...Mock Exam MNA106 1(a). What are the key functions of a financial system? [8 marks] The main functions of financial systems are to: • provide the mechanisms by which funds can be transferred from units in surplus to units with a shortage of funds in order to directly or indirectly facilitate lending and borrowing • enable wealth holders to adjust the composition of their portfolios • provide payment mechanisms • provide mechanisms for risk transfer 1(b) Describe the key functions of financial markets. [6 marks] PRICING FUNCTION: financial markets provide both buyers and sellers with “fair” valuation of the asset they are buying/selling DISCIPLINE FUNCTION: financial markets are regulated – regulation encourages issuers of securities (borrowers) not to engage in activities that the market deems detrimental to the value of their assets 1(c) Describe the problems arising due to information asymmetry. [12 marks] Adverse selection is the problem created by asymmetric information before the transaction occurs. It arises when the potential borrowers who are most likely to produce an undesirable (adverse) outcome are the ones who most actively seek out loans. Thus adverse selection increases the probability that bad credit risks will get loans. As a consequence, lenders may decide not to give any loans, even to good credit risks. Moral hazard is the problem that occurs after the transaction is made. It is the risk (hazard) that the borrower will engage in activities...
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...FINA 6282 Economics for Finance Practice Mock Examination Chinese University of Hong Kong Please write your name and student number (If you don't have a student number yet, please put your application number) on the booklet. Please answer all of the following questions. The full mark for exam is 100. Please present the definitions, theorems and steps of the proofs clearly. Please make sure that people can read your handwriting. You will have THREE hours for the exam. 1 Consider the following game between two firms, Sony and Toshiba. Toshiba Invest Heavily 0, 0 1, 3 Sony Invest Heavily Slacken Slacken 3, 1 2, 2 a) Find the pure-strategy Nash equilibrium or equilibria. b) Compute the mixed-strategy Nash equilibrium. As part of your answer, draw the best-response function diagram for the mixed strategies. c) Suppose the game is played sequentially, with Sony moving first. What are Toshiba's contingent strategies? Write down the normal and extensive forms for the sequential version of the game. d) Using the normal form for the sequential version of the game, solve for the Nash Equilibria. e) Identify the proper subgames in the extensive form for the sequential version of the game. Use backward induction to solve for the subgame-perfect equilibrium. Explain why other Nash equilibria of the sequential game are "unreasonable". (Nicholas and Synder Ch5, Q5.7) 2 Consider the following Bertrand competition model with differentiated products. Let the demand curves...
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...Contracts Exam Question (with sample answers) Question 1 H. Bigbus (B hereafter) operates a construction supply business in Harrisburg. B specializes in supplying difficult-to-locate plumbing and light fixtures for contractors who do remodeling work. B sent the following letter to five contractors in the Harrisburg region: OFFER TO THE TRADE We have cornered the market for a source of brass "Orient Express" wall hanging light fixtures. We know (and we're sure that you do, too) that these fixtures are in such great demand that they are nearly impossible to obtain. If you are willing to take all your needs from us, we'll guarantee delivery at $20.00 each. I. M. Sap (S hereafter), a contractor who remodeled about twenty houses per year, received one of B's letters. S was interested in the lamps, so when he was near B's place of business, he stopped in and asked B the quantity of lamps available. B replied that he had a large quantity of lamps in his warehouse. On the following day, B sent a messenger to S’s place of business with a letter that provided as follows: Dear S: I can give you ten percent off the quoted price if you will agree right away to my proposal by picking up lamps. What do you say? Do we have a deal? S did not respond. However, on the following day, S was present at the building site of X, another contractor, when a large load of the "Orient Express" brass lamps that X had ordered from B arrived. There at X's job site S saw the lamps for the first time, and realized...
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...University 01/2010 – Present Director Assistant, Canadian Chamber of Commerce in Shanghai 06/2009 – 08/2009 • Designed 2010 Expo Guide for Canadians in Shanghai. • Coordinated events on Canada’s Day and assisted Administrative Director with related projects • Located and entered data into several databases; made phone calls, and ensured timely mail processing. • Assisted administrative team members with clerical function. Dining Service Associate, University of Minnesota – Twin Cities 09/2009 – 12/2009 • Maintained inventory of standard dining service supplies and assists manager coordinate attendants. Member, Actuarial Club in University of Minnesota – Twin Cities 01/2009 – 12/2009 • Arranged the preparation of Casualty Actuarial Society (CAS) exam Volunteer, Students Today Leaders Forever 03/2009 – 12/2009 • Assisted the donation of food to Minnesotans at risk of hunger. Volunteer, in school for the Mute and the Deaf in Zhoushan, Zhejiang Province 2006 – 2009 • Taught disabled students Mandarin. Policy-analyst, Model United Nation in Shanghai K.J. Senior High School 2006 – 2008 • Analyzed UN policies for Model UN conferences HONORS/ AWARDS Honor Program, Awarded by Associate Dean of University of Minnesota – Twin Cities Global Excellent Scholarship, Awarded by University of Minnesota – Twin Cities Dean's List, Awarded by University of Minnesota – Twin Cities st th 1 prize, World 20 Odyssey of Mind Competition in China Area 09/2008 – 12/2009 09/2008 – 12/2009 Fall 2008, Fall 2009...
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...BLAW 2210 Term Paper Career Preparation My top two career choices are corporate financial analysis in investment banking and actuary. I will be discussing the legal environment of my career choices, taxing authorities, entity structure, graduate school in order to obtain certain license, self-assessment of my chosen careers. First, I will discuss how I can work as a corporate financial analysis in investment banking. After that, I will talk about what I need prepare to be an actuary. 1.corporate financial planning and analysis The responsibility of a corporate financial planing and analysis is to support management planning and decision making by identifying, maintaining, and evaluating information,as well as recommending actions. * Legal environment * Entity structure Investment banking is concerned with the primary function of assisting the capital market in its function of capital market intermediation, i.e. the movement of financial resources from those who have them means investors, to those who need to make use of them means issuer for generating profit. Therefore, it can be inferred that investment banks are those institutions that are the counterparts of banks in the capital market in the function of intermediation in resources allocation. Investment banks carried on carious activities it helps companies and governments and their agencies to raise money by issuing and selling securities in the primary market. They assist public and private corporations...
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...the Woods conveys a sarcastic tone and imagery to address the idea of “why do so many people no longer consider the physical world worth watching?” He also ponders, “Why do so many Americans say they want their children to watch less TV, yet continue to expand the opportunities for them to watch it?” Louv visualizes explaining the nineteenth century to a younger generation and how they will not understand what they hear. Louv assumes, “’You did what?’ they’ll ask. ‘Yes,’ we’ll say, ‘it’s true. We actually looked out the car window.’” He is sarcastic because he is in disbelief at how oblivious adolescence is becoming. Louv finds it humorous that children are becoming so dependent on technology and are becoming so detached from nature. He mocks our future generation and their foolhardiness that is arising within them. Richard Louv reminisces his days in the back seat of a driving car, and vividly explains his experience through imagery. He remembers when he “started with a kind of reverence at the horizon, as thunderheads and dancing rain moved with” him. He also personifies the “dancing rain” to portray his full image. Louv understands technology is going to expand and become more broad; however he can understand the intellectual details of nature that he remembers and realizes that technology is distracting people from visualizing “the variety or architecture, here and there; the woods and fields and water beyond the steamy edges- all that was and still available to the eye...
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...Mock trial Mock trial Mock trial Mock trial Mock trial Mock trial Mock trial Mock trial Mock trial Mock Mock trial Mock trial Mock trial Mock trial Mock trial Mock tria Mock trial Mock trial Mock trial Mock trial Mock trial Mock trial Mock trial Mock trial Mock trial Mock trial Mock trial Mock trial Mock trial Mock trial mock trial mock trial mock trial mock trial mock trial mock trial mock trial mock trial mock trial mock trial mock trial max is a big poop head and I hate my life I need 250 words so im just typing snf typing and typing and I tried copy andpaste but nothing worked so now I have to do this m,annually and it really sucks because I just wanted to graduate and be done but instead im doing this boo boo booi suck and I don’t actually want twwio jobs I just want money so I aint a broke bitch almost 250 jeep going keep goinjg alomost there twenty more words girl you vsn do this almost there I hate thios so much and I ki l Mock tria Mock trial Moc Mock trial Mock trial Mock trial k trial Mock trial Mock trial Mock trial Mock trial Mock trial Mock trial Mock trial Mock trial Mock trial Mock trial Mock trial l Mock trial Mock trial Mock Mock trial Mock trial Mock trial Mock trial Mock trial Mock trial trial trial Mock trial Mock trial Mock trial Mock trial Mock...
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...Development Best Practices Contents Values Principles Practices o o o o o o o o o o Testing Naming Conventions Client and Server-Side Architectural Patterns ImsCommonsUtil Database Access Dependency Injection/Inversion of Control Business (Domain) Objects GUI Refactoring Core Java Values Simplicity Use the simplest design for the current functionality; don't try to anticipate tomorrow's needs. Code should be easy for a new developer to understand (or yourself a year later). Don't optimize for performance unless there's empirical evidence that it is needed. Be wary of building or using frameworks that make the application harder to understand. If you do need a framework (e.g. Spring for dependency injection), make sure the application's business logic isn't tied to the framework in any way. Maintainability Good naming is crucial. You should be able to read the code aloud, and a person listening to you should be able to understand what the code you are reading does Put responsibilities in the right place. Enforce a clean separation of the application's layers. For example, the UI code should not know anything about the database structure. Use well-known patterns and common idioms for the language. Maintain consistency at the module, application, and team level. There's always more than one way to do something, but doing it consistently is more important than finding the absolute best way. Information Classification: Limited Access Refactor your application code aggressively...
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...get to the point of having a positive body image and even though I still have insecurities, for the most part I feel pretty good about myself. One of the biggest things that challenges me in having a positive body image is when I go shopping. A lot of the time I find clothes that I really like but they may not have my size or the clothes are in my size but for some reason they don’t look right on my body. This has been something that has always stressed me out from a young age because I have always felt bad when I don’t fit into certain types of clothes. Another thing that challenges me is when I see people on TV criticizing people because of their weight. I’ve watched numerous talk shows where they will be talking about a celebrity and mock them for gaining weight. In turn this makes me feel even more insecure about my weight, especially if I weigh more than the person they are mocking. However; with my body I have learned to embrace the fact that having curves isn’t a bad thing. Being short sometimes benefits me because clothes that might be too short on other people fit me perfectly. I’ve also just overall embraced the fact that my body is my own and as long as I’m happy in my own skin that is what...
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...Is Mac Flecknoe a lampoon or a satire? At a time when fiction from Grub Street hack writers (whom he called the “multitude of scribblers, who daily pester the world with their insufferable stuff ”) was becoming widely read, courtly poets and dramatists like Dryden felt a need to play the public role of arbiters of literary taste. Dryden was actively engaged in contemporary debates which sought to lay down standards of what was considered high and low art. He published his “Essay of Dramatic Poesie” in 1667 and “Discourses on Satire and Epic Poetry” in 1692. Both of these served as prescriptive texts for what passed muster as “good” art. In an age of a revived interest in the classics, many of the instructions on good satirical writing are based on the works of Horace, Persius and Juvenal. While he did not think highly of Horatian verse which used word-play like anagrams and “ackrosticks” and was favoured by Francophiles poets, he admired Juvenal and Persius for their unity of plot and their use of Wit, which he saw as a more masculine device than lampooning or raillery. In MacFlecknoe, Dryden’s definition of good art also comes to be strongly associated with class. When he says that bad poetry laden with “Pure Clinches” or puns is inspired by the “suburban Muse”, his implication is that it is only the genteel circles of London that produce and read good poetry – thus, Bun-hill and Watling Street are down-market parts of London which by virtue of their economic demography...
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...sides use an expert it may lead to a battle of experts and as a result jurors may be confounded even more. It can therefore be seen how expert testimony should not be used often and by both sides, something which potentially trials can put into practice. Another strength of this type of research is that it’s generally quite cheap to carry out, as it usually uses self-reports to obtain results, so many can be carried out and thus vast amounts of data can be collected. This means we can apply these results to the area that we are investigating, in this case persuading a jury. On the other hand, all of the research that has been carried out into persuading a jury has been based on mock trials. For example in the Pennington & Hastie study 130 students listened to tape recordings of a mock trial, and although mock trials may resemble real trials, they are not the real thing which means the methodology lacks ecological validity as the settings are usually lab experiments, making the results less valid and thus less useful. Also, most of the research into persuading a jury uses students as participants who were paid to participate or...
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...Activity: Mock TrialUnit Planning TITLE: Mock Trial | TEACHER: | COURSE: LE/CSI | DURATION: 1 week | CONTENT—What will students learn? | CAREER/TECHNICAL KNOWLEDGE AND SKILLS | ACADEMIC KNOWLEDGE AND SKILLS | 21ST CENTURY SKILLS | The students will be able to: -Identify the types of mock trials. -Explore the roles of the players in a mock trial. -Examine the steps in preparing a mock trial. -Describe the order of the events in a mock trial. | -Students will demonstrate their understanding of courtroom demeanor and procedure. -Students will demonstrate their knowledge of criminal law. | -Teamwork -Written and verbal communications -Critical thinking | SCENARIO OR PROBLEM/ESSENTIAL QUESTIONS | -What does it take to perform each of the roles of the professionals in the court. -Students will perform a mock trial using the case goldilocks and the three bears. ASSESSMENT (Check all that apply) | FORMATIVE | SUMMATIVE | Quizzes/Tests | X | Multiple Choice/Short Answer Test | X | Notes/Graphic Representations | X | Essay Test | | Rough Draft | X | Written Product with Rubric | | Practice Presentation | X | Oral Presentation with Rubric | X | Preliminary Plans/Goals/Checklists of Progress | X | Other Product or Performance with Rubric | X | Journal/Learning Log | | Self-Evaluation or Reflection | ...
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...2016 Level I Mock Exam: Afternoon Session The afternoon session of the 2016 Level I Chartered Financial Analyst (CFA®) Mock Examination has 120 questions. To best simulate the exam day experience, candidates are advised to allocate an average of 1.5 minutes per question for a total of 180 minutes (3 hours) for this session of the exam. Topic Minutes 1-18 Ethical and Professional Standards 27 19-32 Quantitative Methods 21 33-44 Economics 18 45-68 Financial Statement Analysis 36 69-76 Corporate Finance 12 77-88 Equity Investments 18 89-94 Derivative Investments 9 95-106 Fixed Income Investments 18 107-110 Alternative Investments 6 111-120 Portfolio Management 15 Total: 180 By accessing this mock exam, you agree to the following terms of use: This mock exam is provided to currentlyregistered CFA candidates. Candidates may view and print the exam for personal exam preparation only. The following activities are strictly prohibited and may result in disciplinary and/or legal action: accessing or permitting access by anyone other than currently-registered CFA candidates; copying, posting to any website, emailing, distributing and/or reprinting the mock exam for any purpose. © 2016 Copyrighted by CFA Institute. All rights reserved. 1. Richard Cardinal, CFA, is the founder of Volcano Capital Research, an investment management firm whose sole activity is short selling...
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...2012 Level II Mock Exam: Afternoon Session The afternoon session of the 2012 Level II Chartered Financial Analyst (CFA®) Mock Examination has 60 questions. To best simulate the exam day experience, candidates are advised to allocate an average of 18 minutes per item set (vignette and 6 multiple choice questions) for a total of 180 minutes (3 hours) for this session of the exam. By accessing this mock exam, you agree to the following terms of use: This mock exam is provided to currently registered CFA candidates. Candidates may view and print the exam for personal exam preparation only. The following activities are strictly prohibited and may result in disciplinary and/or legal action: accessing or permitting access by anyone other than currently registered CFA candidates and copying, posting to any website, e-mailing, distributing, and/or reprinting the mock exam for any purpose. Marcus Pinto Case Scenario A struggling asset management company recently hired Marcus Pinto, CFA, as chief operating officer (COO). Pinto’s first responsibility is to recommend to the Board of Directors how they can lower costs while still retaining the firm’s client base and how to increase assets under management. Pinto analyzes the firm, its clients’ needs, and general market conditions before presenting his findings to the Board of Directors. At the presentation, he makes the following statements: Statement 1: “If the company adopts the CFA Institute Standards of Professional Conduct, the...
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...PASS MOCK EXAM – FOR PRACTICE ONLY Course: __CHEM 1001 A/T___ Facilitator: _Saumya Bansal____ Dates and locations of mock exam take-up: Wednesday 4 – 5 30 (SA 502) Wednesday 6 30 – 8 (ME 3269) , Extra session maybe on Thursday (details in class) IMPORTANT: It is most beneficial to you to write this mock midterm UNDER EXAM CONDITIONS. This means: 1. • Complete the midterm in __1.5_ hour(s). 2. • Work on your own. 3. • Keep your notes and textbook closed. 4. • Attempt every question. After the time limit, go back over your work with a different colour or on a separate piece of paper and try to do the questions you are unsure of. Record your ideas in the margins to remind yourself of what you were thinking when you take it up at PASS. The purpose of this mock exam is to give you practice answering questions in a timed setting and to help you to gauge which aspects of the course content you know well and which are in need of further development and review. Use this mock exam as a learning tool in preparing for the actual exam. Please note: • Come to the PASS session with your mock exam complete. There, you can work with other students to review your work. • Often, there is not enough time to review the entire exam in the PASS session. Decide which questions you most want to review – the facilitator may ask students to vote on which questions they want to discuss. • Facilitators do not bring copies...
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