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Number of Questions: The exam consists of multiple-choice questions, with a total of approximately 90 questions.
Time Limit: The total time allocated for the exam is 3 hours.
Passing Score: The passing score for the exam varies and is determined by the certifying body or organization offering the exam.
Exam Format: The exam is typically conducted in a proctored environment, either in-person or online.
Course Outline:
1. Finance Theory:
- Time value of money and discounted cash flow analysis
- Risk and return concepts
- Capital budgeting and investment decision-making
- Cost of capital and capital structure theories
2. Financial Instruments:
- Equity instruments (stocks and shares)
- Debt instruments (bonds and fixed income securities)
- Derivatives (options, futures, swaps)
- Alternative investments (private equity, hedge funds, real estate)
3. Financial Markets:
- Types of financial markets (money market, capital market)
- Primary and secondary markets
- Market efficiency and market anomalies
- Market participants and their roles (investors, issuers, intermediaries)
Exam Objectives:
1. Understand the foundational principles and concepts of finance theory.
2. Demonstrate knowledge of different financial instruments and their characteristics.
3. Understand the functioning and structure of financial markets.
4. Apply financial theory and concepts to practical scenarios and decision-making.
Exam Syllabus:
The exam syllabus covers the following topics:
1. Finance Theory
- Time value of money
- Risk and return
- Capital budgeting
- Cost of capital and capital structure
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PRIMA
8006
Exam I: Finance Theory, Financial Instruments, Financial
Markets – 2015
http://killexams.com/pass4sure/exam-detail/8006 Question: 90
The quote for which of the following methods of physical delivery of a futures contract would be the cheapest?
A. Free on board
B. Free alongside ship
C. In store
D. Cost, insurance and freight Answer: C
Explanation:
‘In store’ delivery is for delivery in a standardized location, and the buyer is handed a ‘warrant’ that allows him to pick
the goods up. This is the cheapest means of physical delivery. The other prices will be higher as they involve more
costs for the seller who has to get the goods on board a ship, or to the docks, or insurance and freight as well. Choice
‘c’ is the correct answer. Question: 91
Caps, floors and collars are instruments designed to:
A. Hedge against credit spreads changing
B. Hedge gamma risk in option portfolios
C. Hedge interest rate risks
D. All of the above Answer: C
Explanation:
Interest rate caps are effectively call options on an underlying interest rate that protect the buyer of the cap against a
rise in interest rates over the agreed exercise rate. As with options, the premium on the cap depends upon the volatility
of the underlying rates as one of its variables. A floor is the exact opposite of a cap, ie it is effectively a put option on
an underlying interest rate that protects the buyer of the floor against a fall in interest rates below the agreed exercise
rate.
A cap protects a borrower against a rise in interest rates beyond a point, and a floor protects a lender against a fall in
interest rates below a point.
A collar is a combination of a long cap and a short floor, the idea being that the premium due on the cap is offset
partly by the premium earned on the short floor position. Therefore a collar is less expensive than a cap or a floor.
Caps, floors and collars provide a hedge against interest rate risks, but do not protect against changes in credit spreads
unless the reference rate already includes the spread (eg, by reference to the corporate bond rate), and they certainly do
not have anything to do with gamma risk. Therefore Choice ‘c’ is the correct answer. Question: 92
Profits and losses on futures contracts are:
A. settled upfront
B. settled upon the expiry of the contract
C. settled by moving collateral
D. settled daily Answer: D
Explanation:
Profits and losses on futures contracts are settled daily. (P&L on forward contracts is often settled upon the expiry of
the contract, and may even be collateralized.) Therefore Choice ‘d’ is the correct answer. Question: 93
The cheapest to deliver bond for a treasury bond futures contract is the one with the :
A. the lowest yield to maturity adjusted by the conversion factor
B. the lowest coupon
C. the lowest basis when comparing cash price to the futures spot price adjusted by the conversion factor
D. the highest coupon Answer: C
Explanation:
Treasury bond futures do not specify which bond can be used to effect delivery, but allow the seller to pick from a
number of available bonds. As a result, one of these eligible bonds emerges as being the ‘cheapest’ to deliver, and this
CTD bond is determined by the basis between the cash price of the bond and the futures spot price as adjusted by the
conversion factor for this specific bond. (ie, basis = Cash Price of the Bond – Futures Price
x Conversion Factor)
The bond with the lowest basis is generally the CTD – therefore Choice ‘c’ is the correct answer. Question: 94
The value of which of the following options cannot be less than its intrinsic value
A. a Bermudan put
B. a European put
C. an American put
D. a European call Answer: C
Explanation:
Note that intrinsic value of an option is the difference between the value of the underlying and the strike price of the
option.
European options can only be exercised at expiry, and Bermudan options only at certain dates during the life of the
option. Therefore the option may be valued at less than intrinsic value if the earliest possible exercise date is not very
close. An American option however can be exercised at any time prior to expiry, which means that its value can never
fall below its intrinsic value. Because if it did, arbitrageurs would buy the option and immediately exercise it to get a
risk free profit. It does not matter whether the option is a call or a put – therefore the correct answer is Choice ‘c’. Question: 95
An investor believes that the market is likely to stay where it is.
Which of the following option strategies will help him profit should his view be proven correct (assume all strategies
described below are long only)?
A. Strangle
B. Collar
C. Butterfly spread
D. Straddle Answer: C
Explanation:
Only the butterfly spread has a payoff profile that benefits when prices do not move much. The collar benefits during
declining markets, the straddle and the strangle benefit from sharp movements in the markets. Therefore Choice ‘c’ is
the correct answer. Question: 96
If the quoted discount rate of a 3 month treasury bill futures contract is 10%, what is the price of a 3-month treasury
bill with a principal at maturity of $100?
A. $90
B. $110.00
C. $102.50
D. $97.50 Answer: D
Explanation:
T-bill futures ‘discount’ can be converted to a price for the bill using the formula Price = [1 – discount * number of
days/360]. In this case, this works out to (1- 10% *90/360) * 100 = $97.50. Choice ‘d’ is the correct answer. Question: 97
An investor holds $1m in a 10 year bond that has a basis point value (or PV01) of 5 cents. She seeks to hedge it using
a 30 year bond that has a BPV of 8 cents.
How much of the 30 year bond should she buy or sell to hedge against parallel shifts in the yield curve?
A. Sell $1,600,000
B. Sell $625,000
C. Buy $1,000,000
D. Buy $1,600,000 Answer: B
Explanation:
When hedging one fixed income security with another, the question as to how much of the hedge to buy (or sell) (ie
the hedge ratio) for a given primary position is determined by their respective basis point values, which in turn are
determined by their duration. Therefore, when hedging a long maturity bond with a PV01 of $3 with a short maturity
bond that has a PV of $1, we will need to buy 3 times the notional value of the short maturity bond to achieve the same
sensitivity to interest rates as the longer maturity bond. Additionally, we may also expect the interest rates on the
hedge to move differently from the interest rates on the primary instrument being hedged, and this needs to be
accounted for as well as part of the hedge ratio calculation. This is called the yield beta and is calculated as change in
yield for primary position/change in yield for the hedge security.
The hedge ratio is determined both by the yield beta and the BPVs of the two securities. In this case, the yield beta is 1
(as the question speaks of a parallel shift in the yield curve, ie all rates rise or fall together), and the ratio of the BPVs
is 5/8. Therefore she should sell 5/8 x 1,000,000 = $625,000 of the 30 year bond. Choice ‘b’ is the correct answer. Question: 98
A borrower pays a floating rate on a loan and wishes to convert it to a position where a fixed rate is paid.
Which of the following can be used to accomplish this objective?
I. A short position in a fixed rate bond and a long position in an FRN
II. An long position in an interest rate collar and long an FRN
III. A short position in a fixed rate bond and a short position in an FRN
IV. An interest rate swap where the investor pays the fixed rate
A. None of the above
B. I and IV
C. I, II and IV
D. II and III Answer: C
Explanation:
A short position in a fixed rate bond and a long position in an FRN has the effect of paying fixed and receiving
floating. The floating received offsets the floating payment on the borrowing, leaving the borrower with just a fixed
rate outflow. Therefore the combination identified in statement I can be used to achieve the objective of paying fixed.
A collar is equivalent to a long position in an interest rate cap combined with a short position in an interest rate floor.
This has the effect of setting a range within which the investor’s borrowing rate will vary. In the case where the cap
and floor rates are the same, the combination of a collar and a long FRN effectively produces an outcome where the
holder of such positions pays a fixed rate. Therefore, an interest rate collar can be used to convert the fixed payment to
a floating rate payment. [Example: Assume current interest rate is 3%, and therefore the borrower has a liability of 3%
on the FRN. Assume that the borrower now buys a collar at the strike rate of 4%. Now the borrower receives 0%
(=Max(3% – 4%, 0)) on the cap part of the collar, and pays 1% on the floor part of the collar (=Max(4% – 3%, 0)).
The net borrowing cost therefore is 3% paid on the FRN plus 1% paid on the collar, equal to 4%. Now if interest rates
rise to say 6%, the borrower pays 6% on the FRN, and receives 2% from the collar (=Max(6% – 4%, 0) – Max(4% –
6%, 0)), creating a net cost of 6% – 2% = 4%.
A collar is often issued with an FRN to convert floating flows to fixed. Therefore combination II is an acceptable
choice.
A short position in a fixed rate bond and a short position in an FRN produces a cash flow that does not produce a net
fixed cash outflow when combined with the borrowing. Therefore statement III is not a valid combination.
An interest rate swap where the investor pays fixed and receives floating, when combined with a floating payment on
an FRN leaves a net fixed payment, Therefore statement IV is a valid way to achieve the borrower’s objective. Question: 99
If the implied volatility for a call option is 30%, the implied volatility for the corresponding put option is:
A. -70%
B. 30%
C. -30%
D. 70% Answer: B
Explanation:
Implied volatilities are the same for calls and puts with similar exercise and strike prices. If not, it would offer an
arbitrage opportunity. Therefore Choice ‘b’ is the correct answer. Question: 100
[According to the PRMIA study guide for exam 1, Simple Exotics and Convertible Bonds have been excluded from
the syllabus. You may choose to ignore this question. It appears here solely because the Handbook continues to have
these chapters.]
Which of the following best describes a shout option?
A. an option in which the holder of the option has the right to reset the strike price to be at-the-money once during the
life of the option
B. an option which kicks in as a plain vanilla option if the underlying hits an agreed threshold
C. an option in which the buyer of the option has the option to extend the expiry of the option upon the payment of an
extra premium
D. an option whose expiry is automatically extended if it finishes out of the money. Answer: A
Explanation:
Choice ‘c’ correctly describes a ‘holder extendible option’. Choice ‘d’ describes a ‘writer extendible option’. Choice
‘a’ describes a ‘shout option’. Choice ‘b’ describes a ‘knock in’ option. Question: 101
According to the CAPM, the expected return from a risky asset is a function of:
A. how much the risky asset contributes to portfolio risk
B. diversifiable risk that the asset brings
C. the riskiness, ie the volatility of the risky asset alone
D. all of the above Answer: A
Explanation:
According to the CAPM, the expected return from a risky asset is a function of the contribution of the risky asset to
the total risk of the market portfolio. Nothing else matters. All assets are priced according to the risk they bring to the
market portfolio, regardless of their individual level of risk. An asset that is very volatile on its own, but has a negative
correlation to the market may be priced high, ie have low expected return, because of its impact on the risk of the
market portfolio. Therefore Choice ‘a’ is the correct answer, and the other options are incorrect.
Recall that according to the CAPM = covariancex, y / variancex, where x is the market portfolio and y is the risky
asset.
The beta itself is a function of the covariance of the asset’s returns with market returns, and therefore only the driver
of expected return for an asset is its beta, which is determined by the asset’s contribution to portfolio risk. ( =
covariance(x, y) / variance(x), where x is the market portfolio and y is the risky asset. ) Question: 102
A bond with a 5% coupon trades at 95. An increase in interest rates by 10 bps causes its price to decline to $94.50. A
decrease in interest rates by 10 bps causes its price to increase to $95.60. Estimate the modified duration of the bond.
A. 5
B. 5.79
C. 5.5
D. -5 Answer: B
Explanation:
In this case, we can estimate the duration of the bond as follows: we know that a 10 bps increase in rates causes the
price to move to $94.50, and a 10 bps decrease causes the price to increase to $95.60. Thus, over the range of the 20
bps, the average change in price per basis point is ($95.60 – $94.50)/20 bps = $1.10/20 = $0.055/basis point, or
$0.055* 100 = $5.5 for 100 basis points (ie 1%). We know that modified duration is equivalent to the percentage
change in the bond price as a result of a 1% change in interest rates. A 1% change in the interest rates leading to a
$5.5 change in a bond priced at $95 equates to $5.5/$95 = 5.79%, in other words the modified duration is roughly
equal to 5.79 years.
In fact if we know the price of a bond at any two different interest rates, we can make an estimate of modified
duration. Modified duration is just the first derivative with respect to price, and given two prices and the associated
yields, we can easily calculate modified duration to be the ratio of the change in price to the change in interest rates. In
this question, we are given both an up move and a down move. Using this estimation, only one data point (ie, either
the up price or the down price) in addition to the starting point ($95) would have been enough to come to a rough
estimate of modified duration. You will notice that the modified duration would be slightly different if we were to use
the high point and the starting point (ie $95.60 and $95), and the starting point and the lower point ($95 and $94.50).
The difference is due to convexity. The decrease in price is lower than the increase in price – and this is due to the
convexity of the bond. Question: 103
Which of the following statements are true?
I. The square-root-of-time rule for scaling volatility over time assumes returns on different
days are independent
II. If daily returns are positively correlated, realized volatility will be less than that calculated using the square-root-of
time rule
III. If daily returns are negatively correlated, realized volatility will be less than that calculated using the square-root-
of-time rule
IV. If stock prices are said to follow a random walk, it means daily returns are independent of each other and have an
expected value of zero
A. I, II and IV
B. III and IV
C. I and III
D. All the statements are correct Answer: C
Explanation:
Statement I is correct. If daily returns are not independent, variances cannot simply be added up over the period, and
the square root of time rule is not appropriate to use to scale volatility. Statement II is incorrect. Statement III is
correct. If daily returns are positively correlated, it means that a high return on one day will likely cause a higher return
the next day, and likewise for low or negative returns. Intuitively, it means that a ‘trend’ will be created and volatility
will be higher than in a case where daily returns were not correlated. Therefore statement II is not correct. By the same
logic, negative correlation between daily returns would mean a higher return on one day would likely be followed by
lower returns the next day, ie a reversion to mean will result causing the volatility to be lower than the case when the
returns are uncorrelated. (The correlation between the daily returns is called the ‘autocorrelation coefficient’.)
Statement IV is false because while the random walk of prices does imply independence, it says nothing about the
expected value of returns. It does not imply that the returns will have an expected value of zero (or any other
value).Thus Choice ‘c’ is the correct answer and the rest are incorrect. Question: 104
The relationship between covariance and correlation for two assets x and y is expressed by which of the following
equations (where covarx,y is the covariance between x and y , x and y are the respective standard deviations and x,y is
the correlation between x and y ):
A)
B)
C)
D)
None of the above
A. Option A
B. Option B
C. Option C
D. Option D Answer: B
Explanation:
Choice ‘b’ is the correct answer. The other relationships are not correct.
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Sat, 24 Aug 2019 00:50:00 -0500en-ustext/htmlhttps://www.unr.edu/testing-center/faculty/test-materialsPrepare for the CAP Exam
ISA offers a variety of resources to help you prepare for the Certified Automation Professional (CAP®) exam.
The CAP Study Guide is a comprehensive self-study resource that contains a list of the CAP domains and tasks, 75 review mock test complete with justifications. References that were used for each study guide question are also provided with the question. The Study Guide also includes a recommended list of publications that you can use to do further study on specific domains. Order the CAP Study Guide.
Review Courses
A CAP review course is available in several formats as preparation for taking the certification exam. This course is offered by ISA and can also be offered at your location.
ISA also has a variety of training courses that would be helpful in preparing for CAP. NOTE: The CAP exam fee is not included with the CAP review courses (EC00, EC00V, EC00E, and EC00M). Visit the Automation Professional Training page for a complete list.
Additional Resources
Exam Topics
Basic Continuous Control: Process Instrumentation, Analytical Instrumentation, Continuous Control, Control Valves, Analog Communications, Control System Documentation, Control Equipment
Basic Discrete, Sequencing, and Manufacturing Control: Discrete Input & Output Devices and General Manufacturing Measurements, Discrete and Sequencing Control, Motor and Drive Control, Motion Control
Advanced Control Topics: Process Modeling, Advanced Process Control, Control of Batch Processes, Environmental, Environmental Monitoring, Building Automation
Reliability, Safety, and Electrical: Alarm Management, Reliability, Process Safety and Safety Instrumented Systems, Electrical Installations, Safe Use and Application of Electrical Apparatus
Integration and Software: Digital Communications, Industrial Networks, Manufacturing Execution Systems and Business Integration, System and Network Security, Operator Interface, Data Management, Software, Custom Software
Deployment and Maintenance: Operator Training, Checkout, System Testing, and Startup, Troubleshooting, Maintenance, Long-Term Support and System Management
Work Structure: Automation Benefits and Project Justifications, Project Management and Execution, Interpersonal Skills
CAP trial Questions
Questions on the exam were derived from the real practice of automation professionals as outlined in the CAP Role Delineation Study and job task analysis. Using interviews, surveys, observation, and group discussions, ISA worked with automation professionals to delineate critical job components to develop exam specifications to determine the number of questions related to each domain and task tested. This rigorous program development and ongoing maintenance process ensures that CAP certification accurately reflects the skills and knowledge needed to excel as an automation professional.
The following six questions were taken from the CAP exam question item bank and serve as examples of the question type and question content found on the CAP exam.
The method by which the tasks and hazards associated with a machine or process are analyzed is known as:
A. Risk assessment.
B. Machine assessment.
C. Risk reduction.
D. Risk abatement.
To test controller tuning or prototype new control strategies offline, the model should be a(an):
A. Tie-back (loopback) simulation.
B. Artificial neural network.
C. Dynamic process simulation.
D. Steady state process simulation.
The temperature measurement with the BEST repeatability and resolution is the:
A. Thermocouple.
B. Resistance temperature detector (RTD).
C. Dial thermometer.
D. Capillary system.
Which of the following is NOT a variable speed drive setup parameter?
A. Acceleration rate.
B. Motor winding type.
C. Output frequency.
D. Maximum speed.
A complete test plan for system integration testing MUST include:
A. Comments for the application programmer.
B. Multiple test cases for each mode of operation.
C. At least five test cases for each test.
D. Expected results for each test case.
Frequency of maintenance should be determined by:
A. Failure rates of components.
B. Availability of personnel and parts.
C. Management targets for efficiency and productivity.
All students participating in a Master of Science or Doctor of Philosophy degree program must complete a thesis or dissertation proposal for approval by the members of the student's steering committee. The major professor and each of the graduate steering committee members must approve the proposal using the Graduate School's proposal approval form. MS thesis proposals should generally be completed two semesters prior to defense of the thesis; PhD dissertation proposals must be completed to achieve candidacy (in concert or in parallel with the candidacy examination process). Each Department/Program may have requirements that exceed those specified broadly in this policy; however, they must be consistent with the Graduate School's requirements. Departmental requirements beyond the minimum stated here must be specified in writing and submitted to the Graduate School as well as listed in departmental web pages. It is the responsibility of the student to be aware of, and comply with, all Graduate School and Departmental dissertation proposal requirements.
The objectives of this examination are to confirm the student's breadth and depth of knowledge in their chosen field of study as well as the student's understanding of the scientific process. The doctoral candidacy examination should be administered upon completion of the majority of coursework, and successful completion of the exam signifies readiness to undertake the research and dissertation component of the doctoral program. This examination must be taken within three years from the first date of matriculation, and at least one year prior to the dissertation defense.
Upon the recommendation of the appropriate Department Chairperson, the Associate Provost for Instruction and Office of the Graduate School appoints the doctoral candidacy examination committee consisting of the student's major professor, the student's steering committee and an additional faculty member from an appropriate area. Additionally, the Associate Provost for Instruction and Office of the Graduate School appoints a committee chair who is not from the department of the student's degree program. The role of the examination committee chair is to manage the examination, ensure its integrity and represent the interests of the faculty and student.
The examination must have both written and oral components, described below.
Written Examination
The purpose of the written exam is to assess the readiness of the student to move beyond the coursework stage of the doctoral program, into the development of a substantial research project and dissertation. Traditionally, questioning should verify sufficient breadth and depth of knowledge to successfully undertake such research, and then communicate the results in a scholarly manner appropriate to the discipline.
To initiate the examination process, the examining committee shall convene at a planning meeting with the student. During the first part of the planning meeting, the committee determines the form and schedule for the process and establishes the date for the oral component (reported on form 6E). The student is then excused from the meeting and the committee develops and discusses the exam content. There are three alternative forms for the written component, as follows:
Form 1: Each member of the committee (excluding the chair) submits one distinct question, set of questions, or problem related to the objectives of the exam. The questions are discussed and agreed upon at the planning meeting. The major professor administers the written examination. Typically, each question or set of questions must be completed within a prescribed period of time, not to exceed approximately 8 hours each, with additional time permitted for reasonable breaks, meals, etc.. No more than one question or set of questions should be administered per 24 hours. Upon completion by the student, the examination questions are reviewed and graded by the committee members who prepared them. The committee then collectively reviews the entire examination.
Form 2: The student prepares a written report on a Topic or problem assigned collectively by the examining committee as a whole. The Topic or problem must meet the objectives of the examination and its content cannot be directly related to the student's dissertation research topic. The student has approximately one month to develop a thorough understanding of the assigned Topic and prepare a written report. The report is reviewed by the committee members and committee chair.
Form 3: The student prepares and defends a written proposal of future research likely to be carried out during their Ph.D. project. This research prospectus must be presented to the examining committee two weeks prior to the oral candidacy exam and should include preliminary studies supporting the feasibility of the proposed research. The exam will test the candidate's understanding of concepts directly related to his or her immediate area of research, knowledge of prior related research that has been conducted by others, their ability to design and interpret experiments in this area, and capacity to think and write independently and to present work plans orally in a clear and rational manner. The report is reviewed by the committee members and committee chair. Form 3 is available only to doctoral students in the Department of Chemistry and Environmental Resources Engineering.
At least 3 business days prior to the oral exam, the major professor shall confirm with the chair of the examining committee that the oral examination should proceed as scheduled. The written exam is thus considered to be "provisionally successful." If the written examination component does not meet the standards established for the candidacy exam, the committee has two options.
If the deficiencies are relatively minor, or in the case of Form 1, limited to a minority of the written questions, the oral exam may be postponed by the Office of the Graduate School at the recommendation of the chair of the exam committee. The student may then be provided with an additional time period, the length of which should be determined by the full examination committee in consultation with the chair, to address deficiencies identified in the written examination. This time period should be no less than 8 hours (typically for Form 1), and may extend up to 5 business days for Forms 2 and 3. This action is treated as a suspension and extension of the written exam "in progress," and, if ultimately successful, does not constitute a failure of the entire exam, nor count toward the limited number of attempts prescribed by Graduate School policy below.
If the deficiencies are severe, the major professor, in consultation with the examination committee may decide to fail the candidate without performing the oral component. This latter action does constitute a failure of the candidacy exam in its entirety, and does count toward the limited number of attempts prescribed by Graduate School policy below.
Oral Examination
The purpose of the oral examination is to further confirm the fitness of the student to apply the skills and knowledge acquired to date toward a successful and significant research project. The oral examination provides the opportunity for the student to demonstrate their ability to think synthetically and critically in a manner conveying their readiness to commence the dissertation project.
The oral component of the candidacy examination is typically scheduled for a period of approximately two hours, and is broken in to two distinct rounds of questioning. The first round, lasting approximately 60 minutes, consists of questions from each of the members of the examination committee, including the chair should they choose to contribute questions. Time should be shared equitably among the questioners, with interjections or interruptions by other questioners prohibited during the first round. The second round of questions may be more flexibly structured, with broader discussion and interchange among questioners is encouraged.
Any member of the faculty may be a silent observer for the oral component. The candidate may also invite a silent student observer to attend the oral examination. At the completion of the oral examination, the candidate and observers are excused from the room and the examination committee determines whether the student has successfully completed the oral component of the exam and achieved the status of "doctoral candidate." The committee chair has the option to vote. Unanimous agreement is required to pass the student on the first attempt. If less than unanimous agreement is reached, the student is considered to have failed the first candidacy examination. A student who fails the first candidacy exam may request a second exam, which must take place no more than one year from the date of the first examination. The second candidacy examination may, or may not include a new written component, at the discretion of the student's major professor and examination committee, in consultation with the examination chair. At the second exam, the student has passed if there is not more than one negative vote. A student who is determined to have failed the second candidacy examination is terminated from the doctoral program.
Scheduling the Candidacy Exam
To schedule a doctoral candidacy examination, the student should complete the following steps:
In consultation with your major professor, complete Form 6B for your Department Chairperson to review, sign, and forward to the Office of Instruction and Graduate Studies. Form 6B should be submitted according to the academic year deadlines for defense exams.
The Associate Provost for Instruction and Office of the Graduate School will assign a faculty member outside of your degree program to serve as chair of your examination committee. When you receive a copy of Form 6C which officially appoints your examination committee, you must consult with all members of your committee (major professor, steering committee, additional examiner, and defense chair) to arrange a mutually convenient date, time, and location for a planning meeting.
You must inform the Office of Instruction and Graduate Studies of the agreed upon date, time, and location for your planning meeting at least two weeks in advance of the date. This Office will confirm in Form 6D these arrangements with all concerned individuals.
At the planning meeting, your exam chair and the committee complete Form 6E, the committee chair will sign it and return it to the Office of Instruction and Graduate Studies, which will distribute copies to you and the committee.
If you are using Form 1 of the examination, you and your major professor should arrange for a time and location to administer the questions.
The last step is to meet with your committee and complete the oral examination at the designated date. At the end of the oral examination, your committee will ask you and any observers to leave the room while it determines if you have satisfactorily completed the doctoral candidacy examination. You will be invited back to receive the decision of the committee which will also be reported on Form 6F and returned by the exam chair to the Office of Instruction and Graduate Studies.
Thu, 25 Aug 2022 07:07:00 -0500entext/htmlhttps://www.esf.edu/graduate/programs/docexam.phpCAPM Certification Cost And Requirements
Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors' opinions or evaluations.
The Certified Associate in Project Management (CAPM)® certification is a globally recognized credential for entry-level project managers with little to no project management experience.
Earning the CAPM certification validates your knowledge and skills in project management fundamentals. It signals to potential employers that you can competently fulfill foundational roles and responsibilities involved in a project manager role. This article overviews key CAPM certification requirements and the credential’s various cost components.
What Is CAPM Certification?
CAPM certification is a beginner-level professional designation administered by the Project Management Institute (PMI). It recognizes project practitioners’ knowledge and competency in their field’s fundamentals, including processes, frameworks, methodologies and best practices. CAPM is ideal for entry-level professionals, project team members and project managers seeking to advance their knowledge and implement best practices in their work.
The CAPM certification can serve as a stepping stone toward a career in the field and the Project Management Professional (PMP)® certification. If you’re debating between earning the CAPM vs. PMP, consider pursuing the CAPM first.
CAPM Cost
Several components factor into the total CAPM certification cost. Below you’ll find a breakdown of mandatory fees and other expenses associated with the CAPM certification process.
Exam Fee
Exam Fee: $225 for PMI members and $300 for nonmembers
Re-Examination Fee: $200 for PMI members and $150 for nonmembers
The exam fee is mandatory and must be paid online directly to PMI. If you do not pass the exam on your first try, you must pay a re-examination fee to take the test again.
Once a candidate’s application to take the CAPM exam is approved, they have one year and three attempts to pass the test. If a candidate is unable to pass the CAPM certification exam within the one-year eligibility period, they must wait one year from the date of their last attempt to resubmit their application for the CAPM credential.
Training Costs
In preparation for the CAPM exam, you’ll likely sign up for a training class, course or bootcamp. Training costs vary depending on which option you choose. A CAPM bootcamp typically provides 23 hours of project management education in three to four days. The cost for CAPM bootcamps varies depending on the program, though prices usually start around $200.
If you enroll in a training course, costs generally range between $300 and $500. There are several course options available, and you may be able to find a course or program that fits within your budget.
Resources and Practice Tests
You can use and refer to several resources when preparing for the CAPM exam. The certification exam includes information from the Project Management Body of Knowledge (PMBOK)® Guide, which PMI members receive with their memberships. Nonmembers must purchase this guide if they want to use it in preparation for the exam.
The PMBOK Guide costs around $100 when purchased through PMI. Other study books may cost around $50. However, prices vary depending on the dealer.
However, CAPM applicants should focus their studies on PMI’s CAPM exam content outline. This outline comprises four sections: project management core concepts and fundamentals; agile frameworks and methodologies; predictive plan-based methodologies; and business analysis frameworks.
Some candidates take practice exams to prepare for the CAPM exam. The costs of practice exams vary. There are also free practice exams available online.
Renewal Costs
To maintain your CAPM certification status, you must renew your certification every three years. This entails completing 15 professional development units in each three-year period. The renewal fee is $60 for PMI members and $150 for nonmembers.
The renewal process to maintain CAPM certification is updated periodically, so it’s essential to check PMI’s website for the most current renewal requirements and costs.
CAPM Certification Requirements
To apply for the CAPM certification, you must meet the following prerequisites.
Hold a secondary degree (a high school diploma, an associate degree or the global equivalent).
Complete 23 hours of project management education by the time you’re scheduled to take the exam.
Take and pass the CAPM exam.
Frequently Asked Questions (FAQs) About CAPM Certification Requirements
How can I fulfill the 23-hour project management education requirement?
Several in-person and online project management courses are available to fulfill the project management education requirement. If you’re interested in taking an official PMI course, the organization offers one called Project Management Basics, which meets this prerequisite. The course costs $400 for non-PMI members and $350 for PMI members. Alternatively, your local community college may offer classes that meet this requirement.
Can I take the CAPM exam without experience?
Yes. You do not need professional experience to take the CAPM exam, but you must complete 23 hours of project management education.
How much experience do you need for CAPM certification?
The CAPM certification is geared toward entry-level project management professionals with little to no experience. While candidates must meet an educational prerequisite to apply for the CAPM certification, there are no formal working experience requirements.
Do I have to be a PMI member to earn CAPM certification?
You do not have to be a PMI member to earn CAPM certification. You must meet the prerequisites and pay the exam fee to earn the certification. However, the exam is cheaper ($225) with PMI membership. It costs $300 for nonmembers. Certification renewal is cheaper for PMI members as well.
How long does it take to process the CAPM application?
PMI typically takes five to 10 days to review online CAPM applications. After your application is approved, you’ll receive an email with payment instructions.
Do I need to renew my CAPM certification?
Yes. You must renew your CAPM certification every three years. This entails completing 15 professional development units (PDUs) during the three-year certification cycle. A PDU is a one-hour chunk of time spent learning, teaching or volunteering.
Does CAPM count toward PMP?
If you’re wondering how to get PMP certification, it’s good to note that CAPM certification can help you qualify for the PMP exam. One of the PMP certification requirements includes 35 hours of project management education/training or CAPM certification.
Is a CAPM certification worth the cost?
Is the CAPM worth it? Most certification-holders would say yes. Based on job outlook projections published by PMI, the global economy should need 25 new million project professionals by 2030. Other benefits of earning CAPM certification include the following.
Increased earning potential
Increased opportunities for career advancement
Establishing your resume with a credential from an industry-recognized organization
While earning a CAPM certification can increase your earning potential, it’s important to note that several factors can impact your salary. These factors include job title, location and professional experience.
The GRE (Graduate Record Examination) revised General Test, introduced in August 2011, features a new test-taker friendly design and new question types. It more closely reflects the kind of thinking you'll do in graduate or business school and demonstrates that you are ready for graduate-level work. Skills are assessed in the areas of verbal reasoning, quantitative reasoning, and analytical writing.
Prices/fees are subject to change without notice.
Establishing Connection...
Sat, 14 May 2022 00:11:00 -0500entext/htmlhttps://ung.edu/testing/gre.phpFree real estate practice exam + 7 study hacks to ace the real estate exam
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From time management techniques to memory tricks and managing stress — we’ll share our study hacks to help you ace your state real estate exam. Hone and test your real estate knowledge using our free real estate practice exam.
As a lifelong educator, learner, and collector of advanced degrees in education and curriculum design, I know from experience which study habits and hacks really work, and I’ve researched the most effective ones for this article. We’ll help you supercharge your real estate exam study habits and launch your new real estate career with confidence.
Understand the real estate exam
Before we dive in, it’s helpful to understand the structure and content of your real estate exam. Real estate exams are typically:
A multiple-choice format
Timed with allotted times of 2 to 3 ½ hours
Divided into two sections: national real estate principles and practices, and state real estate laws
The exam also covers a variety of Topics including:Â
Financing
Ownership
Property disclosures
Property value and appraisals
Contracts
Legal descriptions
Standards of conduct
Math calculations
Passing grades are determined by each state but typically hover around 70%, and you’ll need a passing score in both sections. Each state’s rules vary on retaking the exam, but you can usually retake only the portion of the exam you didn’t pass the first time. With our free real estate practice exam, you’ll be on your way to passing with flying colors.Â
Take our free real estate practice exam
Ready to test your knowledge? Try our free real estate practice exam with some typical multiple-choice questions you might find on a state real estate exam. If you’re not ready yet, check out our study hacks, motivational tips, and other tools below.
SAVE 30% on all prelicensing courses with The CE Shop using promo code HW30. Click to learn more about their prelicensing course packages and Exam Prep Edge.
Licensee Mark has knowledge about all the issues related to a property. Which of the following property issues should be disclosed to potential buyers?
The neighbors have a dog. Â
The neighborhood has a low crime rate.Â
The kitchen has a leaky faucet.Â
The tree in the back yard is at least 30 years old.
Which of the following examples below is of a fixture that is real property?
Above-ground hot tub in the backyard
Shelves attached to the wall with brackets
Stand-alone storage shelf in the cupboard
Photos and wall hangings
After a seller counters an offer, what happens to an initial offer from the buyer?
It is void and no longer in play.
It becomes the back-up offer.
It is accepted by the seller until the buyer accepts the counter.
Sellers cannot counter a buyer’s initial offer.
In a real estate transaction, if Sarah, acting as a broker for Blue Skies Realty, gives a portion of the commission earned from a sale to Emily, a buyer, what is this practice commonly referred to as?
A commission
A rebate
A kickback
A violation
A house on your street has built an addition, raising its property value. Now you notice your own property’s value has gone up. Which economic principle best describes this situation?
Value bump
Conditional value
Progression
Stalemate
Ava, Jane, and Nora are joint owners of a vacation home. Unfortunately, Jane passed away. Consequently, Ava and Nora allowed Jane’s nephew, Eric, who inherited Jane’s share of the property, to join them at the vacation home. What type of ownership arrangement does this represent?
Estate in generality
Tenancy in common
Joint tenancy
Common tenancy
An example of this type of leasehold estate is a month-to-month lease.
A month-to-month lease is an example of what type of leasehold estate?
Estate for years
Periodic estate
Estate at will
Estate for months
The homeowner tells their agent they’re in a rush to sell because they’re moving for a new job and they are open to offers below the asking price. The agent then tells a potential buyer that the seller could go for a $15,000 discount from the listed price. Which statement accurately represents the situation?
The agent has breached his duty of confidentiality to his client
The agent hasn’t violated any fiduciary responsibilities
The agent can secure the buyer’s offer now
The agent must wait for the seller to lower his asking price
If the rate of transer tax is $.48 per $100, what will a seller pay on a property purchased for $280,000?
$11,344
$1,344
$134
$13.40
What best describes a deed?
A lease agreement
A document to transfer ownership
A law of property title
A recording fee
7 study hacks to master the real estate exam
There are proven strategies for studying for exams that will help you to retain information more effectively and efficiently. Let’s take stock of best study habits.
Create the most efficient study plan
You’ll boost your chances of acing your exam if you make a study schedule and stick to it. But there are ways to get the most out of the schedule, too. Your best bet is to structure your studying around spaced repetition, the idea that you’ll retain more knowledge if your study sessions are spread out.Â
So, set aside dedicated study time each day or week and make it a priority. Start by breaking down the Topics you need to cover and allocate specific time slots for each topic. This will help you stay organized and ensure you’ve covered all the required material before the exam. Finally, take breaks to provide your brain time to rest and process the information you’ve learned, and your memory will be primed for exam day.Â
Snag the highest-quality study materials
Not all study materials are cut from the same cloth. Having access to high-quality real estate practice exams, study guides, and texts from reputable sources is key. Ideally, you’ll want practice questions that most closely mirror the real estate exam so you have no surprises on exam day.Â
Consider using a combination of different resources for a well-rounded understanding of the exam content.Â
Textbooks to grasp the foundational concepts
Online courses for interactive learning
Flashcards for memorization
Audio lessons for review
Practice exams to test your knowledge and identify areas for improvement
Check out our top picks for real estate exam prep offered by real estate schools, too. We vetted the top national real estate schools for their exam prep materials, pass rates, and more.
Whether you’re studying from your car, on your commute or from home, let’s break down the study techniques backed by science and practiced by top students to help you ace your exam.
Active recall: Studies show over and over that quizzing yourself without looking at your notes improves your understanding.[2] So does teaching the material to yourself or others out loud.
Mix it up: Mix up different Topics during your study sessions rather than focusing on one Topic exclusively – it will help your brain determine what’s important to remember.[3]
Visualize to remember: Create visual aids or use mnemonic devices to associate complex information with images or easily memorable phrases, as these will significantly enhance memory recall.[4]
SAVE 30% on all prelicensing courses with The CE Shop using promo code HW30. Click to learn more about their prelicensing course packages and Exam Prep Edge.
Join study groups for a comprehension boost
Joining a study group is like unlocking a secret weapon to master the real estate exam. It brings in diverse perspectives, boosts your understanding as you talk things out, and bridges any gaps you might have in your grasp of the material.Â
As an added bonus, being part of a group amps up your motivation and keeps everyone accountable, leading to better retention of tricky concepts. So, consider leveling up your studying by joining a study group or finding a buddy to learn with.
When you’re preparing for the real estate exam, it’s completely normal to feel the pressure. Remember, taking care of yourself is just as crucial as hitting the books. Start by carving out moments for self-care amidst your study sessions. Take breaks to stretch, breathe deeply, or go for a short walk—whatever refreshes your mind.
Don’t forget to reach out to friends, family, or study buddies. Chatting with them can bring a fresh perspective or just the encouragement you need. You’ve got this—believe in yourself and don’t forget to celebrate your progress.
Review and revise your notes regularly
When you revisit your notes, you’re flexing your mental muscles. You aren’t just refreshing your memory, you’re strengthening the neural pathways that help you recall information during the exam. Plus, research shows that regular notes review boosts confidence and reduces anxiety.
Start by skimming through your notes to refresh your memory, then actively engage with the material by summarizing key points in your own words. Finally, quiz yourself or create flashcards to reinforce your understanding and test yourself. Soon, your exam jitters will take a backseat to your confidence.Â
The best ways to simulate real estate exam conditions
As you get closer to exam day, it’s crucial to simulate exam conditions during your study sessions. Find a quiet and distraction-free environment where you can focus. Set a timer and allocate specific time limits for each section of the practice exam. This will help you familiarize yourself with the time constraints and train your mind to work efficiently under pressure.
During the real estate practice exam:
Avoid distractions, such as checking your phone
Take it seriously and treat the practice exam as if it were the real exam
Review your answers and identify areas where you need more practice
Refine your study plan and target your weak areas before the real exam
Frequently asked questions about the real estate exam
The passing score for the real estate exam differs across states, but usually hovers around 70%. With thorough preparation, these exams, while challenging, are achievable. To locate the passing rate on your state’s real estate exam, you can use the Association of Real Estate Law Officials website to find your state’s real estate regulatory board.
There are typically between 75 and 150 questions on the real estate exam, though each state differs. The exam is timed and consists of a national portion and a state-specific portion, both of which you’ll need to pass to pass the overall exam.
Passing the real estate exam involves a mix of preparation and strategy. Start by creating a study plan that includes regular review sessions and practice tests. Consider joining study groups, or enrolling in exam prep offered by real estate schools like The CE Shop or Aceable Agent. Finally, manage stress by staying well-rested and confident in your preparation—you’ve got this!
Real estate exams are timed, and typically run between 1.5 and 2.5 hours, depending on the state in which you take the exam. Exams are typically in a multiple-choice format, with some scenario-based questions included.
Real estate exams are commonly taken on computers at designated testing centers, though some states might also offer paper-based options. These exams usually include multiple-choice questions and are divided into two sections: one covering national Topics and the other focusing on state-specific content. Exams are timed and usually between 75-150 questions to answer, depending on the state.
If you fail one part of the exam (either the national or state-specific section), you often have the opportunity to retake only the section you failed. Check your state’s policies, as retake rules vary in each state, and you may need to pay an additional fee or wait a specific amount of time before retaking the exam.
Yes! Eligibility requirements vary by state. In most cases, you must complete pre-licensing education, provide identification, and pay an exam fee before being eligible to take the exam. Check with your state’s real estate commission for exact requirements.
After passing the real estate exam, you can apply for your real estate license with your state’s regulatory authority. You’ll often be mailed your real estate license (and a pocket card). Once you have your license, you can start working as a real estate professional, such as a real estate agent or broker.
The full picture
With these study hacks, you’ll build a solid foundation of knowledge for your new career and boost your confidence for the real estate exam. Don’t miss out on our free practice real estate exam to check your progress and find ways to Boost your studying. Embrace the challenge, stay focused, and set your course for a thriving real estate career!
Related
Thu, 14 Dec 2023 10:16:00 -0600Natalia Oliveren-UStext/htmlhttps://www.housingwire.com/articles/free-real-estate-practice-exam/Final exam Schedule
Final exam Management
No final exams shall be held on Fridays during Spring terms due to conflicts with Commencement.
Consult the course syllabus for the final exam date and time or one day courses not listed above, all summer courses, courses with special session dates, and courses without room assignments.
Final exams for one day courses, not listed above, will follow the final exam schedule unless the course syllabus states otherwise.
Classes that start within the day(s) and start hours listed above, but before the next class start time group will hold their final exam on the relevant exam date and time.
For example, a class start time on MWF or MW, 7:00 a.m. through 7:59 a.m. will hold their final exam on the relevant Monday exam date, 8:00 a.m. to 10:00 a.m.; the MWF class start time from 9:00 a.m. through 9:59 a.m. will hold their final exam on the relevant Wednesday, 8:00 a.m. to 10:00 a.m., and so on.
All Saturday only afternoon classes will follow the 12:00 p.m. final exam schedule.
Classes meeting four or five days a week will follow the MWF schedule.
Examination hours for classes involving lecture and laboratories or quiz sections are determined by the hours scheduled for the lecture.
Final exams, including major section exams offered in lieu of a final exam, may not be scheduled during the last week of classes.
However, quizzes, lab exams, and other academic assignments may be scheduled for the last week of classes, provided they are specified on the course syllabus.
No unscheduled (i.e. not included in the course syllabus) or additional requirements may be imposed on students during the last week of classes.
Any exceptions that necessitate giving a final prior to final exam week must be stated on the course syllabus and shall require prior approval of the dean.
Contact the Office of Space Management at (916) 278-6507 or spacemgt@csus.edu concerning final exam schedules and requests for room reservations for final exams. If a faculty conflict with a regular exam date and time occurs, the department office shall contact Space Management to schedule a room according to the conflict exam date and time listed in the Exceptions section above.
Fri, 28 Oct 2022 15:00:00 -0500entext/htmlhttps://www.csus.edu/academic-affairs/internal/final-exam-schedule.htmlNextGen Bar Exam: What to KnowNo result found, try new keyword!Gundersen, CEO and president of the not-for-profit National Conference of Bar Examiners, which develops bar exam content for 54 U.S. jurisdictions. "So the public can have confidence in a ...Wed, 15 Feb 2023 03:47:00 -0600https://www.usnews.com/education/best-graduate-schools/top-law-schools/applying/articles/nextgen-bar-exam-what-to-knowHow to Schedule an exam in the Watson Testing Center
Arranging Testing Accommodations
Students need to notify or remind their professors of their testing accommodation needs one week (7 days) prior to the exam so the professor can make arrangements for these accommodations. Having the accommodation alone is not sufficient for the professor to know that a student intends to take advantage of their accommodations. exam accommodations cannot be guaranteed if students have not given professors due notice and made arrangements for their accommodations accordingly.
Making Reservations for the Watson Testing Center
Students also need to make reservations for the Watson Testing Center at least two business days prior to using the Center. Log on to Accommodate, select the green "Testing Room" tab on the top right, then select "Booking Request" on the bottom left, and enter the course and details as prompted. SAS staff will contact the student's professor to arrange for the exam accommodations. If students have difficulty booking through the website, please email sas@wm.edu or call 757-221-2512 for assistance. Please note:The Watson Center is reserved for students who are registered with SAS and have been approved for testing accommodations.
WE WILL NO LONGER TAKE WALK-IN STUDENTS WHO HAVE NOT MADE RESERVATIONS PRIOR TO THE DAY OF THE EXAMÂ
We cannot arrange exam space and logistics without advance notice. It is the student's job - not the professor's job - to reserve space in the Center.Â
The Center's hours are Monday through Friday, 8:30 AM to 5:00 PM--the Center closes promptly at 5 PM. Please make sure you allow for sufficient time to complete your exam when you set your reservation time. Students must obtain professor agreement to schedule exams at an alternative date/time.Â
Taking Exams in the Watson Center
Students report to Sadler Center 181 for their scheduled exam. Students must keep all belongings other than what is necessary to complete the exam in the SAS Office during the exam period. Students are prohibited from bringing cell phones unless it is an approved testing accommodation.
We ask students to be mindful of their own behavior (such as avoiding perfumes, colognes, and keeping extraneous noises to a minimum) to minimize distractions for other students in the Center. Any eating should be done outside of the Center.Â
Upon completion of the exam, students report to the Testing Proctor or office assistant. Our staff then will upload the student's exam contents to the Accommodate portal, and the professor will have access to open and download the student's exam through Accommodate.
Sat, 31 Oct 2020 22:55:00 -0500entext/htmlhttps://www.wm.edu/offices/deanofstudents/services/studentaccessibilityservices/students/policies/schedule_exam_in_lab/2021 USGA Rules exam InformationNo result found, try new keyword!We are excited to announce that we have a new partner for offering our digital Rules of Golf exam. Additionally, we’d like to apologize for the exam process to date. Offering the Rules exam digitally ...Fri, 18 Mar 2022 19:25:00 -0500https://www.usga.org/content/usga/home-page/rules-hub/education/2021-rules-of-golf-workshops/2021-usga-rules-exam-information.html
