BA 6005 waiver information

Students who have taken an equivalent course (undergraduate (e.g., FIN 3290) or graduate) in the last five years with a grade of at least B will have BA 6005 waived. Students who do not meet this condition may choose to take and pass a waiver exam administered by the Department of Finance. Students who do not meet these conditions may take and pass a waiver exam administered by the Department of Finance; however, they are strongly encouraged to take BA 6005. Following is information about the waiver of BA 6005 by exam.

What is the objective of BA 6005?

BA 6005 is an introductory finance course for new business students. The primary objective of the course is to learn and analyze the fundamental concepts and theories of finance and to provide a conceptual framework of financial management. Students in the class study the concept and value of time and money and use it to value basic financial instruments and examine different techniques needed to evaluate a firm's capital budgeting decisions and estimate the cost of capital.

Is there a text I could use to prepare for the exam?

Parrino, Kidwell, and Bates, Fundamentals of Corporate Finance, fifth edition, Wiley Publishing, ISBN: 978-1-119-79538-4


  • Chapter 1: The Financial Manager and the Firm
  • Chapter 5: The Time Value of Money
  • Chapter 6: Discounted Cash Flows and Valuation
  • Chapter 7: Risk and Return
  • Chapter 8: Bond Valuation and the Structure of Interest Rates
  • Chapter 9: Stock Valuation
  • Chapter 10: The Fundamentals of Capital Budgeting
  • Chapter 11: Cash Flows and Capital Budgeting
  • Chapter 12: Evaluating Project Economics and Capital Rationing
  • Chapter 13: The Cost of Capital

How do I schedule the exam?

The exam is conducted in an online format during designated dates and times, typically the second and third Friday of each month, with start time of 9 a.m. or 1 p.m. (a total of 3 hours is allowed to take the exam). Please email to receive the available dates of the exam or for further information.

A response may take 1-2 business days and you must commit to a scheduled exam date and time at least 1 week prior to the exam. Please email at least 24 hours in advance should you want to cancel your appointment to take the exam. Cancellations that are less than 24 hours before your appointment to take the exam may result in no further opportunity to take the exam.

What will be the structure of the exam?

The examination will be in multiple-choice format, with approximately 40 questions. The exam will be a closed-book and closed-notes exam. However, you will be able to download a formula sheet from the waiver exam Canvas site with all the necessary formulas you may need to answer the questions on the exam .

Can I use a financial calculator in the exam?

Yes, you can. You are expected to bring a financial calculator to the exam. You can also bring the manual for the financial calculator.

How much time will I have to take the exam?

You will have three hours to complete the exam.

What is the passing score?

The passing score is 75%.

When will I know if I passed or failed the exam?

You will receive an email to your Wayne State University email address within one week of taking the exam. You may also email to find out if you passed or failed, one week after taking the exam.

Should I fail, can I retake the exam?

No, you cannot. You may take the exam only once. Failing the exam means you do not have the necessary financial background to take graduate finance courses, and you must take BA 6005.

Who should I call if I have questions about the content of the exam? 

Please email Basma Bekdache who will be glad to assist you.