Abstract
An item set, often called a multiple-choice minicase, is a short case accompanied by several multiple choice items keyed to the case. Item sets are used heavily in professional certification exams in finance, including exams for the CFA, CPA, and CFP. This paper provides background for faculty who may wish to employ this exam format and for students who may wish to gain experience taking exams that include item sets. The paper includes several item sets that are designed to be used in an introductory investments course.
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