Undergraduate Student Handout for Educational Testing Services Major Field Test in Business Fall 2011 Background Information:

Some of you are aware that UNO CBA is accredited by the Association to Advance Collegiate Schools of Business (AACSB) International. There are fewer than 600 such accredited schools in the world today. Being AACSB accredited indicates a high quality program, and also allows us to induct our students into Beta Gamma Sigma. Part of the requirements under recently revised accreditation standards are to set up and maintain an assessment program aimed at creating an environment of continuous improvement in AACSB schools curricula. So, we here in CBA are currently creating such a program. Both the graduate and undergraduate programs will be assessed on the basis of their learning goals and objectives in a variety of activities in many different courses. One part of that is the relevant goal/objective related to our students understanding of, and ability to demonstrate, knowledge in core business areas. The Educational Testing Service Major Field Test (MFT) will be our primary assessment tool for this goal/objective, however, other assignments and exams will also be part of the assessment process. The Business MFT will be used in the undergraduate capstone course. Since you are enrolled in this course, you will be taking an MFT this semester. It is important that you do your best on the exam for three reasons: (1) your score will affect your performance in the capstone course and (2) a high average for our school will enhance the economic value of your degree and (3) your aggregate performance will be used to make future curricular decisions. Details about the exams and how we will administer them are discussed below. If you have questions after reading that material, contact either your professor or Dr. Henebry, the CBA Assessment Coordinator at khenebry@unomaha.edu or 402-554-3153 or her office in 228B Mammel Hall. Exam Length: The Business exam is 120 multiple choice questions in two one-hour sections. There is a short tutorial at the beginning of the exam to familiarize you with the way it runs. You will have an opportunity for a short break between sections one and two if you desire it. At the end of the MFT you will be asked to answer a few additional questions regarding post graduation plans. These are also needed for assessment and accreditation. These questions will be answered on the computer as part of the ETS process. The ETS exam process should take about 2 hours. For students in all majors, except accounting, additional assessment questions related to their areas of specialization will be administered immediately after the ETS exam on paper bubble sheets. As students sign onto the ETS exam, the proctor will tell them which specialization questions they will need to take at the end of the ETS. The proctor will provide the appropriate sets of questions and will collect them when each student is finished. These questions will be used to assess knowledge of more advanced topics within the areas of specialization offered within the Management, Marketing, Finance, Economics and Real Estate majors. Students with these majors should therefore, plan on more time (about 30 additional minutes) to complete the assessment testing. No one will answer more than one set of specialization questions. Sample Questions: Sample questions for the MFT exam are available as downloadable PDFs from the ETS web site. Go to http://ets.org and click on Major Field Tests. Then scroll down to the list of exam links and click on Bachelors Degree in Business. Click on the sample questions PDF link. You will need the Acrobat Reader to utilize these files. There is a link just to the left of the sample question link to get that if you dont have it. Your instructor may also post these sample questions as a PDF on the Blackboard site for your section of the course. Location and Scheduling for the Exams: The exams will be given on-line in MH 319; located on the 3nd floor above the main atrium in our building. The exam is proctored, and you will need to surrender your student ID to be signed on to the exam site. You will NOT be allowed to use a calculator or any other aid except a pencil and scratch paper. Scratch paper will be provided and collected by the proctor before you leave the test room. Exam Dates are: Friday November 11th and Friday November 18th at 9 AM, 1 PM and 6 PM and Saturday November 12th and Saturday November 19th at 9 AM and 1 PM. Please sign up by Friday October 7th. The book

Undergraduate Student Handout for Educational Testing Services Major Field Test in Business Fall 2011 with the sign-up sheets is in the open computer lab on the 2nd floor. As the lab has evening hours, all students should be able to sign up conveniently. There are limited seats for each sitting, so sign up early for your preferred time slot. When you sign up, print your whole legal name on the sign-up sheet. I need to be able to cross reference with an official roster and with Lotus Notes/gMav email. Nicknames and missing middle initials make that very difficult. Please also enter your preferred email address if it is something other than your UNO account in case I need to contact you for any ETS exam related reason. Finally, please enter your professors name and section number so that I know which roster to match you to. IN THE EVENT THAT A TESTING SESSION IS CANCELLED WHILE THE UNIVERSITY REMAINS OPEN: AN EMAIL NOTICE WILL BE SENT OUT TO YOUR UNO EMAIL ACCOUNT UNLESS YOU HAVE PROVIDED US WITH AN ALTERNATE EMAIL ADDRESS. INSTRUCTIONS ON HOW TO RESCHEDULE YOUR EXAM WILL BE IN THAT EMAIL. CHECK YOUR EMAIL ACCOUNT BEFORE GOING TO CAMPUS FOR YOUR EXAM. IF UNO IS CLOSED, OF COURSE, ETS TESTING SESSIONS WILL BE CANCELLED AND AN EMAIL WITH DIRECTIONS ON HOW TO RESCHEDULE WILL STILL BE SENT TO YOUR UNO EMAIL ACCOUNT. Exam Coverage: I. Accounting (about 15% of the total exam) A. Financial Accounting a. Conceptual Foundations b. Income Statement and Statement of Retained Earnings c. Balance Sheet d. Statement of Cash Flows B. Managerial Accounting a. Costs Concepts b. Product Costing Systems c. Activities Based Costing d. Cost, Volume and Profit Analysis e. Budgeting (except capital budgeting covered under Finance) f. Standard Costing g. Nonroutine Decision Making C. International Accounting II. Economics (about 13% of the total exam) A. Basic Economic Concepts a. Scarcity and Opportunity Cost b. Production Possibilities Frontier c. Comparative Advantage and Specialization d. Economic Systems B. Microeconomics a. Supply and Demand b. Models of Consumer Choice c. Production and Costs d. Product Market Structures e. Resource Markets f. Market Failure and the Role of the Government C. Macroeconomics a. Measurement of Economic Performance b. Aggregate Demand and Aggregate Supply c. Money and the Banking System d. Monetary Policy and Fiscal Policy e. Economic Growth D. International Economics a. International Trade and Policy b. Exchange Rates

Undergraduate Student Handout for Educational Testing Services Major Field Test in Business Fall 2011 c. Balance of Payments III. Management (about 15% of the total exam) A. Management Process a. History and Theory b. Functions (Organizing, Leading, Planning, and Controlling) c. Group/Team Dynamics d. Total Quality Mgmt B. Organizational Behavior a. Leadership and Motivation b. Communication c. Managing Diversity d. Human Resource Mgmt C. Strategy and Policy a. Strategic Analysis b. Policy Determination D. International/Cross Cultural Mgmt E. Entrepreneurship IV. Quantitative Business Analysis (about 11% of the total exam) A. Probability and Statistics a. Measure of Set Operations b. Conditional/Joint Probabilities c. Counting Rules d. Measures of Central Tendency and Dispersion e. Distributions (including normal and binomial) f. Sampling and Estimation g. Hypothesis Testing h. Correlation and Regression i. Time-Series Forecasting j. Statistical Concepts in Quality Control B. Management Science a. Linear Programming b. Project Scheduling (including PERT and CPM) c. Inventory and Production Planning d. Managing Continuous Improvement e. Special Topics (including queuing theory, simulation and decision analysis) Information Systems (about 10% of the total exam) A. Information Systems in Business and Society a. Information Mgmt in a Global Society b. Security, Privacy and Ethical Issues B. Information Technology Concepts a. Hardware Technology b. Software Technology c. Database Mgmt Systems d. Network and Internet Technology C. Business Information Systems a. Automation and Support Systems b. Transaction Processing Systems c. Management Information Systems d. Decision Support and Expert Systems e. Strategic Information Systems D. Systems Development

V.

Undergraduate Student Handout for Educational Testing Services Major Field Test in Business Fall 2011 a. Systems Investigation and Analysis b. Systems Planning Development and Implementations VI. Finance (about 13% of the total exam) A. Corporate Finance a. Time Value of Money b. Capital Budgeting c. Working Capital Mgmt d. Financial Statement Analysis e. Cost of Capital and Capital Structure B. Investments a. Risk and Return b. Valuation of Securities c. Financial Markets and Environments C. International Finance Marketing (about 13% of the total exam) A. Identifying Attractive Markets a. Strategic Marketing Planning b. Scanning Market Environment c. Marketing Research and Information Technology Tools d. Consumer and Organizational Buyer Behavior B. Marketing Institutions a. The Marketing Mix (Product, Price, Place and Promotion) b. Segmenting Consumer and Organizational Markets c. Marketing Services d. Marketing for Not-for-Profit Organizations e. Marketing for Social Causes C. International Marketing Legal and Social Environment (about 10% of total exam) A. Legal Environment a. Courts and Legal Systems b. Constitution and Business c. Administrative Law d. Tort Law e. Crimes B. Regulatory Environment a. Employment Law b. Labor Law c. Antitrust Law d. Consumer Protection e. Environmental and International Law f. Security Regulation C. Business Relationships a. Contract and Sales Law (UCC) b. Business Organizations c. Law of Agency d. Intellectual Property D. Ethics and Social Responsibility a. Ethics b. Social Responsibility IX. International Issues Overlapping and drawn from Economics, Finance, Management and Marketing Topics IC, IID, IIID, VIC, VIIC, and VIIIB5)

VII.

VIII.