Using Item Set Exams to Assess Higher Order Learning in a Corporate Finance Course

33 Pages Posted: 30 Jul 2008 Last revised: 22 Feb 2011

See all articles by John D. Stowe

John D. Stowe

Ohio University

Philip J. Young

University of Tennessee at Martin

Date Written: February 19, 2011

Abstract

Although the item set exam format is used extensively in professional certification exams, it has not been widely adopted in academia. The item set exam can be viewed as an alternative to multiple choice exams or essay exams, sharing some of the strengths and weaknesses of both formats. An item set essentially is a minicase, a short written case followed by several multiple choice questions (items) based on the case. This paper describes some of the practical issues a professor will confront in developing and using effective item sets. To be concrete, we provide several examples of item sets that might be suitable to use in an undergraduate or beginning MBA corporate finance course.

Keywords: Item set exam, corporate finance, CFA Program, CFP Program

JEL Classification: J3, J30

Suggested Citation

Stowe, John D. and Young, Philip J., Using Item Set Exams to Assess Higher Order Learning in a Corporate Finance Course (February 19, 2011). Available at SSRN: https://ssrn.com/abstract=1174143 or http://dx.doi.org/10.2139/ssrn.1174143

John D. Stowe (Contact Author)

Ohio University ( email )

640 Copeland
Athens, OH 45701
United States
(434) 409-0239 (Phone)

Philip J. Young

University of Tennessee at Martin ( email )

216 Business Administration Bldg.
Martin, TN 38238
United States
731-881-7228 (Phone)
731-881-7256 (Fax)

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