Policy update coming for 2019-2020 school year. In the meantime this 40% should be pretty easy to earn with consistent attendance, adequate ALEKS progression and completing classwork. Not a lot of assignments will be turned in. I put out answer keys each day and will teach students how to self grade. I would much rather students keep pages from their book to study from and to review.
This is by far where the majority of their class grade comes from. A chapter test is given at the end of each chapter which usually spans 2-3 weeks of class time. For some chapters (now called Topics), a quiz will be given midway through the chapter. You can read more about the test retake policy here.
My test grading policy is pretty strict but fair. A correct answer is correct even if no work is shown. My tests are also almost always 11 questions with 10% being assigned per question. This means that no mistakes is a 110%. Two mistakes would result in a 90% and so on. My reasoning with my shorter tests is that I am trying to eradicate rushing and to also urge students to do each problem multiple times. I believe mistakes are avoidable if you know the content.