Frequently Asked Questions (FAQs)
General Information
- Why did we create simCEO?
- How much does the simulation cost?
- Is there a different pricing plan for schools and/or large numbers of participants?
- How many students can participate in one simulation?
- Do I need to pay for students who will "only trade"?
- Can I create a simulation with groups of students from different sections/periods/schools?
- What types of cross-curricular connections are possible outside of economics/social studies?
- I am an instructor who does not understand much about investing. Can I really do this?
- How can I contact simCEO?
- What if I lose my password or username?
- What are the system requirements to participate in a simCEO simulation?
Setting Up simCEO
- How long does the simulation last?
- Once I register, when do I have to start the game?
- Once I enter a Start Trading and End Trading date, can I change it?
- Do all the students have to create their own business?
- Can students work in groups?
- Can the instructor make customized assignments for participants to answer in addition the pre-set assignments that are available?
- What if I have a customized assignment that cannot be displayed in the format of this simulation?
- Can I add students during the simulation?
- The fictional timeframe is 10 years. Why? Can I change this?
- How is the duration of a year determined?
Playing simCEO
- How do the prices change?
- Do the price changes due to trading happen immediately?
- Can a student change the answers to his/her business description during the simulation?
- Can a student create a whole new business during the simulation?
- Why can't students buy/sell the same company for one day after they first buy/sell it?
- What happens if a share price goes to zero?
- What if a portfolio goes to zero?
- Can students make "limit" orders of shares?
- Can students invest their money in methods other than the stock market?
- What are the interest rates and length of maturity for loans and deposits?
- What is the maximum amount for a loan that can be taken out ?
- What if a participant does not have enough money in the Current Assets account to repay a loan on the due date?
- How many loans and deposits can a participant have at one time?
- Can a student repay a loan early?
General Information
Why did we create simCEO?Return to questionsWe wanted to teach investing and business skills in a fun and creative way that allowed students to take learning as far as they could. Our desire to create this simulation actually started after we realized several shortcomings in existing stock market simulations in which students research and buy imaginary shares of actual companies. Specifically, these limitations are:
- Do students really understand the companies in which they are investing? Or, are they simply investing in popular companies?
- If the market determines a “correct price” for each company, then traditional simulations are actually asking students to not only evaluate companies, but evaluate them versus the public’s perception (current share price) of this company. Is this a fair expectation of what we expect students to be able to do?
- Everyone has a difficult time determining stock selection (including professional analysts!). To be successful requires a significant amount of time analyzing what can be an almost endless stream of data. How much time should we ask students to devote to learning about the basics of investing?
- Simulations with fictional shares encourage high risk transactions (in order to win) due to the short timeframe of the simulaiton. In simCEO, the suggested timeframe is ten (10) years of fictional time allowing students to focus their energies on finding successful companies instead of quick trading.
How much does the simulation cost? Return to questionsThe cost is $10.00 per participant.
Is there a different pricing plan for schools and/or large numbers of participants?Return to questions Yes. 100 students can be registered for $600.00. These 100 students do not have to play the same simulation. The simulations can be taught by different instructors. Each additional student over 100 is charged $10.00. Special "school" and "district" rates are also available. Contact sales@simCEO.org for more information.
How many students can participate in one simulation? Return to questionsThere is no limit.
Do I need to pay for students who will "only trade"? Return to questionsYes, the simulation allows individual participants to either create a business and trade or to trade only. In either case, the cost is $10.00 per student.
Can I create a simulation with groups of students from different sections/periods/schools? Return to questionsYes, this is not a problem. However, keep in mind that the various instructors will need to work together/agree upon the environment, assignments, and share prices (or entrust one instructor to make these decisions).
What types of cross-curricular connections are possible outside of economics/social studies? Return to questionsThe possibilities are endless. Writing with a purpose offers a great opportunity for connections in English. Science, history, geography, and current events offer easy applications to the simulation's "current news" section for students to research further. Finally, production skills can be applied in disciplines such as technology and art as participants could be asked to create business cards, websites, magazine ads, and brochures.
I am an instructor who does not understand much about investing. Can I really do this? Return to questionsYes! At its most basic level, all you have to do is set up an environment (time/place) and choose which assignments you would like students to complete. Even the hardest part (which is optional) - setting price estimations for student companies - isn't all that different from the subjective grading that happens often in a school setting. (There are also tips and suggestions for instructors within the simulation for how to set prices fairly.)
How can I contact simCEO? Return to questionsTo learn more about simCEO email info@simCEO.org. To get help regarding a current simulation, instructors should fill out a support ticket at our SupportCenter or email support@simCEO.org.
What if I lose my password or username? Return to questionsBoth participants and teachers can fill out a Password Reminder form and an email will be sent to you with the requested information. Students without a username or unique email address should contact their instructor.
What are the system requirements to participate in a simCEO simulation?Return to questionsSimCEO is an online application that only requires an Internet browser that comes installed on nearly all computers. The site is optimized for viewing using Internet Explorer 6.0 or above and Firefox 2.0 or above. We strive to ensure maximum compatibility with the most popular browsers. If you experience difficulties in accessing or using any part of simCEO, please contact our SupportCenter.
Setting Up simCEO
How long does the simulation last? Return to questionsThe instructor will set the dates to "start trading" and "end trading". This can range from two days to one year.
Once I register, when do I have to start the game? Return to questionsWhen you register, you will receive an email known as the authorization email. You must set a Start Trading date within 12 months of this time; during this period, the participants are usually defining their business and researching each others' companies. The End Trading date must be within one year of the Start Trading date.
Once I enter a Start Trading and End Trading date, can I change it?Return to questions Yes and no. As you proceed through the Set Up process, you will be asked to select a date to start and end trading. Before the Start Trading date is reached, you can change both of these dates. After the Start Date is reached, these dates are finalized.
Do all the students have to create their own business? Return to questionsNo. Some students can simply be investors. They will have a portfolio page but not be listed on the ticker board. Alternatively, groups of students may also create one business but each student will be able to control their own portfolio. To do this, pay attention when you are instructed to add students and de-select the box marked "company owner".
Can students work in groups? Return to questionsYes. Groups of students may create one business but each student will be able to control their own portfolio. Alternatively, a group of students may be established to create one business and control one portfolio. To do this, pay attention when you are instructed to add students and de-select the box marked "company owner".
Can the instructor make customized assignments for participants to answer in addition the pre-set assignments that are available? Return to questionsYes. Click the "add one" button under the customized assignments section to open a template where you can type in the questions you want CEOs to answer. Create as many customized assignments as you wish.
What if I have a customized assignment that cannot be displayed in the format of this simulation? Return to questionsYou can add special assignments (such as the production of business cards or magazine advertisements) by sharing the assignment on the bulletin board and specifying where students should display them (either within a traditional classroom or on a separate server location). Students simply add this assignment to their research process even though it will not be displayed on the simCEO research board.
Can I add students during the simulation? Return to questionsYes. After you register, you will be able to add participants at any time. Each added participant will use one simCredit. Before the Start Trading Date, you may also change the names of students without being charged any simCredits. Any new student added after the Start Trading Date cannot be substituted for an existing student. Each added participant will use one simCredit.
The fictional time frame is 10 years. Why? Can I change this?Return to questionsThe 10 year time frame encourages a long-term approach to investing and entreprenurial strategies. As an instructor, you can announce and successfully play with a different time frame. However, know that the loans, deposits, and some of the pricing functions are all developed around a fictional 10 year time frame.
How is the duration of a year determined?Return to questionsThe simulation is active each calendar day, including weekends and holidays. Prices will change each day.
To determine a "year" in your fictional environment, calculate the total number of days from the Start Trading to the END TRADING date by the number of years you intend to use. Example: March 5 to March 25 divided by a 10 year timeframe: 2 days equals 1 year.
Playing simCEO
How do the prices change? Return to questionsPrices within this simulation change based on the supply and demand of the shares (as students buy and sell shares). This is no different than the real stock market. However, the students (investors) in this simulation represent the entire investing population, and this is certainly not the case in the real world. To make this situation more realistic, the instructor of the simulation will act as "the rest of the world's investors". Here is how it works:
- Students will buy and sell shares causing fluctuations to this estimated price. (Buying causes the price to rise; selling causes a drop in price.) This price fluctuation occurs in every simulation. Additionally,
- Instructors are given options during the Set Up process which can influence the price of companies. In this way, the instructor has the option to influence prices in the role of "the rest of the world's investors".
Do the price changes due to trading happen immediately? Return to questionsYes, you can see the change reflected by visiting the ticker board immediately after a trade.
Can a student change the answers to his/her business description during the simulation? Return to questionsYes, updates can be done at any time. It is recommended that the instructor be informed if there are updated answers so that a message can be posted on the bulletin board and the other investors will know about the updates.
Can a student create a whole new business during the simulation? Return to questionsYes, but it is not recommended! If a participant wishes to switch from an Internet provider to a basketball supplier, simply go into the assignments and change the answers. (Participants will not be able to change the business name or ticker symbol after the Start Trading date.) However, keep in mind that fellow investors know that this switch has taken effect and generally view this lack of stability cautiously.
Why can't students buy/sell the same company for one day after they first buy/sell it? Return to questionsThis is to prevent price manipulation.
What happens if a share price goes to zero? Return to questionsThe business is now bankrupt and out of the game. The shares are worth nothing. However, as an investor, participants are still managing their own portfolio and can continue to invest.
What if a portfolio goes to zero? Return to questionsFor the sake of the investing portion of the simulation, the participant is bankrupt. The participant may still operate a business but will not be able to trade.
Can students make "limit" orders of shares? Return to questionsNo.
Can students invest their money in methods other than the stock market? Return to questionsYes. Students can choose to invest in CD deposits that are held for specific time periods before maturing. Students can also take out a loan from the bank.
What are the interest rates and length of maturity for loans and deposits? Return to questions
Loans and deposits are available in 3-day and 6-day increments. However, a fictional "year" is used to determine the annual interest rates. The annual rates for each simulation will vary slightly, but approximate:
- 3-day deposit - 2% Annual Percentage Rate (APR)
- 6-day deposit - 4% APR
- 3-day loan - 4% APR
- 6-day loan - 7% APR
What is the maximum amount for a loan that can be taken out? Return to questionsParticipants cannot take a loan out that exceeds 50% of their Total Assets (on the day that the loan is initiated).
What if a participant does not have enough money in the Current Assets account to repay a loan on the due date? Return to questionsInitially, the Current Assets (cash) will be used. Secondly, random shares of stock will be sold until the participant is able to repay the balance and a penalty of $20 per company sold or 5% (which ever is greater). Lastly, any deposit (CD) that is held will be withdrawn (with a penalty of $100 or 5% (which ever is greater) and deposited in the Current Assets in order to repay the loan. If there are still not enough funds to repay the loan if all shares are sold and deposits withdrawn prematurely, then the participant will be bankrupt and unable to continue trading.
How many loans and deposits can a participant have at one time? Return to questionsParticipants can only have one deposit and one loan occurring simultaneously. However, there is no limit on the total number of loans / deposits that a participant can have during the course of the simulation.
Can a student repay a loan early? Return to questionsNo. Loans are taken out for specific periods of time and when they mature, the money is automatically deducted from the Current Assets (cash) account.