The story begins a couple of semesters ago, on the “Water Cooler” discussion board of whatever class I was taking at the time. It was your basic “here’s what to expect in your next class” discussion. Marketing is the most reading. E-Commerce is just crazy. (Note: It was not. E-Commerce was taught less from a textbook and more from online experience. As well it should. And that made some people crazy. I thought it was the best course in the program.) Corporate Finance was murder. Specifically, the final exam was murder.
The way I remember it, the posting student said that in his class the raw average on the final exam was 40%. That was not a typo. 40%. And only the magical curve saved everyone. I remember dismissing the statistic, thinking that even if such a problem existed at one point, it must have been corrected by now. Corporate Finance had been revamped since then, so the final exam must have been addressed.
So I wander in to Corporate Finance, my final course in the program. I am a B+/A- student and I have learned my way around the program. I go through my coursework and am holding a 91% average going in to the final.
The final exam is 40% of our final grade. Now get this:
3-hours to Complete
Open Book/Open Note – including financial calculator
The only thing we are not allowed to do is access other Internet sites. Or MS Excel.
Are you suspicious yet?
It was the worst exam I have ever taken in my life. Twelve years of public education. SATs and ACTs. Two professional certification programs. Four years as an undergrad; two years in graduate school. Worst. Exam. Ever.
At the end, when I was searching for a Eureka! moment, I realized that even if I had that moment, I would not have time to rework all of the problems to apply it. I actually gave up.
To make a long story short (too late). I got a D on that final. The curve brought my final grade to a B, so I passed the course and get to graduate.
I am told that Corporate Finance is no longer a required class in my program.