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Financial Risk Management
Subject Learning Guide
Semester 2, 2011 Melbourne Campus
Dr. Wei-han Liu (Unit Co-ordinator)
1 Tutorial Quizzes 3.4 Problems.2 Learning objectives Assessing the learning objectives 3 4 5 5 6 7 7 7 8 8 8 10 11 11 11 12 13 13 3.0 Feedback and quality assurance processes 7.3.0 Subject description 3.0 Learning effectively in this subject 16 17 Page 2 of 17 FIN3FRM /Financial Risk Management / ACNs Faculty of Law and Management.1 Passing the subject 3.1 Tutorial and Assessment Schedule 4.2 Assessment criteria 3.1 5.4. Who to see for help 4.5.Contents 1.4.4 Assessment Requirements and Definitions 3.4.1 3.2 Final Examination 3.5 Regional School of Business Policy on Plagiarism 3.0 Learning and assessment 3.5.3 Review and Re-mark of Students’ Academic Work 3.2 Prescribed and recommended texts LMS 16 16 16 6. La Trobe University .2 Special Consideration 3.0 Subject information at a glance 2.5.2 Lecture Topics and Associate Readings 14 14 14 14 5.1.0 Teaching arrangements 4.3 Assessment tasks 184.108.40.206 Special circumstance processes 3.3 Academic Plagiarism 3.1.1 Normal schedules 4.1 Academic Skills 3.5.0 Learning resources 5.
0 Subject information at a glance Academic and support staff: Unit Co-ordinator Bundoora: Lecturer Dr. La Trobe University .au/equity/ FIN3FRM /Financial Risk Management / ACN Page 3 of 17 Faculty of Law and Management. variance. J.C. 5 * 6% = 30% of total assessment. 70% of total assessment.edu. in order to obtain a pass for the unit. in addition to a minimum of 50% of the entire assessment load. (2011). Further information and contact details for the EAU are available at http://www.1PM. Tuesday Assessments: 5 Multiple Choice tests. A minimum of 40% (i.1. New Jersey.latrobe. including practical knowledge of standard deviation. 1 Final Exam. co-variance and an understanding of normal distributions and natural logarithms and CAPM. Fundamentals of Futures and Options Markets.firstname.lastname@example.org Enrolment requirements: FIN21FIN/22FIN/23FIN Assumed entry skills and knowledge: Basic Quantitative skills. Special study requirements: Students with special needs whose participation in this subject might be limited by any study requirements are encouraged to consult the Equity and Access Unit (EAU). 7th edition. Essential texts: Students are required to have access to the following textbook: Hull. 28/70) will be required to be obtained for the final exam alone.e. Office: DWB 436 Office Hour: 12AM. Wei-han Liu w. Pearson.
interest rate and exchange rate risks. as well as provide some factual basis to the consideration of the risks firms face and the lessons we might draw from the way in which they managed. theories and practical applications associated with the measurement and management of financial risk. Derivatives offer firms a relatively low cost and highly flexible means of managing financial risk. Futures Markets. These case studies are used to review a number of the concepts. instruments and strategies introduced throughout the unit. The unit concludes with the analysis of four case studies involving companies which suffered significant financial losses as a result of the mismanagement of their financial risk. or failed to manage. Page 4 of 17 FIN3FRM /Financial Risk Management / ACNs Faculty of Law and Management. La Trobe University . The unit introduces students to Forward markets.0 Subject description This unit is designed to be an introduction to the concepts. Option Markets and Swaps as a means of reducing financial risk.2. hence derivative strategies are a core topic of interest in the study of financial risk management. The unit considers the definition and measurement of risk. those risks.
7) Development of general analytical.1 Learning objectives The learning outcomes from completion of this unit: 1) A Basic understanding of risk 2) A basic understanding of derivative markets.3. and incorporating this evidence into the practical decision-making environment.0 Learning and assessment 3. 6) Appreciation of the empirical evidence regarding the application and effectiveness of risk management tools and strategies. risk and valuation of the underlying business. 4) Being technically competent in applying relevant techniques to determine the effects of implementing risk management actions or strategies. FIN3FRM /Financial Risk Management / ACN Page 5 of 17 Faculty of Law and Management. 5) The ability to apply theoretical principles and knowledge to practical decision situations and be able to rationally consider the potential decision responses and discriminate the advantages. mathematical and problem-solving skills applicable to a corporate financing environment. La Trobe University . disadvantages and consequences of implementing these decisions on the structure. 3) A basic ability to choose the appropriate derivative market to an identified financial risk.
Assessments Tutorials Multiple Choices tests Assignments Examination Page 6 of 17 FIN3FRM /Financial Risk Management / ACNs Faculty of Law and Management. 3) An understanding of the difference between forward markets. 5. in particular objectives 3.3. La Trobe University . Assessments Lectures 1 and 2 Tutorials 1 and 2 Multiple choice Test 1 Learning objectives. futures markets and options markets.2 Assessing the learning objectives Learning objectives. 2) Basic ability to hedge long or short positions 3) Basic ability to calculate the value of the hedged position 4) Ability to understand the risks associated with each derivative market introduced. 4. in particular objectives 1 and 2 and 3: Student learning outcomes 1) Understand why financial firms use derivative markets 2) Knowledge of the different derivate markets. 2) A basic ability to understand which derivative market to use for an identified financial risk. 6 and 7: Student learning outcomes 1) Basic ability to calculate and price derivatives.
and will be focussed on measuring exposure to risk and the management of risk using forwards and futures. Section B: Students must complete one of two questions. The examination will be divided into four sections: Section A: Students must complete approximately15 multiple-choice questions worth one mark each and 5 short answer questions. 3.10 and 12 TBA % Allocation 30 % 70 % 3. A minimum of 40% (i. logical.6.e. textual and/or FIN3FRM /Financial Risk Management / ACN Page 7 of 17 Faculty of Law and Management. which will offer a choice between two questions requiring a primarily theoretical. The examination will be of three hours duration with an additional 15 minutes reading time. About half of the questions will be calculative and about half textual. 8. Section C: Students must complete one of two questions. Each Quiz will comprise ten multiple-choice questions. Results for the Tutorial Quizzes will be posted to the Unit Website. together with some interpretation of the results. Each Quiz will be based on problems set for previous tutorials (See Tutorial Outline). NO SUPPLEMENTARY QUIZZES WILL BE OFFERED. which will offer a choice between two questions requiring a calculated answer or answers. La Trobe University . 28/70) will be required to be obtained for the final exam alone. in addition to a minimum of 50% of the entire assessment load.3. in order to obtain a pass for the unit. The weeks in which a Quiz will be held are listed on the front cover of the Unit Outline and the topics to be covered by each Quiz are listed in the Tutorial Outline.1 Tutorial Quizzes Tutorial Quizzes comprise 30% of total assessment. Questions may be drawn from the entire range of topics.3 Assessment tasks Assessment will involve students in three types of Assessment Tasks: Assessment task 5 Tutorial Quizzes Final Exam Duration 15 minutes 3 hours Due Date Week 4. The topic of these questions will be drawn from lecture topics 1 – 4 individually or in combination. each worth two marks.3. The section is worth 25 marks. divided as specified on the exam paper among any sub-questions.3. Students will be required to complete three Quizzes in total. Each Quiz will be designed to be completed in fifteen minutes. analytical.2 Final Examination The Final Examination comprises 70% of total assessment. theoretical or factual.
The section is worth 25 marks. The topic of these questions will be drawn from lecture topics 1-12 and will be focussed on measuring exposure to risk and the management using each of the derivatives studied in the course. 3. Students will be given a formula sheet containing the main formulas they will need to answer exam questions in the Final Examination room. in addition to a minimum of 50% of the entire assessment load.4 3. Students are required to attach a signed and dated Assignment Cover Sheet to each of their Assignments. 28/70) will be required to be obtained for the final exam alone. divided as specified on the exam paper among any sub-questions. other than the quiz paper and the answer sheet/booklet may be open during the exam. La Trobe University . Multiple-choice Question: Page 8 of 17 FIN3FRM /Financial Risk Management / ACNs Faculty of Law and Management.e.graphical answer.2 Assessment criteria Assessment Conditions: The Tutorial Quizzes are closed book Assessment Tasks. If the Student ID is incorrect the answers will be attributed to the Student ID associated with the Student Name provided. Section D: Students must complete one question.4. In the absence of both a correct Student ID and an identifiable Student Name the answers will remain unattributed. No materials. The formula sheet must be submitted together with the student’s examination papers. 3. Otherwise the Final Examination is a closed book examination. Students are REQUIRED to enter their Student ID on all answer sheets/booklets for all Assessment Tasks. divided as specified on the exam paper among any sub-questions.1 Assessment Requirements and Definitions Passing the subject A minimum of 40% (i.4. Students are ADVISED to write their names on the back of the Tutorial Quiz answer sheet so as to check the Student ID provided. The section is worth 25 marks. in order to obtain a pass for the unit. The topic of these questions will be drawn from lecture topics 5-7 and will be focussed on the terms structure of interest rates and hedging swaps. requiring some calculation and some analytical explanation.
A decipherable answer based on a formula. which provides an inaccurate but plausible answer. logically or otherwise incorrect. 1-2 1-4 2. AND which is significantly incomplete. OR an indecipherable answer. OR an indecipherable answer. Analytical. inaccurate or unfounded.Marks 0% 100% Criteria No answer. Factual or Descriptive Question: Marks out of 5 0 Marks out of 10 0 Criteria 1-2 1-4 2. logic or fact AND which is complete and accurate AND which contains some exposition of the main points. Interpretative. procedure or calculation which is irrelevant to the question.5 5 FIN3FRM /Financial Risk Management / ACN Page 9 of 17 Faculty of Law and Management. OR an answer which is irrelevant to the question. procedure or calculation which is relevant to the question AND which is correctly applied. logic or fact AND which is complete and accurate AND which contains some theoretical and/or empirical insight and analysis of the main points. AND/OR fails to provide complete workings for the solution. OR an answer based on an incorrect formula. A decipherable answer based on a correct formula. OR an answer based on a formula.5 5 3-4 6-8 5 9-10 No answer. OR an indecipherable answer. La Trobe University . A decipherable answer which is relevant to the question AND which is demonstrably well founded in theory. logic or fact AND which is substantially complete and accurate. A decipherable answer which is relevant to the question AND which has SOME theoretical. BUT which contains a significant error (calculated to 4 decimal places) OR is incorrectly applied. procedure or calculation which is relevant to the question AND which is correctly applied. Logical. A decipherable answer which is relevant to the question AND which is demonstrably well founded in theory. OR an answer other than the most accurate answer. logical or factual basis BUT for which any exposition of the theoretical. logical or factual basis is lacking from the answer. and for which complete workings for the solution are provided. OR several answers. The most accurate answer. Calculative Problem: Marks out of 5 0 Marks out of 10 0 Criteria No answer. procedure or calculation. BUT which contains a minor error (calculated to 4 decimal places). A decipherable answer which is relevant to the question AND which is demonstrably well founded in theory. OR an answer which is factually.
26. A decipherable answer based on a correct formula. There are many forms of plagiarism. including the following: direct copying of sentences. AND which is correctly expressed AND for which complete and correct workings are provided AND for which an insight into. except for “significant errors”. A “significant error” is an error of an order of magnitude. which should have been detected as an unlikely answer. Note: Rounding discrepancies and errors carried forward. AND which contains no errors (calculated to 4 decimal places). with one mark deducted for not picking up the error.4. independent work in collaboration with and/or using the work of other people (e.” Page 10 of 17 FIN3FRM /Financial Risk Management / ACNs Faculty of Law and Management. paragraphs or other extracts from someone else’s published work (including on the Internet and in software) without acknowledging the source paraphrasing someone else’s words without acknowledging the source using facts and information derived from a source without acknowledging it using ideas directly derived acknowledging the source from an identifiable author without producing assignments which should be the student’s own. 3. P.g. or understanding of. the procedure or context is provided. procedure or calculation which is relevant to the question AND which is correctly applied.3 Academic Plagiarism The following warning is issued by the University (Undergraduate Course Handbook: 2009. BUT which is incorrectly expressed OR for which complete and correct workings are not provided. a student or tutor). If the error carried forward is a “significant error” then the question will be marked as if the error did not exist.htm “One form of academic cheating is plagiarism: the reproduction of someone else’s words. procedure or calculation which is relevant to the question AND which is correctly applied.edu.3-4 6-8 5 9-10 A decipherable answer based on a correct formula. La Trobe University . You can access the Handbook at: http://www.au/handbook/2009/general/academic-matters. ideas or findings and presenting them as one’s own without proper acknowledgment. are not defined as errors. AND which contains no errors (calculated to 4 decimal places).latrobe.
in all your written assignments. STUDENTS ARE ADVISED TO FAMILIARISE THEMSELVES WITH THE RULES CONCERNING ACADEMIC MISCONDUCT Further explanations for ‘academic misconduct’ and for ‘plagiarism’ are available at: http://www.4. You will be advised of the services available to you.g.g.latrobe.au/plagiarism 3. and penalties that may apply.. Support and advice on fulfilling the School’s requirements with respect to the writing of essays/assignments is available from staff and the Language and Academic Skills Unit (See http://www. 3.1 Academic Skills Students seeking assistance in Academic Skills should contact their campus administration in the first instance for help. accurate and correct referencing).5.edu. To ensure that you are not guilty of plagiarism you must.au/lawman/about/teaching-and-learning/lasu .Plagiarism and copying the work of other students are forms of cheating and will be treated accordingly. through to suspension from your course in serious cases or repeat offences.latrobe. Plagiarism detection and prevention software (e.au/policy/academicpolicies?queries_category_query_posted=1&queries_categ ory_query=Academic&search_page_36465_submit_button=Submit¤t_result_page=1&results_p er_page=0&submitted_search_category=&mode= and http://www.. Students found guilty of academic misconduct may receive penalties ranging from a requirement to participate in academic counselling or a reduction in marks for an individual piece of assessment for minor cases. It is the responsibility of all students to ensure that they are aware of relevant academic requirements (e. All sources of information used in essays/assignments must be acknowledged fully in accordance with academic convention.edu. FIN3FRM /Financial Risk Management / ACN Page 11 of 17 Faculty of Law and Management.latrobe. declare all sources from which you have obtained materials or ideas. and to seek assistance from staff where required. The above policy links provide relevant information about plagiarism.5 Special circumstance processes 3. academic misconduct. Turnitin) is used in the School to aid in identifying possible incidences of plagiarism in written assignments (see http://www. La Trobe University .edu.latrobe.edu.au/turnitin).5 Regional School of Business Policy on Plagiarism The Regional School of Business aims to protect and enhance the authenticity and value of the degrees it offers. Students are therefore reminded of the extremely serious view of the University with regard to plagiarism.
and (b) in that written application provide reasons for the failure to attend or details of the basis of that illness or other cause. or in the course of. (c) where that application relates to illness lodge a medical certificate. For further enquiries or appointments ring 5444 7223 or email the unit on ben-academicskills@latrobe. You must subsequently furnish in writing a statement containing the circumstances together with any medical evidence or other such evidence as may be applicable . the examination you may.edu. (b) in that application provide details of the basis of the illness or other cause and list the subjects and examinations to which the application relates. 3. Assistance is also provided in English as a Second Language (ESL). essay and report writing. in the first instance inform the supervisor at any time during the examination. Your application will then be forwarded to the University for consideration.The Academic Skills Unit (ASU)at La Trobe University provides language and learning assistance to students in a range of areas including critical and analytical thinking. and should be lodged at. A student who fails to attend an examination or whose performance at an examination has been adversely affected by illness or another cause and who wishes to apply for special consideration shall: (a) lodge a written application with the Student Administration Office within 72 hours after the commencement of the examination. If you consider that your performance in an examination has been adversely affected by illness or other cause immediately prior to. your local Administration Office.5. and (d) lodge such an application before any examination (NO quiz) to which any such application relates.2 Special Consideration If you believe that your studies have been adversely affected by illness or another cause throughout the year you may apply for special consideration.au. reading strategies. Special Consideration application forms are available from your campus office or at the web link mentioned below. It is important to note that submission of an application for special consideration means only that the difficulties referred to therein will be brought to the attention of the Page 12 of 17 FIN3FRM /Financial Risk Management / ACNs Faculty of Law and Management. and oral presentations. A student who makes an application shall: (a) lodge such an application in writing with the Student Administration Office. and (c) with that application lodge documentation which supports the application.not later than 72 hours after the commencement of the examination. including a medical certificate where the application involves illness. La Trobe University . Students enrolled in courses or subjects that have continuous assessments should contact their Faculty Office for advice on applying for Special Consideration.
Students who are unsatisfied with the result of a review may request a re-mark.edu. It does not necessarily mean that special consideration will be granted. La Trobe University .5. please contact your campus administration in the first instance for instructions on how to apply.3 Review and Re-mark of Students’ Academic Work All students have the right to request a review of individual pieces of assessment worth 20% of more of the final result for a subject. FIN3FRM /Financial Risk Management / ACN Page 13 of 17 Faculty of Law and Management. Bundoora and Bendigo campus will acknowledge receipt of all special consideration application forms within 48 hours.pdf 3.latrobe. This acknowledgement will be sent via email to your La Trobe University student email account. within ten working days of the release of the result for the individual assessment task. 3. Special Consideration forms and notes can be found at the following Web links: http://www.edu.au/policy/documents/review-re-mark-work-policy-2009-04-02. for assessment tasks that the University does not return to students with a grade. All enquiries regarding outcomes of the special consideration applications should be directed to your campus Administration Office.examiner(s) in the )/subject(s). Except where there are extenuating circumstances.5.au/acadserv/current/2009_Application_for_Special_Consi deration_A3_%20form_Layout_1.edu. Acknowledgement of Receipt of Applications The Student Administration Office on the Albury/Wodonga. Who to see for help Please contact your administration team at your campus with any queries. within ten working days of the release of the final results for the subject for which the task was completed.latrobe.4 Problems.pdf http://www.p df For all review and remark requests. the request for a review must be made within the following time lines: for assessment tasks that the University returns to students with a grade.latrobe. For more details please see: http://www.au/acadserv/webforms/Special%20Consideration%20Notice% 20to%20Students%20June%202009%20(3). A student may have no more than one review and one re-mark of any individual piece of assessment or subject result.
13. 6. 9. 16.4. 8. 14. 7. 20. 4. 21 1 and 2 1. 18. 4 and 5 5 6 Hull 6 1. 11. 16. 2 . 22 8. 3. 15. 5. 20 1. 3. 3.0 Teaching arrangements 4. 19 9.1 Week no. 17 9. 6. 3 and 4 9. 3 and 4 5. 10 11. 10. 1 2 3 4 Tutorial and Assessment Schedule Topics Assessment Tasks (Topics) Text Problems Learning Objectives No Tutorials Risk factors Mechanics of forwards and futures Term structure of interest rates and the pricing of forward contracts Forward prices and the pricing of futures contracts Measuring and managing interest rate exposure Pricing swap contracts Hedging exposure with swaps Option contracts Quiz 3 (Topics 6-7) Quiz 2 (Topics 4-5) Quiz 1 (topics 1-3) Hull 1 Hull 2 Hull 3 Hull 4 Hull 5 Hull 5 1. 7. 10. 10. 2 . 10. 4. 3. 4. 15. 9. 3. 19. 14. 4. 6 and 7 1. 17 1. 3.2 Lecture Topics and Associate Readings Page 14 of 17 FIN3FRM /Financial Risk Management / ACNs Faculty of Law and Management. 4. 3. 2 . 12. 12. 15. 6. 9. 5. 12. 6. 12. 9. 5. 8. 18 1. 20 1. 22 4.1 Normal schedules 4. 2 . 6 and 7 1. 12 1. 14. 16. 2 . 3. 2. 16. 2 . 2 . 8. 3.1. 10. 17. 4. 4. 6 and 7 7 8 9 Hull 7 Hull 7 Hull 9 10 11 Hedging exposure with options Pricing option contracts Quiz 4 (Topics 8-9) Hull 10 Hull Hull Hull Hull 11 12 13 17 12 13 Hedging non-linear risks Weather Quiz 5 (Topics 10-11) Hull 24 4. 11. 6 and 7 1. La Trobe University .1. 12. 12. 13. 10. 15. 12 2. 6 and 7 1. 5. 4. 9. 5. 17. 2 . 12. 11. 21. 17. 14. 2 . 5. 6 and 7 1. 11. 6 and 7 1. 13. 5. 9. 5. 7. 17. 11. 2 . 2 . 15. 6 and 7 1. 11 8. 14. 16. 10. 18. 7 1. 11. 17 10. 16. 3. 3. 14.
theta. 1 Week no. 1 Topic Risk factors Sub-topics Sources of risk Measures of market risk Managing market risk Principal concepts Differences between the forward and futures price Hedging long and short positions Measuring and managing basis risk Cross hedging Calculating the optimal hedge ratio Measuring and managing the risk of an equities portfolio Theoretical spot interest rates and curves Theoretical forward interest rates and curves Pricing a Forward Rate Agreement (FRA) Theories of the term structure of interest rates Pricing a generic forward contract Pricing stock index forwards Pricing currency forwards Pricing commodity forwards Differences between the forward and futures price Sources of risks associated with bonds Approaches to measuring interest rate risk Pricing interest rate futures Managing the interest rate risk of a loan Managing the interest rate risk of a bond portfolio Characteristics of swaps The comparative advantage theory of swaps Theoretical LIBOR/swap rates and curves Valuation of interest rate swaps Valuation of currency swaps Converting a floating interest rate to a fixed rate Adjusting the duration of a bond portfolio Converting the currency of a loan Diversifying an equity portfolio Factors affecting option prices Upper and lower bounds for option prices Put-call parity The effect of early exercise The effect of underlying cashflows Covered calls and protective puts Spreads and combinations Caps and floors Text Hull 1. La Trobe University . vega and rho Managing the risk of options: delta hedging Managing the risk of options: gamma hedging Managing the risk of options: vega hedging Definition and examples of weather derivatives Hull 24 Weather linked options Forward price Metallgesellschaft AG Hull 25 Orange County FIN3FRM Barings plc /Financial Risk Management / ACN Page 15 of 17 Faculty of Management Long Term Capital Law and Management.2 2 2 Mechanics forwards and futures Hull 2.3 3 3 4 4 Term structure of interest rates and the pricing of forwards Forward prices and the pricing of futures contracts Measuring and managing interest rate exposure Pricing swap contracts Hull 4 Hull 5 5 5 Hull 6 6 6 Hull 7 7 7 Hedging exposure with swaps Option contracts Hull 7 8 8 Hull 9 9 9 10 10 Hedging exposure with options Pricing option contracts Hull 10 11 11 Hedging non-linear risks 12 12 Weather derivatives Case studies in risk management Revision 13 13 Hull 11. gamma. 12.Topic No. Binomial model of options pricing Black-Scholes-Merton model of options pricing &13 Pricing options on individual stocks and indices Pricing options on currencies Pricing options on interest rates Hull 17 Measuring the risk of options: delta.
latrobe. Pearson.0 Learning resources 5. Your views will be taken seriously and will assist lecturers to enhance subjects for the next group of students.1 Prescribed and recommended texts Students are required to have access to the following textbook: Hull. online discussions. In this survey you are invited to tell us about your learning experiences in the subject you studied. To access your LMS account for this Unit use your web browser (eg.edu. We want you to tell us how you experienced the subject. at http://www. is a good place to start. 7th edition. LMS Student Help. La Trobe University . 6. reference materials.latrobe.au and enter your Username and Password to gain access. When the surveys reach you.C. Many units taught at La Trobe University provide students with access to LMS providing them with access to learning materials and activities.au/studentlmsinfo/ . please make time to tell us your views. Page 16 of 17 FIN3FRM /Financial Risk Management / ACNs Faculty of Law and Management.5.edu. 5. New Jersey. (2011).0 Feedback and quality assurance processes The Student Subject Feedback Survey is part of the quality assurance process that occurs across the university. J.2 LMS LMS is a learning management system that is used in many universities across the world. MS Internet Explorer) to access http://webct. such as the Unit Learning Guide. email. Fundamentals of Futures and Options Markets.
They also learn a method of inquiry which can be applied to any primary decision making legislation. Become a member of a private study group Research shows that students who learn co-operatively learn more effectively. Students need to be able to apply that knowledge. The ‘assignment level’. By listening carefully to the lectures. among other things: discuss the questions in the Week-by-Week Learning Guide (even if not discussed in the tutorials) practice solving the quiz problems at the end of each chapter discuss and prepare answers to previous examinations. It is unique in certain respects.7. having due regard to the advisory study timetable below. They also learn the emphasis placed on particular parts of the prescribed reading. students become acquainted with the general principles of the subject. Students will find that the material covered each week builds on the knowledge in previous weeks. The unit is not the same as any textbook. Without listening to the lectures you will not learn fully how the unit is structured. students practise their techniques and have the opportunity to obtain feedback on their written work from their tutorial leader. students become expert with the primary decision making legislation the subject of the examination. The ‘tutorial level’. By undertaking the Legislation Assignment at regular intervals throughout the unit. The more problems you attempt the more proficient you will become and the more you will get out of this course. For many students the problems that you will be required to complete each week will require a number of hours to complete. Make effective use of available e-learning tools Allow sufficient time for study Students should endeavour not to get behind in the allocated weekly workload for this course. If you become a member of a private study group you can. FIN3FRM /Financial Risk Management / ACN Page 17 of 17 Faculty of Law and Management. each week they conscientiously study the unit at three levels: The ‘lecture level’. La Trobe University .0 Learning effectively in this subject Participate in all the learning activities Students should succeed in this unit if. By participating in tutorials. A body of knowledge gained at the lecture level is insufficient to pass the unit. While each topic is designed to be studied separately the overall concept of risk management will only come together at the end of the course when all topics have been completed. Begin doing the tutorial early in the week so you maximise your personal outcome.
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