{"id":447,"date":"2012-08-30T01:28:35","date_gmt":"2012-08-30T05:28:35","guid":{"rendered":"https:\/\/rossweb.bus.umich.edu\/academics\/academics\/waiver-exam-faq\/"},"modified":"2023-05-13T09:29:40","modified_gmt":"2023-05-13T13:29:40","slug":"waiver-exam-faq","status":"publish","type":"page","link":"https:\/\/rossweb.bus.umich.edu\/academics\/curriculum\/core-course-waivers\/waiver-exam-faq\/","title":{"rendered":"Waiver Exam FAQ"},"content":{"rendered":"\n<ul class=\"wp-block-list\"><li><p><a href=\"\/academics\/core-curriculum\/core-course-waivers\">Return to Waiver Home<\/a><\/p><\/li><li><p><a href=\"\/academics\/waiver-exam-schedule\">Waiver Exam Schedule<\/a><\/p><\/li><\/ul>\n\n\n\n<figure id=\"AutoNumber1\" class=\"wp-block-table is-style-regular\"><table><thead><tr><th>Questions<\/th><th>\u00a0FIN 551 (Eve MBA)<\/th><th>TO 501\u00a0(Eve MBA)<\/th><\/tr><\/thead><tbody><tr><td>\n<p>How many times may I take the exam?<\/p>\n<\/td><td>\n<p>Once<\/p>\n<\/td><td>\n<p>&nbsp;<\/p>\n<p>Once<\/p>\n<p>&nbsp;<\/p>\n<\/td><\/tr><tr><td>\n<p>Can I bring any electronic devices (e.g. calculator, laptop, Palm)?<\/p>\n<\/td><td>\n<p>You are permitted to use electronic devices, including a calculator or a laptop computer if brought. None will be provided at the exam.<\/p>\n<\/td><td>\n<p>A calculator with square root, logs and exponents only. Laptops, cell phones, PDAs, and Internet capable devices are not allowed.<\/p>\n<\/td><\/tr><tr><td>\n<p>Can I bring any notes or books?<\/p>\n<\/td><td>\n<p>This is an open book, open notes exam. &nbsp;However, you are not allowed to communicate with anyone during the exam.<\/p>\n<\/td><td>\n<p>No books and no notes.&nbsp; We will provide formulae and tables.<\/p>\n<\/td><\/tr><tr><td>\n<p>Do I need to pre-register for the exam?<\/p>\n<\/td><td>\n<p>Yes, please notify <a href=\"mailto:RossRegistrarsOffice@umich.edu?subject=TO%20501%20Waiver%20Exam\">RossRegistrarsOffice@umich.edu<\/a> of your intent to participate as soon as possible.<\/p>\n<\/td><td>\n<p>Yes, please notify <a href=\"mailto:RossRegistrarsOffice@umich.edu?subject=TO%20501%20Waiver%20Exam\">RossRegistrarsOffice@umich.edu<\/a> of your intent to participate as soon as possible.<\/p>\n<\/td><\/tr><tr><td>\n<p>Who should take the waiver exam?<\/p>\n<\/td><td>\n<p><strong>Full-Time&nbsp;MBA<\/strong>:&nbsp;&nbsp;You should&nbsp;think seriously before taking the waiver exam.&nbsp; Consider taking FIN 513 in Fall A if you have waived something else for an opening in your schedule. FIN 513 would also fulfill the finance core requirement. You&nbsp;may want to&nbsp;take the waiver exam only if you have a strong academic background in finance and appropriate real world experience&nbsp;.<\/p>\n<p><strong>Evening&nbsp;MBA<\/strong>:&nbsp;You may&nbsp;consider taking the waiver exam if you have had a graduate-level finance course and two-to-three years of work experience&nbsp;in the finance field.<\/p>\n<\/td><td> <p>In the past, students who have had a good chance of passing the exam either had:<\/p> <ol> <li><p>A good introductory statistics course and substantial statistical experience at work<\/p> <\/li> <li><p>Two or more 14 week courses in statistics; at least one course beyond the introductory class.<\/p> <\/li> <\/ol> <p>\u00a0<\/p> <\/td><\/tr><tr><td>\n<p>What will the exam cover?<\/p>\n<\/td><td>\n<p>This exam will test you on the fundamentals of Financial Management.&nbsp; The basic concepts that will be covered on the waiver exam are: Time Value of Money, Capital Budgeting, Risk and Return and Efficient Markets Hypothesis..&nbsp; A good way to prepare for this exam is to review Chapters 1 through 15 of&nbsp;Corporate Finance&nbsp;by Ross, Westerfield, and Jaffee, 8th Edition.&nbsp; Please gauge your knowledge of the topics by doing as many problems as you can.<\/p>\n<p>The exam will have 5 problems, each with multiple parts. &nbsp;There will be no multiple-choice type of questions.<\/p>\n<\/td><td>\n<p>Constrained Optimization, Probability, Binomial and Normal Distributions, Decision Analysis, Descriptive Statistics, Inference, Hypothesis Testing, Correlation, Regression, Forecasting with Regression<\/p>\n<\/td><\/tr><tr><td>\n<p>May I waive the course because I have taken a similar course before, or because I would rather take something else?<\/p>\n<\/td><td>\n<p>No, you must pass the waiver exam to waive the course.<\/p>\n<\/td><td>\n<p>No, you must pass the waiver exam to waive the course.<\/p>\n<\/td><\/tr><tr><td>\n<p>Do I have to know EXCEL or any particular software package to pass this exam?<\/p>\n<\/td><td>\n<p>No<\/p>\n<\/td><td>\n<p>No. There will be statistical output on the exam. We will provide a brief summary of the meaning of regression output.<\/p>\n<\/td><\/tr><tr><td>\n<p>Is there a practice exam?<\/p>\n<\/td><td>\n<p>No<\/p>\n<\/td><td>\n<p>No<\/p>\n<\/td><\/tr><tr><td>\n<p>Is there a book I should study?<\/p>\n<\/td><td>\n<p>A good way to prepare for this exam is to review Chapters 1 through 15 of&nbsp;<u>Corporate Finance<\/u>&nbsp;by Ross, Westerfield, and Jaffee, 8th Edition.&nbsp; Please gauge your knowledge of the topics by doing as many problems as you can.<\/p>\n<\/td><td>\n<p>Most introductory texts are sufficient, including: Ken Black,&nbsp;<u>Business Statistics<\/u>; Wiley &amp; Sons,&nbsp;<u>Management Science<\/u> (chapters on constrained optimization and linear, integer, and mixed programming); Powell &amp; Black, <u>Management Science<\/u><\/p>\n<\/td><\/tr><\/tbody><\/table><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Return to Waiver Home Waiver Exam Schedule Questions \u00a0FIN 551 (Eve MBA) TO 501\u00a0(Eve MBA) How many times may I take the exam? Once &nbsp; Once &nbsp; Can I bring any electronic devices (e.g. calculator, laptop, Palm)? You are permitted to use electronic devices, including a calculator or a laptop computer if brought. None will&#8230;<\/p>\n","protected":false},"author":4818,"featured_media":0,"parent":449,"menu_order":5,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"_seopress_robots_primary_cat":"","_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":"","_lmt_disableupdate":"","_lmt_disable":"","advgb_blocks_editor_width":"","advgb_blocks_columns_visual_guide":"","_kad_blocks_custom_css":"","_kad_blocks_head_custom_js":"","_kad_blocks_body_custom_js":"","_kad_blocks_footer_custom_js":"","_kadence_starter_templates_imported_post":false,"_kad_post_transparent":"","_kad_post_title":"","_kad_post_layout":"","_kad_post_sidebar_id":"","_kad_post_content_style":"","_kad_post_vertical_padding":"","_kad_post_feature":"","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false,"_kad_post_classname":"","ep_exclude_from_search":false,"footnotes":"","advanced-sidebar-menu\/link-title":"","advanced-sidebar-menu\/exclude-page":false},"categories":[61],"tags":[],"ep_post_type":[57],"class_list":["post-447","page","type-page","status-publish","hentry","category-uncategorized","ep_post_type-page"],"acf":[],"taxonomy_info":{"category":[{"value":61,"label":"Uncategorized"}]},"featured_image_src_large":false,"author_info":{"display_name":"rossitcmsadmins","author_link":"https:\/\/rossweb.bus.umich.edu\/academics\/author\/rossitcmsadmins\/"},"comment_info":"","coauthors":[],"author_meta":{"author_link":"https:\/\/rossweb.bus.umich.edu\/academics\/author\/rossitcmsadmins\/","display_name":"rossitcmsadmins"},"relative_dates":{"created":"Posted 14 years ago","modified":"Updated 3 years ago"},"absolute_dates":{"created":"Posted on August 30, 2012","modified":"Updated on May 13, 2023"},"absolute_dates_time":{"created":"Posted on August 30, 2012 1:28 am","modified":"Updated on May 13, 2023 9:29 am"},"featured_img_caption":"","featured_img":false,"series_order":"","_links":{"self":[{"href":"https:\/\/rossweb.bus.umich.edu\/academics\/wp-json\/wp\/v2\/pages\/447","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/rossweb.bus.umich.edu\/academics\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/rossweb.bus.umich.edu\/academics\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/rossweb.bus.umich.edu\/academics\/wp-json\/wp\/v2\/users\/4818"}],"replies":[{"embeddable":true,"href":"https:\/\/rossweb.bus.umich.edu\/academics\/wp-json\/wp\/v2\/comments?post=447"}],"version-history":[{"count":1,"href":"https:\/\/rossweb.bus.umich.edu\/academics\/wp-json\/wp\/v2\/pages\/447\/revisions"}],"predecessor-version":[{"id":1787,"href":"https:\/\/rossweb.bus.umich.edu\/academics\/wp-json\/wp\/v2\/pages\/447\/revisions\/1787"}],"up":[{"embeddable":true,"href":"https:\/\/rossweb.bus.umich.edu\/academics\/wp-json\/wp\/v2\/pages\/449"}],"wp:attachment":[{"href":"https:\/\/rossweb.bus.umich.edu\/academics\/wp-json\/wp\/v2\/media?parent=447"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/rossweb.bus.umich.edu\/academics\/wp-json\/wp\/v2\/categories?post=447"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/rossweb.bus.umich.edu\/academics\/wp-json\/wp\/v2\/tags?post=447"},{"taxonomy":"ep_post_type","embeddable":true,"href":"https:\/\/rossweb.bus.umich.edu\/academics\/wp-json\/wp\/v2\/ep_post_type?post=447"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}