2023 Real Estate Investments I #33450
INSTRUCTIONS RE: FINAL EXAM
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As discussed in class, the closed-book/closed-note take-home final exam has been posted to
Canvas (Lecture Notes | Week #10 | Final Exam) and the protocol is as follows:
• EXAM COVERAGE: Each of the four weeks’ worth of notes – since the midterm exam – will
receive roughly equal treatment. However, if we haven’t discussed something in class, then it
won’t be on the exam. Moreover, approximately 60% of the exam will be quantitative and 40%
qualitative.
As you study for the final, focus on the “key takeaways” highlighted with each week’s note, the
homework problems and those exhibits (found in the notes) discussed in class. Additionally, the
complexity of the tasks found in the cases and/or homework problems are often difficult to
replicate on the final (because the answers consume so much of your time); instead, the exam
problems will be more discrete – like those illustrated in the sample final (Canvas | Lecture
Notes | Week #10).
• CLOSED-BOOK/CLOSED-NOTE EXAM: The instruction sheet of the sample final will be
identical to the actual exam. You are expected to follow all directions, including (but not limited
to) that this is a closed-book/closed-note exam – including, for instance, you are not permitted
to use the class-provided spreadsheets in preparation of your solutions.
• DEADLINE: You can download it anytime you find comfortable between now and next Saturday
morning – provided you complete the exam and upload your solution set to Canvas before 12:00
PM (noon) on Saturday, March 11th.
• TIME CONSTRAINT: However, once you download the exam file, you’ll have 2.5 hours to
complete the exam. (That is, Canvas permits a tracking feature.) So, do not download until you
are ready to prepare your solution set within the 2.5-hour time limit (or 2.0-hour time limit if
you are preparing a handwritten solution). That said, if some unforeseen complication arises, you
may have a few extra minutes to complete your solution – however don’t abuse the privilege (as
Canvas also indicates when you download or upload documents). At the end of the 2.5 hours (or
2.0 hours, as the case may be), you are to post your solution set to Canvas.
• SOLUTION FORM: Please use the Instructor-provided “Solution Form” (found on Canvas |
Week #11). Completing the footer will automatically place your name on subsequent pages and
will indicate the number of pages you used to complete this examination: “1 of _.”
o Computer-Generated Solution: If it’s a qualitative answer, simply type your answer into the
Word document. If it’s a quantitative answer, (legibly) paste your work from an Excel
spreadsheet into the Word document – the sample final illustrates this point: certain
quantitative solutions are pasted from Excel into Word. (If you like, you can also post
your Excel file to Canvas. However, it is not acceptable to simply say “see Excel”; the
Excel file will only be used in case there’s some question over the grading of your exam
– see below regarding re-grade policy.)
o Handwritten Solution: If you’re preparing a handwritten solution (in which case, you may
use your computer to assist with the quantitative problems), you should complete
the front page of the Word document and print it before you begin the test.
Before you begin the exam, your cover page should have your name as it appears in Canvas
and indicate the location of your mail folder (Harper/Gleacher/Other)
• EXAM DELIVERY: If you have used a computer to prepare your Solution Set, then:
o Upload your final exam to Canvas (Lecture Notes | Week #10 | Final Exam). Choose
the section for which you are enrolled.
o Please be sure to upload your Word file. You may (but do not have to) upload your
Excel file in addition. However, your Word file will be graded.
o In doing so, use the following file-naming convention (using my name as an example):
“JPagliari_RE I Final.docx” (or “doc”, as the case may be).
If you have prepared a handwritten Solution Set, then fax it to 773/753-0579. Note: you will,
however, have 2.0 hours to complete the exam.
• PROFESSIONALISM: Prepare your Solution Set in a professional manner
• EXAM SCORING: Like the sample final, you will see an estimate of the number of minutes it is
expected for you to complete the problem. The total of these minutes equals two hours. (Note:
The sample final contains only one hour’s worth of questions.) The estimated minutes per
problem equals the total number of points to be awarded per problem. So, as a test-taking
strategy, be mindful of spending too much time on a problem worth relatively few points.
Additionally, as partial credit will be awarded, be sure to identify the formulas/calculations you
used; it is in your best interest to avoid simply writing a number as an answer, without explaining
how it was derived. [Because it is an un-proctored exam, please note any assumptions you have
to make because you believe one or more exam questions are ambiguous – identify the
assumption in your solution.]
• RETAIN EXAM: When completed, retain the exam; the solution set will be posted to Canvas
after the final-exam deadline.
• RE-GRADE REQUEST: As indicated in the course syllabus, you have 5 business days to request a
re-grade of your final exam. If you choose to do so, then email me an electronic copy of your
entire exam and indicate the question(s) you’d like reviewed for a possible re-grade and the
reason(s) for requesting a re-grade. When doing so, please copy the TA. Further note, your entire
exam may be re-graded. (In other words, I want to avoid being “cherry picked” – which, in this
context, means having only the more harshly graded responses reviewed while the more
charitably graded responses are overlooked.)
• HONOR CODE: Obviously, you are expected to abide by the Booth Honor Code and other rules
of the examination.
Good luck – and enjoy your spring break!!
Instructions re: Final Exam
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