Feedbackonquiz1

(PleasenotethatthemarkpostedonMygradesisoutof5)
1) Distribution:
GRADE No. of students % of students Present 638 100% FAIL 45% 35 5.5% PC 46-49% 14 2.2% PASS 50-64% 73 11.4% CR 65-74% 67 10.5% DN 75-84% 145 22.7% HD 85% 304 47.6% Perfect score 199 31.2%

Iamverypleasedwithyourachievement.Youhavedonewellonaverage.Keepthisup.Asyoucansee fromtheabovedistributionofgrades: Morethan3inevery10students(31.2%tobeexact)achieveaperfectscore. Almost1inevery2students(47.6%tobeexact)scoresahighdistinction Theaveragemarkisadistinctionof81.6(outof100)withastandarddeviationof19.3.

MISTAKES No. of students % of students SD 13 2% NCPD 48 8% CUM / EX interest 17 3% Days Days from from SD to PCPD to NCPD NCPD 164 26% 171 27% T 133 21% R 72 11% CPP 48 8% P0 422 66% Padj 392 61%

Intermsofmistakes,asyoucanseefromtheabovedistributionofmistakes,itcomesmainlyfrom thenumberof6monthperiodsfromtheNCPDtothematuritydate(1inevery5students) thenumberofdaysbetweentheSDandtheNCPD(1inevery4students) thenumberofdaysbetweenthePCPDandtheNCPD(1inevery4students) Despitehavingthecorrectinputs,itseemsthatsomestudentsfindithardto recallthecorrespondingequations applythevaluesidentifiedtotheequations performthecomputations keepallthedecimalsintactthroughoutthecomputation,and/or reportthepricesto3decimalsaspermarketpractices. 2) GradingCriteria: Studentswhoareabletoidentifyalltheinputs,performallthecomputationsandreporttheprices correctlywillreceivethefullmarkof5. Ifstudentsareunabletoarriveatthecorrectprice(s),thenwewilllookattheworkingstoawardmarksto thecorrectinput(s) thecorrectequation(s)

thecorrectequation(s)withallthevariablessubstitutedbythecorrespondinginputsprovided (eveniftheinputsareincorrect) 3) GeneralFeedbackontherightapproach: Toarriveatthesamesettlementandadjustedpricesasthosereportedbythemarket,youneedtokeepall thedecimalsintactthroughoutthecomputationandreportthepricesto3decimals.Youalsoneedto supplythecorrectinputsandappropriateequationsasfollows: VDthedateonwhichyouobservetheyieldtomaturityandcomputethepriceofthebond SDthesettlementdatewhichis2workingdaysaftertheVD MDthematuritydatewhichalsosuggeststhemonthsinwhichthegovernmentpaysthecoupon interest NCPDthenearestcouponpaymentdatethatfollowsthesettlementdate.Notethatthe settlementdatemayfallontheNCPD PCPDthenearestcouponpaymentdatethatprecedesthesettlementdate. tthenumberof6monthperiodsbetweentheNCPDandtheMD rthediscountratewhichishalftheyield FVthefacevaluewhichis$100forthepurposeofbondpricing CPPtheamountofcouponinterestpersixmonthperiodwhichishalftheproductofthecoupon rateandthefacevalue fthenumberofdaysfromtheSDtotheNCPD,whichmayrangefrom0to183days,dividedby thenumberofdaysfromthePCPDtotheNCPD,whichmayrangefrom181to184days Ifthebondiscuminterest,then P0=(P+CPP)/(1+r)f,whereP=CPPxPVA(r,t)+FVxPVF(r,t)=discountthecashflowsbeyond theNCPDbacktotheNCPD,and Padj=P0(1f)xCPP Ifthebondisexinterest,then P0=P/(1+r)fand Padj=P0+fxCPP 4) GeneralFeedbacktoconfirmthemarkaspostedonMyGrades: Yourtutormayreturnthequiztoyoubrieflyduringtutorialsheldinweek6commencing23August.The purposeistoallowstudentstoknowthatthepapersaremarkedandthemarksshownonthepaperquiz arerecordedcorrectlyonMyGrades. 5) OneononeFeedback: Ifyouwish,youmayseeyourtutorprivatelyduringhis/herconsultationtimes(refertoBlackboard).The oneononefeedbackisopenfor1weekfromMonday30AugusttoFriday3September. Thepurposeofthisfeedbackprocessisto Ensurethatthepaperhasbeenmarkedcorrectly EnsurethatanymarkingmistakeiscorrectedandrelayedtoHenryforthepurposeofupdatingthe quizmarks

Provideconstructivefeedbacktohelpstudentsidentifyandlearnfromtheirmistakes,e.g.,finding thecorrectinputandusingittoreplacethecorrespondingvariableshowninthebondpricing equation,usingthecorrectandappropriateequationforbondsthatareeithercumorexinterest, andreportingthepricesto3decimalsaspermarketpractices. 6) Disputeovergrading: Thepurposeofthefacetofacefeedbackisnottodiscussthemarkingschemenorargueaboutthemarks. Studentswhodisagreewiththemarksafterthefeedbackshouldapplyforaremarkviathestudentcenter. Wewillaska3rdpersontocheckthemarking.