IF the class is quite quant, I suggest you poAt past exams as study guides. Easy to change actual numbers and then you can ask people who complain whether they did past exams to practice. Also, given that we usually get notes in real life, you could allow 1 pg notes, which is also a covert way to force people to study.
MBA douchiness

guys, this was my attempt at trolling I assure you "elite" MBAs have never heard of EJMR
I make it rain at the club by dressing nice and picking up the tab (single hot girls only).
Snoop Dogg is a top5 MBA?
Whether or not a lot of top MBAs have Goldman dreams and end up middle management at Johnson & Johnson (with a lot of debt) is besides the point. The student in the OP can't pass an an MBA options exam or accept his or her own failure to prepare. He or she is unlikely to make it rain anywhere. 
How can you nogood this superb troll post?
Hey I'm an elite MBA student. You are the losers here, don't forget that.
You and your friends will be working for somebody like me when your academic dreams wash out. 10 hours a week 9 months a year sounds really tough and summers off wait til you get to the real world.
I go to a top school and we have grade nondisclosure so no one has to do any work. This is a complete vacation for me. I have a top internship lined up and I'm getting drunk every day of the week. I tell random girls I'm in grad school so everyone knows I'm smart. No need to study because you can't learn business from a book anyway. I make it rain at the club by dressing nice and picking up the tab (single hot girls only).
Good luck losers with your 100K salaries writing papers no one reads. I'll be outearning you next year and making multiples by 5 years out.
top MBA student 
Let me share my experience with MBA students.
1. The ones with engineering backgrounds care way too much about how to make numbers add / subtract / multiply / divide and not think about the deeper issues of whether the models can be right or wrong. To a certain extent, the engineering students do really well in exams (who can't  these are MBA questions, plug and chug) but they have no sense of the main issues. They literally think the ONLY way to value anything is with some combination of DCF, WACC and CAPM.
2. The ones with liberal arts degree are hopelessly stupid. Enough said.
3. MBAs like to "make up" their models and stories. For instance, I've heard MBA students argue with me on matters such as:
"The CAPM is a long horizon model and not a short horizon model."
"1 / 15 is not equal to 0.0667"
"I understand option theory" (this is out right laughable)
"Payoff and value mean the same thing" (I had to spend 20 minutes to convince him otherwise).
"(Using the BlackScholes model) The variance is 22 million. I can't find a number this big in the standard normal distribution tables to calculate my N(d_1). So I took the mean and divided by the variance. This is a good measure of risk to substitute for variance of the asset".The list really just goes on...

Let me share my experience with MBA students.
1. The ones with engineering backgrounds care way too much about how to make numbers add / subtract / multiply / divide and not think about the deeper issues of whether the models can be right or wrong. To a certain extent, the engineering students do really well in exams (who can't  these are MBA questions, plug and chug) but they have no sense of the main issues. They literally think the ONLY way to value anything is with some combination of DCF, WACC and CAPM.
2. The ones with liberal arts degree are hopelessly stupid. Enough said.
3. MBAs like to "make up" their models and stories. For instance, I've heard MBA students argue with me on matters such as:
"The CAPM is a long horizon model and not a short horizon model."
"1 / 15 is not equal to 0.0667"
"I understand option theory" (this is out right laughable)
"Payoff and value mean the same thing" (I had to spend 20 minutes to convince him otherwise).
"(Using the BlackScholes model) The variance is 22 million. I can't find a number this big in the standard normal distribution tables to calculate my N(d_1). So I took the mean and divided by the variance. This is a good measure of risk to substitute for variance of the asset".
The list really just goes on...Sounds like the average student at any school.

Look, I think most of you are missing the point. These guys pay 100k a year to take the same classes that business undergrads take. They're not the smartest kids in their cohort (if you're good, you don't need an MBA to get promoted). They pay our salaries, yet most of us do not respect them (I certainly don't). Yet they still apply. I wonder how long we can keep this up before the bubble bursts.

Hey I'm an elite MBA student. You are the losers here, don't forget that.
You and your friends will be working for somebody like me when your academic dreams wash out. 10 hours a week 9 months a year sounds really tough and summers off wait til you get to the real world.
I go to a top school and we have grade nondisclosure so no one has to do any work. This is a complete vacation for me. I have a top internship lined up and I'm getting drunk every day of the week. I tell random girls I'm in grad school so everyone knows I'm smart. No need to study because you can't learn business from a book anyway. I make it rain at the club by dressing nice and picking up the tab (single hot girls only).
Good luck losers with your 100K salaries writing papers no one reads. I'll be outearning you next year and making multiples by 5 years out.
top MBA studentgreat troll 8/10

Excellent troll 9.5/10
Hey I'm an elite MBA student. You are the losers here, don't forget that.
You and your friends will be working for somebody like me when your academic dreams wash out. 10 hours a week 9 months a year sounds really tough and summers off wait til you get to the real world.
I go to a top school and we have grade nondisclosure so no one has to do any work. This is a complete vacation for me. I have a top internship lined up and I'm getting drunk every day of the week. I tell random girls I'm in grad school so everyone knows I'm smart. No need to study because you can't learn business from a book anyway. I make it rain at the club by dressing nice and picking up the tab (single hot girls only).
Good luck losers with your 100K salaries writing papers no one reads. I'll be outearning you next year and making multiples by 5 years out.
top MBA student
great troll 8/10 
Look, I think most of you are missing the point. These guys pay 100k a year to take the same classes that business undergrads take. They're not the smartest kids in their cohort (if you're good, you don't need an MBA to get promoted). They pay our salaries, yet most of us do not respect them (I certainly don't). Yet they still apply. I wonder how long we can keep this up before the bubble bursts.
You think the MBAs respect the professors? "Those who cannot do, teach"  that's how MBAs view academics; that is professor = teacher, and they have no clue what research even means.

Monkeys do not respect us either, what's your point?
Look, I think most of you are missing the point. These guys pay 100k a year to take the same classes that business undergrads take. They're not the smartest kids in their cohort (if you're good, you don't need an MBA to get promoted). They pay our salaries, yet most of us do not respect them (I certainly don't). Yet they still apply. I wonder how long we can keep this up before the bubble bursts.
You think the MBAs respect the professors? "Those who cannot do, teach"  that's how MBAs view academics; that is professor = teacher, and they have no clue what research even means. 
Let me share my experience with MBA students.
1. The ones with engineering backgrounds care way too much about how to make numbers add / subtract / multiply / divide and not think about the deeper issues of whether the models can be right or wrong. To a certain extent, the engineering students do really well in exams (who can't  these are MBA questions, plug and chug) but they have no sense of the main issues. They literally think the ONLY way to value anything is with some combination of DCF, WACC and CAPM.
2. The ones with liberal arts degree are hopelessly stupid. Enough said.
3. MBAs like to "make up" their models and stories. For instance, I've heard MBA students argue with me on matters such as:
"The CAPM is a long horizon model and not a short horizon model."
"1 / 15 is not equal to 0.0667"
"I understand option theory" (this is out right laughable)
"Payoff and value mean the same thing" (I had to spend 20 minutes to convince him otherwise).
"(Using the BlackScholes model) The variance is 22 million. I can't find a number this big in the standard normal distribution tables to calculate my N(d_1). So I took the mean and divided by the variance. This is a good measure of risk to substitute for variance of the asset".
The list really just goes on...Wow, your students are actually smarter than those at my school! Impressive!
Seriously, the problem with MBA education is that it doesnt really teach you how formulas are derived so the student gets confused. I dont think they are as stupid as you make them out to be. It is just that they have no background and dont care about really understanding something. If they cared they would go for a PhD. That being said, I dont know who the f**k hires these uneducated fools.

MBA students pay the salaries and fellowships of PhD students and TA and RAs and Profs.
PhD students are parasites and synonymous to beggars. Most of these scumbags don't care being beggars because most of them come from third world countries and unknown undergrad colleges.

Let me share my experience with MBA students.
1. The ones with engineering backgrounds care way too much about how to make numbers add / subtract / multiply / divide and not think about the deeper issues of whether the models can be right or wrong. To a certain extent, the engineering students do really well in exams (who can't  these are MBA questions, plug and chug) but they have no sense of the main issues. They literally think the ONLY way to value anything is with some combination of DCF, WACC and CAPM.
2. The ones with liberal arts degree are hopelessly stupid. Enough said.
3. MBAs like to "make up" their models and stories. For instance, I've heard MBA students argue with me on matters such as:
"The CAPM is a long horizon model and not a short horizon model."
"1 / 15 is not equal to 0.0667"
"I understand option theory" (this is out right laughable)
"Payoff and value mean the same thing" (I had to spend 20 minutes to convince him otherwise).
"(Using the BlackScholes model) The variance is 22 million. I can't find a number this big in the standard normal distribution tables to calculate my N(d_1). So I took the mean and divided by the variance. This is a good measure of risk to substitute for variance of the asset".
The list really just goes on...
Wow, your students are actually smarter than those at my school! Impressive!
Seriously, the problem with MBA education is that it doesnt really teach you how formulas are derived so the student gets confused. I dont think they are as stupid as you make them out to be. It is just that they have no background and dont care about really understanding something. If they cared they would go for a PhD. That being said, I dont know who the f**k hires these uneducated fools.It's just a badNash equilibrium. The majority of corporate America (i.e. read consultancies and ibanks) are filled with dumbf**k MBAs  they just bullshit each other with their superior quant skills learned from an MBA program and the world goes around. Two wrongs make a right, so to speak.