Acts 120
Spring 2013
Page 1
January 28, 2013
TO: Students Enrolled in Acts 120
Accompanying this memo is the syllabus for this course. In it you will find information about grading,
quizzes, tests, and how to get assistance in this course, as well as the tentative schedule for this semester.
I have tried to state the policies for this course as clearly as possible and it is your responsibility to
familiarize yourself with the policies and procedures and to follow them. Be sure to carefully review the
attached document.
A few items need additional emphasis. Very few students are able to master the material in this course
without keeping up on a regular basis. You expect me to be prepared for every class, and I will be. In
return, I expect you to be prepared. This means you must do your reading, attend class, and study your
class notes before attempting the homework. Homework problems should be thought of as practice test
questions and you should try to work the problems under those conditions. Working with others on
homework assignments is acceptable and may be very helpful to you; however, you should not copy the
work from others - this provides no benefit to you. I will gladly help you if you are unable to work the
assigned problems; however, you must have attempted the problems before you come to me for help.
Working problems will take a bit of time so you should carefully review your work. If you made errors
it is important to learn how to avoid these errors in the future. If you do not do this you will have done
the work and reaped only half the benefit. I will not collect all the homework assignments. However
you are responsible for completing all homework assignments made. If you do not do your homework
on schedule, you will only create more problems for yourself since new topics taught depend on your
understanding the prior topics.
This class is NOT a review class for Exam FM. This class will give you the fundamentals for Interest
Theory.
Prof. Paul S. Judd
The CBPA Promise Statement
The CBPA prepares our learners to succeed as leaders and global citizens by bringing the world into the classroom and the classroom into the world.
Our learners will be:

Proficient in their Fields

Strategic Problem-Solvers

Effective Communicators

Inclusive Leaders

Ethical Stewards
Acts 120
Spring 2013
Page 2
CLASS MATERIALS:
The Theory of Interest, Third Edition, Stephen G. Kellison (ISBN 9780073382449)
Below is a link to the solutions for the exercises in Kellison
http://highered.mcgraw-hill.com/sites/0073382442/information_center_view0/solutions_manual.html
GOALS AND PREREQUISITES:
Measurement of interest; solution of interest problems; basic and general annuities; yield rates;
amortization schedules and sinking funds; bonds; yield curves; duration and immunization; stochastic
approaches. Prereq.: MATH 070
OFFICE HOURS:
Aliber Hall
M
T
W
R
F
#311,
271-2163
11:00-11:30
9:30-11:30
11:00-11:30
9:30-11:30
none
You may also schedule an appointment at other mutually agreeable times. You may reach me at home in
the evenings, if necessary, at 993-2224, but not after 9:00 PM. You may also reach me by email at:
paul.judd@drake.edu. If I need to contact you, I will use your Drake email address as my first option,
your phone number as my second option. It is your responsibility to check your Drake email daily.
LECTURES:
I expect that you will read the assigned material before coming to class each day. Therefore, lectures
will consist of a review of the material in your text, the application of the text's material in examples,
interpretations of the results, and additional materials. If you have questions about the lecture material,
please ask those questions in class. You are expected to bring your textbook and calculator to every
class.
Since the lectures/discussions are essential parts of this course, there are a few rules that we will follow:
1.
We will start promptly at the scheduled time and remain for the entire class time.
2.
During lecture, be quiet. You may talk to your neighbor if you missed something, but do so
quietly and quickly. I will not tolerate continuous chatting. It is rude to me and to the other students. If
you don’t understand something I’ve said, ask me. Chances are good that someone else would like to
ask the same question.
3.
Cell phones, pagers or anything electronic must be turned off during class
4.
Take care of restroom visits prior to class.
5.
Do not make a habit of arriving late or leaving early. That is rude to me and the rest of the class.
Acts 120
Spring 2013
Page 3
You are responsible for all information shared during class. If you miss a class, it is up to you to learn
what happened during class. This includes changes in schedules, assignments made, etc.
ATTENDANCE is part of your grade. You will earn extra credit points for good attendance at the end
of the term. If you have perfect attendance, you will earn a 2% bonus to be added to your average. If
you have only one unexcused absence, you will earn a 1% bonus to be added to your average. If you
have two unexcused absences, you will earn no bonus, but you will have no penalty either. For each
additional unexcused absence, you will lose 2% off your average. Arriving late to class (after I have
taken attendance), without a legitimate excuse counts as a half of an unexcused absence. If you are
absent or late, but have a legitimate reason, that is okay, but you must tell me about it that day, by email
or in person. If you choose to not attend class, you also take the risk of missing an unannounced quiz.
HOMEWORK and QUIZZES:
As I mentioned before, homework will not be collected every class. However, I will assign some
problems to be turned in every few weeks. These must be handed in at the start of the class they are
due or points will be deducted. They need to be done neatly, in pencil and stapled if more than one page.
All work must be shown to receive credit. I will usually only pick a portion of the problems to grade.
These problems will be assigned as handouts in class. I may also give unannounced quizzes. You will
have only a short amount of time to do these quizzes. They will either be exactly the same as one of
your homework problems or similar. So, it will benefit you to have all assignments done on time to the
best of your ability. I may also give you unscheduled extra credit quizzes or assignments. If you miss a
class, for whatever reason, in which I give an assignment, it is your responsibility to find out what you
missed. If you don’t turn in an assignment because you did not know it was assigned, you will get a
score of 0. If you have a legitimate excuse for missing a class in which an assignment is due, get me the
assignment ahead of time, send in your assignment with a classmate, or bring it to my office before class.
Feel free to talk with me if you think a problem was misgraded. However, you must talk with me within
one week of my handing the assignment back in class.
TESTS:
Three tests will be given during the semester. These tests are not comprehensive. They are intended to
test knowledge shortly after the material is presented and to have you interpret numerical results. These
must be done in pencil and all work shown. You will be given 75 minutes to complete each of the tests.
Each one is worth 100 points. If you miss a test without a valid excuse, you will be given a score of
zero. Bring your calculator to each test. Calculators must be removed from their cases.
Calculators must be one of the SOA approved calculators. These include:
BA35
BAII Plus *
BAII Plus Professional *
TI-30Xa
TI-30XIIS, TI-30XIIB
TI-30XS, TI-30XB
* Strongly Recommended
Acts 120
Spring 2013
Page 4
Feel free to talk with me if you think a problem was misgraded. However, you must talk with me within
one week of my handing the test back in class.
LEGITIMATE CONFLICTS AND EMERGENCIES:
Legitimate conflicts: doctor's appointments, interview trips, athletic team trips, being maid of honor or
best man at a wedding, business trips, etc. Since you know about these conflicts in advance, you must
contact me and make arrangements to take care of your obligations before the class period at which a
test scheduled.
Emergencies: your illness or a serious illness or death in your family. If you are unable to take a test
because of an emergency, I will expect a written excuse from your doctor or other official. For you to
not be given a grade of zero, you must inform me by phone or email of the emergency before the class
period at which the test is to be given and follow that up with the written excuse. A makeup test will be
scheduled at MY convenience.
Unacceptable excuses include running out of gas, work conflicts, wanting to leave early on vacation,
school committee meetings, oversleeping (set two alarms if needed) etc. A score of 0 will be given for
such excuses.
Let me know any time you will miss class either by phone or email. If you miss a surprise quiz, but you
have told me that you are sick or have another legitimate excuse, I will not count that quiz against you.
If you miss extra credit, that is your loss even if you have an excuse.
DISABILITY:
If you have a disability and require special accommodations to maximize your performance in this
course, please contact me. All conversations we have on this subject and any accommodations made
will be kept confidential.
Any student who has a physical or mental disability that substantially limits his/her ability to perform in
this course under normal circumstances should contact Student Disability Services, 271-1835, to request
any accommodations. Request must be received and approved (including instructor approval) at least
one week before the necessary accommodation. All relevant information will be kept strictly
confidential.
CHEATING:
Drake University and the College of Business & Public Administration (CBPA) expect students to
conduct themselves with the general principles of academic honesty. The CBPA’s Academic Integrity
Policy, URL, http://www.cbpa.drake.edu/cbpa_integrity_policy
applies to this course. The consequences of violating this policy vary given my evaluation of the
severity of the dishonesty. A violation can result in a grade of zero on the test or assignment, a reduction
in the course grade, an “F” for the course grade, or even expulsion from the university. So, make sure
you read the policy and ask for clarification of any part that is unclear to you.
Cheating is not allowed in this class. To discourage this activity, I will assign seats for tests and the final
exam. If I notice that you appear to have trouble keeping your eyes on your own paper during a quiz, test
Acts 120
Spring 2013
Page 5
or an exam you will be asked to sit in the front row to complete the quiz, test or exam. If it is evident
that you have copied from a neighbor you will receive a score of 0 on that particular quiz, test or exam.
Remember to keep your eyes on your own paper at all times during a quiz, test or exam. When you turn
in your test or exam you will need to show me either a driver’s license, student ID or some other form of
picture identification. If you do not, your paper will not be returned to you and you may get a grade of 0
on that paper.
If you notice that cheating is occurring in class, it is your obligation to let me know about it. I will treat
your information confidentially.
COURSE EVALUATIONS:
Course evaluations are conducted at the end of the semester.
GRADING SCALE:
Grade
A
B
C
D
F
Percent
90 - 100%
79 - <90%
68 - <79%
57 - <68%
0 - <57%
I reserve the right to lower the grading scale, but I will not raise it.
Acts 120
Spring 2013
Page 6
Acts 120
Following is a tentative schedule for the semester. We may go faster or slower
depending on how we are progressing as a class. You are responsible for
any changes that are announced in
class.
Monday, January 28, 2013
Wednesday, January 30, 2013
Monday, February 04, 2013
Wednesday, February 06, 2013
Monday, February 11, 2013
Wednesday, February 13, 2013
Monday, February 18, 2013
Wednesday, February 20, 2013
Monday, February 25, 2013
Wednesday, February 27, 2013
Monday, March 04, 2013
Wednesday, March 06, 2013
Monday, March 11, 2013
Wednesday, March 13, 2013
Monday, March 18, 2013
Wednesday, March 20, 2013
Monday, March 25, 2013
Wednesday, March 27, 2013
Monday, April 01, 2013
Wednesday, April 03, 2013
Monday, April 08, 2013
Wednesday, April 10, 2013
Monday, April 15, 2013
Wednesday, April 17, 2013
Monday, April 22, 2013
Wednesday, April 24, 2013
Monday, April 29, 2013
Wednesday, May 01, 2013
Monday, May 06, 2013
Wednesday, May 08, 2013
TBA: Given during finals week
1.2-1.6
1.7-1.9
1.9-1.10 2.2-2.5
2.5 2.6 3.2, (Quiz)
3.2-3.4
3.5-3.7
3.8 4.2-4.4
4.5-4.8
Review
Test 1 Chapters 1-3
4.9 5.2
5.3-5.4
5.6 6.3
6.4-6.6
Spring Break
Spring Break
6.7
6.10 7.2-7.4
7.5
Review
Test 2 Chapters 4-6
7.6 7.7
9.4 10.2 10.3 10.5
10.4 11.2
11.3-11.5
11.6
11.6 11.7
11.8
Catch Up
Review
Test 3 Chapters 7-11
Assign HW
HW Due
Assign HW
HW Due
Assign HW
HW Due
Consolidated Final Time
Recommended Minimum Homework Assignments
Chapter
Kellison Chapter 1
Kellison Chapter 2
Kellison Chapter 3
Kellison Chapter 4
Kellison Chapter 5
Kellison Chapter 6
Kellison Chapter 7
Kellison Chapter 9
Kellison Chapter 10
Kellison Chapter 11
Problems
4 7 8 9 11 13 14 16 17 19 22 25 28 29 30 32 34 35 37 39 41
3 4 6 8 12 13 14 16 17 19 26 27
1 2 5 7 8 10 12 17 18 19 24 25 27a 29 30 32
1 2 3 5 7 8 9 11 13 14 17 20 23 25 26 27 28 30 36 37 38 39 40
1 3 5 8 9 10 11 12 14 17 19 20 22 23 25 26 27 29 30 31
1 3 5 6 7 12 13 14 16 18 20 21 24 25 35 36
1 2 3 6 8 12 13 15 19 21 24 25 32 35
345
1 2 5 8 9 11 15 16 17
2 4 5 8 11 15a 19 25 26 30 31
Acts 120
Spring 2013
Page 7
Print Name_______________________________________________________________
Phone
Number___________________________________________________________
Left or Right Handed? (circle one)
L
R
I have read and understand the syllabus.
Signature__________________________________________________________