Verification of Initial Preparation (VPI) and Additional Training Obligations (OFA)
The Verification of Initial Preparation (VPI) is a compulsory test for all students enrolled in the 1st year of an undergraduate or integrated degree programme, in order to be able to ascertain the basic knowledge to successfully attend the chosen degree programme. The VPI is not a constraint for access to or attendance to the course, but it is an opportunity for students to measure their knowledge and skills at the beginning of their university career.
The test date is automatically assigned following enrolment. You can view and modify it, only if strictly necessary, through your personal iCatt page.
The test is held remotely online and the technical details are communicated to the student following enrolment
Students with disabilities or Specific Learning Disorders (SLD) are invited to view the dedicated section by clicking here
For this degree programme, the test consists of a series of online multiple-choice questions, lasting a total of 45 minutes, in the following subject area:
- Knowledge of the Italian language and reading comprehension (5 questions)
- Mathematics (15 questions)
The positive outcome of the test is achieved with 50%+1 of the correct answers.
In the event of a negative result or absence from the test, an Additional Training Obligation (OFA) is assigned to fill the gaps found.
Students with disabilities or Specific Learning Disorders (SLD) are invited to view the dedicated section by clicking here
For this degree programme, the Faculty has determined an Additional Educational Obligation (OFA) which consists of:
- "Mathematics": pre-course delivered in online mode lasting 20 hours, with final examination
- "Knowledge of the Italian language and comprehension of the text": 12-hour online course, with final examination
Students are required to attend the OFA according to the calendar indicated in the Freshman Kit of the Faculty of Banking, Finance and Insurance Sciences of Milan
Students who have participated in at least 70% of the scheduled hours are admitted to the final examination of the OFA course and in the event of failure to pass the final examination are not required to re-attend the OFA course.
Passing the final exam entails the fulfilment of the OFA and the possibility of continuing the university course without further Additional Training Obligations. During the first year, there will be at least 3 attempts to pass the final exam. The dates of the final test will be communicated on the Blackboard online platform.
In case of failure to pass the OFA final examination, the Group Tutor in charge will contact the student in order to support him/her in the process of accompanying him/her to the above assessment.
In the event of a negative result in all the final examinations scheduled for the academic year, the results of the Initial Preparation Assessment (VPI) and the final examinations will be assessed by a reference professor designated by the Faculty, and - taking into account any 1st year exams passed by the student - the OFA itself may be considered fulfilled.
Otherwise, the student is required to renew his/her enrolment in the first year of the programme as a repeating student.
"Reading comprehension" questions in Italian
Among the many aspects of our lives that technologies have revolutionized are investments. Until recently, those who wanted to make their wealth work interacted with financial advisors, specialists in the sector, who were able to propose the most suitable investments for each type of client. Now advisors have to contend with competition from robo-advisors. This term is used to define digital portfolio construction systems, capable of providing customers, through algorithms, with solutions to invest savings. In addition, there is the automation of all the phases that precede financial advice, from the acquisition of the customer to the definition of the model portfolios to be proposed to the customer according to his characteristics. It is a model that is becoming increasingly popular, especially in the Anglo-Saxon world and among less wealthy investors. According to the most recent statistics, clients who are halfway between the mass market (i.e. the segment that groups people with less than 100 thousand euros to invest) and the mass affluent (customers with assets of more than 1 million euros) turn to robo-advisors. These clients are for the most part not financial experts and would like to delegate the management of their portfolio, but keeping the management costs low. The services offered by robo-advisors are characterized precisely by their costs, which are much lower than those of portfolio management carried out by a financial advisor. The cost of managing assets of €100,000 is less than €20 per month. To capture clients, companies operating in this sector do not use the most popular arguments of traditional financial advisors, such as the ability to generate attractive returns or protect invested assets, but they hit the button of low costs. As the slogan of one of these companies clearly explains: "portfolio management carried out by experts, but at the price you would pay for DIY". The increasing popularity of robo-advisors is pushing traditional asset advisors to rethink their role and the cost of their services. The business of online consulting appeals to both large investment funds and banks. For many UK banks, which had stopped offering small wealth management services after stricter rules on the management of clients' savings, which made it uneconomical to provide these services for the management of small amounts, the launch of robo-advisors could mean a return to the advisory market.
A. What aspect of the financial sector does the text cover?
- The birth of new banks
- The globalisation of investment
- The poor financial education of savers
- The use of new technologies to guide investors
"Logic" questions in Italian
B. "Greece is poorer than Germany; France is richer than Greece; Germany is the richest of the three." Based on these statements, which of the following conclusions is necessarily true?
- France is the least wealthy of the three
- France is less wealthy than Germany
- Greece is richer than Germany
- France is less wealthy than Greece
C. In a class of 11 boys and 9 girls, each student had to choose only one extracurricular activity, basketball or volleyball. Knowing that basketball was chosen by 6 students in all and that 5 of them are boys, how many girls chose volleyball?
- 6
- 5
- 8
- 4
"Mathematics" questions in Italian
D. The inequality (2x − 9)/(3 – x)2 ≤ 0 is verified
- x< 3V 3<x ≤ 9/2
- x ≤ 9/2
- x < 3 V x ≥ 9/2
- 3 ≤ x ≤ 9/2
E. (a – 2b + 3)(a+2b+3) is equal to
- (a – 2b)2 – 9
- A2 – 4B2 +9
- A2 – 4B2 + 2Ab + 9
- (a + 3)2 – 4b2
ANSWERS
A - The use of new technologies to guide investors
B - France is less rich than Germany
C - 8
D - x< 3 v 3<x ≤ 9/2
E - (a + 3)2 – 4b2