How Are the Iais Principles Met with in the Mauritian Legislation on Insuranc

UNIVERSITY OF MAURITIUS FACULTY OF LAW AND MANAGEMENT SECOND SEMESTER EXAMINATIONS MAY 2009 PROGRAMME BSc (Hons) Accounting with Finance – Level 3, 4 BSc (Hons) Finance – Level 3 BSc (Hons) Finance with Law – Level 3 MODULE NAME DATE International Finance Wednesday MODULE CODE DFA3006Y(5) 6 May 2009 TIME 9. 30-12. 30 Hours NO. OF QUESTIONS SET 6 DURATION NO. OF QUESTIONS TO BE ATTEMPTED 3 Hours 4 INSTRUCTIONS TO CANDIDATES This paper consists of SIX Questions and you are required to answer ANY FOUR (4) Questions International Finance – DFA3006Y Question 1 a) (i) Explain the term â€Å" foreign exchange exposure† in relation to the operations of a multinational enterprise. [5 marks] ( ii ) How are such exposures usually handled by management? [9 marks] (b) Seattle Inc is a medical device manufacturer. The company’s annual sales of $ 40m have been growing rapidly, and working capital financing is a common source of concern. The Chief Finance Of ficer, Martin Bell has recently been approached by one of the company’s major Japanese customers, Yosaka, with a new payment proposal. Yosaka typically orders ? 12. million in product every other month and pays in Japanese yen. The current payment terms extended by Seattle Inc are 30 days, with no discounts given for early or cash payment. Yosaka has suggested that it would be willing to pay in cash (in Japanese yen) if it were given a 3. 0 % discount on the purchase price. On the basis of the information below: Spot rate 30-day forward rate 90-day forward rate 180-day forward rate ? 96. 60/$ Yosaka’s Weighted average cost of capital ? 99. 08/$ Seattle Inc Weighted average cost of capital ?100. 42/$ ?103. 56/$ 9. 00% 11. 95%Advise Martin Bell on Yosaka’s proposition, assuming that Seattle Inc hedges all its foreign currency transactions. (c ) [8 marks] Calculate the rate of forward premium of the US $ on the 180-day forward rate. [3 marks] [Total marks : 25] Pag e 1 of 3 International Finance – DFA3006Y Question 2 â€Å"When the financial systems fail, everyone suffers† – Edward Carr, The Economist. (a) Explain the importance of regulations in a financial system. [15 marks] (b) In the wake of the financial crisis that has shaken America and Europe, do you think regulators have failed in their role? 10 marks] [Total marks : 25 ] Question 3 (a) Briefly outline the disadvantages of a fixed exchange rate regime? [6 marks] (b) Explain the following terms: (i) Special Drawing Right ( SDR ) ( ii ) Currency board arrangement ( iii ) Euro currency ( iv ) Dollarisation [12 marks] (c) The Thai baht was devalued by the Thai government from Bt 25/$ to Bt 29/$ in July 1997. Calculate the devaluation of the baht against the US dollar [3 marks] (d) Explain the difference between devaluation and depreciation of a currency. [4 marks] [Total marks : 25] Page 2 of 3International Finance – DFA3006Y Question 4 (a) Do you think free in ternational capital mobility is desirable for emerging economies? [15 marks] (b) Explain how an active secondary market for securities can be beneficial to: ( i ) lenders ( ii ) borrowers [10 marks] [Total marks : 25 ] Question 5 (a) Outline the main summary statements of the balance of payments accounts and explain briefly their economic significance. [10 marks] (b) How can flows of ‘laundered’ money from drug trade or international terrorist activities find their way into the Balance of Payments? [5 marks] (c)How can such illegal flows be avoided if a country wants to be perceived as a â€Å"clean† financial centre? [10 marks] [Total marks: 25] Question 6 (a) As a firm evolves, domestic operations are no longer adequate to sustain further development, and the firm seeks other avenues of growth. Outline the considerations that need to be taken if the firm is contemplating a strategic alliance with a foreign partner. [15 marks] (b) Explain the difference between â€Å"internal† financing and â€Å"external† financing† for a foreign subsidiary and give two examples of internal financing. [10 marks] [Total marks : 25] -END OF QUESTION PAPER- Page 3 of 3

How Does Your Current School Meet the Holistic Needs of a Child?

Critically evaluate how the principles and approaches of your school meet the holistic needs of every child This assignment will look to critically evaluate how a school in which I am currently on placement meets the holistic needs of the children in their care. In order to protect the schools identity they will be known as School A. I will look to evaluate how the schools ethos is put into practice in everyday teaching and learning, and how this benefits/disadvantages the pupils.Due to the limited allotted word count for this assignment I am unable to describe in depth how the school meets the holistic needs of every child in attendance, therefore I will look at one group of children in particular who will be known as Group X. I am also unable to look in depth at all of the holistic needs and instead will focus on the intellectual and social needs.I will analyse the practice of Every Child Matters (2002)-(ECM)- this government initiative for England and Wales looked to help schools to meet what the government believed to be the basic needs of every child, these being: – Be healthy, stay safe, enjoy and achieve, make a positive contribution and achieve economic well-being. Even though ECM is not current legislation, its themes still underpin the ethos of the majority of schools in England and Wales.I shall also look at current legislation and recent reports regarding education including: The Cambridge Primary Review (2009) and The Rose Review (2009) to examine how the government look to support and develop learning. I will look to debate the ideas of three major theorists – Jean Piaget (1932), Lev Vygotsky (1978) and Abraham Maslow (1943), to describe the practice that I have observed in School A. When looking at the holistic needs of a child we are really looking at the whole child, what they need in order to develop to their full potential. Feature Article  Country School  Allen CurnowThese needs are defined as the need for physical, emotional, intellectual, social and creative fulfilment. In order to meet the physical needs of a child we must endeavour to provide them with the basic provisions of air, food, water, sleep and exercise. Emotionally children need praise, love, trust, security, and a feeling of self-fulfilment. As teachers, it was often perceived in the past by people outside of the profession that we are solely responsible for the intellectual needs of a child, these being the need for challenging thoughts, reading, learning something new, and mind stimulation.In order to develop fully children need social interaction through companionship and friendship. Creativity is the need to express ones self in an imaginative way. This can include the arts, dancing, acting, and writing. Holistic education is the idea that every child finds identity, meaning, and purpose in life through connections to the communi ty, to the natural world, and to spiritual values such as compassion and peace. This can be achieved, not through an academic â€Å"curriculum†, but through contact with the outside environment.Montessori, for example, spoke of â€Å"cosmic† education: â€Å"Help the person feel part of the wholeness of the universe, and learning will naturally be enchanted and inviting. † Montessori (1912) It can be said that there is not one effective way to accomplish this goal, as there are many ways of learning and many types of learner and the holistic educator values them all; what is appropriate for some children, in some situations, may not be best for others. School A has been judged to be outstanding in two consecutive Ofsted reports.Behaviour is exemplary and pupils feel safe, confident and capable of, as they put it, ‘reaching our potential'. Ofsted, (2004) This is an example of many praising quotes from the schools 2008 Ofsted report. From this report it can be seen that Ofsted viewed the school to be meeting the holistic needs of the children. It is without question that the school provides excellent provisions to meet the children’s physical needs. There is a breakfast club, where children can have a healthy breakfast giving them a good start to the day.Hot meals are provided at lunchtimes for those who do not wish to bring packed lunches from home, and fresh fruit is provided free of charge at both morning and afternoon playtimes. The school are clearly still working under the guise of ECM- Be Healthy, hence why these provisions are in place. Socially, children are encouraged to form strong friendships and there is certainly a â€Å"family† spirit around the school. Parents are encouraged to take part in and support their child’s learning experience both in and out of school.Rewards assemblies are held every Friday morning, in which children from each class are reward for both their academic (writer & mathematici an of the week) and their social achievements (helpful & well mannered and effort stars of the week). Parents are invited to attend these assemblies to share in the celebration of their child’s achievement. There are an abundance of opportunities for the children to engage in creative activities, there are extra curricular clubs run almost every day after school including Yoga, Dance, Zumba and Art clubs.Creativity is also included within the classroom, most activities are concluded with an element of art or design to make the children’s work appear more attractive, which seems to help certain children (especially those who are visual learners) to embed their learning. Group X is small group of six children with some behavioural issues and some delayed intellectual development, they try hard but often become frustrated that they are unable to accomplish certain tasks, which then causes them to misbehave.These children are often sent to work with a Higher Level Teaching Assistant- (HLTA) who helps them to work at a slower pace in order for them to not feel inadequate in a whole class setting. In mathematics, for example, the HLTA will work with the children using a variety of apparatus such as cubes, coins and counters, to help them to use a tangible object in order to provide them with a context for their learning. She poses open ended questions in order for the children to show their method and understanding of the information.This is a clear example of Piaget’s theory being put into practice. The teaching is being matched to the needs of the individual and this kind of teaching is helping to trigger assimilation and accommodation for the child (Pound 2005, pg. 38). This theory is supported by a number of theorists, in particular Margaret Donaldson who believes that children’s errors or misunderstanding occurred as they are not responding to what was asked of them but were also seeking to understand the meaning of the task or reque st (Pound, 2005 pg. 0), hence by the HLTA using money to aid with the learning of mathematics she was demonstrating to the children why they needed to know this information. Theorist and writers, who believe in inclusion, would however argue that by separating these children from their peer group the school are not demonstrating inclusive practice. Len Barton for example argued that: Inclusive education is about the participation of all children and young people and the removal of all forms of exclusionary practice Barton (1998 cited in Clough and Corbett, 2000,pg. 85).By accepting both arguments benefits and disadvantages of this type of practice can easily be seen. The children are obtaining the knowledge and understanding they require at their own level and speed, however they are being removed from their peer group which may cause discomfort and embarrassment as it could be viewed that they are being highlighted as the individuals with special needs. It can also be argued that t hey are not being given the same opportunities as other children within the class as although the work has been planned by the class teacher the majority of their teaching is being conducted by a HLTA not a qualified teacher.However, by working in a small group and not being completely isolated or immersed in a whole class setting, the children have more opportunity to speak, listen and question what they are being taught. Vygotsky’s theory would be in support of this as he believed that language played a significant role in abstract thought and helped a child develop awareness for a particular way of thinking and interpreting their own ideas. This is in contrast to Piaget’s view, who believed that the use of relevant language follows the development of a concept. Bee and Boyd, 2007) Sir Jim Rose is in agreement with Vygotsky and outlined his findings in his final report. Good primary teaching involves far more than waiting for children to develop by following their ev ery whim. It deliberately deepens and widens children’s understanding by firing their imagination and interest and paving the way to higher achievement through ‘scaffolding’ learning in a community of learners. (Rose Review, 2009 pg. 56) School A are clearly meeting the expectations of the current government by helping children of all abilities to develop their language skills in a variety of ways in order to progress their learning.The children in Group X seem to be very sociable. Having observed them in the playground I have found that they interact well with each other; however tend to distance themselves from other children in their peer group. This could be due to the limited amount of time they spend in the classroom and therefore the stronger bonds they have forged with each other. Due to some of the behavioural problems these children possess, conflict with other children can sometimes lead to violence. The school manage these problems well and ensure tha t parents and the schools behaviour support worker are involved in resolving these issues.School A are clearly trying to help their pupils to â€Å"Make a Positive Contribution† (ECM, 2002) by encouraging them to develop positive relationships and not discriminate or bully. Many Children in attendance at School A are from impoverished backgrounds, the number of children eligible for free school meals are above the national average. It is clear that the school are striving to make this a non-issue in terms of the children’s attainment; however it is widely acknowledged that children from poor backgrounds can be disadvantaged due to a lack of resources, space, overcrowding and poor diet (Curtis and O’Hagan 2003 pg. 7) Abraham Maslow spoke of deficiency needs, these being the need for esteem, friendship and love, security, and physical needs (Maslow, 1954). I have observed during my time spent in the school that it is clear that the children feel a sense of belongi ng and safety, have forged solid friendships and are physically well and able to learn, in short the school are meeting the core needs of its pupils, as outlined by Maslow. The Cambridge Review found that there is a â€Å"pervasive anxiety† about the pressure on pupils at school, and this concern often overshadow and conceal the fact that poverty is the single biggest threat to children's lives.In this same report it is discussed that children like those at School A lack the massively compensating advantages of financial wealth, emotional harmony and a home life which is linguistically, intellectually, culturally and spiritually rich (Curtis, 2009, p. 6) The school is located in an impoverished area and the school are doing all they can in order to provide their children with a stable environment, which they may not experience at home. School A’s philosophy on achievement, attainment and children’s well-being is outlined in its prospectus (See Appendix A) and is clearly implemented in the teaching and learning.They have a child centred curriculum, which is broad balanced and differentiated to meet the needs of all children including those with special educational needs. The children clearly progress throughout their time at School A with attainment targets regularly being met and exceeded. In short the school meet all of their own targets, whilst encompassing the key themes of ECM. I believe that the short time I have spent in School A, has already helped me to begin to forge my own teaching philosophy. The school has the best interest of all children at its core.Even though ECM is no longer current legislation its themes are still at the heart of what makes a good teacher and a good school and School A encompasses these whole heartedly. For my future professional development, I believe that I will endeavour to encompass all of the points raised by ECM as I believe these things are the key to becoming not just an adequate but an outstandin g teacher. Vygotsky and Piaget both present theories which are not just useful but essential for the modern education professional to be everything they need to be. In conclusion, School A is an outstanding school.They are practicing the key points raised in recent legislation and reports and are demonstrating the theories of Vygotsky, Piaget and a variety of other theorists. The children’s intellectual and emotional well being is at the heart of its ethos and this is reflected in the everyday teaching at the school. References Curtis, P. (2009) ‘The Cambridge primary review's key findings’, TheGuardian, 16 October, p. 6 Department for Education and Skills (2002) Every Child Matters: Presented to Parliament by the Chief Secretary to the Treasury byCommand of Her Majesty, September 2003, Cm 5860, London: Stationery Office. Alexander, R. (ed) (2010) Children, Their World, Their Education: Final Reportand Recommendations of the Cambridge Primary Review. London:Routl edge Rose, Sir J. (2006) Independent Review of the Teaching of Early Reading:final report. [Online] Nottingham, DfES Publications. Available from:http://www. education. gov. uk/publications/standard/publicationdetail/page1/DFES-0201-2006 [Accessed 7th October 2012]. Montessori, M. (1948) The Absorbant Mind. In: Chattin-McNichols, J. (ed. The Absorbant Mind. New York: Henry Holt and Company Pound, L. (2005) How Children Learn. London: Step Forward PublishingLimited Clough,P. and Corbett, J. (2000) Theories of Inclusive education: a Student Guide. London: Paul Chapman Publishing Boyd, D. and Bee, H. (2007) The Developing Child. 11th edition. Boston:Pearson Education, Inc Curtis, A. and O’Hagan, M. (2003) Care and Education in Early Childhood. London: RoutledgeFalmer Maslow, A. (1970) Motivation and Personality. 3rd edition. New York: Harper &Row Ofsted (2008) School A Appendix 1

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Corporate socail responsiblity - Essay Example This paper will discuss the nature of capitalism, the nature of the corporation and the function of the CEO in order to determine if the compensation for the position is legitimate. Within the capitalist framework, individuals are compensated proportionally to their contribution to society at large. This means that the level at which individuals are able to contribute to the expansion of the GDP for the nation at large determines how much they will be compensated (Feltus, 2009). This is empirically proven true through the fact that business owners, inventors, and shareholders typically make the most amount of money within the economy. This is because their service expands the total amount of currency that is exchanged within the boarders. The relation that this has to CEO compensation is the type of work that individuals complete. Employers are typically part of a machine that produces and/or disseminates products and services, while individuals who are a part of upper management typ ically perform task that involve the structuring of the organization (Feltus, 2009). Capitalism forces individuals to become either suppliers or consumers. This is evident within the theory that drives the economy; the law of supply and demand. This laws makes is abundantly clear that individuals will not be able to break away from the cycle of consumerism and supply. This same law can be applied to the position of the CEO. There is an extremely short supply of individuals who are capable of performing the task that are delegated to the CEO because of the massive knowledge requirements and experience needed for it to function (Shleifer, 1997). Therefore when the supply his low, individuals who take those positions are able to demand more pay and salary. In terms of the employee, there is a much larger supply of individuals who are capable of completing entry and middle level task (Shleifer, 1997). Therefore they are less capable of demanding as much for their work. In terms of the c orporate structure itself, publicly traded companies have a disconnect between the owners and the operatives. Shareholders specifically vote on the board of directors who are responsible for determining who will be CEO. The corporate structure then plays a role in why the CEO is gets such a large salary, because he is the chief officer who reports directly to the shareholders. Since shareholders attempt to maximize profit at all cost, the reason why they are willing to pay the CEO so much is because they want to create incentives for loyalty and responsibility (Clarke, 2004). CEOs exist to help maximize profit for the shareholders and determine what strategies are most and least effective in terms of the companies operations. While large compensation for the CEO is one means of achieving such ends, John Mackie claims that â€Å"Whole Foods has not lost employees it wanted to keep because of higher salaries elsewhere. He believes that once basic financial needs are met, ‘deepe r purpose, personal growth, self-actualization, and caring relationships provide very powerful motivations and are more important than financial compensation for creating both loyalty and a high performing organization (O’Brien, 2010).’† This means that the company can also benefit from paying employees even more which increases the return on investment for human capital. The function of the CEO is another overly important reason for the increased compensation that must be

Disrupting Terror Group Finances to Exploit Weaknesses in Terrorist Research Paper

Disrupting Terror Group Finances to Exploit Weaknesses in Terrorist Organizations - Research Paper Example In most activities, finances or money are often needed. This is not an exception for terrorist organizations that need the financial support of supporters in order to carry out their goals. Based on known accounts, most of their finances come from donations from sympathizers and from their numerous economic enterprises. Since their members, including their donors, are mostly located in different parts of the world, their funds also have to be moved and have to change hands. Where interruptions to the smooth flow of these finances would be interrupted, the terrorist activities would also likely be interrupted. This is the basis of this discussion. It shall discuss the general flow of finances for terrorist organizations, and how disruptions in these finances would impact on the organization itself. It will also discuss whether or not such disruptions would be sufficient in exploiting the weaknesses of terrorist organizations. This paper is being carried out in order to provide readers more specific scenarios on how disruptions on finances impact on terrorist organizations. Terrorists, as in most businesses or other undertakings require funds to operate. These funds are usually allocated to finance payments for operatives, travel expenses, training, forging of documents, bribes, weapons, and suicide attacks (Financial Action Task Force, 2008). Funding for these activities may primarily be allocated for direct operational support and secondly for broader operational activities (FATF, 2008). Direct operational funding usually includes: direct costs of attacks, like bombs, vehicles, maps, and the like; salaries, communications; food and subsistence; training and travel; and logistics or communication (FATF, 2008). The broader allocations include funds allocated for the support of the organization. This may include the recruitment of members, support of complicit charitable organizations and other businesses, including mass media

Does music work on the mind or the body Essay Example | Topics and Well Written Essays - 2500 words

Does music work on the mind or the body - Essay Example The most obvious property of music is its sound and this, in turn, is caused by actual occurrences in the physical world. Rodeway sums it up neatly when he writes: â€Å"The auditory sense is primarily physical rather than chemical. The sound is concerned with motion or activity, that is with vibration and resonance of substances (air, water, solids). (Rodoway: 1994, p. 90) The human ear is the main receiver of sound and is able to detect the movement of air and distinguish variations in the sounds that are produced. There are, however, other parts of the body that are involved in listening to music, because the ear is part of a perceptual system, involving the whole human organism and elements of the environment which the listener and the music share. Anyone who has attended a rock concert is very aware of the physical sensation of vibration which occurs when base sounds are emitted from huge speakers with great intensity: the whole upper body feels the vibrations. Some high pitche d sounds are painful, causing the eyes to tighten up and the body to cringe. Observation of humans and animals as they react to music and other sounds reveals that movement of the head and shoulders towards the source of a sound often occurs so that both ears can be used to help locate the distance and direction accurately. Some animals like foxes and dogs have ears that face forward and can be swiveled left and right to focus more closely. The physical properties of the space in which music occurs are also important in determining how sound is received.

Human Resource Management Essay Example | Topics and Well Written Essays - 1500 words - 18

Human Resource Management - Essay Example When contemplating a relocation program such as the current case with JCC, the management needs to ascertain and prioritize the over-arching reasons, as well as likely benefits of moving the targeted business units. It is noteworthy that the planned relocation, though not a financial slam-dunk, is not deleterious when viewed from an economic standpoint (Collie, 1998). In this regard, the projected attrition lies within acceptable bounds and would, therefore, allow for a substantial infusion of fresh talent. Furthermore, the relocation will satisfy the two other major objectives; greater intellectual capital risk minimization and enhanced growth flexibility. Some of the major challenges that the human resource management needs to include the fact that the replacement of old habits at the former headquarters is usually an uncomfortable process. Additionally, it is inextricably connected to the challenges of the new physical setting. Thus, it is paramount to note that the day-to-day moments and actions tend to move into the foreground of the employee’s attention, and this prompts individuals to act on these moments with a conclusive process of resolution (Collie, 1998). This means that the employees must be made aware of the core reasons necessitating the relocation, and the new expectations placed upon them when it comes to the realization of the relocation objectives. By making the employees aware of the relocation process, they can view the relocation as another organizational change aimed at diversifying the organization’s resources with an aim of maximizing the profits. It is only through such a model that the managemen t can ensure that the relocation process does not result in negative repercussions on the employees’ output and productivity ion the new environment. In this regard, the best approach for aligning the

Language Games Essay Example | Topics and Well Written Essays - 250 words

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