STAT0011/38 ICA 2023 Assessment Criteria
Hello, dear friend, you can consult us at any time if you have any questions, add WeChat: daixieit
STAT0011/38 ICA 2023 Assessment Criteria
Decision and Risk
In order to obtain full marks, students not only need to provide accurate final numerical an- swers, but also need to demonstrate understanding and include: reasonable and accurate inter- pretation of estimation and simulation results, demonstrate the validity and clarity of reasoning; produce a clear and well-structured report, including correctness of spelling and grammar.
Task 1 Weight attached: [10]
– providing a sensible preamble to the question.
– producing a sensible loss matrix.
– providing an accurate numerical solution.
– providing an accurate graphical solution.
– providing a detailed marking scheme (See ‘ICA 2023 - Task 1 Example Format’ file).
Task 2 (a) Weight attached: [15]
– data collection and organisation (e.g. constructing log-returns).
– correctly constructing portfolio of log-returns.
– correct application of the parametric approach to compute VaR.
– accurate and relevant discussion of strengths and weaknesses of the parametric ap- proach.
(b) Weights attached:
– correct application of the Monte Carlo simulation approach to compute VaR; ade- quately carrying out model selection, estimation and simulation steps; implementing the relevant and adequate checks/tests (e.g. distributional checks, autocorrelation plots, GARCH effects, etc.). [25]
– reasonable justification and explanation of why particular marginal and copula models were selected; accurate interpretation of estimation results. [10]
– neat presentation of all estimation results (in tables) and computer code (within the text1 ); use of adequately sized and captioned relevant figures and tables. [5]
– accurate and relevant discussion of strengths and weaknesses of the Monte Carlo simulation approach; evidence of criticality 2 . [10]
(c) Weight attached: [5]
– accuracy and clarity of reasoning, validity of interpretation, relevance of conclusions.
Excerpt from the Departmental Student Handbook.
For assessed work, feedback will include a provisional letter grade. The correspondence
between letter grades and percentage marks, along with guidance regarding the
interpretation of each grade, is as follows:
Grade Mark Interpretation
|
Pass |
A+
A
B
C
D |
N 80.00%
70.00% to 79.99%
60.00% to 69.99%
50.00% to 59.99%
40.00% to 49.99% |
The criteria for an A grade are all met. Additionally, exceptional quality has been demonstrated with respect to at least two of the following: understanding, insight, depth of analysis or clarity of discussion, with evidence (where appropriate) of relevant knowledge or reading. The criteria for a B grade are all met, along with one or more of the following: high quality answers in a wide range of questions, evidence of a very sound understanding, thoroughness of discussion and clarity of expression, evidence of insight, wide knowledge or reading. There may be a small number of relatively minor errors or inconsistencies, but there should not be serious errors in knowledge or understanding. Good understanding of the questions asked, good knowledge of the main aspects of the subject and good levels of appropriate skills (such as the ability to carry out calculations and manipulations, and to develop a logical argument). At the higher end of the range, one would expect to see clear expression and presentation. A few mistakes are allowable, providing they are not serious. Reasonable understanding of the subject, and a reasonable level of ability in the appropriate skills. Work in this category may fail to reach Grade B either because it does not demonstrate a wide enough range of knowledge (e.g. some good answers, but too many questions or part questions either omitted or answered inappropriately), or because skill deficiencies lead to too many mistakes or badly presented answers. Basic but limited understanding of the subject, together with some basic ability in the appropriate skills. There may be many mistakes, but there will be clear evidence of some relevant knowledge. |
F
Fail
AB
1.00% to
39.99%
2 0.99
Not of pass standard. At the higher end of the scale a very limited understanding may be present, but answers will present little evidence of relevant knowledge and contain many mistakes, irrelevancies or misunderstandings. At the lower end, answers will show little or no understanding of either the questions or the subject.
No/ minimal attempt. Marks in this range are awarded to students who are absent or do not submit an assessment, or attempt so little of it that it cannot be assessed.
2023-03-13
Decision and Risk