MATH 5001       LECTURE 001      FALL 2009
Preparation for Financial Mathematics
INSTRUCTOR: SCOT ADAMS
(Frequently Asked Questions)

Q1: How is my clicker quiz grade computed?

A: On most weeks, there'll be a clicker quiz, often at the start of class. Sometimes we may have more than one quiz in a class. Typically a clicker quiz has only two questions. Each correct answer counts for 100 points, and each wrong answer counts for 50 points, so, in most cases, the possible scores are 100 (for two wrong answers), 150 (for one wrong and one right) and (200 for two right answers).

You will get to drop three of those daily scores. Quizzes count for only 5 percent of your total grade. There are no makeups on quizzes. If you arrive after a quiz begins, you cannot get credit for the questions you missed. If you miss a class, the score for that day is zero. If you do not bring your clicker, your score for that day is zero.
Q2: What material does each midterm cover?

A: Each midterm is on a Wednesday, and covers all the material from the beginning of the course up to and including material covered in the Wednesday lecture three weeks before the exam date.
Q3: What material does the final exam cover?

A: The final exam covers all material covered during the entire semester, including material that may have been covered on the midterms.
Q4: How do you figure final letter grades for each student in the course?

A: Let's say that, in a given course, the second midterm, is worth 25% of the total grade, but the total number of points on the second midterm is 100. I tend to set the total number of points for the course at 1000, so student scores on the second midterm will be multiplied by 2.5, making that midterm worth 250 points (i.e., 25 percent of 1000 points).

Once I have everyone's total grade, I order them from highest to lowest, and then make some tentative decisions on final course gradelines. Then I check to see, for example, if someone who has been getting straight "A"s on exams somehow ends up with a final grade of "B+". Such a thing might cause me to make some small adjustments to the final course gradelines. Other than that, the midterm and final letter grades are not used, only the numeric grades.
Q5: Do you curve?

A: I either do "curve" or do not "curve" depending on how you define it. I do not preassign the number of students who will receive a specific grade. On the other hand, neither do I preassign the gradelines before seeing the distribution of grades. Gradelines will be announced on the web, as soon as possible after the quiz or exam
Q6: Do you give incompletes?

A: Incompletes will be given only in cases where the student has completed all but a small fraction of the course with a grade of C or better and a severe unexpected event prevents completion of the course. In particular, if you get behind, you cannot "bail out" by taking an incomplete. The last day to cancel, without permission from your College office, is the last day of the sixth week.
Q7: Do you give extra credit?

A: No, no extra credit work will be accepted.
Q8: What are your policies on what materials are available on tests? Are tests open book? May we use calculators?

A: All quizzes and tests are closed book, with no calculators allowed, unless otherwise specified.
Q9: May I discuss the homework with my classmates before turning it in?

A: You may discuss homework with your classmates, even working on solutions, but the final writeup should be done individually.
Q10: Should I use radians or degrees, in computing trig functions.

A: In this class, unless otherwise specified, please use radians. This ensures that the derivative of sine is cosine.
Q11: Should I use log base e or log base 10.

A: In this class, unless otherwise specified, please use log base e. This ensures that the derivative of log is reciprocation.
Q12: When is homework due? How should it be turned in, hardcopy or electronic format?

A: Homework is due one class after it is assigned. It is assigned as soon as the corresponding topic is completed in class. It is due at the beginning of class, in hardcopy form.
Q13: How are student evaluations handled?

A: There's an online system, and evaluations can be done anytime during the last two weeks of classes. Please point to http://www.math.umn.edu/finmath/faq/ and scroll down to Q185 for more information.
Q14: By when should homeworks/midterms be graded and solutions posted?

A: Each homework/midterm should be graded within one week of when it's due/taken. Solutions for exams should be posted by the one week after the date on which that exam is taken. Solutions for homeworks should be posted by the Monday after the Wednesday on which the homework is due.
Q15: How do I order my clicker?

A: You'll need to buy a TurningPoint "clicker" (also known as a "Response Card Radio Frequency keypad" or "RF--RFC-02") for use in class, at a cost of \$29 as this is written (2 September 2009). To purchase your clicker, follow these steps:
After you have ordered your clicker you should receive a confirmation messsage and a reference number. If you don't get these things within a few minutes, it's likely that there was a problem and you might want to contact Turning Technologies directly to see.

Clickers will probably be used in every class (even the first one) to administer quizzes (counting toward your grade). You will not be able to receive credit if you don't have yours, so please purchase them early. You will also need to register your clicker, see Q16 below.

NOTE: I understand that there are some XR model Turning Technology clickers available at the UMN Bookstore in Coffman Union, and it appears that, even though they are a more expensive model than the ones ordered online, they will work in our course. Do check, before buying one, that it's a TurningPoint XR model clicker, and that it has a six-character device ID code on the back, in large capital letters, just above the barcode. If you purchase the wrong kind of clicker, it will not be compatible with the software we are using in class. (WARNING: There is at least one model, the IR model, that will NOT work in our class.)

RECOMMENDATION: Keep a couple of camera batteries in your backpack; if your clicker should stop working, it might be because the battery has worn out. (See Q30 and Q31 below).
Q16: How to I register my clicker?

A: Once you have the clicker in hand, YOU'LL ALSO NEED TO *REGISTER* it, and this registration must be completed by
MONDAY 14 SEPTEMBER
in order to ensure that your responses get connected to your name in the quizzing that takes place on the first day of lecture.

TO REGISTER: Point to https://moodle.umn.edu/my/. You may need to login using your x500 id and password.
After that you should see a link that reads
     FM 5001 Preparation for Financial Mathematics I (sec 1) Fall 2010
Click on that link.
Then, toward the top of the page, find the link that reads
    Clicker Registration
and click on that.
Then follow the instructions appearing there.

Again, if you don't register your clicker, then we can't connect your responses to your name, so you won't get credit for your responses.
Q17: How do I find my three-digit clicker code?

A: To look for your three-digit clicker code, point to
        https://moodle.umn.edu/my
and then click on
        FM 5001 Preparation for Financial Mathematics I (sec 1) Fall 2010
and then click on
        3-digit clicker code
and see the comment. If nothing appears, it means that your three-digit code has not yet been entered. The three-digit code cannot be assigned until you have registered your clicker (see Q16 above).

Please note that the 3-digit code doesn't get assigned immediately after you register. You need to be added to the participant list and, at that point you're given a 3-digit code. That code then needs to be entered in Moodle. This process may take a day or two, but be in touch with Prof. Adams if you have concerns.

Also, please note that, once you receive your 3-digit clicker code, you do not need to enter it anywhere. Prof. Adams will explain how you can use it to verify that your responses were received, but that process doesn't require you to type the code anywhere -- only to remember it.
Q18: What is the course policy about late homeworks?

A: This policy is set by the your TA and different TAs may have different policies.
Q19: If I don't get my clicker registered in time, do I run the risk of being dropped from the course?

A: No. Your only risk is that you won't get credit for quizzes that are offered before you are added to the participant list, and you cannot be added to the participant list until you register.
Q20: I ordered my clicker, but I'm worried about how long it will take for it to arrive. What should I do?

A: First, in the end, this is something you need to work out with Turning Technologies. That said, here's some general advice: Make sure you got a confirmation message after ordering your clicker. It should have a reference number. If you've waited a day or so, you might try calling Turning Technologies to see if and when the clicker was shipped, and they should be able to estimate when it will arrive.
Q21: How can I make sure that I'm using the right channel on my clicker?

A: On the clicker, key in "GO 4 1 GO".
Q22: The instructor seems very busy with setup just before class. Is it all right to interrupt him?

A: Usually the time before class setting up the technology is quite busy, and I appreciate not being interrupted. However, once I finish my setup, I often begin chatting with people. If you see me doing that, it's fine to interrupt me. Also, it's fine to talk to me during the break, after class, and, of course, during office hours.
Q23: If I'm doing well on the in-class clicker quizzes, should I expect to do well on the exams.

A: Not necessarily. The in-class clicker quizzes are designed to test small problems, which are often small steps within a bigger problem. The exams, by contrast are intended to test the full synthesis -- that is, to test whether you can put together a sequence of smaller steps to do a relatively bigger problem.

Therefore, you should not use proficiency at the clicker quizzes as a measure of your overall ability with the material.
Q24: If I'm doing well on the homework, should I expect to do well on the exams.

A: Not necessarily, because homework is not done in a timed setting, and because you may be using reference materials that are not available during the exam.

However, many exam problems will be similar to homework problems, so the correlation between homework peformance and exam performance is probably better than the correlation between in-class clicker quiz performance and exam performance.
Q25: What material is covered on each in-class clicker quiz?

A: Anything that has been taught in class could be covered on an in-class clicker quiz. For in-class quizzes that are not given at the start of class, you could even be quizzed on material covered during the part of the class preceding the quiz.
Q26: What are the office hours for the instructor and TA?

A: This is on the syllabus.
Q27: How can I find the syllabus for the course?

A: Point to the main course website http://www.math.umn.edu/~adams/FM5001/faq5001.html and then look down the left sidebar for "Syllabus" and click on that.

Alternatively, point directly to http://www.math.umn.edu/~adams/FM5001/syllabus5001.pdf
Q28: What will the midterm be like? How many questions? What type of questions? How hard?

A: I don't give out information about this, I'm afraid, but you can look at the archived FM 5001 courses to get some idea. (The course does evolve however, and we don't promise that each year will mimic precisely the year before.) To see the archive, point to http://www.math.umn.edu/finmath/courses/preparatory_sequence/ and look at the links under the word "ARCHIVE".
Q29: What will the final exam be like? How many questions? What type of questions? How hard?

A: I don't give out information about this, I'm afraid, but you can look at the archived FM 5001 courses to get some idea. (The course does evolve however, and we don't promise that each year will mimic precisely the year before.) To see the archive, point to http://www.math.umn.edu/finmath/courses/preparatory_sequence/ and look at the links under the word "ARCHIVE".
Q30: I'm having technology problems. Could I get some tech support?

A: The TAs and instructor don't offer tech support, but your first line of support as a UMN student are
Q31: My clicker doesn't seem to be working? Could it be the battery? What should I do?

A: First, if you get any light at all when pressing a button, it's not a battery issue. You can test that even outside of class, just by pushing one of the response buttons -- try pushing "A", for example. If your response isn't being received, you should get a flashing light followed by a red light. If it is being received, you should get a green light.

If no light appears at all, then it likely is a battery problem. The clickers take common camera batteries, and these should be available in many places (e.g., Wal-Mart or the University Bookstore in Coffman Union).

If you expect your response to be received (e.g., if you're in class taking a quiz, and the receiver is plugged into the instructor's laptop at the front of the room), but you don't get a green light, you should try clicking: "GO 4 1 GO" to set the channel (as in Q21 above). Then try again.

If you continue to have trouble, please seek technical support as described in Q30 above.
Q32: Where is the final exam?

A: This should be announced toward the end of the semester, but it is typically in the classroom.
Q33: Are there some sample final exams? Do they have answer keys?

A: I don't write up sample exams, but you can look at the archived FM 5001 courses to get some idea. (The course does evolve however, and we don't promise that each year will mimic precisely the year before.) To see the archive, point to http://www.math.umn.edu/finmath/courses/preparatory_sequence/ and look at the links under the word "ARCHIVE".
Q34: How can I find out standard statistics (e.g., mean, median, mode, standard deviation, etc.) the midterms?

A: Point to the Moodle gradebook for our course, select "All Participants" from the "Visible Groups" dropdown menu in the gradebook. Then click on the "Stats" link.
Q35: How do I order the PRMIA Handbook?

A: If you have not already registered as a member of PRMIA, you will need to register at http://prmia.org/index.php?page=membership#. Please note there is a free level of membership.

Once you have registered, please contact Jodi Lundell at 612-216-3844 and provide her with your PRMIA username and password, and a credit card number for which you would like this purchased charged. Your cost for Volume II of the PRM Handbook is $15.00, reflecting an 80% discount.

PRMIA Members:

If you are already a PRMIA member please contact Jodi Lundell at 612-216-3844 and provide her with your PRMIA username and password, and a credit card number for which you would like this purchased charged. Your cost for Volume II of the PRM Handbook is $15.00, reflecting an 80% discount.

You may access the digital version of the PRM Handbook via the PRMIA website once the above steps are completed:

The digital version of the Volume II of the PRM Handbook will be stored in your PRMIA Library.

   1. Login at www.prmia.org
   2. Select 'My Library'
   3. Select 'PRM Handbook'
   4. Select 'Mathematical Foundations of Risk Measurement'

You will next need to follow the instructions to download the Unsealer software that allows access to the digital book.

Once the Unsealer is installed, you can read the chapters online or print them locally. If you have any troubles with the Unsealer, please contact Hemant at publications@prmia.org and he will assist you.
Q36: What happens if I don't get my clicker registered by the deadline?

A: For-credit quizzing begins in Class 4. In Class 2 and Class 3, we'll be testing the clickers. So, if you don't have your clicker registered by the deadline, you won't be able to find out if it's working, but you'll get another chance in Class 3, provided the clicker is registered by one week after the deadline. If not, then you'll just have to hope that it's registered by two weeks after the deadline, and is working during the for-credit quizzing in Class 4.

So all that happens is that you lose a chance to do some troubleshooting.

Q37: How is the 3-digit clicker code used?

A: When you take a quiz, you will want to know, after selecting an answer and clicking on it, that that answer was received. In for-credit quizzes, there will be a table of 3-digit codes at the bottom of the quiz. When your answer is received, the box around your 3-digit code will change color, and that is your signal that your answer is received.

Do be sure to remember your 3-digit code, or to bring a record of it with you to class.
Q38: When do you give clicker quizzes?

A: The first clicker quiz can be no earlier than the fourth week of classes. Before then we will simply be testing the clickers to be sure that they work.

Starting in the fourth week of classes there can be a quiz at any time. Typically, I expect to give one quiz in each class, at the start of each class. However, there may be some days when I don't give any quiz at all, or some days in which I give more than one quiz. The schedule is unannounced, and it's advised that students attend every class from start to finish.
Q39: Is it all right if I work on the homework problems that are posted, even before they're assigned?

A: Of course, you are welcome to do that, but keep in mind that the list of problems can change up to the date on which the assignment is made. Once a set of homework problems is assigned, unless an error of some sort is found, the problems will stay fixed.

So, if you work any problems before they're assigned, do doublecheck, after the assignment is made, that the problems haven't been altered.