Volunteer work

For example, many high school and college students in the United States often spend many hours as volunteers in hospitals, orphanages or homes for the aged. They read books to the people in these places. Sometimes the students Just visit them, play games with them or listen to their problems. Other young volunteers work in the homes of sick or old people. They clean up their houses, do their shopping or mow their lawns.For boys ho no longer have fathers, there Is a voluntary organization called Big Brothers. College students take these boys to baseball games and help them to get to know things that boys usually learn from their fathers. Some high school students take part In helping disadvantaged or handicapped children. They give care and comfort to them and help them to overcome their difficulties. Young college and university students participate In helping the people who have suffered badly In wars or natural disasters.During summer vacations, they volunteer to work In remote or mountainous areas to provide education for children. Each city has a number of clubs where boys and girls can go to play games. Some of these clubs organize short trips to the mountains, beaches or other places of interest. Most of these clubs use a lot of high school and college students as volunteers because they are young enough to understand the problems of younger boys and girls. Volunteers believe that some of the happiest people in the world are those who help to bring happiness to others.

National Junior Honor Society Essay

To be SCHA Queen would be a great accomplishment. I would be able to demonstrate my leadership skills and express my love for show and horses. As SCHA Queen, I would take great pride in being a spokesperson and representative for SCHA and be able to increase membership in SCHA. SCHA means a number of things to me. This was my first year, but I always looked forward to waking up and going out to ride. Another reason why SCHA means so much to me is it keeps me and my horse in shape for other things involving our riding career. Its always fun to see how much my horse changes and develops during the season, and even how I change throughout the season There’s no where to go but up, and that means improvement. SCHA has changed me by changing my attitude about competition. I’ve now learned that winning is not always everything. , it may sound cliche , but, everyone is a winner when you improve on anything. I also have become more confident horseman and I am able to push my hor se to do his best. I have only been riding for about 3 years and SCHA has truly brought out my inner horseman. Now that I am more confident in my riding skills I try to teach my horse new things as well as teach myself. In addition to new skills and confidence I also made new friends. I met new people and learned some facts about riding I hadn’t known before. In general I am very shy and usually keep to myself, but this season has really taught me how to come out of my shell and talk to everyone. I now know that I can talk to anyone in the club and they will be more than glad to help me with anything I may need. A key part of being Queen would be helping others in SCHA. This would include encouraging others during their events and being a good sportsman. I can also give positive feedback about what a person is doing while riding, to help them in a way that they can ride better and be a better sportsman. To help others in SCHA I can share the knowledge I have learned in SCHA and my experience with horses. Just as other people have shared their knowledge with me, I can do the same for other people so the horse community can grow. My friends are always curious about what I do with horses and what SCHA is. I’m lways more than happy to share that information with them in hopes that they will be bit by the horse bug too. Â  As SCHA quee n I will bring a good values, leadership skills and a positive attitude to SCHA. It would mean a great deal to me to be able to represent SCHA at this level level.

Analysis of Genotypic Distributions within Six Population Groups Using Assignment

Analysis of Genotypic Distributions within Six Population Groups Using Genepop Software - Assignment Example Which in essence, states that frequencies of alleles and genotypes remain constant in a population under ideal conditions. A balanced equilibrium should persist throughout the generations barring specific disruption. Disruptions in this equilibrium include non-random mating, selection, mutations, population-bottle-necks or other events that limit population size. The mating overlap between generations, meiotic drive, genetic drift or gene flow. As it is impossible to eliminate all of these conditions at some time from a population, Hardy-Weinberg equilibrium is impossible in nature. But this principle is a useful baseline against which to measure changes that do occur. Static frequencies of alleles throughout a population require a set of theoretical assumptions; deviations in which can give us information about which genes are changing in what way. These assumptions are : Violations of the Hardy–Weinberg assumptions trigger deviations from the expected status quo. The effect depends on which assumptions are broken. The character of these variations is thought to define the evolution of a species. When a population violates one of the assumptions listed below, the population may continue to exhibit Hardy–Weinberg proportions each generation, but the allele frequencies will be shaped by these deviations. Migration. The way in which two populations are genetically linked. Essentially, allele frequencies blend into homogeneity between the populations. Some models for migration must assume nonrandom mating. Without this randomness, the Hardy–Weinberg assumptions will not be valid. Random mating. The HWP states the population will exhibit a given genotypic frequency following a single generation of random mating within the population. When this assumption is broken, the population will not match Hardy–Weinberg proportions.  

Economic analysis of an commissioned paper Term

Economic analysis of an commissioned - Term Paper Example However, to overcome these economic challenges, the relevant authorities (including the private and public) should effectively address design, agency problem, and daunting information. Since these challenges have adverse effect on the economic growth and performance of Ontario and Canada, it is important that economic policies (fiscal and monetary) be adjusted to match the current industrial challenges. In particular, fiscal policies, which have a wide spread immediate impact on the economy, should be recommended. Fiscal policies which are effective in addressing market imperfection are government expenditure, sectoral tax provisions, and subsidies. The Ontario government proposed price ceiling and subsidies on specific goods and services, supporting venture capital investments and increased government expenditure as appropriate fiscal policies for addressing industrial market imperfections and challenges. Sustainable fiscal policies advanced by Ontario government through sectoral ne utrality and effective tax policy would be attractive to investors, thus more investments both in infrastructure and services. INTRODUCTION While analyzing effects of fiscal policies on the economic growth and development, it is important to consider both long-run and short-run implications of the proposed fiscal or monetary policy tools. Similarly, the policy maker should take into account the existing relationship between macro-economic variables and fiscal policy frameworks. In this aspect, policy makers should make a clear distinction between classical long-run and Keynesian short-run effects on the economic variable under investigation (Carl, 2008). In analyzing the effects of any fiscal policy on economic growth and development, all the potential simultaneous changes associated with such decision should be accounted for in the policy framework. As demonstrated by a number of researches, in the short-run, fiscal policies are not very effective in bringing significant changes on economic variables of growth and development, thus, Keynesian economic principles are ineffective in the short-run. However, in the long-run, generally, the economy will not benefit from expansionary fiscal policies. It is therefore essential for the government of Ontario to recognize that alterations in government expenditure without an equivalent revenue change will results into imbalanced budget, which will further impact on the economic growth indicators. Electoral process of any country is based on how effective the incoming government is going to deliver on their promises. Voters on the other hand, seek to elect leaders whose policies and manifestos have the potential of improving the living standards and reduce the cost of living to the citizens. Most governments rely on fiscal and monetary policies to deliver their promises to the voters (Walker, 2002). However, fiscal policies directly affect the voters and the economy as a whole. Through economic interventions such as spe cial tax measure and specific subsidies, the government often seeks to deliver on its goals and promises on better economic performance. Ontario is not an exception. The government of Ontario uses fiscal interventions as leading economic and growth policies. A better fiscal policy framework focuses on fostering economic development through work promotion, encouraging investments and savings, and promoting productivity through technological inventions and innovations both in the long-run and short-run. Besides,

Disability Law Essay Example | Topics and Well Written Essays - 3750 words

Disability Law - Essay Example Discrimination against these people is not justifiable since anybody is a potential candidate of this condition. The role that Equality Act 2010 has played cannot be underestimated. The equality Bill received royal assent in April 2010 and became an Act. It was a replacement of all the existing acts on discrimination. Actually it did consolidate all these legislations. Some of the acts that were consolidated to come up with the equality Act include Disability Discrimination Act 2005, The Race Relations (Amendment) Act 2000 and Equal Pay Act 19702. This act reforms, streamlines and harmonizes these previous legislations with the sole aim of achieving equality among people regardless of their physical or mental state. Thesis Statement The Equality Act 2010 has been very effective in eliminating disability discrimination in all walks of life starting from the physically to mentally disabled. Components of the Act The Equality Act 2010 covers up nine guarded features which make it a brea ch of law to discriminate any individual on the grounds of age, disability including those who have or previously have had a disability. It also makes it unlawful to discriminate against anybody on grounds of gender relocation, marriage and civil companionship, pregnancy and motherhood, race, religion or belief comprising lack of belief, gender and sexual orientation. The act covers fields such as those of employment, goods and services, facilities admissions and treatment of students. There are a number of significant changes in the Equality Act 2010 that have had a lot of positive impacts in the sector of education which is fundamental to the development of the country. The definition of direct discrimination has since changed to include the protection from discrimination based on both the perception and association for all the nine characteristics protected by the Act. Discrimination is no longer a direct and evident but sort of perceptual and associative. As such, the Act has be en very crucial in shaping the society by eliminating discrimination. The Act has also explicitly extended discrimination protection to disability. Again, this is with the view that those who are disabled either physically or mentally did not choose to be in the condition and, therefore, there is absolutely no reason to discriminate against them3. If anything, they are very important components that can steer the society forward if given the opportunity to do so and should, therefore, be made to feel equal to the rest of the society. The disability-related discrimination has also been replaced by a newer kind of discrimination: discrimination against disability. It is unlawful to discriminate anyone because of disability in any sector whether in education or in any other sector. The breastfeeding mothers can now be explicitly protected ensuring that a woman is neither looked down upon nor treated in a less favourable manner just because she is breastfeeding. With this in mind, a bre astfeeding mother feels free and as an important component of the society. She lives a stress free life since she is considered an equally important part of the society. The Act also protects pregnant students from discrimination. For a long time, students have been discriminated against on grounds of pregnancy. They are not treated fairly and equally giving rise to a sense of disorientation and isolation. This does not provide breathing space for academic excellence in schools. The Extent

Top 5 internet marketing strategies and how online businesses can use Research Paper

Top 5 internet marketing strategies and how online businesses can use them - Research Paper Example This research will begin with the statement that since the advent of internet and advancement in the way internet can be used, the number of internet users has been increasing day by day. According to World Fact Book, the total number of internet users as of 31st December, 2011 were 2,267,233,742. The stats even show that during the year 2000, the total number of internet users were only 360,985,492. This shows that the total number of users within a period of eleven years increased by 528.1%. According to Facebook statistics, the total number of Facebook users as of 31st March, 2012 were 835,525,280. These statistics show that internet is a place where businesses can get into contact with millions of users daily and internet itself can be used by businesses to grow larger than ever. When internet and online business was not in operations, businesses had a limited number of clients and their potential clients were mostly people living in their own locality. Even if businesses had to cross borders and gain more customers, they had experience heavy expenditure. This expenditure could only be conducted by very large businesses; today internet has even made small businesses able enough to tap a very huge market and to gain customers throughout the world. Several businesses that have a physical existence have even started spreading their business through internet sources, the art and science of conducting marketing activities through the use of internet is called e-commerce.

Programming with Alice Coursework Example | Topics and Well Written Essays - 1000 words

Programming with Alice - Coursework Example Anubis and Cleopatra marry and lead a happy life. In a way Ra’s prophecy also comes true as taken by death meant married to Lord of death. In this scene the news of Cleopatra’s kidnap by the mummy is received by the Pharaoh .Anubis also makes appearance in this scene .The Pharaoh agrees with Anubis’s deal of marrying to Cleopatra in lieu of saving her life. This is the concluding scene where Anubis is shown married to Cleopatra and Anubis also tells how Ra’s prophecy about Cleopatra was indeed true, Cleopatra was taken by death with Anubis being the Lord of death as her wife . Problems encountered : Alice is a memory hogging program due to which my system faced some performance issues .The web access for adding objects from web gallery was slow ,therefore I saved objects from the Egypt World provided in the assessment .Also I use Google Chrome and Alice does not initialize till all Chrome windows are

Concepts learned in International Relations Essay

Concepts learned in International Relations - Essay Example the ‘national interest’ is captured in the image of a social evolutionary process that predetermines a series of associated connotations and denotations of an otherwise natural phenomenon (Trubovitz, 1998, p.3). The individualistic view of ‘what’s good’ is truly based on the concept of private benefit while social good or benefit is located in a larger context that even encompasses international interests. It’s against this backdrop that American national interest as against international collective benefit ought to be examined. Concepts such as ‘absolute good’ and ‘relative good’ in a politically charged environment of conflict between ideologies are more relevant and highly feasible though definitions of them might vary according to biases and prejudices of individuals who seek to interpret them. Social issues of conflict and ideological differences deserve more attention in a study of international relations than a superficial analysis of consequences thereof. Theoretical underpinnings of social transformation in an international relations context focus attention on the inevitable concept of conflict between private interests and public interests. By extension it’s the same conflict between national interests of the individual nation state and the collective interests of the international community at large. The subsequent developments that unfold as the conflict evolves into a multifaceted phenomenon bear a closer semblance to those social issues such as ideological differences, social biases and prejudices, ethnic and religious interests and societal mores or value systems. At an international level the macrocosmic phenomenon though might assume a diversity and a complexity that has little parallel in conflicts within the boundaries of a nation state. The theoretical rigor with which the polemical issues in interstate relations are treated generates a greater degree of enthusiasm in the conflict and its impact on such relations. While

Company Analysis of the Financial Performance of White bread Plc Coursework

Company Analysis of the Financial Performance of White bread Plc - Coursework Example These businesses are conducted under the name of several well-known brands like the Premier Inn, the Beefeater Grill, the Brewers Fayre, Table Table, Taybarns and Costa Coffee. The company provides employment to around 40,000 people all over the world. The organization in based in the United Kingdom and constitutes one of the major hospitality brands of the region. It serves over 11 million customers on a monthly basis in UK. Whitbread Plc recorded commendable financial results in the year 20110-11. The company’s total revenues grew by 11.5 per cent from ? 1435 in 2009-10 to ? 1599.6 in 2010-11. The profit before tax recorded a handsome increase of 20.1 per cent from ? 239.1 in 200-10 to 287.1 in 2010-11. The firm also recorded a 17 per cent escalation in its full year dividend. The corresponding dividend increased from 38 in 2009-10 to 44.50 in 2010-11. Thus, overall the Whitbread Group consisting of the Bars, Hotels, restaurants and the Coffee Chains reported a good growth i n its business operations during the financial year 2010-11. Profitability Ratios Profitability Ratios of a company exhibit the firm’s capacity to generate earnings in comparison with its expenditure incurred during a period of time. Usually, an increase in the profitability ratios of a company over a time period indicates a good financial performance of the firm. (Thakuram, 2007, p.48). The Profit Margin: The Profit Margin is defined as the Net Income/Revenues or Net Profits/Sales. This is usually expressed as a percentage and indicates how much the firm retains as earnings out of every dollar of sales The Profit Margin of Whitbread Plc has been calculated for 2009-10 and 2010-11, as follows: Years Profit before Tax (million) Sales (mn) Profit Margin = Net Profit/Sales (%) 2010-11 ? 287.1 ? 1599.6 17.9% 2009-10 ? 239.1 ? 1434.6 16.7% (Annual Report of Whitbread Plc, 2009-10, 2010-11) Therefore, the Profit Margin of Whitbread Plc has increased from 16.7% in 2009-10 to 17.9% i n 2010-11. This shows that the financial performance of the company has improved from the previous year. Return on Assets (ROA): The Return on Assets is calculated by Net Income/Total Assets. This is also expressed as a percentage and gives an idea about the profitability of the company in relation to its total assets. The ROA of Whitbread Plc has been calculated for 2009-10 and 2010-11, as follows: (Annual Report of Whitbread Plc, 2009-10, 2010-11) The figures indicate that Whitbread Plc’s ROA has increased from 0.0009% in 2009-10 to 0.0010% in 2010-11. This shows that the pro0fitablity of the firm has increased from the last year. Efficiency Ratios Efficiency Ratios are utilized to evaluate how efficiently a company is able to make use of its internal assets and liabilities. An improvement of efficiency ratios usually lead to increased profitability for the company. (Leach, 2011, p.75-78) Sales to Inventory Ratio: This is calculated by Annual Net Sales/ Inventory. It provid es an idea about the inventory-to-sales ratio of the company, which can be compared over a period of time. The Sales to Inventory Ratio of Whitbread Plc has been calculated for 2009-10 and 2010-11, as follows: (Annual Report of Whitbread Plc, 2009-10, 2010-11) Therefore, the Sales to Inventory Ratio of Whitbread Plc, has decreased from 0.55 % in 2009-10 to 0.54% in 2010-11. Assets to Sales Ratio: This ratio is given by Total Assets/Net Sales. It provides an indication of how the firm is utilizing its assets to generate sales. The Assets to Sales Ratio of Whitbread Plc has been calculated for 2009-10 and 2010-11, as follows: (Annual Report of Whitbread Plc, 2009-10, 2010-11) Thus, the Assets to Sales Ratio of Whitbread Plc had reduced from 0.018% in 2009-10 to 0.017% in 2010-11. The decline in both the Efficiency

Food and Beverage Operations Assignment Example | Topics and Well Written Essays - 4000 words

Food and Beverage Operations - Assignment Example It may be ready to serve when it is delivered or it may need to be cooked and finalised (as it is still cold or frozen) in another kitchen, or a second kitchen. The sous vide is the most recently developed system of preparing food. Raw foods are prepared (such as by browning), then placed in vacuum sealed bags or pouches, and then steam-cooked at high temperatures that will pasteurize them. The food can then be served to the customers or chilled and stored. Food prepared this way can be stored for up to twenty-one days. The cook-freeze process means a catering system that requires fully cooking and then rapidly freezing the food. Then it is stored at temperature of -18 degrees or below. The food will be reheated before serving to customers. Care should be taken to prevent the food from being contaminated and to make sure that the stock is rotated and is fresh. before being served to customers. The shelf life of foods prepared by the cook-chill process is much shorter than foods prepared by the cook-freeze process as the shelf life is only five days (including the day of production, the time it takes to be distributed, and the time it takes for regeneration. a waiter who serves guests at the table using forks and knives. The food is served with a salver on to the plate and then placed in front of customers. This is also known as the Russian service. Family service is similar to that of the American service. The gueridon service is when silver salvers of food is placed on a small cart called a gueridon which has a

Men’s Pride Essay Example for Free

Men’s Pride Essay In a story or a work of fiction, the characters are remembered by beliefs and personalities only they possess. These personality and belief make them stand out from all the other characters in the story. They do not have to be the lead protagonist or the main antagonist; rather, their belief or trait makes them the best in the eyes of some readers. In the case of two greatest works of fiction, â€Å"Epic of Gilgamesh† and â€Å"Othello†, it is the pride of the character and their belief in themselves that makes them stand out from the others. It is the pride and later the ability to set it aside and apologize for their deed. In the â€Å"Epic of Gilgamesh†, Gilgamesh, the great king stood out because he was the proudest of the proud. His belief in himself caused most of the misfortune that took place in the story. Only in the end did he realize his mistakes. The same may be said on Othello in the play that Shakespeare wrote. He was also proud, and this pride has caused as much misfortune in the story as did the trait of Gilgamesh. This also made him stand out from among the other characters. The Mighty Gilgamesh The Epic of Gilgamesh is an epic that originated in Iraq. It is a Sumerian legend about a great King, who is like a God. He has a strength that cannot be equaled. He is also as powerful as their gods wherein neither man nor animal can defeat him. As such, the gods decided to create another being that can equal him. When Gilgamesh met this being, whom the gods named, Enkidu, Gilgamesh immediately liked him. They easily became friends despite the initial plan of the gods to have Enkidu kill Gilgamesh. Their bond was instantaneous. They started doing a lot of adventures together, even those that are forbidden and may offend gods (Hooker). Unfortunately, in one of their adventures a god was offended and as punishment for this, Enkidu died. After Enkidu’s death Gilgamesh was almost out of his mind and did more dim-witted decisions that caused misfortunes. However, despite what he saw, he did not apologize but rather remained proud. Only after all his adventures did he come to his knees and realized his mistakes (Hooker). From this short synopsis of the epic, it may be seen that at the very beginning, Gilgamesh already showed his pride and belief in his self. He was aware of his great power and the gift of strength that destiny has gifted upon him. The king of Uruk knew that none of his subjects can defeat him or defy him. As such, he lived by this knowledge and used it to his advantage (â€Å"Epic of Gilgamesh†). He was a proud and tyrannical king and he stood out because of this. Even though his arrogant actions caused the death of his best friend Enkidu, this did not erase the fact that he was a memorable character because of it. He was much known than Enkidu not only because he carried the namesake of the epic’s title, but also because he went against the society. He did not become what other kinds are. He was cruel to his subjects. He was almost an antagonist rather than the lead protagonist due to his pride. He made the story move by not conforming to the people’s expectations (â€Å"Epic of Gilgamesh†). However, despite the seemingly terrible character of Gilgamesh he should also be commended for being proud of himself. It should be noted that to stand up and remain proud despite other people’s constant prodding to become nicer is a hard task especially for a king. Even the gods were urging him to become kinder to his subjects but he never gave in. Also, it should be noted that his pride is his strength. Because of it, he was able to overcome other difficult tasks that saved his kingdom. Had he not been that arrogant, he would not have risked his life for the tasks that he was assigned to and he would not have been able to save his people. Furthermore, he would have committed suicide as a sign of apology for his actions. Thus, with this, the non-conformity and the trait of Gilgamesh made him a character that is very memorable. The Proud Othello Shakespeare’s â€Å"Othello† is about the moor Othello, whose life suddenly made a turn because of the envy of one of the other characters. The great Othello was promoted in his job and his first action was to appoint an assistant. Iago, who was expecting to get the job, was not chosen. Instead Cassio became Othello’s lieutenant. In his fury, Iago sought revenge against Othello and Cassio (Shakespeare). In order to have his revenge realized, Iago weaved lies in the lives of both Cassio and Othello, and even in the lives of other characters involved with the two. This twisted the story to the point that this not only caused Othello and Cassio’s death, but as well as other people whose lives were connected to them. Most of the people, including Othello, believed the lies that Iago told them. By the end of the story, Othello could no longer contain his guilt and killed himself and claimed responsibility (Shakespeare). From this short synopsis it may be derived that Othello’s life had been simple in the beginning. It was only made complex by the lies that Iago weaved in order to realize his revenge. Despite the fact that Iago’s characteristics may actually make him stand out, Othello still is the most memorable character. As in the case of the Epic of Gilgamesh, Othello stood out because of his pride and belief in himself. Being a moor, many would have contradicted his promotion. The society may dislike the fact that a man foreign of nature should not lead the army of Italy. However, because of Othello’s pride and confiedence, he proved himself worthy of the title (Black). To further prove that he was not like anyone else, an instance in the story told that most men try to use potions in order to attract the beautiful Desdemona. Desdemona’s father even believed that Othello did the same when he learned that Othello was sleeping with his daughter. But then, because of Othello’s pride and self-belief, he went against the society’s expectations. He was able to lure Desdemona without potions or magic (Shakespeare). Despite the seeming good results of Othello’s arrogance though, it should not be neglected that the same arrogance killed Desdemona at the end of the story. The inability to accept the truth caused him to kill her. This may be considered saddening as it was not entirely his fault. However, he was still the one who smothered her with the pillow (Shakespeare). Othello’s pride and belief in himself made him stand out from the crowd. He did not conform to the expectations that as a foreigner he cannot be a good soldier to their country. He also proved that he can get the woman he admires with sheer manliness and not through potions or magic. Even the fact that he got himself into trouble because of his pride made his character that is not like any other. He defied society’s expectations especially when he took his life at the end of the play. This was an act of remorse for rebelling against the expectations that he did not want to apologize for. He did not conform because it would have meant hurting his enormous ego. Conclusion From the given information, it may be concluded that the two characters in the two given pieces of literature, â€Å"Epic of Gilgamesh† and â€Å"Othello†, are characters that stood out from the crowd because of their pride and self-belief. Because of being proud, they could not afford to follow what other believed them to follow. They had to show their ability to decide for their own even though it may mean misfortune. They stood out because they went past the people’s expectations and proved themselves better than any other man. They had to act according to their will because of their pride which took great strength. More importantly, in the end of their tales, they showed remorse by killing themselves rather than apologizing which the society expects from them. Works Cited Black, Edward. 2009. â€Å"Oedipus and Othello: Pride and the Tragic Hero†. Lone Star College. 30 April 2009 http://northharris. lonestar. edu/30938/ . â€Å"Epic of Gilgamesh. † 2009. Mythmanhelp. 30 April 2009 http://mythmanhelp. tripod. com/id9. html . Hooker, Richard. 1999. â€Å"Gilgamesh†. World Civilizations. 30 April 2009 http://www. wsu. edu/~dee/MESO/GILG. HTM . Shakespeare, William. 2003. â€Å"Othello†. shakespeare-literature. com. 30 April 2009 http://www. shakespeare-literature. com/Othello/0. html .

Study On The Objectives Of Micro Finance Institutions Finance Essay

Study On The Objectives Of Micro Finance Institutions Finance Essay A sustainable economic growth and development has its foundation on economic agents access to financial services (credit, savings, pension funds etc). Studies have shown that there has been a failure of both the government and financial institutions to provide access to loan able funds to the grass root level of the economy (GCAP, 2010; Sundaresan, 2008), for this reason it has become increasingly fashionable for national economies to set up Micro-finance Institutions to meet the need of these groups of people. Microfinance is becoming widely accepted especially in the developing countries and it is now playing a major role in reduction of poverty and the economic development in the world. This essay seeks to analyse both theoretical and empirical evidence with the view to ascertaining whether MFIs have lived up to their objectives as key drivers of economic growth and development. In addition, the essay will look at the impact of MFIs in Nigeria in relation to poverty eradication wi thin the following perspectives: Provision of Financial Services Access to Finance and Regulatory and Legal Framework for access to finance Nigeria Financial Services Sector is made up of the commercial banks, the Microfinance Banks, Discount houses, Cooperative societies, Insurance sector and Pension funds, Savings and Loans, Leasing companies etc. The essay will focus on those financial institutions that are licensed to take deposits and create loans. Microfinance is defined in terms of the services they offer; the provision of a wide range of services including deposit taking, advancement of loans, payment services, money transfers, and insurance services to the low income members of the economy (ADB, date). Microfinance can simply be seen as the provision of quality financial services to the poor. The theory of Microfinance dates back to 1975 to Mohammed Yunus, an Economics University lecturer in Bangladesh. In his classic research project he designed a credit and delivery system to provide banking services to the rural poor (Hulme et al, 2009). The research gave birth to what is known today as the Grameen bank; that has grown both in assets and operations (Grameen, 2009). The provision of financial services within the Nigeria context has been an abysmal failure. Recent survey by the FinScope found some staggering fact about the level of banking participation in the economy FinScope (2008). According to the study 74% of the adult population have not been banked, 15% of women at the time of the survey have no bank account and 86% of rural adults are not unbanked (FinScope, 2008). A comparison of the level of access to financial services particularly the deposit money bank done amongst four countries in African including; Nigeria, Kenya, South Africa and Tanzania found that Nigeria has the second largest number of non-banking population see Fig. 1 (Isern et al, 2009). The level of financial services illiteracy amongst the adult population is equally very low according to the survey (FinScope, 2008). See Fig 3. The close proximity of Microfinance banks to the rural population offers them a great advantage to reach the nonbanked populace unfortunately; emp irical studies showed that only 3 percent of adults use Microfinance as their main bank (Bun et al, 2007). The Small and Medium Enterprises have been identified as the engine room of growth and development in most economies (Malik and Teal, 2008). However, this very important sector of every developed and developing economy has been very dormant in Nigeria. A World Bank study in 2008 (World Bank, 2008) have identified access to finance amongst others as one of the top constraints of the development of SMEs in Nigeria. In a study that compared the Sectoral contribution to GDP, it was observed that Nigeria SME sector was much smaller than that of other developing countries; according to the study, the SME accounted for about 50% of the nations GDP very little when compared with the 80% of the other developing economies. To improve on this the country need a well funded and operationally strong Microfinance institutions, it is arguable though whether the MFIs operating in the country have lived up to their expectations. For instance, a study done by Malik and Teal (2008) showed that only 5% of firms have received loans from Microfinance Institutions even when 80% applications were received from the SMEs. See Fig.4. The study showed the extent to which access to and cost of financing are a problem for Nigerian SMEs. Access to loan able funds was seen as a function of size; according to the survey, about 59% of small firms faced varying degrees of difficulties in accessing finance compared to 35% of medium firms and 11% of large SME firms. A world comparison of access to and cost of credit done on India, China, South Africa, Indonesia and Brazil saw Nigeria closely following Brazil as countries with the highest impediments to access to credit see Fig 5 (ICA 2008). The study of Isern et al (2009) showed that households, rural populace and SMEs are not very interested in accessing investment funds from MFIs. Part of the reasons adduced for this lacklustre attitude include high interest rates (cost of funds), collateral requirements, maturities mismatch etc. However, the study done by ICF in 2008 showed that cost of funds is cheaper in Nigeria relative to the other 5 countries surveyed. The supply of Microfinance services has a very long history in Nigeria, although this was frequently done in informal ways. A study done by Food and Agricultural Organisation in 2004 estimated that 25% of Nigerians accessed some informal sources of financing (FAO, 2004). USAID in 2005 carried out a survey that estimated that a majority of funding for Manufacturing Small and Medium Enterprises came from personal savings, informal lending schemes known as esusu and gifts from family members (USAID, 2005). The FinScope survey in 2008 equally revealed that 24% of SMEs used informal sources of funding for their businesses. Various forms of Non-Governmental Organisations NGOs which are not for profit oriented micro-credit schemes have been in place since the 1980s. For instance Ford Foundation began supporting households and SMEs in 1993 and as 2004 have provided capacity building grants to 123 organisations worth $180,000 US dollars at the 2000 exchange rate, and the Foundation have refinanced loans to 241 organisations to the tune of $1.7 million (Isern et al, 2009). The study noted that majority of the NGOs used Grameen solidarity groups model to provide loans to small groups of people. The 2005 Microfinance framework made provision for traditional community banks that were operating in the country to be re-licensed as microfinance institutions with a minimum capital base of NGN 20 million (CBN, 2005). The community banks operating in the country before the re-licensing were privately held companies licensed to take deposits from the public as well as provide credit services. CBN reports showed that these banks became very successful in deposit mobilization but failed in their functions as lenders to the rural households and SMEs within the communities that they operated (CBN/OFID Reports, date). As at July 2008, about 125 Microfinance licenses were processed by the Central Bank of Nigeria and most of these licenses were for internationally experienced Microfinance organisations such as ACCION International which is a partnership between Citibank-Nigeria, Ecobank, Zenith bank, IFC and SME manager. Other international organisations like K-REP (Kenya), BRAC (Bangladesh), and the International Finance Corporation (IFC) have provided both funding and technical expertise to MFIs. The traditional commercial banks were not left out of the Microfinance arrangements as most of them opened subsidiaries that undertook the functions of MFIs (CBN reports, 2008). The growth of MFIs in Nigeria was encouraging. See Fig 6. The international capital flows as well as the technical expertise helped to build the much needed confidence that was lacking when the banks operated as community banks. However, the growth and concentration of MFIs may become too risky; as majority of them are serving the same market. CBN data showed that 100 of MFIs were operating in Lagos State alone and 16 in Abuja the Federal Capital. Reports from the CBN showed that as at the end of October 2008, a total of 724 MFIs were fully licensed and in operations, with 607 of them being community banks that were re-licensed as MFIs, about 86 MFIs have been given approval in principle during the period under review (CBN, 2008) Again another important source of risk is from the very low capital base that is required for the MFIs and poor regulatory and supervision framework. The CBN in their current reforms are taking some major steps to mitigate these risks; with the proposal of merging and consolidations within the sector. If the various reforms pull through, the country may see more financial strong MFIs that are able to perform their functions as key drivers of national growth and prosperity. Despite the rapid growth of the MFIs in both size magnitude and operations; lending to rural households and SMEs has continued to stagnate. The growth in MFIs have failed to translate into easy access to investment funds, SMEs and households have continued to bedevilled by high cost of funds and collateral requirements. Adverse selection within the financial services sector has continued to persist as a result of information asymmetry. Information asymmetry in the sense that the MFIs have no way of fully guiding and protecting their loanable funds to the public, as a result of this; higher risk premia are demanded to provide financial services which excludes high quality borrowers. The table showed the low reliance of SMEs in the country on capital from financial institutions; clearly borrowed funds from the banks including the MFIs have remained very low, largely as a result of the factors mentioned before. The result is even worst when compared with that of other developing economies like Brazil, South Africa, China, India, Indonesia and Kenya. Source: ICF Survey (2008) the result showed is for short term financing as in the case of long term financing firms depend entirely on personal funding. Table 8 clearly shows that only 4% of SMEs have access to lines of credit/loans while 8% have access to various forms of overdrafts. MFIs account for a very low percentage of financial services funding in Nigeria, largely because of loan ceiling that is active within that sector. Microfinance institutions operating in Nigeria are mandated to keep 60% of their loan portfolio below the NGN 500,000 (US$4310) loan threshold. Central to the Microfinance regulatory framework is the CBN guidelines for licensing of microfinance banks (MFBs). The guidelines provide two licensing options; unit MFBs that are licensed to operate within the local government area in which they are registered with a minimum capital base of NGN20 (US 172,000) million naira. The unit MFBs according to the guideline may expand their operations subject to the NGN20 million capital requirement per branch. State MFBs are licensed to operate in all parts of the state in which they are registered and are subject to a minimum capital requirement of NGN 1 billion (US $8.6 Million). For the state registered MFBs to raise additional funds and open more branches; they are required to have covered at least two-thirds of the state and raise additional NGN 20 million to open a branch in another state. The prudential regulations of MFIs are designed to manage credit risks that are part of the Microfinance operations; the capital adequacy ratios of the MFIs are set with the notion that the institutions will be engaged in mostly unsecured credit financing, the capital adequacy ratio is set at a risk-rated 10:1 ratio (CBN2005). In addition, there are strict guidelines setting up reserves and dividend pay-outs. Microfinance prudential regulations are designed to reduce risk concentration by putting a cap on the amount of credit an individual and groups can access. The Microfinance prudential regulation is designed to reduce risk concentration by putting a ceiling on individual loans (1% of unimpaired shareholder funds and 5% for group borrower), a 100% provisioning is required for loans over 90 days in arrears or restructured (Isern 2009). Microfinance deposits up to NGN 100,000 (US $862) are protected by the Nigeria Deposit Insurance Fund (CBN 2008). The Supervision of microfinance is based on both on and off-site supervision, box 2 shows a summary of the regulatory and supervision principles of microfinance institutions in Nigeria. Interest Rate policy of Microfinance institutions in Nigeria ranges above 20-30% for loans, advances, overdraft facilities and other types of lending services (Isern, et al 2009). The interest rates charged by the MFIs are quite high when compared to that charged by the conventional money deposit banks see Table 13. The high rates of interest reflects the high risk premia of the targeted audience that the MFIs are designed to serve. The high rate of interest rate has been identified as one of the key factors that limit rural households and businesses from access to credit through the MFIs (Philips 2002). This imposes distortion in the flow of credit as companies that cannot afford the high cost of borrowing look for informal sources which are marred by risks and uncertainties. The review of the operations of Microfinance Institutions in Nigeria has clearly revealed that there should be a trade-off between high cost of funds on one hand and provision of financial services on the other hand. From what they are designed to achieve, they are supposed to provide some sort of lose collateral lending and as such have a higher risk than the conventional commercial banks. Microfinance Institutions in developing economies like Nigeria faces some challenges both in their operations and in the environment in which they operate. One of these challenges as noted by Cerven and Ghazanfer (2008) includes some cultural practices that discriminate against women such as specific cultural, familial and personal circumstances other important considerations to women empowerment in Nigeria are religious issues like Purdah: (seclusion of women) which is rampant in Northerner Nigeria. Technical know-how and in-adequate regulation has been identified as one of the internal and external factors that militate against the growth of MFIs in Nigeria (Campion 2002). Microfinance been in a somewhat embryonic stage; developments and regulations are still evolving is expected that the sector could face some hiccups before stabilizing. Microfinance Institutions have enormous growth opportunities in Nigeria as a result of most of the factors highlighted in this essay; the nature of their operations and the Acts establishing them makes them a better preferred choice for consumers of financial services. However, this comes with a high cost to both the MFIs and their customers. To the MFIs the potential for high loan defaults are present; this may if not managed properly lead to financial fragility in the sector. To their customs; the high cost of interest and cumbersome application process that they have to face is a big challenge; there is an irony in the interest rate charged by MFIs in Nigeria, a country that has a forecasted average growth rate in GDP of between 5-6% per annum, has a cost of fund of between 20- 30%, this presupposes that businesses should grow more than the countrys GDP. Despite all the challenges of the MFIs in Nigeria, they remain substantial to the growth and development of any economy; and in Nigeria in particular the MFIs have large un-tapped markets and are set for long-run profitability if the relevant infrastructures are put in place. Fig 3 Percentage of adults who have never heard of the listed services and products

Sociologists definition of religion

Sociologists definition of religion Even tough sociologists dont have a true definition of religion, they all generally believe that it is a belief in some sort of supernatural. Sociologists such as Functionalists, Marxists Feminists believe that religion is a conservative force, meaning that it inhibits changes within society and maintains the status quo. However, where Functionalists see this as a good thing, Marxists look at it from a more negative aspect. Other sociologists like Neo-Marxists, Marx Weber, and McGuire .. believe religion to be a source of change. The functionalist Emile Durkheim (1912) believed that religion is central to the reproduction maintenance of social order in societies. He argued that the main function of religion is to socialize societies members into a value consensus, by setting shared beliefs, rituals and sacred objects apart. He did an investigation on the role of religion, in a small tribal community in Australia; The Aborigines. He found that the members of this community worshipped sacred objects; objects that are things that are set apart forbidden, which evoke feelings of awe, respect deference, holy things. These objects, called Totems, were a symbol, -usually a plant or animal-, by which the tribes distinguished themselves from one another. In worshiping these sacred objects, individuals would obtain an identity and social membership (or collective consciousness), because they shared the same beliefs, values, traditions norms, that make social life possible. Durkheim stated that in worshipping a societys symbols, its members are unconsciously worshipping their society of which they are a part. According to Durkheim, these unifying practices and beliefs bind people closely together because it forms a balanced and solid moral community, which is a means of protecting individuals from anomie, alienation and other threats. This solidarity also gives individuals the confidence continuing motivation to face up life and ask for social support from other members whenever needed. This strengthens social solidarity, or collective consciousness in society- the sense of belonging somewhere. This is why Durkheim sees religion as conservative and inhibiting social change, which is desirable because its functional and people dont want to change anything about their ways of life. Durkheim was praised a lot for the ways he had done his research because he managed to keep an objective distance of a sociologist, and therefore made it his task to understand the functions of religion, and not to pass his judgements. Also, his argument that the sacred is a symbol of group values has been recognized by many, as in history, people have rallied to flags, crucifixes and holy scriptures. However, his research might be said to be somewhat out of date, as he took his analysis from pre modern societies, and it has to be asked how relevant his theory is in todays western societies. Also, because Durkheim never visited the aboriginal society himself, his methodology was said to be flawed. Some say that he misunderstood Totemism, ad generalized about other societies based on one small Aboriginal society. Durkheims theory on religion was ground breaking and very influential, inspiring much further research. The functionalist Bronislav Malinowski (1954) agreed with Durkheim on all the points he made about the role of religion. However, he focussed on the specific areas of social life with which religion is concerned, and managed to point out that another function of religion is to provide support for societys members in situations of social stress, like birth, death, marriage, divorce etc., where religion serves to reduce anxiety tension resulting, which threaten to disrupt social life. In this sense, religion keeps society stable at times of individual and societal confusion and disorder and makes sure that people dont reject the shared norms, values and traditions due to times of hardship. An example would be after the 2004 Great Indian Ocean Tsunami, where most of the worlds religions sent support teams to the disaster area helped to rebuild the place. They wanted to rebuild schools as fast as possible in particular, to maintain the important link between society, education religion. Unlike Durkheim, Malinowski actually went and lived in the society where his work was based on, gaining primary data. This is seen as a very positive thing, because no accusations of his work being flawed could be made. Also, his idea about how religion helps in time of crisis uncertainty can be seen in todays society e.g. the funeral of Princess Diana, where people gathered together expressed their grievance. However, like Durkheim, he makes broad generalizations based on his study of just one small scaled society, which obviously does not represent life in modern western society. The functionalist sociologist Talcott Parson (1965) believed that religion was a conservative force, because its the primary source of meaning for members of society. It provides answers to eternal questions dealing with death, the evil, suffering and justice. Often these questions appear to be unjustified, and therefore they might threaten to undermine peoples faith. However, religion provides answers; e.g. for the question why do evil people prosper religion might give the answer that these evil people will get punished for their deeds in the afterlife etc. By providing these answers, religion helps to make sense of all experiences, which keeps society in order and stable, therefore inhibiting changes. So, religion promotes social stability rather than change, by relieving tension frustration that could disrupt social order. However, Marxists would strongly disagree with this idea, as they believe that by focussing on the afterlife, people passively accept exploitation. Marxism is a conflict theory. Like functionalist, they believe that religion is a conservative force, but they dont see it from a positive view. According to these sociologists, religion is an institution of domination oppression, and a means of social control, inhibiting changes in the social class inequalities in society. They argue that religion legitimizes social inequality, keeping the working classes in a state of false consciousness, not being aware of the true nature of their exploitation passively accepting their lower status. This is because, according to Marx, religion acts as the opium of the people -it works as a pacifying drug-, as it doesnt solve any problems that people may have, but only dulls the pain, as people inactively put up with their sufferings, believing its Gods will and so unchangeable, remaining in a state of false consciousness, thinking they will be rewarded in heaven. Marxists on the whole believe religion creates passive individuals, who do not attempt to change the world for the better, but simply accept spiritual alternatives. The fact that Marxists believe that man makes religion, religion does not make men sums up their ideas. In other words, if an individual is alienated exploited, he or she is likely to turn to religion and find the answers there. This is the reason why most religions originate in the oppressed classes (the working classes), as they have a need in religion, to gain a sense of renewed strength and confidence to move on with life. According to Marxists, the ruling classes are using religion as a tool to maintain ideological control, making it less likely that the members of the working class will recognize the fact that they are being exploited therefore revolt in this way, religion is seen as a conservative force. Marxist have gained theoretical support from feminists because they agree with Marxists about the fact that religion causes conflict, passing on negative norms and values to members of society, although they believe these deal with gender inequality rather than class inequality. However, a negative aspect of the Marxist view is that they ignore secularization, as the ideological power of religion has been undermined by the fact that people in society tend to be less religious today than in the past. Also, they are too deterministic in saying that religion is a conservative force for social class inequalities. Religion can be a force for social change, and it has done so in the past, improving the lives of millions of oppressed working class people. E.g. the Civil Rights Movement (USA) where South African churches played a major role in changing white supremacist society. Also, the levellers in the English Civil War wanted a communistic society, basing their ideas on Christianity the Bible. Like Marxists, Feminists believe that religion is a means of social control, oppressing women and keeping men in power. They argue that religious beliefs are merely a patriarchal ideology, restricting social change and justifying social inequality. Feminist believe that through secondary socialization, religion teaches preaches the norms values of the men, helping to legitimize the suppression of women. Much evidence is given to support their view. Feminists argue that religion is seen from a male point of view; holy texts are all written interpreted by men, reference to male characters is a lot more than women in these texts, and Gods tend to be men in almost all major world religions. This gives men the feeling of being holier and gives a justification to see women as second hand citizens therefore, as I said, legitimizes gender inequality. Also, where there is reference to female characters in holy texts, a passive and nurturing gender role is attached to them.. ADAM EVE.. Gender role ideas are also reinforced in religious texts. Men are portrayed as being strong and insuperable Women on the other hand, are portrayed to be passive, unintelligent They argue that religion is a conservative force, as it reproduces, maintains legitimizes gender inequality. However, there are also sociologists who believe religion to be a source for social change. Firstly, Neo-Marxist, However, not all Marxists agree that religion is purely the opium of the people. Neo-Marxists, who are writers that have tried to update the writings of Karl Marx to suit new developments in society, have rejected the view that religion is merely a conservative force. They believe that religion can be a force for social change, being used by the working class to bring about social change. Antonio Gramsci (1971), who wrote his ideas about religion around the 1920s, was aware of the fact that the Roman Catholic Church had shaped the minds of its followers over centuries, supporting ruling class interest, by making the poor oppressed focus on the afterlife rather than this life. However, he believed that the working class could revolt to the class inequalities, by producing their own intellectuals, who represent working class experience therefore help to shape working class consciousness. Gramsci argued that religious beliefs and practices could develop that would support guide challenges to the ruling class because the church was not directly under their control. Otto Madurdo argued that social liberation could occur, (freedom through religion) but he believed this could only happen If the oppressed masses were not to produce their own intellectuals, but if they were go to their religious leader, taking their discontent to the churches and let them decide a plan of action bringing about changes as happened in Poland, South Africa and South America. This is called the liberation theology- freedom through religion. Father Camillo Marx Weber was another sociologist who believed that religion could be a source for change Strengths of his theory were that

History :: essays research papers

Question 3: Triangle trade brought slavery to America and helped Americans get important commodities it could not otherwise obtain. In the short term, triangle trade allowed farmers, fishermen, and other businesses to export their goods and make money, also allowing them to import goods that they needed from England. Triangle trade was necessary because of the British Navigation Acts, which restricted trade on certain items. Triangle trade also came about because sometime around the 1730’s the English market had reached its saturation point with American goods. The English had no need for American products, but the Americans still needed money to buy the English goods. The answer was in looking to foreign markets. In the early to mid 1700’s triangle trade brought prosperity and important goods to the colonists. Triangle trade did indeed bring important commodities, slaves being one of them. Slavery is the most important thing that triangle trade produced. The issue of slavery continually caused tension between the northern and southern colonies/states until finally there was war. The issue of slavery divided a nation ironically named the United States. While on an issue with all low points there is one fact which stands above the rest, somewhat. Due to the fact that it was a longer voyage for the slaves to reach America they were much higher priced than in the Southern Americas, where slaves were considered expendable and worked until death. Accoridngly, slaves where considered important and treated much better in North America. Slavery is a low point in American history many will try to forget, but will be embedded in the minds of all. The Great Awakening was a time of spiritual revival from the bland, monotone speakers of the past. The new speakers were crazed with enthusiasm and used unheard of methods of preaching, which greatly upset â€Å"old lights† or orthodox clergymen. The Great Awakening caused the creation of many new denominations, preaching styles, and competitiveness in America’s churches. Jonathan Edwards was one of the first men to revolutionize the nation with these new preaching techniques. His most famous speech, â€Å"Sinners in the Hands of an Angry God,† gave a graphic depiction of what eternal damnation was like. He used an example of a spider hanging from its web over a fire to show that at any time you could die and be cast into hell. The other prolific speaker of the time was George Whitefield.

Battle Of The Little Big Horn :: essays research papers

  Ã‚  Ã‚  Ã‚  Ã‚  The journey of exploration to the western territories brought the white man many great things, but they did face some opposition. The US government made plans to explore the Black Hills, after hearing of the gold it contained. This was not an easy task. The Sioux, with strong force, were not giving up their sacred land easily. The only way to gain the territory of the Black Hills was to wage war against the Sioux. The Battle of the Little Big Horn was one battle that the US will never forget. General George Custer led an army of men to take out the Sioux, one of the battalions was completely wiped out including Custer. The Sioux were very strong, but US had a lot more power and technology. Why did we get massacred? This question has been a mystery to many people throughout the years. Sergeant Windolph, of Benteen’s cavalry, and John F. Finerty, from General Crooks cavalry, bring us some personal accounts and memories of this tragedy.   Ã‚  Ã‚  Ã‚  Ã‚  There are many factors that did affect the outcome of this battle. George Custer could be to blame for such a tragedy. He did make the critical decisions that brought his soldiers down. Custer’s personal ambition got the best of him. Windolph explains, â€Å"Custer was partially disgraced because General Terry had superseded him in command of the expedition† (Windolph 174). He felt that he should have received control over the entire expedition. Custer made no secret of his intention to cut loose from Terry. General Terry, General Gibbon, and General Custer were all to meet on June 26, at the Rosebud, and plan their attack. But as soon as Custer struck the trail of the Indians he followed it till he came upon the Indian village on June 25. He disobeyed Terry’s orders.   Ã‚  Ã‚  Ã‚  Ã‚  While Terry and Gibbon were meeting in Rosebud, Custer was already dividing his regiment into three separate battalions. Sergeant Windolph, from Reno’s battalion, recalls: The enemy increased so greatly in numbers that we were forced into the timber for protection, but I firmly believe that if, at that moment, all our companies had been together the Indians would have been driven from their village (Windolph 166). If Custer had not separated his troops into three battalions, they might have left victorious over the Sioux. Windolph also states that â€Å"The Indians also stated that the separate detachments made their victory over the troops more certain† (Windolph 161).

Wuthering Heights :: essays research papers

The Role of Books in Wuthering Heights   Ã‚  Ã‚  Ã‚  Ã‚  Emily Bronte's 1847 masterpiece of English literature, Wuthering Heights, is a very deep and complex book that cannot simply be classified as a love story since there is no traditional happy ending for the primary characters and the heroine dies halfway through the book. This book is such a classic because Bronte has the ability to transform characters feelings onto the paper like no one else can. One important theme that relates to most of the characters in Wuthering Heights is that of books and the role they play throughout the story. There is no simple response to this question since the answer differs with each individual character. It is evident, though, that books are very important to the various relationships encountered in this story and that they can be interpreted in many different ways.   Ã‚  Ã‚  Ã‚  Ã‚  The first incident in which books play a role in this story is also one of the most powerful scenes in the entire book. It occurs when Mr. Lockwood has determined that he must stay the night at Wuthering Heights, his landlord's estate. Heathcliff's servant, Zillah, shows Mr. Lockwood to his room and cautions him to 'hide his candle and not make a noise'; since Heathcliff would not willingly approve of his staying in that room. Just after Mr. Lockwood enters the room, he discovers three names carved over and over onto the ledge near the window, Catherine Earnshaw, Catherine Heathcliff, and Catherine Linton. Mr. Lockwood begins paging through and examining the collection of books he determines to be Catherine's. The books, he notices, have been well used judging from their dilapidation and 'scarcely one chapter had escaped a pen-and-ink commentary at least, the appearance of one covering every morsel of blank that the printer had left.'; After a short time, Mr. Lockwood dozes off but is awaken quickly by the sound of tapping on the casement window. He sleepily decides that it is the rapping of a nearby tree branch and goes back to sleep. Not much later, he dreams that he is again awakened by the same sound and tries to open the window and break off the source of the distraction. He cannot open it and, breaking the glass, reaches for the branch. To his absolute horror, he finds himself grasping a little ice-cold hand while 'a most melancholy voice'; sobs, 'Let me in let me in!'; In a sense of panic, Mr. Wuthering Heights :: essays research papers The Role of Books in Wuthering Heights   Ã‚  Ã‚  Ã‚  Ã‚  Emily Bronte's 1847 masterpiece of English literature, Wuthering Heights, is a very deep and complex book that cannot simply be classified as a love story since there is no traditional happy ending for the primary characters and the heroine dies halfway through the book. This book is such a classic because Bronte has the ability to transform characters feelings onto the paper like no one else can. One important theme that relates to most of the characters in Wuthering Heights is that of books and the role they play throughout the story. There is no simple response to this question since the answer differs with each individual character. It is evident, though, that books are very important to the various relationships encountered in this story and that they can be interpreted in many different ways.   Ã‚  Ã‚  Ã‚  Ã‚  The first incident in which books play a role in this story is also one of the most powerful scenes in the entire book. It occurs when Mr. Lockwood has determined that he must stay the night at Wuthering Heights, his landlord's estate. Heathcliff's servant, Zillah, shows Mr. Lockwood to his room and cautions him to 'hide his candle and not make a noise'; since Heathcliff would not willingly approve of his staying in that room. Just after Mr. Lockwood enters the room, he discovers three names carved over and over onto the ledge near the window, Catherine Earnshaw, Catherine Heathcliff, and Catherine Linton. Mr. Lockwood begins paging through and examining the collection of books he determines to be Catherine's. The books, he notices, have been well used judging from their dilapidation and 'scarcely one chapter had escaped a pen-and-ink commentary at least, the appearance of one covering every morsel of blank that the printer had left.'; After a short time, Mr. Lockwood dozes off but is awaken quickly by the sound of tapping on the casement window. He sleepily decides that it is the rapping of a nearby tree branch and goes back to sleep. Not much later, he dreams that he is again awakened by the same sound and tries to open the window and break off the source of the distraction. He cannot open it and, breaking the glass, reaches for the branch. To his absolute horror, he finds himself grasping a little ice-cold hand while 'a most melancholy voice'; sobs, 'Let me in let me in!'; In a sense of panic, Mr.

Further Topics In Primary Mathematics Education Education Essay

Childs can be assessed on five facets of a subject, viz. : constructs ( 1 ) , processs ( 2 ) , processes ( problem-solving ( 3 ) , connexions ( 4 ) and communication/representation ( 5 ) ) , ( Glanfield, Bush & A ; Stenmark, 2003 ) . With mention to the Topic ‘Length ‘ as it is presented in Abacus Level 3 ( SDM p.3 – 8 ) , remark about the expected appraisal undertakings presented in the Assessment Book Level 3 ( p.60-61 ) in the visible radiation of the afore-mentioned five facets.ConceptsDefinition:â€Å" Measurement involves a comparing of an property of an point or state of affairs with a unit that has the same property. † ( Van de Walle, J.A. ) Therefore, constructs are of import for the kids to assist them separate the mensurable properties of the objects.Review of the Assessment BookConcepts in the subject ‘Measurement ‘ trades with the thought of length, size and units. The kids in a twelvemonth 4 category should be able to utilize vocabu lary related to length such as: long, longer, short, shortest, tall, narrow, broad etc. They should besides hold an thought what appraisal, measuring and comparing lengths are all about by utilizing the standard units ( centimeter, m and kilometer ) . Besides, the kids should be introduced and asked to propose suited units and equipment for any peculiar measuring. The Assessment book ‘s chief constructs do fit with the course of study ‘ , but the Assessment book have missed to advert the kids ‘s acknowledgment that the longer lengths necessitate a larger unit, that is kilometer, and that the shortest lengths, require a smaller unit, that is the centimetre. Besides, the ability to step and record lengths utilizing formal units and denary units to the nearest half ex: 50cm = 3.5m. The Assessment book within its restriction of exercisings does address most of the listed constructs. Basically all the working exercisings and custodies on activities in the Assessment Boo k are a good agencies of measuring the kid ‘s impression of the measuring ‘s chief constructs. The unwritten inquiries assess the cardinal vocabulary merely like in all other activities, and assess the kids ‘s impression of ‘estimation ‘ . Exercise 1 is a good agencies of measuring whether the kid grasped the thought of comparing different lengths every bit good as usage the suited units and equipment to mensurate a peculiar object. Exercise 2 buttocks if the kids have truly savvied the relationship between different standard units, that is, from kilometer and m and m and centimeter, merely like the ‘Write the fiting measuring ‘ exercising. As the rubric ‘Match the appropriate measuring to each object provinces, here the kids are assessed on placing the suited units to fit it with the objects taken from existent life, and acknowledging that longer lengths require a larger unit ( kilometer ) and smaller lengths require a smaller unit ( centimeter ) The last exercising on the Assessment book, once more, assesses the kid ‘s ability to compare le lengths. Although the activities in the Assessment Book somehow covers the afore-mentioned mathematical constructs in measuring, there needs to be more exercisings which assess harder undertakings, constructs which kids are likely to hold on and understand by making one exercising. Concepts such as the relationship and transition of different units from kilometer to m, m to cm, and frailty versa.Review of the Text BookComing to analyse the text edition, we think that most mathematical basic constructs are all addressed. Get downing off from the text edition ‘s bold headers ‘Centimetres ‘ ( centimeter ) and ‘Metres ‘ ( m ) are thought to be a good agency of a uninterrupted unit abbreviation reminder all through the exercisings. The exercisings ‘ rubrics are really child friendly and assessment friendly. One can observe that when the kid is asked to make more than one undertaking in an exercising, the stairss are written in a separate address bubble. For case the first exercising on page 3 invites the kid to: first to happen one of each object, so gauge its length in centimetres and eventually utilize a swayer to mensurate it. This aid the kid to confront a task measure by measure and besides assist him to analyse a job spot by spot subsequently on. It ‘s besides a good agencies of assisting the instructor analyze and measure the kids ‘s failings and strengths by set uping the measure which the kids failed to carry through the measure which the kids failed to carry through, therefore it would be a good manner for the instructor to undertake the weak point straight ways. We have noticed that kids are non invited to utilize informal units and besides it would hold been a good manner to presen t measuring. Besides, sometimes in one exercising there is more than one construct tackled, which makes the exercisings harder. The first exercising on page 3 makes us inquire what the lessons ; nonsubjective really is. Is the lesson based around the appraisal of eh measuring of the existent length ‘s construct? These types of exercisings which have in them excessively many aims are likely to do confusion. This could hold been ideal as a alteration exercising instead than the first exercising of the measuring ‘s subject. Besides neither of the exercisings invite the kids to set up when to utilize standard units. All the exercisings in the text edition though screen all the constructs. The first exercising on page screens and addresses the vocabulary related to length, appraisal and measuring, whilst the other exercising focuses on taking the suited units. Besides on page 4, kids are assessed on their ability to take the suited criterion unit and into understanding the fractional units to the nearest half even it this construct is non listed in neither the course of study non the appraisal book and besides measuring whether the kids have understood the construct that longer lengths require longer units ex. kilometer. Page 5 focal points on the construct of happening the relationship between meters and centimetres ex. 3m 15cm +25cm = 3m 40cm. The remainder of the lengths exercisings assess the kids ‘s ability to work out jobs and happen the sum and the difference of two lengths.Compare and Contrast the Assessment Book with the Textbook.Having to compare and contrast the assessment book with the text edition we realized that the vocabulary related to length is absent. Besides the assessment book does non advert that one of the constructs learnt by the terminal of the subject is decimals for meters and centimetres even though at that place go on to be an exercising to ‘Write each length in meters utilizing a denary point ‘ ex. 2.48m. Adding to this, even the text edition contains exercisings which concepts chiefly are: taking suited units and utilizing fraction al units to the nearest whole. Besides, we think the text edition is more child and teacher friendly as respects to its content. Surely the text edition has got rather more pages with measurings exercisings than the assessment book, therefore scaffolded acquisition is exercised even more. Besides, kids have more chances to hold on the subject ‘s constructs through the multiple exercisings. On the other manus, the assessment book includes practical custodies on activities which help into prosecuting the kids more into the subject whilst making a richer acquisition environment and were constructs are easy understood and applied.Mentions:Chief Mention:Van de Walle, J.A ( 2007 ) Elementary and Middle School Mathematics. United States of America.Other MentionsNorthern Territor Government ( 2009 ) Mathematics Measurement Retrieved on ___________ from hypertext transfer protocol: //www.det.nt.gov.au/__data/assets/pdf_file/0018/2376/ntcf_maths_measurement.pdfProceduresDefinition:Proce dures fundamentally refers to the staging of a lesson so as the kids comprehend the mathematical construct easier. Scaffolding chiefly consists of oppugning and listening both from the instructor and the kids. Group work, brace work, category treatments, and custodies on activities are ways which the instructor can use for scaffolding.Critique of Assessment book:The Assessment Book offers a assortment of processs that kids can utilize to larn measuring. Teachers can happen unwritten inquiries which can be discussed as group activity in category. This encourages the kids to portion their ain consequence and clear up any jobs. After such verbal exercisings, the Assessment Book moves on to written exercisings. Here, scaffolding is rather apparent since after the kids work together in category, they will subsequently be invited to work separately. Activity 2 of the Assessment book ( Practice Activities ) kids are besides cognitively challenged since they are asked to believe, estimation and so, step to measure themselves whether they were got it right or incorrect. However, non all activities in the Assessment Book purpose to measure processs relevant to a twelvemonth 4 degree. For case, inquiry ( figure 1 ) ‘Do you think this line is 3cms, 30cms, or 300cms long ‘ does non necessitate any peculiar thought accomplishments since here we are covering with eight twelvemonth olds. A more appropriate activity would hold been if kids were given three measurings to take from, but with closer figures, for illustrations 30cms, 4cms, and 50cms. The remainder of the inquiries ( 2, 3 and 4 ) are appropriate for the twelvemonth 4 degree. Adding to this, we think the ‘Match the appropriate measuring to each object ‘ exercising is excessively simple for kids in twelvemonth 4, although one can still use it as a mental warm up it helps kids visualize and differentiate between the two basic units of measuring ( centimeter and m ) . The ‘Write the duplicate measuring ‘ exercising is non scaffolded since it does non construct on the old exercising. It would hold been wiser if there was a tabular array or simple exercisings which help in measuring the kid ‘s apprehension of how many centimetres there are in a metre, and how many meters there are in a kilometre. Hence, this exercising would hold been more effectual if it was given as the subject ‘s alteration activity in the Assessment Book as it covers all the 3 basic measurings.Critique of Text book:The text edition offers assorted processs for kids to larn and hold on the length ‘s construct. Some exercisings invite the kids to gauge and mensurate length, happening a distance in the schoolroom to fit the length given, happening objects to mensurate, composing how many meters or centimetres and happening the difference or adding up meters and centimetres. Therefore, as it can be seen from the afore-mentioned activities, the exercisin gs involve written and verbal undertakings and besides activities where kids are provoked to utilize their thought accomplishments. Childs are foremost introduced to centimetres, so to meters and so, a combination of the two. Hence, we think that the basic units of measuring are scaffolded for the kids to larn and hold better grok the subject.Compare and Contrast the Assessment Book with the Textbook.There is a sense of process in both books as the inquiries posed to the pupils are scaffolded harmonizing to their troubles, therefore every inquiries physiques on each other. math.ecnu.edu.cn/ †¦ /EARCOME3_LAU_NGEE % 20KIONG_TSG406 ( ) .doc – the web site can non be viewed on the cyberspace since it file extention is.doc, nevertheless if you want to see the web site we kindly ask you to entree this nexus hypertext transfer protocol: //www.google.com.mt/search? hl=mt & A ; source=hp & A ; biw=1259 & A ; bih=569 & A ; q=Furthermore % 2C+ideas+are+not+isolated+in+memory+but+are+organized+and+associated+with+the+natural+language+that+one+uses+and+the+situations+one+has+encountered+in+the+past. % E2 % 80 % 99+ % 28NCTM % 2C+1989 % 2C+p.+10 % 29, and entree the nexus titled Scaffolding Students ‘ acquisitionRyan.M ( 2003 ) . Classroom Tips For Teaching Measurement. Cited on: ____________ from hypertext transfer protocol: //www.primarymaths.ie/files/measurementtips.pdfProcedures ( Problem-Solving )Definition:â€Å" Leting the topic to be debatable agencies leting pupils to inquire why things are, to ask, to seek for solutions, and to decide incongruousnesss. It means that both the course of study and direction should get down with jobs, quandary, and inquiries for pupils. † Hiebert Er Al ( 1996, p.12 ) Van de WalleOrâ€Å" Good jobs can animate the geographic expedition of of import mathematical thoughts, raising continuity, and reenforce the demand to understand and utilize assorted schemes, mathematical belongingss, and relationships. Such wonts are of value non merely in the mathematics schoolroom, but besides in formal and informal acquisition and work environments throughout life. †( NCTM, 2000, p. 182 )Critique of Assessment Book:The Assessment book deficiency job work outing inquiries. Looking carefully at the inquiries in the assessment book we noticed that there are merely two job work outing inquiries. These are found under the heading ‘Oral inquiries ‘ and are inquiries figure 3 and 4. Here, the kids are required to happen the entire length of two pieces of strings and to happen the difference between the highs of two kids. Since these two inquiries are under the header of ‘Oral inquiries ‘ we thought that it wo uld hold been better if these inquiries were presented in a written mode as the kids might happen it difficult to retrieve the lengths when working it out. Afterwards the instructor can exchange the lesson to an unwritten manner where they can discourse the grounds for the methods used.Critique of Text Book:There are about five narrative amounts in the text edition, which we think are a spot disputing for eight twelvemonth old pupils. For case, on page 5, the kids have to research which routes from school they will necessitate to run, so as to run 1Km. We think, that this inquiry is misdirecting and the kids would happen it disputing if the instructor will non explicate it good. On page 7, there is another narrative amount about a puppy and how much did it turn each hebdomad. We besides think that this is disputing for the kids since they can acquire confused from where they are traveling to get down. We thought that this would be a possible manner, how the instructor can show this narrative amount to the kids: Teacher: What information was given? Student 1: That the puppy is 55cm long. It was 15cm long when it was born. That it is more than 2 hebdomads old but less than 10 hebdomads old and that it grows the same sum each hebdomad. Teacher: How can you cognize how much the puppy grew hebdomadally? Student 1: First I subtracted the puppy ‘s present length ( 55cm ) with the length when it was born ( 15cm ) . Then I divided the reply ( 40cm ) by 4 by test and mistake since I know the puppy is more than 2 hebdomads old but less than 10 hebdomads old, and got an reply of 10cm growing every hebdomad. Teacher: Who has a different reply? Student 2: I divided the puppy ‘s growing by 5cm and got an reply of 8cm growing per hebdomad. Teacher: How did you look into your reply? Student 2: I multiplied the puppy ‘s hebdomadal growing ( 5cm ) by the figure of hebdomads ( 8weeks ) and got 40cm ( the puppy ‘s present length ) . Teacher: How else can you look into the reply? Student 3: You can add 5cm + 5cm + 5cm + 5cm + 5cm + 5cm + 5cm + 5cm which makes 40cm ( the puppy ‘s present length ) Teacher: Who agrees? Why? Students: I do/I do n't OTHER PROBLEMS FROM PAGE 8Compare and Contrast the Assessment Book with the Textbook.Even though job resolution is seen in both the Assessment book and the Text book, we think that they are non scaffolded since they do non increase in trouble at every inquiry. The Assessment book has two job work outing amounts which are non hard for the kids to understand. However, narrative amounts found in the text edition are rather disputing for a twelvemonth 4 degree since they require a batch of believing accomplishments.Mentions:Thomas R. Post ( 1988 ) Teaching Mathematicss in Grades K-8 Allyn and Bacon, Inc Printed in the United States of AmericaChief Mention:Post, T.R ( 1988 ) Teaching Mathematicss in Grades K-8. United States of America. Allyn and Bacon, IncOther Mentions:Annenberg Foundation ( 2011 ) . Detecting Student Problem resolution. Cited on _________from hypertext transfer protocol: //www.learner.org/courses/teachingmath/grades3_5/session_03/section_01_b.htmlConnectionsDefintion:â€Å" linking mathematical thoughts includes associating new thoughts to associate thoughts considered antecedently. These connexions help pupils see mathematics as a incorporate organic structure of cognition instead than as a set of complexaˆÂ ¦concepts, processs and procedures. † ( ktieb ref )Critique of Assessment Book:Mathematicss should non be seen as a set of detached subjects but as a â€Å" web of closely connected thoughts † ( book ref ) . Such comparabilites amongst these connected thoughts are non easy perceived by the kids, and so they prompt for more account to reply the ‘why'/ Such equalities in the assorted mathematical content Fieldss ma make a sense of correctedness and linkage in the mathematical surveies. The assessment book nowadayss such connexions truly good. Exercises like exercising 1 under the header ‘ Practice activities ‘ , and the â€Å" Match the appropriate measuring to each object † exercising both provide chances for kids with exercisings affecting existent life state of affairss. This helps the kids to see what they are larning with their ain existent life state of affairss and environments, and therefore it further heighten their acquisition on what is being taught. The unwritten inquiries in the appraisal book besides aid in promoting and disputing kids for farther account of their new thoughts, from which they could develop new scheme grounded on old mathematical cognition.Critique of Textbook:The unity between assorted countries and mathematics is besides apparent in the text edition. It is full of existent life state of affairss to which the kids can associate such mathematical constructs. Such chances help kids to enrich larning in assorted countries. The ‘snake ‘ activity offers the chance to detect if the kids have understood that a fraction has an tantamount denary presentation. Other exercisings besides help pupils to pull their town with assorted paths they might utilize to walk from place to school during a societal surveies lesson. Children are so invited to cipher the distance traveled. Since Mathematics is non a standalone topic, instructors need to pre-plan such activities so that from such connexions, more chances for the enrichment of larning ar e provided.Compare and contrast Assessment book with text edition:Both books make a smooth connexion with other countries so that Mathematical countries are non seen isolated from others. Through the assorted job resolution exercises found on both books but chiefly in the text edition which involve probe, anticipation and measuring exercisings, kids are enabled to construct such procedures and integrate them with scientific discipline. Both books connect truly good with other subjects, but both books could hold provided exercisings with farther probe and geographic expedition of such mathematical constructs and besides supply more chances where kids are asked to explicate their schemes when gauging lengthsCommunication / RepresentationsDefinition:Communication is an indispensable tool for kids to understand mathematical constructs and for problem-solving. Communication consists of enriching the mathematical vocabulary so that the kids will happen it easier to pass on with each other in order to clear up inquiries, discourse a solution or discourse a job. Communication should non merely be between the instructor and the pupil, but besides between the kids themselves. Representation assists the kids to develop and pass on their thought accomplishments and stand for their ain solutions in assorted ways. Models and images aids the kids to understand and pass on better the consequences.Review if the Assessment Book:The ‘Oral inquiries ‘ ( Numberss 1-4 ) allows communicating to discourse the reply for each inquiries. Children can portion their thoughts of how they worked the inquiry out, to the remainder of the category. However, since they are ‘oral inquiries ‘ the kids do non hold the chance to stand for their working or diagrams that they used to acquire the reply. Hence, it lack representation. Page 2 of the Assessment book, involves written exercisings. Here, the kids do non hold the chance to discourse the replies as a group since they are required to compose down their replies in the infinite provided.Review of the text book:The text edition offers rather piquant illustrations that will assist the kids to understand the measuring construct good. Some of the exercisings, for case page 3 and 4 could be worked out in braces or groups. This will besides let sharing of thoughts through communicating. Here, they are required to happen objects, estimation and mensurate them. The activity found on page 5 where the kids has to see where they can run from school so as to make 1 Km has rather an engaging image which the kids can follow, even though the inquiry is a spot disputing for LOW ABILITY STUDENTS. The narrative amounts found on page 7 and 8 allow the kids to pull diagrams or write information in their ain manner so as to happen the reply. The replies can so be discussed as whole group.Compare and Contrast the Assessment Book with the Textbook.Both the Assessment book and the Text book offer the chance to the kids to discourse replies as a whole category, if they are used carefully by the instructor. However the Assessment books lacks a spot Communication since it merely has 4 inquiries to be discussed. Apart of this, both books lack utilizing theoretical accounts to stand for their reply.

Cfa Level1 Note – Ethics and Professional Standards

Ethical and Professional Standards 1. : Code of Ethics A. : State the four components of the Code of Ethics. Members of AIMR shall: 1. Act with integrity, competence, dignity, and in an ethical manner when dealing with the public, clients, prospects, employers, employees, and fellow members. 2. Practice and encourage others to practice in a professional and ethical manner that will reflect credit on members and their profession. 3. Strive to maintain and improve their competence and the competence of others in the profession. . Use reasonable care and exercise independent professional judgment. to launch Standards of Practice 2-I. : Standards of Professional Conduct: I. Fundamental Responsibilities A. : Know the laws and rules. Standard: Maintain knowledge of and comply with all applicable laws, rules, and regulations (including AIMR’s Code of Ethics and Standards of Professional Conduct) of any government, government agency, regulatory organization, licensing agency, or profe ssional association governing the members’ professional activities.Compliance: Members can acquire and maintain knowledge about applicable laws, rules, and regulations by: †¢ Maintaining current files on applicable statutes, rules, and regulations. †¢ Keeping informed. †¢ Reviewing written compliance procedures on a regular basis. B. : Don't break or help others break the law. Standard: Not knowingly participate or assist in any violation of such laws, rules, or regulations. Compliance: When members suspect a client or a colleague of planning or engaging in ongoing illegal activities, members should take the following actions: †¢ Consult counsel to determine if the conduct is, in fact, illegal. Disassociate from any illegal or unethical activity. When members have reasonable grounds to believe that a client’s or employee’s activities are illegal or unethical, the members should dissociate from these activities and urge their firm to attempt t o persuade the perpetrator to cease such activity. 2-II. : Standards of Professional Conduct: II. Relationships with and Responsibilities to the Profession A. : Use of Professional Designation II(A. 1) AIMR members may reference their membership only in a dignified and judicious manner.The use of the reference may be accompanied by an accurate explanation of the requirements that have been met to obtain membership in these organizations. II(A. 2) Those who have earned the right to use the Chartered Financial Analyst designation may use the marks â€Å"Chartered Financial Analyst† or â€Å"CFA† and are encouraged to do so, but only in a proper, dignified, and judicious manner. The use of the designation may be accompanied by an accurate explanation of the requirements that have been met to obtain the right to use the designation. II(A. ) Candidates in the CFA Program, as defined in the AIMR Bylaws, may reference their participation in the CFA Program, but the reference must clearly state that an individual is a candidate in the CFA Program and cannot imply that the candidate has achieved any type of partial designation. B. : Professional Misconduct II(B. 1) Members shall not engage in any professional conduct involving dishonesty, fraud, deceit, or misrepresentation or commit any act that reflects adversely on their honesty, trustworthiness, or professional competence.II(B. 2) Members and candidates shall not engage in any conduct or commit any act that compromises the integrity of the CFA designation or the integrity or validity of the examinations leading to the award of the right to use the CFA designation. Compliance: 1. Make clear that dishonest personal behavior reflects poorly on the profession. 2. Adopt a code of ethics to which every employee must subscribe. 3. Conduct background checks on potential employees to ensure that they are of good character and eligible to work in the investment industry.C. : Prohibition against Plagiarism Stand ard: Members shall not copy or use, in substantially the same form as the original, material prepared by another without acknowledging and identifying the name of the author, publisher, or source of such material. Members may use, without acknowledgment, factual information published by recognized financial and statistical reporting services or similar sources. ? ? Compliance: 1. Maintain copies of materials that were relied on in preparing the research report. 2.Attribute quotations (and projections, tables, statistics, models, and methodologies) used other than recognized financial and statistical reporting services. 3. Attribute paraphrases and summaries of material prepared by others. 2-III. : Standards of Professional Conduct: III. Relationships and Responsibilities to the Employer A. : Inform your Employer of the Code and Standards III(A. 1) Members shall inform their employer in writing, through their direct supervisor, that they are obligated to comply with the Code and Stan dards and are subject to disciplinary sanctions for violations thereof.III(A. 2) Members shall deliver a copy of the Code and Standards to their employer if the employer does not have a copy. Compliance: Members should notify their supervisor in writing of the Code and Standards and the member’s responsibility to follow them. The member should also suggest that the employers adopt the Code and Standards and disseminate it throughout the firm. If the employer has publicly acknowledged, in writing, that they have adopted AIMR’s Code and Standards as part of the firm’s policies then the member need not give the formal written notification as required by III(A).B. : Duty to Employer Standard: Members shall not undertake any independent practice that could result in compensation or other benefit in competition with their employer unless they obtain written consent from both their employer and the persons or entities for whom they undertake independent practice. ? ? C ompliance: 1. Members who plan to engage in independent practice for compensation should provide written statements to their employer describing the types of services they will perform, the expected duration of the services, and the compensation they will receive. . Members should also disclose to their prospective clients the identity of their employer, the fact that they are performing independently of the employer, and what their employer would charge for similar services. 3. Members seeking new employment should not contact existing clients or potential clients prior to leaving their employer or take records/files to their new employer without the written permission of the previous employer. C. Disclose Conflicts between you and your Employer III(C. 1): Members shall disclose to their employer all matters, including beneficial ownership of securities or other investments, that reasonably could be expected to interfere with their duty to their employer or ability to make unbiased and objective recommendations. III(C. 2): Members shall comply with any prohibitions on activities imposed by their employer if a conflict of interest exists.Compliance: Members should report to their employers any beneficial interest and any special relationships, like corporate directorships, that may reasonably be considered a conflict of interest with their responsibilities. Members should also discuss the situation with their firm’s compliance officer before taking any action that could lead to a conflict of interest. D. : Disclose Additional Compensation from Outside the Firm to your Employer Standard: Members shall disclose to their employer in writing all monetary ompensation or other benefits that they receive for their services that are in addition to compensation or benefits conferred by a member’s employer. Compliance: Members should make an immediate written report to their employer specifying any compensation or benefits they receive or propose to receiv e for services in addition to what their employer is to give them. This written report should state the terms of any oral or written agreement, the amount of compensation, and the duration of the agreement. E. : Responsibilities of SupervisorsStandard: Members with supervisory responsibilities, authority, or the ability to influence the conduct of others shall exercise reasonable supervision over those subject to their supervision or authority to prevent any violation of applicable statutes, regulation, or provisions of the Code and Standards. In so doing, members are entitled to rely on reasonable procedures designed to detect and prevent such violations. ? ? Compliance: The supervisor and the compliance officer should: 1. Disseminate the compliance procedures. 2. Update the procedures as necessary. 3. Educate the staff and issue periodic reminders. . Incorporate a professional conduct evaluation into the employee’s performance review. 5. Review employee actions to ensure co mpliance and identify violators, initiating procedures once a violation has occurred. A supervisor should respond promptly to the violation by conducting a thorough investigation, and placing limitations on the wrongdoer until the investigation is complete. 2-IV. : Standards of Professional Conduct: IV. Relationships with and Responsibilities to Clients and Prospects A. : The Investment Process IV(A. 1) Reasonable Basis and Representations. Members shall: a.Exercise diligence and thoroughness in making investment recommendations or in taking investment actions. b. Have a reasonable and adequate basis, supported by appropriate research and investigation, for such recommendations or actions. c. Make reasonable and diligent efforts to avoid any material misrepresentation in any research report or investment recommendation. d. Maintain appropriate records to support the reasonableness of such recommendations or actions. Compliance: 1. Analyze the investment’s basic characteristic s (records must show the characteristics of the investment and the basis for the recommendation). . Analyze the needs of the portfolio (includes the client’s needs, as well as the needs of the total portfolio). 3. Maintain files to support investment recommendations. [pic] IV(A. 2) Research Reports. Members shall: a. Use reasonable judgment regarding the inclusion or exclusion of relevant factors in research reports. b. Distinguish between facts and opinions in research reports. c. Indicate the basic characteristics of the investment involved when preparing for public distribution a research report that is not directly related to a specific portfolio or client.Compliance: Members should consider including the following information in research reports: 1. Expected annual rates of return, calculated on a total return basis. 2. Annual income expectations. 3. Current rate of return or yield. 4. The degree of uncertainty associated with the cash flows, and other risk factors. 5. T he investment’s marketability or liquidity. [pic] IV(A. 3) Independence and Objectivity. Members shall use reasonable care and judgment to achieve and maintain independence and objectivity in making investment recommendations or taking investment actions. Compliance: 1. Protect integrity of opinions.Reports should reflect the analyst’s unbiased opinion. 2. Disclose all corporate relationships (i. e. , directorships, underwriting arrangements or acting as a market maker). 3. Disclose personal holdings and beneficial ownerships. 4. Create a restricted list. 5. Restrict special cost arrangements. Members should pay for their commercial transportation and hotel charges. 6. Limit gifts (US$100 is the maximum acceptable value for a gift or gratuity). 7. Restrict investments (strict limits should be imposed on private placements). 8. Review procedures (supervise the personal investment activities of the employees).B. : Interactions with Clients and Prospects IV(B. 1) Fiduciar y Duties: In relationships with clients, members shall use particular care in determining applicable fiduciary duty and shall comply with such duty as to those persons and interests to whom the duty is owed. Members must act for the benefit of their clients and place their clients' interests before their own. Compliance: 1. Follow all applicable rules and laws. 2. Establish the investment objectives of the client. 3. Diversify. 4. Deal fairly with all clients with respect to investment actions. 5. Disclose all possible conflicts of interest. . Disclose compensation arrangements. 7. Preserve the confidentiality of client information. 8. Maintain loyalty to the plan beneficiaries. [pic] IV(B. 2) Portfolio Investment Recommendations and Actions: Members shall: a. Make a reasonable inquiry into a client's financial situation, investment experience, and investment objectives prior to making any investment recommendations and shall update this information as necessary, but no less frequen tly than annually, to allow the members to adjust their investment recommendations to reflect changed circumstances. b.Consider the appropriateness and suitability of investment recommendations or actions for each portfolio or client (including the needs and circumstances of the portfolio or client, the basic characteristics of the investment involved, and the basic characteristics of the total portfolio). c. Distinguish between facts and opinions in presenting recommendations. d. Disclose to clients and prospects the basic format and general principles of the investment processes by which securities are selected and portfolios are constructed and shall promptly disclose to clients and prospects any changes that might significantly affect those processes.Compliance: Know basic nature of your client; know objectives and constraints. [pic] IV(B. 3) Fair Dealing: Members shall deal fairly and objectively with all clients and prospects when disseminating investment recommendations, diss eminating material changes in prior investment recommendations, and taking investment action. Compliance: 1. Limit the number of people privy to recommendations and changes. 2. Shorten the time frame between initiation and dissemination. 3. Publish personnel guidelines for pre-dissemination. 4. Simultaneous dissemination. 5. Establish rules about employee trading activities. . Establish procedures for determining material changes. 7. Maintain a list of clients and their holdings. 8. Develop trade allocation procedures. 9. Make sure one account is not being used to bail out other accounts. 10. If the firm offers differing levels of service, this fact should be disclosed to all clients. [pic] IV(B. 4) Priority of Transactions: Clients and employers shall have priority over transactions in securities or other investments of which a member is the beneficial owner so that such personal transactions do not operate adversely to their clients' or employer's interests.If members make a recom mendation regarding the purchase or sale of a security or other investment, they shall give their clients and employer adequate opportunity to act on the recommendation before acting on their own behalf. Compliance: 1. Define personal transactions. 2. Define covered investments. 3. Limit the number of access persons. â€Å"Fire Walls† should be built to prevent the flow of information from one group or department to other groups within the firm. 4. Define prohibited transactions. The text specifically mentions equity based IPOs. . Establish reporting procedures and prior-clearance requirements. 6. Ensure that procedures will be enforced and establish disciplinary procedures. [pic] IV(B. 5) Preservation of Confidentiality: Members shall preserve the confidentiality of information communicated by clients, prospects, or employers concerning matters within the scope of the client-member, prospect-member, or employer-member relationship unless the member receives information conce rning illegal activities on the part of the client, prospect, or employer.Compliance: The simplest and most effective way to comply is to avoid discussing any information received from a client except to colleagues working on the same project. [pic] IV(B. 6) Prohibition against Misrepresentation: Members shall not make any statements, orally or in writing that misrepresent: a. the services that they or their firms are capable of performing. b. their qualifications or the qualifications of their firm. c. the member's academic or professional credentials.Members shall not make or imply, orally or in writing, any assurances or guarantees regarding any investment except to communicate accurate information regarding the terms of the investment instrument and the issuer's obligations under the instrument. Compliance: Firms can provide guidance to employees who make written or oral presentations to clients or prospects by providing a written list of the firm’s available services and a description of the firm’s qualifications. [pic] IV(B. ) Disclosure of Conflicts to Clients and Prospects: Members shall disclose to their clients and prospects all matters, including beneficial ownership of securities or other investments, that reasonably could be expected to impair the member's ability to make unbiased and objective recommendations. Compliance: Members should report to their employers, clients, and prospects any material beneficial interest they may have in securities, corporate directorships, or other special relationships they may have with the companies they are recommending.Members should make the disclosures before they make any recommendations or take any investment actions regarding these investments. [pic] IV(B. 8) Disclosure of Referral Fees: Members shall disclose to clients and prospects any consideration or benefit received by the member or delivered to others for the recommendation of any services to the client or prospect. Compliance: 1. Dis close all agreements in writing to any client or prospect who has been referred. 2. Describe in the disclosure the nature of the consideration and the estimated dollar value of the consideration. . Consult a supervisor and legal counsel concerning any prospective arrangement regarding referral fees. 2-V. : Standards of Professional Conduct: V. Relationships with and Responsibilities to the Investing Public A. : Prohibition against Use of Material Nonpublic Information Standard: Members who possess material nonpublic information related to the value of a security shall not trade or cause others to trade in that security if such trading would breach a duty or if the information was misappropriated or relates to a tender offer.If members receive material nonpublic information in confidence, they shall not breach that confidence by trading or causing others to trade in securities to which such information relates. Members shall make reasonable efforts to achieve public dissemination of material nonpublic information disclosed in breach of a duty. Compliance: Fire walls, minimum elements are: 1. Control over interdepartmental communications. 2. Review employee trading against restricted lists. 3. Restrict proprietary trading while the firm is in possession of material nonpublic information.Additional procedures: 1. Restrict personal and proprietary employee trading. 2. Place securities on a restricted list when the firm has material nonpublic information. 3. Disseminate material nonpublic information only to those with a need to know. 4. Designate a supervisor who decides when trading is appropriate. B. : Performance presentation Standard: 1. Members shall not make any statements, orally or in writing, that misrepresent the investment performance that they or their firms have accomplished or can reasonably be expected to achieve. 2.If members communicate individual or firm performance information directly or indirectly to clients or prospective clients, or in a man ner intended to be received by clients or prospective clients, members shall make every reasonable effort to assure that such performance information is a fair, accurate, and complete presentation of such performance. Compliance: Misrepresentation about the investment performance of the firm can be avoided if the member maintains data about the firm’s investment performance in written form. Investment accounts should be combined into composites by investment class and risk groups. : Standards of Practice Handbook a: Demonstrate a thorough knowledge of the Standards of Professional Conduct by recognizing and applying the Standards to specific situations. This is an application of many different ethics concepts to different scenarios. After having learned the ethics material in earlier learning outcomes you will be able to apply these concepts to various scenarios as you take the quizzes. b: Distinguish between conduct that conforms to the Code and the Standards and conduct tha t violates the Code and the Standards.This requires looking at different scenarios and possibly applying several ethics concepts to each scenario. After you learn and understand the ethics concepts you will be able to apply them to specific situations through the quizzes. 4: AIMR Performance Presentation Standards Handbook a: Explain the goals of the AIMR-PPS Standards. The Standards have been designed to meet the following goals: †¢ To achieve greater uniformity and comparability among performance presentations. †¢ To improve the service offered to investment management clients. †¢ To enhance the professionalism of the industry. To bolster the notion of self-regulation. Note: The Presentation Standards are intended primarily to be performance presentation standards, not performance measurement standards. Portions of the AIMR-PPS are required while some are recommended. AIMR strongly encourages the adoption of both required and recommended components of the Standards. Also, performance presentations may have to provide more than the minimum requirements of the AIMR-PPS to meet the full intent of the Standards. b: Identify the parties affected by the AIMR-PPS standards. Firms. The PPS Standards are voluntary. The PPS are widely recognized as fair and accurate reporting guidelines for investment performance. †¢ AIMR Members, CFA Charterholders, and CFA Candidates. The PPS are not explicitly incorporated into the AIMR Code and Standards of Professional Conduct. The PPS does, however, help insure that members, charterholders and candidates are in compliance with Standard V(B), Performance Presentation, so that they will make no material misrepresentation of their performance results. †¢ Prospective and Current Clients.The PPS helps clients compare investment performance across firms. The PPS helps clients evaluate their investment manager’s performance. c: Identify the four main topics of the AIMR-PPS standards (i. e. , creation and maintenance of composites, calculation of returns, presentation of results, and disclosures). †¢ Creation and maintenance of composites. A composite is a set of portfolios that follow the same investment style. †¢ Calculation of returns. †¢ Presentation of results. †¢ Disclosures. d: Identify what constitutes a valid claim of compliance with the AIMR-PPS standards.To claim compliance, firms must meet all composite, calculation, presentation, and disclosure requirements. Adherence to the basic requirements, however, does not guarantee fair and adequate performance reporting. Compliance with the standards also requires adherence to all applicable laws and regulations. If the firm has made every reasonable effort to ensure that their performance presentation is in compliance with the PPS, the firm can use the following legend:? XYZ Firm has prepared and presented this report in compliance with the Performance Presentation Standards of the Association for Investment Management and Research.AIMR has not been involved with the preparation or review of this report. †¢ Any use of the mark â€Å"AIMR† except as shown above is prohibited. †¢ If results are not in full compliance, performance cannot be presented as: Being in compliance with the AIMR-PPS except for †¦ †¢ Statements referring to the calculation methodology used in a presentation as being in accordance or compliance with AIMR-PPS standards are prohibited. †¢ AIMR members who misuse the term AIMR, AIMR-PPS standards, or the Compliance Statement are subject to disciplinary sanctions under Standard V(B).