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As long as the COVID-19 emergency will endure, the Financial Management Model’s exam will be carried out online. As the emergency will finish, the standard way will be adopted again.
Online exam.
The online exam is only oral and is composed of theoretical questions and exercises in Excel to be discussed and solved in front to the Exam Committee. The theoretical questions are offered as closed-answers and aim to test the understanding of a student on topics like probability models, random variables, linear programming, linear algebra, financial portfolio theory, debt and financing instruments. The Excel exercises aim to verify the practical knowledge and skills in the use of spreadsheet to solve small size mathematical, economic and financial problems like matrix and vector manipulation, calculation of table of frequencies and probability functions, linear programming, conditional probabilities and Bayes rule, decision and scenario trees, financial function, financial portfolio, conditional calculation and data search function.
Standard exam.
The standard exam is a two step process. First a written/practical exam, usually consisting of three exercises. Each exercise usually requires to discuss briefly the theoretical background of a given topic and then proposes a decision problem inspired to real economic or financial cases. The solution process consists of extracting the relevant info from the text, adopting a correct decision model and solving the problem through the electronic spreadsheet or occasionally analytically. To solve correctly these exercises a student needs to have both a clear theoretical understanding of the different kinds of problem and their properties as well as a good knowledge and control of the spreadsheet functions and tools. The written exam lasts two hours.
The second step is an oral exam, focusing on the theoretical contents of the course and aiming to check the thorough understanding of the fundamental concepts of probability models, random variables, linear programming, linear algebra, financial portfolio theory, debt and financing instruments. To access the oral exam, students must first pass the written/practical one.