24 Exam Instructions
24.1 Structure of the Final Exam
I expect that you arrive at the exam rooms 230 and 231 in the UWA business school 15 minutes before you receive the questions for your exam. Once you receive the question, you will have 15 minutes to prepare in room 231. You can use your computer during the preparation time and you can rely on any preparation you have done before. After 15 minutes, I will call you into room 230 and we will go over your answers to the questions. This is the final exam and will take 10 minutes. I will use the last five minutes to write up my impressions and then call in the next student. The exam audio will be recorded via Teams as a permanent record of the exam.
You exact schedule for when you need to arrive, when preparation starts, and when your exam starts is available on LMS in Assessments > Final Exam.
24.2 Content and Questions
The case study for the final exam is generated via generative AI. However, that does not mean that I just used ChatGPT or Claude to ask for a case study. What I did was actually a bit more convoluted than that. I collected a number of podcasts and their transcripts to make summaries of interviews with people in the hedge fund industry. I used these summaries to come up with realistic scenarios of what can happen in this industry. Furthermore, I also gave a large language model the lecture notes that you all have access to. I then gave it very precise instructions on how to combine the summaries of the podcast interviews, and the lecture notes to make an exam that would allow me to assess your knowledge of the lecture notes and the lectures. So what you get is a realistic sounding description, but I also realised that the LLM still makes mistakes. I manually corrected some of those mistakes but I have also left some of those mistakes in. We are going to interpret these mistakes as mistakes of the people in the case study and part of the exercise will be for you to be able to distinguish or notice when they make a mistake.
I have then written more than 20 questions. You will only have to answer three of them on the oral exam. The questions cover most of the units and at the same time some of the questions are quite similar to each other. I will generate over hundreds different sets of three questions which you will randomly draw at the start of your preparation time. I will make it so that you will have sufficient variety in your three questions, so that you will not just receive questions about one topic and also that you will have the opportunity to demonstrate your knowledge about all or most parts of the unit
I have made those questions available on LMS and you can prepare them before the final exam. You can prepare them together in your groups or with friends. However, be aware that all the questions have room for one or two follow-up questions and I am more than likely to ask you a follow-up question if your answer sounds too rehearsed or prepared. I will not let you get away with just answering the question by reading your answer from your computer.
24.3 Assessment
The oral exam will be assessed out of 50 points. The rubrics below outline the criteria for evaluation. I will assess each question separately on the four criteria in the rubric.
| Criteria | High Performance (42 - 50) | Good Performance (38 - 41) | Satisfactory (30 - 37) | Unsatisfactory (0 - 29) |
|---|---|---|---|---|
| Answer to the question | ||||
| Clarity and correctness of the answer. | The student provides a clear, concise, and correct answer to the question, demonstrating a deep understanding of the material. | The student provides a mostly correct answer with some additional insights or interpretation. | The student answers the question correctly but may lack depth or additional insights. | The student does not answer the question correctly or the answer is incomplete. |
| Clarification to follow-up questions | ||||
| Ability to elaborate and clarify. | The student provides thoughtful and detailed responses to follow-up questions, demonstrating a thorough understanding and ability to apply concepts. | The student provides adequate responses to follow-up questions with some additional insights or interpretation. | The student answers follow-up questions correctly but may lack depth or additional insights. | The student struggles to answer follow-up questions correctly or the answers are incomplete. |
| Relevance | ||||
| Relevance of the answer to the question. | The student focuses on the question at hand and does not introduce irrelevant tangents. | The student rarely strays away from the question. | The student sometimes strays away from the question. | The student goes on tangents that are not relevant to the question. |
| Specificity | ||||
| Use of specific examples and details. | The student uses specific examples and details from the case study to support their answer. | The student sometimes uses specific examples and details to support their answer. | The student rarely uses specific examples and details to support their answer. | The student does not use specific examples or details to support their answer. |