Drama and audience Essay Example for Free

Drama and audience Essay Reverend Hales role in the play is to originally cure of find the illness of Betty. But instead he is described as stiring the witchcraft cauldron that is brewing in Salem Village. Arthur Miller uses words and phrases such as; narrowing his eyes, holding up his hands, surprised, quickly, grasping, rising exhilaration, kindly ect. This describes Reverend Hales character well, as he is a do-gooder within the village. Miller emphasises his importance, by making his character loud, expressive yet good hearted. He makes sure the audience is aware of Hales importance, by making him a figure to look up to, someone that people can see God in, and by making people confess to him he is showing the power he has. Parriss status within the community should be an example to others, but is slowly withering as the accusations of witchcraft within his village and family drag him down. The farmers Proctor, Putnam and Giles, are all below Parris in society. They are the main male characters in the play and because Parris is higher up in society, he remains the loneliest out of the four; this is significant as he knows he cannot cope with all the stress as a single parent and guardian, and a reverend Salem relies on. As previously written, Hale was confessed to by Tituba. She confessed to seeing Satin towards the end of Act 1. Her confession was dramatic and Miller emphasised this well by using language such as; weeps, sobbing in terror, falls to her knees, frightened, suddenly bursting out, in a fury ect. Influenced by the forgiveness given to Tituba, this is significant as she is setting an example and giving ideas to the girls. Abigail copies calling out accusations, as assumed and for example she shouts; I saw Sarah Good with the devil! ect. Scared and confused girls followed in Abigails actions and began calling out accusations as well. The girls soon figure that lying, pretending and accusing others, will take the limelight from them and they will soon be seen as victims and witnesses of Satin. In conclusion, Arthur Millers stage directions in the play, The Crucible, create drama and inform the audience about the nature of the society in Salem. He uses them effectively to create instant excitement and effect as well as defining the characters in detail. The characters are however Millers own creation and through his direction they add drama to the story. The language used in the play highlights the lack of communication in its simplicity and distances itself from the twenty first century. The people in Salem lived solely by their religion and were unable to accept anything that may defy their beliefs. It also showed the lies and deceit that people created to protect their own name and standing in society. Arthur Miller has managed to skilfully tell the story according to historic facts whilst adding his own portrayal of characters to attract audiences today.

Mentoring Nursing and Healthcare Students Essay examples -- Nursing Ed

The Nursing and Midwifery Council (NMC) defines the role of a mentor as a nurse with specific training who is able to facilitate learning, and supports and supervises students in a practice setting (NMC 2008). Mentorship plays an integral part in the next generation of practitioners and nursing professionals play a vital role in guiding a process that allows the transference of knowledge, skills and attributes from healthcare professionals to the students they are working with (English National Board and Department of Health 2001). This assignment will critically review the key issues for the preparation of an effective learning environment and appraise the opportunities and challenges experienced when facilitating learning in practice. It will analyse the mentors role and accountability within the assessment process, and the evaluation processes that develop student learning in practice. The environment in which this assignment is set is a thirty bedded Acute Medical Ward, within the Department of Medicine for older people in an NHS teaching hospital. A mentors role in this clinical setting involves providing both formal and informal learning opportunities in supporting students, newly qualified nurses and Healthcare support workers. A strengths weaknesses opportunities and threats (SWOT) analysis of the clinical setting ( appendix1) highlights the complexities of this learning environment. In recent years a great deal of emphasis has been placed on the clinical environment and its importance in the facilitation of learning, where students are most likely to be receptive to learning and nurses are able to combine the theory taught at university, with the practical skills required to become a competent practitioner. Pell... ...oyal College of Nursing (RCN) (2007) Guidance for mentors of nursing students and midwives, London: Royal College of Nursing Shakespeare, P. and Webb, C. (2008) 'Professional identity as a resource for talk: exploring the mentor-student relationship', Nursing Inquiry, 15 (4), pp 270-279 Sharples, K., Kelly, D. and Elcock, K. (2007) 'Supporting mentors in practice', Nursing Standard, 21 (39), pp 44-47 Spouse, J. (2008) 'Learning through legitimate peripheral participation', Nurse Education Today, 18 (5), pp 345-351 Tetheridge, J. (2010) 'Interviewing student and qualified nurses to find out what makes an effective mentor', Nursing Times, 106 (48), pp 19 – 21 Timmins, F. and Kaliszer, M. (2002) 'Aspects of nurse education programmes that frequently cause stress to nursing students – fact finding sample survey', Nurse Education Today, 22, pp 203-211

Compensation and Benefits Recommendations Essay

No matter the size of the business, there is a need to evaluate an individual business’ compensations and Benefits. Each business will be unique; rarely will two businesses have the same benefits. These benefits will show employees, and future employees, what it is worth to work for the company. In this recommendation, it will outline various parts of the compensation and identify the pay act that this package will follow. Market Evaluation Creating attractive compensation package is a difficult task when entering new markets. After reviewing the benefits and compensation for Turner Construction Company, Ames Construction, Inc., and DPR Construction which are located in Arizona, the companies have these benefits in common: Medical, Dental, Retirement/Pension/401K plan. Turner Construction Company does offer more such as vision insurance, health club reimbursement, life insurance, accidental death and dismemberment, short term disability, long term disability, tuition reimbursement program, and professional certifications and licenses (Turner Construction, 2014). The compensation package offered by DPR Construction includes additional benefits like vision insurance, adoption assistance, personal time off, holidays & holiday shutdown, Flexible Spending Accounts, and Critical Illness Insurance. DPR construction has noted that employees must be non-union and full time employees to receive the full benefits package, but part time employees are eligible for medical, dental, and vision coverage (DPR Construction, 2014). The compensation package offered by Ames Construction, Inc. does not include extra benefits that Turner Construction and DPR Construction offer (Ames Construction, Inc., 2014). With the information provided, an attractive compensation and benefit package that is tailored to the area can be created for your employees in Arizona. Recommended compensation structure As commercial construction organization entering a new market you will need  to have a compensation structure that is comparable or higher to others in the area. When entering a new market, it will be essential to offer a structure that attracts experienced employees that will provide creditability to the new market. It will be essential to have these people in place and show your customers that your organization is committed to being their primary choice for new projects. When determining a compensation plan there are steps that should be considered. The first step is to determine what type of pay structure you are going to use. For your business a pay grade system is the best option. This type of system allows for your organization to compensate employees based on their years of experience and knowledge of the field (Martocchio 2011). The next step is determining the market baseline for the positions. In Arizona, a commercial foreman (salary/exempt) earns about $35,000-$92,000 per year, an estimator/project (salary/exempt) manager receives about $32,000 – $98,00 per year, and a general laborer (hourly/nonexempt) receives about $8.71-20.55 per hour (â€Å"May 2013 State Occupational Employment And Wage Estimates Arizona†, 2014). The next step is to identify pay grades. This will allow an employee with more experience to receive more income. Below are examples of the three positions listed above: Foreman I – 0-5 years’ experience as a foreman for a commercial construction. Foreman II – 6-10 years’ experience. Foreman III – 10+ years’ experience. Project Manager I – 0-2 years’ experience, bachelor’s degree, no project management (PMI) certificate. Project Manager II – 3-5 years’ experience, bachelor’s degree in project management, PMI certificate. Project Manager III – 6+ years’ experience, experienced interaction with customers, PMI certificate and a bachelor’s or higher degree in project management. General Laborer I – 0-3 years’ experience, high school diploma or GED and basic commercial construction knowledge. General Laborer II – 4-9 years’ experience, high school diploma or higher, advanced knowledge. General Laborers III – 10+ years’ experience, high school diploma or higher, expert knowledge. The next step will be establishing the pay ranges for the positions. The recommended pay structure is as followed: Foreman I – $35,000 – $42,000 Foreman II – $42,000 – 57,000 Foreman III – $57,000 – $95,000 Project Manager I – $32,000 – $50,000 Project Manager II – $50,000 – $75,000 Project Manager III – $75,000 – $100,000 General Laborer I – $8.75 – $12.00 General Laborer II – $12.00 – $17.00 General Laborers III – $17.00 – $20.50 The last step, which will be an ongoing step, is to evaluate the pay structure. As an organization you will need to determine if the pay scale matches the talent you are hiring and if adjustments need to be made. Another adjustment that may need to be made is include minimum wage for general laborers. Recommend a position on the Market There are three positions that are recommended to position the company in the market. Management must decide which strategy will best fit the goals of the organization. To lead the market in compensation will be costly. The advantage to leading the market is the company will likely get top talent for the pay. This is unless the top talent is already gainfully employed, then the company may get mediocre talent for top pay. Another possibility is to position the company at the bottom of the market, or to lag in the market. This is not a very attractive employment tactic; however there is a plethora of benefits that can be added to the package that would be more attractive to those that do not consider money the primary reason for joining an organization. The recommended strategy for the organization is to be somewhere in between the high and the low. It is feasible to match the competition in salaries but to offer a package of incentives that will distinguish the company from the other competitors. Some of the ideas management might consider are paid time off from work to include holidays, vacation days, personal days, sick days, and paternity or maternity leave (Heathfield, 2014). Another benefit could be comprehensive dental insurance, many companies are forced to offer medical insurance but dental insurance could be a great selling point to attract potential employees. Perhaps the most important to some people will be investment. The company should  consider establishing a retirement plan or 401(k) for employees. This helps in recruiting employees but also increases the opportunity to maintain employees. There are other incentives that can be offered at the discretion of management. Little incentives like day care, a pumping room for new mothers, and incentives for going to college can make the company more attractive than other similar companies with similar salaries for employees. Total compensation and benefits strategy In today’s economy it is important for a company to have a total compensations and benefits package. The new Obama care guidelines state that everyone must have health insurance. Providing this to your employees will help to relieve some of the financial burden associated with health insurance. Other reasons to offer health insurance according to the Center of Disease Control are healthier people are less likely to take time off of work and are more productive while at work (â€Å"Workplace Health Promotion†, 2014). Other health benefits include dental, vision insurance, and health-club reimbursement. Flexible spending, life insurance, short and long term disability are other benefits that are recommended for employees. Tuition Reimbursement is a great way to show your employees that you are committed to their future and rewarding them for obtaining a higher education. This can also include professional certificates. An employee referral program is a great way to reward employees for their referrals and obtain new applicants. Performance Incentives and Merit Pay As with other business transactions, incentive programs need to be managed with a clear definition with planning, setting goals, assigning responsibility, defining objectives and managing the implementation. A well-executed incentive program will justify its cost through reduction in injury costs, reduced time away from work, and slowing the rate of increase in insurance costs (Hislop, R. D., 1993). Incentive programs need to focus on program elements relative to the industry. Safe work habits and the reduction of absenteeism shall be the focus of these incentives. Define the criteria: What is to be accomplished in order to earn the award The recognition to be offered Establish who qualifies for the awards; (individuals, teams, contractors) Provide a definitive time line Evaluate the risks that are present In order to encourage sense of ownership, urge employees to help manage and control their workplace. Incorporate a sound safety program including not only the safety training but regular toolbox talks (Hislop, R. D., 1993). An offer of $.50-per-hour bonus to each work-crew if the entire crew is present throughout an entire pay period has been an effective tool for one Houston based construction firm (Hislop, R. D., 1993). The additional labor costs are moderate in comparison to the costs associated with hiring, training and injury expenses incurred when laborers are injured or present a high absentee rate. Establishing the incentive as one centered on absenteeism than injury related will curb the possibility of workers not reporting injury in order to achieve bonus and will encourage presence on the site thereby alleviating unnecessary absenteeism. Injuries happen often when a full crew is not present on the jobsite and with the incentive pay; every crew has the opportunity for the b onus. Relating Law With this package, the main focus will be towards the Equal Pay Act. This Act is set forth that requires men and women receive equal pay for equal work in the same establishment (USA.gov, 2014). There is room for differences in pay based upon seniority, merit, or even quality of production. If you find your business in a situation where this act is being violated, you are not allowed to lower the higher paid employee, but you must raise the lower paid employee. When evaluating specific benefits compensation, all aspects need to be considered when attempting to move into a new market. Comparison with current competitors is a wise decision to determine where a new company should choose which benefits. Careful planning will greatly assist the business in setting up as a successful company in the new market. References Ames Construction, Inc. (2014). Benefit Package. Retrieved from http://www.amesconstruction.com/benefit-package.cfm DPR Construction. (2014). Benefits. Retrieved from http://www.dpr.com/company/careers/working-at-dpr/benefits#holidayshutdown Turner Construction. (2014). Benefits, Compensation and Rewards. Retrieved from http://www.turnerconstruction.com/careers/life-at-turner/benefits Heathfield, S. M. (2014). What’s in a comprehensive employee benefits package? About.com Human Resources. Retrieved from http://humanresources.about.com/od/compensation-structure/tp/employee-benefits-package.htm Hislop, R. D. (1993). Developing a safety incentive program. Professional Safety, 38(4), 20. Retrieved from http://search.proquest.com/docview/200382925?accountid=458 Cost Estimators. (2014). Retrieved from http://www.bls.gov/ooh/business-and- financial/cost-estimators.htm May 2013. State Occupational Employment and Wage Estimates Arizona. (2014). Retrieved from http://www.bls.gov/oes/current/oes_az.htm Martocchio, Joseph J. (2011). Strategic compensation: a human resource management approach. (6th ed.). Boston: Prentice Hall Equal Pay/Compensation Discrimination. (2014). USA.Gov. Retrieved from http://www.eeoc.gov/laws/types/equalcompensation.cfm

Essay about The Battle of Dunkirk A Tactical Defeat

The Battle of Dunkirk happened in Northern France between May 26 and June 4 1940 and was a major battle of the Second World War which occurred between 1939-1945. The Second World War was very different to the first with rapid movement covering huge amounts of land in very little time. This was due to the German Army’s speed which used â€Å"Blitzkrieg† or â€Å"Lightning war† tactics. Prior to the invasion of France there had been 7 months of â€Å"Phoney war†; However the French had anticipated the attack and established â€Å"The Maginot line† which was a line of defence designed to hold the German army back. Despite this the Battle of France began on the 10th May 1940 when German Army group B subdued Holland and advanced rapidly westwards through†¦show more content†¦Despite its acclaim as a victory for the British Public it is regarded widely amongst historians as a decisive German victory the loss of men, munitions and vehicles was still greatly affecting Britain in the North Africa campaign some two years later. Many people hold the belief that Dunkirk was a miracle as the troops were facing almost certain annihilation trapped between the enemy and miles of sea. However over 300,000 troops were successfully rescued and evacuated back to Britain. Source 2 is a valid source as it is a textbook extract with accurate statistics from a reliable source. The Source tells of the many positive aspects of the Battle of Dunkirk; including, the number of troops, heavy guns and vehicles successfully evacuated. As well as the effects of the Battle on affairs such as politics and the British public’s view of the armed forces. The source is taken from a school history textbook called Essential Modern World History published in 2003; and written by Ben Walsh. The purpose of this source is to educate students so the information will be accurate. A negative aspect of this source is that it is written from a British perspective and does not highlight the heavy and costly losses suffered during the battle. Source 3 is a valid source as it is a newspaper front page that comes from the time of the Battle and offers the British perspective of the Battle. Once again this source drawsShow MoreRelatedHitler As A Military Leader Essay2288 Words   |  10 PagesDid Adolf Hitler’s arrogance cost him the war? During World War II, Hitler thought himself a military and tactical genius. However, he still lost the war. Adolf Hitler, the leader of Nazi Germany, wanted to conquer the world and create an empire. He planned to purge the world of anyone he deemed inferior. Those he deemed inferior included Jews, Gypsies, Slavs, African-Americans. and anyone with special needs. He, along with his superior Aryan race, would rule the world. Aryans, were Nordic in appearanceRead MoreThe Battle of Britain Essays1805 Words   |  8 PagesThe Battle of Britain By June 1940, France had surrendered to Germany and Britain had rescued approximately 330,000 men from the beaches of Dunkirk. Britain now stood alone with its empire against Germany. Hitler believed that Britain had to be defeated before he could turn his attention to the USSR and so in the invasion of Britain codenamed Operation Sealion, two German armies (totalling 100,000 men) would be transported across the English Channel. However this crossingRead MoreHitler s Impact On The Battle Of France1531 Words   |  7 Pages Hitler’s Impact on the Battle of France The Battle of France, also known as the Fall of France, was the German invasion of France in 1940 during World War II. The German forces defeated the Allied forces by mobile operations and conquered France, Belgium, Luxembourg and the Netherlands, bringing land operations on the Western Front to an end which would last until 6 June 1944. Hitler’s goal was to invade the Soviet Union, but he knew he must first defeat the Western European nations toRead MoreWhy Germany Lost the World War Two946 Words   |  4 PagesVersailles Germany attacked Poland. From 1939 to 1941 Germany had won many victories; however 1941 was a turning point in the war. By the end of 1941 Germany would continuously lose land to the allies with the exception of the Battle of the Bulge. 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Richard Overy states in Why the AlliesRead MoreThe Battle of Britain Essay5809 Words   |  24 PagesThe Battle of Britain As the cold hand of death swept over the remnants of France, British Prime Minister, Winston Churchill, orated on the imminent battle that would rage over his homeland and the foreboding struggle for survival that was now facing Britain: The Battle of France is over. I expect that the Battle of Britain is about to begin†¦ The whole fury and might of the enemy must very soon be turned on us. Hitler knows that he will have to break us in this island or lose the war. If we canRead More D-day Essay3345 Words   |  14 PagesFrance had promised to defend Poland. But they were unprepared to fight, and as a result they were terribly beaten. by the next spring, France had fallen into German hands. The British army had to flee the Continent and escaped from the French port of Dunkirk with frightful losses. In the summer of 1940 the Germans, with their allies, the Italians, controlled all of western Europe. The German air force began its attempt to bomb the British Isles into rubble. Nevertheless, the British began to think aboutRead MoreHitler s A Study Of Tyranny5435 Words   |  22 Pagesworld. He saw Jews, Gypsies, and the handicapped as a threat to the purity of what he called the â€Å"master race,† the Ger man people. In addition for blaming the Jews with the spread Communism throughout Europe, Hitler also blamed the Jews for Germany’s defeat in World War I and for its economic problems. Without Hitler’s leadership his incarceration, the Nazi party collapsed through internal discord. Upon his release, Hitler faced difficulties in gaining support for the Nazi’s that had not occurred beforeRead MoreD-Day/Battle of Normandy4950 Words   |  20 Pagesbetween the British Commonwealth and the United States was often beset with disagreement over the correct strategy to insure the final defeat of the Axis powers. Early on, both British and American staffs could agree that Germany represented a greater military threat than Japan, but they did not often see eye to eye on the strategy that would most efficiently defeat the Reich. The Americans were early and persistent advocates of a direct strategy - a cross-Channel attack that would first destroy

The injustice Within Tess of the D’Urbervilles and in...

The injustice within Tess of the D’Urbervilles (1881) and Robert Frost’s poetry is unjustified and causes major suffering to those illustrated in both the novel and the poetry. Numerous variations of injustice are portrayed within these works such as; social injustice, religious injustice and moral injustice. These injustices often combine together to form an upsurge of ill-treatment within the characters’ lives. Furthermore, Frost’s poems often address heavy topic matters such as suicide, child morality and human morality. Harriet Monroe supports this argument by stating ‘Such art passes local boundaries as lightly as an aeroplane and swings out into wider circles of space and time.’(Monroe: 1924:149). Hardy’s ‘Tess’ addresses problems†¦show more content†¦This acceptance of her fate is contrasted by her Joan Durbeyfield’s anger at her daughters folly â€Å"You ought to have been more careful if you didnt mean to get him to make you his wife!(pp.72). Joan shows a complete lack of regard for Tess’s emotions and the awful ordeal she has been through. Furthermore, the subjective personal pronoun ‘You’ is highly accusing, showing that if even her own Mother blames her for the seduction/rape, society most certainly will. Harold Baker, however questions the nature of Tess’s injustice by asking ‘Is her sexual experience the turning point in her life, as the title suggests? Though it is clearly a crucial event, what actually happened is unclear. Was she raped or seduced?’ (Baker: 2005) Thus, from here it can be questioned to whether her injustice is due to social laws, moral codes or religious constrictions. Morally, it is unfeasible to deny that a rape would not cause psychological damage. However, if Tess’s was seduced and her injustice is dominated by the fact that she broke a religious code, how tangible is her injustice. Surely it depends o n how a person deals with its consequences? Therefore it could be argued that Tess herself is the maker of her own downfall. However, and opposing view could be that Tess is a victim of the manipulation brought to her by her lovers and family and her constant alienation from groups. Likewise, Frost deploys injustice in his poems. Injustice is shown by the cruelty of

Should Immigration Be Recognized - 1612 Words

Intro: We didn’t raise the Statue of Liberty with her back to the world, we did it with her light shining as a beacon to the world. And whether we were Irish or Italians or Germans crossing the Atlantic, or Japanese or Chinese crossing the Pacific; whether we crossed the Rio Grande or flew here from all over the world — generations of immigrants have made this country into what it is. It’s what makes us special. Quote by Obama . 42.1 million. Is the number of people migrated to America from their homeland. People see as America as a big welcome hug to immigrants or a open hand that foreigners leaving there country for many reasons. But the question some people in the U.S ask their selves should immigration ought to be recognized? Definitions: †¢ Immigration- the action of coming to live permanently in a foreign country †¢ Ought – used to express duty or moral obligation †¢ Recognized- identify someone for something from having encountered them before; know again †¢ Human rights- fundamental rights, especially those believed to belong to an individual and in whose exercise a government may not interfere, as the rights to speak, associate, work, Value and criterion- human dignity the value of this case is and the criterion would be recognizing immigration as a human right, will let anyone coming to America as long they follow the law and due what a good citizen of the United States will do. Contention 1: if we don’t recognize immigration as a human right then we’re notShow MoreRelatedAmeric The Land Of The Free1707 Words   |  7 Pageschoice but to flee. But not everyone was as lucky as they were. Many people believe that America is the best place to start over because they are guaranteed more freedom, benefits, and protection, just as did my parents. What’s your opinion on immigration? Many people look down upon immigrates, it’s making the daily headlines due to the debates that politicians have argued. Some politicians believe that the immigrants will drive the economy down. While some believe that America is built because ofRead MoreEssay on Guarding the Golden Door1551 Words   |  7 PagesAmerican immigration history is the story of bonded, free, and enslaved migrant labor. Immigration to a settler society advances resource extraction and economic development. Extracting agricultural products and natural resources from land can Require forced labor. Over the last 30 years the United States has been turning once again into a nation of immigrants. Roger Daniels is especially sensitive to the role of race and ethnicity in shaping American immigration policy. 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Although border patrol is a need for any nation, their extensive acceptations to constitutional laws can often be taken advantage of. The mission of the U.S. border patrol should be to prevent illegal aliensRead MoreSame Sex Marriage Is A Fundamental Right870 Words   |  4 Pagessame-sex divorce was filed for in New Orleans, Louisiana. Logically, same-sex divorce should not differ for same-sex couples as the divorcing couple must go through the same steps as a heterosexual couple. The hurdle here is that many states that previously did not acknowledge same-sex marriage, must now learn how to marry and divorce same-sex couples. This should not cause much trouble since same-sex marriage is recognized amongst all-states, making it even easier for same-sex couple’s to get divorcedRe ad MoreCanada Is A Multiculturalism Country1070 Words   |  5 PagesCanadian history of multiculturalism has started with xenophobic approach to immigrants. In the beginning of 20th century, immigrants could not be recognized as a Canadians in any case, because only white British population had a right to be treated as Canadians. So I will argue that the multiculturalism status of Canada with contradictory immigration policies. I will use the primary source Rainbow War, 1986. This video is a short movie was created by 1986 Vancouver EXPO. It talked a story aboutRead MoreExamples Of Problems In America969 Words   |  4 Pagesof lives globally Why UN Sanctions On North Korea Arent Working, According To Experts, illegal immigration is also a problem that threatens U.S. cities financially, also protesting that is legal until riots and burning of buildings occur then it becomes illegal and becomes a huge crisis in the United States. The North Korean Nuclear Program and its de escalating problems, illegality of immigration, and protesting and it’s effect on cities are only some problems American’s are facing today. NorthRead Moreâ€Å"Remember, remember always, that all of us, and you and I especially, are descended from immigrants700 Words   |  3 PagesSurely more problem resurface about immigrants, Immigrants are people who come to live permanently in a foreign country and immigration means the same but it’s the action of coming to live permanently in a foreign country. The American Dream is defined as the traditional social ideals of the US, such as equality, democracy, and material prosperity. A citizen is a legally recognized subject, either native or naturalized. Noncitizen means the exact opposite of a citizen which is a person who is not anRead MoreThe Need for Immigration Reform1193 Words   |  5 PagesAmerica. Millions of â€Å"Dreamers† are fighting to be recognized as American citizens. In recent months and years, the debate on immigration reform has been heated and often uninformed. Every president mentions in his speech to take action on immigration reform. 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Final Exam †Financial Institution Free Essays

Financial Insitutions Closed book, Closed Notes 1. Final Examination Fall 2011 Roger Staiger III What is the difference between the spot market and the futures market In the spot market, trades are executed immediately, i. e. We will write a custom essay sample on Final Exam – Financial Institution or any similar topic only for you Order Now real time. In the futures markets, which is a derivatives market, trades are agreed upon today but settled lat later dates in the future. 2. What is the main difference between the money markets and capital markets? Money markets are for short-term security exchanges, i. e. less than 270 days. The capital markets are for long-term security exchanges, i. e. greater than one year. 3. What are four requirements to transfer capital within an efficient market? a. b. c. d. e. f. Stable Government Low Inflation Savings (personal, corporate, fiscal) Competition Disclosure (transparency) Fair market rules (legal system) 4. Draw the difference between direct and indirect capital formation process. Business Securities Dollars Savers Business 5. Financial Intermed. Savers Describe the purpose of an investment banking house. a. Design Sellable Securities b. Buy securities from corporations c. Resell to ‘savers’ (broker transactions) 6. Name two sources of funds for Financial Intermediaries. . Deposits (lenders, credit unions, pension funds) b. Premiums (life insurance) c. Share issuance (mutual funds) Name four main roles for depository institutions. a. Offer deposit accounts 7. All problems equally weighted Page 1 of 7 Financial Insitutions Closed book, Closed Notes b. c. d. e. 8. Final Examination Fall 2011 Roger Staiger III Repackage (warehouse) deposit acco unts Underwrite risk on loans â€Å"Expertise† in quantifying creditworthiness Provide diversification for placed loans What are the unique characteristics for a credit union separating it from other depository institutions? . b. c. d. Not for profit All business restricted to members All members share a common bond (geography, employer) Small (relatively) depository institution 9. Name two of the securities found in the Money Markets. a. Treasuries b. Commercial Paper 10. Name two of the securities found in the Capital Markets. a. b. c. d. Fixed income securities Mortgages Securitized products Equity 11. Define â€Å"Derivative†. An asset for which the value is derived from an underlying asset. 12. A wife purchases insurance on her husband (the marriage is loving). What type of â€Å"trader† is the wife? A â€Å"hedger† as the wife is not purchasing the instrument to profit from the loss of her husband but to provide financial security should the husband expire. The strategy is loss-minimization and therefore a hedge. 13. Name two large risks when investing abroad. a. Country Risk b. Foreign Exchange Risk c. Interest Rate Risk Note: BC could be considered parallel due to interest rate parity. All problems equally weighted Page 2 of 7 Financial Insitutions Closed book, Closed Notes 14. Final Examination Fall 2011 Roger Staiger III What is considered the leading Federal District Bank? New York Federal Reserve 15. Name three operations performed by Federal District Banks. a. b. c. d. e. Clear Checks Replace old currency Provide loans through discount window) Collect economic data Research 16. How many district banks are there in the Federal Reserve system? 12 17. Name five sources of data used by the FOMC. a. b. c. d. e. f. g. h. i. j. k. l. m. Wages Consumer prices Unemployment GDP Business inventories Foreign Exchange Rates Interest Rates Financial Market Conditions Production Levels Business Investment Residential Construction International Trade International Economic Growth 18. Why does the Federal Reserve perform Open Market Operations? a. Increase/decrease level of funds in market b. Offset impact of other conditions that affect level of funds, e. g. holiday traffic 19. Why is the reserve requirement ratio important? Represents the proportion of deposits that must be held as reserves for a financial institution. It is one of the determinants of the money supply. 20. What are the two rates that the Federal Reserve sets? a. Federal Funds Rate b. Discount Rate All problems equally weighted Page 3 of 7 Financial Insitutions Closed book, Closed Notes 21. Final Examination Fall 2011 Roger Staiger III What are the four components of GDP? GDP = Consumption + Investment + Government Spending + Net Exports 22. What are the goals of the Federal Reserve? a. Control inflation (price stability) at 2. 00% b. Promote Growth 23. What are the goals of the ECB? a. Control inflation (price stability) at 2. 00% 24. What are the relative sizes of each asset class in the U. S.? Fixed Income ($32,000bn) Real Estate ($20,000bn) Equities ($18,000bn) Note: In 2006, Real Estate was the largest asset class but has suffered from over $10,000bn in losses over the current financial crisis and still losing†¦ 25. What is LIBOR? London Interbank Offering Rate: Rate that 16 large global commercial banks lend 10 different currencies at 15 different maturities to each other in the overnight market. 26. The world is safe and growth permeates most economies. Explain what this means for the borrowing rate for the US government using a Supply/Demand curve and cash flow diagram for Treasuries. Price S P0 P1 D Quantity P As price decreasing, yield increases, i. e. it costs more for the U. S. government to borrow. All problems equally weighted Page 4 of 7 Financial Insitutions Closed book, Closed Notes 27. Final Examination Fall 2011 Roger Staiger III Draw the cash flow diagram for a zero coupon bond. 28. What are three methods that a financial institution uses to manage interest rate risk? a. b. c. d. e. Maturity matching Using floating-rate loans Using interest rate futures contracts Using interest rate swaps Using interest rate caps 29. Why do financial institutions sell their own underwritten loans? a. b. c. d. Maintain services (fee based income) Sell asset (earn positive spread) Sell asset (negative spread but significantly reduced risk exposure) Turnover of capital 30. What are the three main banking regulators in the U. S.? a. Comptroller of Currency b. Federal Deposit Insurance Corporation (FDIC) c. Federal Reserve 31. What is the current insurance limit by account offered to private investors by the FDIC? $250,000 32. What was important about Glass-Steagall? a. Separated banking and securities activities b. Prevented any firm that accepted deposits from underwriting stocks and bonds of corporation c. Intended to prevent conflicts of interest 33. What important about Gramm-Leach-Bliley Act a. Repealed Glass-Steagall b. Allowed affiliation between banks, securities firms, and insurance companies 34. What was most important about Sarbanes-Oxley (SOX)? All problems equally weighted Page 5 of 7 Financial Insitutions Closed book, Closed Notes a. b. c. d. 35. Final Examination Fall 2011 Roger Staiger III Increased transparency of reporting Internal reporting processes required Central database of information required Executives personally verifying (signing) financial statements What was Basel? Basel I Accord 1988: 12 major countries agreed on uniform capital standards Tier 1 and Tier 2 Capital adequacy Basel II: Revision of the measurement of credit risk; explicitly account for operational risk; requires more disclosure about exposure risk Basel III: Global regulatory standards for capital adequacy and risk. Fully phased in by 2019. 36. What are CAMELs Ratings? Rating system for banks: Capital Adequacy Asset Quality Management Earnings Liquidity Sensitivity 37. What is Value-at-Risk? Risk measure that quantifies size of risk to a given confidence level over a finite period of time. 38. What is important about Dodd-Frank? Unlike SOX, it includes large private entities under the veil of regulation, e. g. hedge funds, that pose systemic risk. Also intended to add transparency and force OTC products to trade across exchanges for greater transparency. Potentially disconnected motivations of employees and corporations for reporting fraud, i. . employees (possibly former) share in a portion of an SEC fine recovered. (note: Dodd-Frank is 2319 pages so many answers will be given full credit. The above are important highlights, but again, there is a breadth of correct answers for this question) 39. Who is the current Federal Reserve Chairperson? Ben Bernanke 40. Who is the current Treasurer AND Jo hns Hopkins University Graduate? All problems equally weighted Page 6 of 7 Financial Insitutions Closed book, Closed Notes Tim Geithner Final Examination Fall 2011 Roger Staiger III All problems equally weighted Page 7 of 7 How to cite Final Exam – Financial Institution, Papers