the greatest number of people is: a. Utilitarianism X b. Libertarianism c. Deontological d. Rawlsianism 2. The ethical theory that has as its foundation respect for an individual as an end in themselves as opposed to a means to an end is: a. Utilitarianism b. Libertarianism c. Deontological X d. Rawlsianism 3. Beyond making decisions that are within the bounds of criminal and civil law, the best guidance a decision‐maker can obtain would be from: a. the articulated positions of an advocacy group b. the ethical standards of their profession X c. the positions outlined by their political ideology d. an analysis of the best outcomes from a decision 4. You work for an accounting firm that is encouraging clients to place funds in a tax‐shelter that is not allowed under IRS rules. Why would it be unethical to place clients into such tax shelters? a. because sheltering income from taxes is unethical b. because steering clients toward particular investment vehicles is unethical c. because the risk associated with investments places clients at risk d. because these specific tax‐shelters are illegal. X 5. It is a common practice in your industry for company representatives to receive gifts and other valuable consideration from clients as part of the client relationship culture. There is no state or federal laws prohibiting these “favors”. Which statement best describes the ethical implications of this practice. a. This practice is ethical because it is not illegal. b. This practice is unethical because it involves receiving compensation from clients. c. This practice is ethical because it is a common practice in the industry. d. This practice is unethical because it appears inappropriate by your professional standards. X BMGT 604 Competitive Strategy (Uhlenbruck) 1. A company’s strategy isn’t likely to perform as well as it could unless a.
its several pieces are mutually reinforcing. b.
the overall business strategy is well supported by functional strategies. c.
managers have bought into the main components of the strategy. d.
it fits well with both internal and external aspects of the company’s situation. e.
all of the above. X 2. One strategic reason for conducting a SWOT analysis for a company is that a.
it highlights those areas in the company’s cost chain where important differences in relative costs of competing firms can occur. b.
it helps strategy‐makers create fit between the company’s internal capabilities and its external situation. X c.
it enables a company to assess its overall competitive position relative to its key rivals. d.
it allows a company to compare its market share, measures of profitability, and sales with its key competitors. 3. Sustainable competitive advantage typically comes from: a.
individual resources and/or capabilities. b.
one very outstanding resource. c.
several outstanding resources acting independently. d.
the integration of several resources and capabilities. X 4. In which of the following situations does a broad differentiation strategy make the most sense? a.
buyers from this industry are split into different groups, each of which has different needs. X b.
customer needs are primarily satisfied by the price of the product. c.
there is a lot of technological change. d.
there are low barriers to exit and entry. e.
the industry is in the maturing stage of the life cycle. 5. Whether an industry has big economies of scale is strategically important because a.
they increase the volume and market share needed to be cost competitive. X b.
they raise capital requirements. c.
scale economies push prices and profit margins down. d.
they often create cost differences among fully versus partially versus nonintegrated firms. BMGT 665 Strategic Management (Braun) 1) Which one of these answers is incorrect regarding U.S. recessions? A) They occur, on average, every 6 years. B) They represent one of the most destructive external shocks to companies. C) They cannot be fought, only tolerated, by businesses. X D) Companies can gain a competitive advantage during recession. 2) Which three represent the main categories of innovations of business models? A) Pricing – Product ‐ Delivery B) Content – Structure – Governance X C) Mergers – Acquisitions ‐ Divestitures D) Functional – Divisional ‐ Matrix E) Mass – Fragmented ‐ Segmented 3) Which one of the following is a main tenet of Game Theory? A) allocentrism X B) zero‐sum games C) the pursuit of self‐interest D) static rules of the game E) Blue Ocean Strategy 4) The notion that the fate of companies in a particular industry is intertwined (co‐dependent) is central to which ONE strategic approach: A) business model innovation B) blue ocean strategy C) corporate turnaround D) strategic ecosystems X E) strategy mapping 5) “Lock in” refers to which strategic concept? A) degree to which you can transition your fixed costs to variable costs B) degree to which your supply chain responds to demand shocks C) degree to which a buyer will incur switching costs X D) degree to which your portfolio of businesses is diversified E) degree to which a customer’s needs are served by a finite universe of providers BMIS 650 Quantitative Analysis (Evans) 1. Which measure of central tendency would be most appropriate for income and other socio‐economic data: a. mean b. median X c. mode d. 25th percentile 2. The most appropriate chart/graph for continuous or scale data is: a. a histogram X b. a bar chart c. a pie chart d. a box plot 3. In regression analysis, R2 is best interpreted as: a. the impact of seasonal variables on the dependent variable b. the statistical significance of the independent variables c. the slope of the regression line d. the proportion of variance explained by the independent variable(s) X 4. The best interpretation of a statistically significant correlation between a set of predictor variables and the dependent variable (the variable being forecast) is: a. the predictor variables cause the dependent variable. b. the predictor variables and the dependent variables occur randomly. c. the predictor variables explain a reliable amount of the change in the dependent variable. X d. the slope of the regression line is essentially zero. 5. Underlying every method of forecasting is the assumption that: a. there are causal relationships among the independent and dependent variables. b. seasonal effects have been measured and separated from the trend. c. the data exhibit no discernable trend or pattern over time. d. the historic behavior of variables can be extrapolated into the future. X BMKT 660 Marketing Management (Stan) 1. Which of the following statements best define the concept of customer value? A. all the benefits a customer receives when buying a product B. all the benefits received minus the price paid when buying a product C. all the benefits received minus all the costs incurred throughout a product consumption experience X D. all the utilities derived from a product E. the total revenue received from a customer during her lifetime 2. A viable target market segment should ________ A) have needs that can adequately be served by the marketer X B) not be reachable by other organizations C) have the same needs as similar‐sized groups D) be the most profitable possible target market E) be the largest possible market 3. Which if the following is the most appropriate segmentation basis? A. Gender B. Age C. Lifestyle D. Life stage E. Benefits sought X 4. A perceptual map is used to ________ A) compare and contrast consumer psychographic segments B) create consumer cross‐tabulations for marketing research C) locate consumers within a primary metropolitan statistical area (PMSA) D) determine how consumers position products in relation to one another X E) identify the critical stage of the targeting process for the marketer 5. A physician might deal with potential problems associated with the ________ characteristic of services by providing physical cues such as her medical diplomas hanging on the wall A) intangibility X B) perishability C) variability D) inseparability E) personalization BMGT 685‐ International Business (Shooshtari) 1. Assume the current exchange rate between the U.S. dollar and Japanese Yen is $1=100 JPY. How will the exchange rate change if over time Japan experiences a higher rate of inflation than the U.S. during the same time period? a. Japanese Yen will sell at a forward premium compared to the U.S. dollar b. Japanese Yen will sell at a forward discount compared to the U.S. dollar X 2. How has the formation of the European Union helped the economies of member countries within EU? a. It helped improve economic efficiency due to greater competition among EU firms b. It gave EU countries greater economic clout in dealing with major trading partners such as the United States. c. It helped promoted greater cooperation among EU countries due to economic interdependence. d. All of the above are correct X 3. Wal‐Mart has been entering international markets by leveraging its core competencies in distribution and logistics. Wal‐Mart’s strategy can be described as: a. International strategy X b. Localization strategy c. Global strategy 4. The ________ is the most widely traded currency in the world. a. pound b. yen c. euro d. U.S. dollar X e. Renminbi 5. A ________ staffing policy considers only the citizens of the home country as the best people for key jobs throughout the organization. a. ethnocentric X b. polycentric