1. This take-home portion of the Final Exam is AN INDIVIVUAL WORK.

Name- Last: First: .

INSTRUCTIONS- READ VERY CAREFULLY OR YOU MAY END UP WITH NO GRADE AT ALL!

1. This take-home portion of the Final Exam is AN INDIVIVUAL WORK. It means only you are expected to work on it- alone- and then submit as instructed in below. Your answers, ALL PLACED IN NO MORE THAN TWO (2) FILES, ONE WORD FILE AND ONE EXCEL FILE, must be submitted by 11:00 PM on Tuesday, May 14. No other document format beside Word and Excel will be accepted (This means PDF files WILL earn zero too!); and no follow-up submissions of any kind by any medium will be accepted either. To be fully safe, do NOT submit during the very last hour, or worst the last few minutes, of the stated submission deadline.

1. In your Word and Excel files, enter all your responses in the same order as the questions or sub-questions. This means you MUST first answer the first question, then the second question, then the third question, etc.

1. The way you SUBMIT is by uploading your response file via the same exam link given to you under the Assignments folder on Bb. In other words, you go back to this Final Exam file under the Assignment folder, click on it, and you see the upload features that appear. Make sure to click on the Submit button at the end of the page. No emailed response will be accepted or graded under any circumstance- unless you have a verifiable trouble uploading as instructed in above. No excuses of any kind will be accepted!

1. Do NOT remove the headers that contain space for your Last and First names; just fill in your name right now in the spaces provided, save, and once finished, submit with your name on every single page of the exam. ALSO, make sure to write your full name on top of the first page/sheet of your Excel file. Do this RIGHT NOW so you won’t lose points.

1. Warnings: Submit ALL your exam responses/files (a maximum of two files, one Word and one Excel file) at the same time. Once two files are attached and you can see them, do NOT forget to click Submit at the end. So be careful.

1. For ALL quantitative questions and detailed calculations you must use Excel.

1. Follow the maximum page limits given for all qualitative questions. All pages are expected to be double-spaced, font size 12. Otherwise, I will ignore any and all pages written beyond the stated page limits for each question. There are no limits for the quantitative works in your Excel file.

1. As questions regarding the exam bring up even more questions, and this may confuse some students, I have decided to give this test to you “as is”. This means you need to trust the questions and the info; and answer the exam questions accordingly. If there are any general typos, mistakes, etc, I can always check for them later on, and if valid, give due credit to all accordingly. With those in mind, I wish you the very best in answering the following questions. Maximum points for each question are given in parentheses at the end of each question. Maximum score for this comprehensive exam is 100 points or 10% of your class grade.

Do NOT forget to first enter your full name in the header and spaces provided as indicated; and ALSO on your Excel file. Do both right NOW and save for submission when completed the exam.

Exam continued on next page

The Exam Questions- All Related to the “BJ’s Wholesale Club Holdings, Inc.”) IPO Case (for short BJ Case or BJ IPO). The accompanying/attached documents should be more than enough to help you answer ALL the questions in this Exam. You do NOT need to do any extra research; unless you feel otherwise. The Exam:

After carefully reading the content of the data file called “Basic Info Sheet for BJ’s Wholesale Club Holdings, Inc” as attached – along with any other attached document, especially the “Prospectus for BJ’s Wholesale Club Holdings, which also contains the “Risk Factors”, starting on page 18 and the “Index to Consolidated Financial Statements” on page F-1 – answer the following questions to the best of your knowledge. (Important NOTE ON Prospectus : For any info in the Prospectus, see the Table of Content in the PDF file or the offered URL. As you see the Prospectus is a rather long document but you just need to read a very few pages like Risk Factors starting on page 18 as mentioned.)

QUESTION ONE. Was the BJ IPO which was priced at $17.00 per share a Reasonable Price for the Investors? In other words, was the IPO price a realistic price for Investors (the buyers of the IPO price)? Explain in needed details along with any needed computations. Use either the Free Cash Flow method or the Fundamental Method; whichever method you like for valuation purposes. Additionally, use the “Comparable Method” (P/E Ratio method) too in answering this question. EXCEL must be used for ALL the quantitative questions AND WORD file must be used for all conceptual/descriptive questions.

Be clear and organized in your response to this and any other question. Being organized means You categorize the key elements of your response so that the reader, in this case I, can better follow your chain of thoughts and writing.) ; Maximum pages allowed: A maximum of two (2) pages, double-spaced, size 12, for the Word file and No maximum on Excel file. Total Points given to this question: 60.

In answering this question, for any needed valuation data, including any Cash Flow statements, start with using the data/financial statements that you can find under the “Index to Consolidated Financial Statements” as mentioned in above.

QUESTION TWO. Take a very careful look at the portion of the Prospectus called “Risk Factors”, again as mentioned in above, and answer the following question:

Based on all the info you found under the “Risk Factors” portion of the prospectus as mentioned in above, and referring to your prior learnings about RISK IN THIS CLASS, what more did you just learn about Risk and Risk Taking? In other words , in addition to what you had already learned about Risk in THIS class, what new concepts and thoughts did you learn from the content of “Risk Factors” listed and explained in the Prospectus? Explain in needed depth and details.

Be clear and organized in your response to this and any other question. Being organized means You categorize the key elements of your response so that the reader, in this case I, can better follow your chain of thoughts and writing.). Maximum pages allowed: 2-3, double-spaced, size 12.

Total Points given to this question: 40.

End of Exam and REMIDERS:

1. Do NOT forget entering you Name in the Header of your Word file so each page has your full name; (I need to see your full name on each page of the exam book for grading purposes)

2. Do NOT forget entering you Name on the first page of your Excel file.

3. BEFORE YOU SUBMIT make sure you have followed ALL the submission instructions, including type and number of files that are stated on the first page of this exam. DO THIS RIGHT NOW!