...Introduction Dramatic improvement and a paradigm shift In our first Journey report, covering 1979 to 1993, we reached three main conclusions about performance in the property and casualty insurance industry: 1. Risk management is the primary driver of success, not investment performance, expense management or financial leverage. We suggested that risk management had four components: enterprise risk management, capital management, product market management, and transaction excellence. 2. Performance is remarkably consistent and selfreinforcing. Winners keep winning, while persistent underperformers tend to be acquired or go out of business. 3. Winners capitalize on counterintuitive “ironies of risk.” They seek rather than avoid risk, bridge underwriting and claim silos, focus rather than diversify the book, and ignore rather than try to game the cycle. We updated our analysis in The Journey Revisited In 2003, we examined the causes of poor industry profitability in absolute terms and relative to other...
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...Computer: A computer is a general purpose device that can be programmed to carry out a finite set of arithmetic or logical operations. Since a sequence of operations can be readily changed, the computer can solve more than one kind of problem. Conventionally, a computer consists of at least one processing element, typically a central processing unit (CPU) and some form of memory. The processing element carries out arithmetic and logic operations, and a sequencing and control unit that can change the order of operations based on stored information. Peripheral devices allow information to be retrieved from an external source, and the result of operations saved and retrieved. A TYPICAL COMPUTER SYSTEM: A typical digital computer consists of: a) A central processor unit (CPU) b) A memory c) Input/output (I/0) ports Functions of Computer The main and also basic the functions of a computer is to run programs. The programs they run can help to improve humans' everyday lives. But, there are four basic functions of a Computer. They are: 1. Input Function: You input data i.e. you provide data; a set of instructions. You input data through input devices which are keyboard, mouse, scanner, etc. 2. Processing Function: The computer processing unit manipulates the data which is done by the C.P.U 3. Output Function: After processing the data the computer displays the result, it gives an output. Output devices are the monitor, in the case of visual...
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...REGISTRATION NUMBER: N00801170C 1 SETH CHIMERI N00801170C 3RD YEAR WORK RELATED REPORT NATIONAL UNIVERSITY OF SCIENCE AND TECHNOLOGY (NUST) 2010/2011 Prepared in partial fulfilment of the B.Com Honours Degree in Insurance & Risk Management TiB INSURANCE BROKERS A Member of Trust Holdings Limited Executive Summary The National University of Science and Technology (NUST) was established by an Act of Parliament in 1992 and through the years it has become a beacon in churning top class graduates into the commercial and science industries in Zimbabwe. In a bid to preserve its well deserved reputation NUST ensures that all its students undergo one year work related learning in their respective career lines. This serves the imperative opportunity to bridge the gap between theory and the actual practice in the industry, thus enabling graduates from National University of Science and Technology to be the favourites countrywide, regionally and internationally. This report details my enriching experience during my work related learning at TiB Insurance Brokers as a fulfillment of the requirements of the Bachelor of Commerce Honours Degree in Insurance and Risk Management with the National University of Science and Technology (NUST). This work related report outlines among other things the Company background, its organizational structure, and other facts of the Company, what I did during the course of the attachment period, what I leant and what I think can be done to improve the operating...
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...world economy is banking sector. This report focuses on how a bank performs in advanced economy and moderately advanced economic situation. There is a significant scope for Bangladeshi investment bank to compete in global market. Several studies have shown that investment banks play a major role along with government and in public finance. 1. East West University, Department of Business Administration. This project preparation is for academic and final year submission to project supervisor Quazi Sagota Samina. 1 The Evolution of Banking Banks are just one part of the world of financial institutions, standing alongside investment banks, insurance companies, finance companies, investment managers and other companies that profit from the creation and flow of money. As financial intermediaries, banks stand between depositors who supply capital and borrowers who demand capital. Given how much commerce and individual wealth rests on healthy banks, banks are also among the most heavily regulated businesses in the world. Banks have been around since the first currencies were minted, perhaps even before that, in some form or another. Currency, particularly the use of coins, grew out of taxation. In the early days of ancient empires, a tax of on healthy pig per year might be reasonable,...
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...example, a CDO might issue the following tranches in order of safeness: Senior AAA (sometimes known as "super senior"); Junior AAA; AA; A; BBB; Residual.[4] Separate special purpose entities—rather than the parent investment bank—issue the CDOs and pay interest to investors. As CDOs developed, some sponsors repackaged tranches into yet another iteration, known as "CDO-squared" or "CDOs of CDOs."[4] In the early 2000s, CDOs were generally diversified,[5] but by 2006–2007—when the CDO market grew to $100s of billions—this changed. CDO collateral became dominated not by loans, but by lower level (BBB or A) tranches recycled from other asset-backed securities, whose assets were usually non-prime mortgages.[6] These CDOs have been called "the engine that powered the mortgage supply chain" for...
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...Educarnival PediaAssignment, Internship Report, Term Paper * ------------------------------------------------- Home * ------------------------------------------------- Rules and Regulations * ------------------------------------------------- Educarnival Home ------------------------------------------------- Top of Form Bottom of Form ------------------------------------------------- A project paper on: “Performance in Pooling of funds, making of portfolios and Dividend policy of Investment Corporation of Bangladesh (ICB)”. March 19, 2013 | Author: Farzana | Posted in Featured Article Table of Contents * ------------------------------------------------- 1 Chapter 1 * ------------------------------------------------- 1.1 Overview * ------------------------------------------------- 1.2 Statement of the problem * ------------------------------------------------- 1.3 Rationale of the study * ------------------------------------------------- 1.4 Objective of the study * ------------------------------------------------- 1.5 Methodologies * ------------------------------------------------- 1.6 Expected outcome of the study and its use: * ------------------------------------------------- 1.7 Limitation of the study * ------------------------------------------------- 2 Chapter 2 * ------------------------------------------------- * ------------------------------------------------- 2.0.1 Background * -------------------------------------------------...
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...Careers in Investment Banking WetFeet Insider Guide 2005 Edition The WetFeet Research Methodology You hold in your hands a copy of the best-quality research available for job seekers. We have designed this Insider Guide to save you time doing your job research and to provide highly accurate information written precisely for the needs of the job-seeking public. (We also hope that you’ll enjoy reading it, because, believe it or not, the job search doesn’t have to be a pain in the neck.) Each WetFeet Insider Guide represents hundreds of hours of careful research and writing. We start with a review of the public information available. (Our writers are also experts in reading between the lines.) We augment this information with dozens of in-depth interviews of people who actually work for each company or industry we cover. And, although we keep the identity of the rank-and-file employees anonymous to encourage candor, we also interview the company’s recruiting staff extensively, to make sure that we give you, the reader, accurate information about recruiting, process, compensation, hiring targets, and so on. (WetFeet retains all editorial control of the product.) We also regularly survey our members and customers to learn about their experiences in the recruiting process. Finally, each Insider Guide goes through an editorial review and fact-checking process to make sure that the information and writing live up to our exacting standards before it goes out the door. Are we perfect...
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...Chapter One Background of the Study 1.1 Introduction As an indispensible part of BBA Program under Department of Management Studies of University of Dhaka, Internship is designed to bridge the gap between academic knowledge that we explore from studying books and practical working environment to large extent. It is really a great opportunity we got to have a real life experience while passing through the process of practical learning. The preparations of internship report on the topic “Overall Performance of Bangladesh General Insurance Company (BGIC)” was no doubt a challenging task, particularly for a student. I have tried my level best to analyze in depth the overall International and Domestic Trade and business insurance Services provided by BGIC Bangladesh. My pain will be fruitful if my report serves any purpose of BGIC or my department or my fellow friends interested in having insight into the related matters. 1.2 Rationality of the study . No business can exist without having insurance policy, which is much talked about subject now –a- days. In some cases getting insurance is made compulsory for example motor insurance. But unfortunately a very few studies has been made for insurance services. The report is assigned by our course teacher Professor Dr. Shahid Uddin Ahmed as a part of our BBA program. The report is on the assigned topic...
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...pResented by the society of ActuARies, the cAsuAlty ActuARiAl society And the cAnAdiAn institute of ActuARies Risk Management: The Current Financial Crisis, Lessons Learned and Future Implications Copyright 2008 by the Society of Actuaries. R I s k M a n a g e M e n T: the current financial crisis, lessons learned and future implications introduction the current financial crisis presents a case study of a “financial tsunami” (as former federal Reserve chairman Alan Greenspan recently called it) on what can go wrong. its ramifications are far-reaching and the lessons learned will be embedded in risk management practices for years to come. As one of the premier enterprise risk professions in practice today, the actuarial profession is sharing its substantial insight into what went wrong and the implications for the future. on behalf of the society of Actuaries, the casualty Actuarial society and the canadian institute of Actuaries, we are pleased to provide a series of essays on Risk Management: The Current Financial Crisis, Lessons Learned and Future Implications. this e-book is the result of a call for essays on the subject coordinated by the following groups: • • • • The Joint Risk Management Section of the Society of Actuaries, Casualty Actuarial Society and Canadian institute of Actuaries The Investment Section of the Society of Actuaries International Network of Actuarial Risk Managers Enterprise Risk Management Institute International ...
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...How To Prepare and Present a Successful Business Funding Request EVERY BUSINESS NEEDS CAPITAL Successful businesses are well planned and well capitalized. Being well capitalized means having the ability to access capital when your business needs it. Being well planned is the first step towards being well capitalized. The Cost of Capital I have watched many entrepreneurs lose valuable opportunities because they thought the cost of capital was too high. They spent too much time negotiating over the cost of the money, while their window of opportunity closed. The cost of capital should only be a consideration of the function of losses sustained by not having it. Simply put, if it costs you one dollar in order to make two, are you ahead or behind? What this book will do for you The objectives of this book are to help you • Analyze your market, the competition, and your financials, • Identify your strengths, weaknesses, and strategies, • Establish how much money you will need and when, • Determine the type of capital you will most likely qualify for, • Define what information you need to present to Lenders or Investors, • Package your request for your best chance of success, • Establish the format and flow of your presentation, • Direct you to the Funding Sources that offer exactly what you need, (If you don't know where to send your request, what is the point of all this?) Libraries and bookstores are full of financial "How To Books" and I highly recommend you read as many as...
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...VAULT CAREER GUIDE TO INVESTM E NT BAN KING 2008 EDITION is made possible through the generous support of the following sponsors: Customized for: Triston Francis (tfran@wharton.upenn.edu) SEO Online Career Library The media’s watching Vault! Here’s a sampling of our coverage. “For those hoping to climb the ladder of success, [Vault’s] insights are priceless.” – Money magazine “The best place on the web to prepare for a job search.” – Fortune “[Vault guides] make for excellent starting points for job hunters and should be purchased by academic libraries for their career sections [and] university career centers.” – Library Journal “The granddaddy of worker sites.” – U.S. News & World Report “A killer app.” – New York Times Customized for: Triston Francis (tfran@wharton.upenn.edu) SEO Online Career Library One of Forbes’ 33 “Favorite Sites” – Forbes “To get the unvarnished scoop, check out Vault.” – SmartMoney Magazine “Vault has a wealth of information about major employers and jobsearching strategies as well as comments from workers about their experiences at specific companies.” – The Washington Post “A key reference for those who want to know what it takes to get hired by a law firm and what to expect once they get there.” – New York Law Journal “Vault [provides] the skinny on working conditions at all kinds of companies from current and former employees.” – USA Today Customized for: Triston Francis (tfran@wharton.upenn.edu) SEO Online Career Library ...
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...» BEST OF HBR THE HIGH-PERFORMANCE ORGANIZATION 1989 Sixteen years ago, when Gary Hamel, then a lecturer at London Business Schooi, and C.K. Prahalad, a University of Michigan professor, wrote "Strategic lntent,"the article signaled that a major new force had arrived in management Hamel and Prahalad argue that Western companies focus on trimming their ambitions to match resources and, as a result, search only for advantages they can sustain. By contrast, Japanese corporations leverage resources by accelerating the pace of organizational learning and try to attain seemingly impossible goals. These firms foster the desire to succeed among their employees and maintain it by spreading the vision of global leadership. This is how Canon sought to "beat Xerox"and Komatsu set out to "encircle Caterpillar." This strategic intent usually incorporates stretch targets, which force companies to compete in innovative ways. In this McKlnsey Award-winning article, Hamel and Prahalad describe four techniques that Japanese companies use: building layers ofadvantage, searching for "loose bricks," changing the terms of engagement, and competing through collaboration. Strategic Intent by Gary Hamel and C.K. Prahalad oday managers in many industries Most leading global companies started with ambitions that were far bigger than their resources and capabilities. But they created an obsession with winning at ail levels of the organization and sustained that obsession for decades. 148 working hard...
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...1.0 Introduction Capital Market mainly refers to the Stock and Share market of the country. When banking system cannot totally meet up the need for funds to the market economy, capital market stands up to supplement it. Companies and the government can raise funds for long-term investments via the capital market. The capital market includes the stock market, the bond market, and the primary market. Securities trading on organized capital markets are monitored by the government; new issues are approved by authorities of financial supervision and monitored by participating banks. Thus, organized capital markets are able to guarantee sound investment opportunities. This paper reveals the various aspects of the Capital Market in Bangladesh. 1.1 Objectives Capital market, being an essential element of today’s economy, demands an intensive and special attention. The objective of this study is to look into every aspect of Bangladesh capital market and identify its various pros and cons along with some recommendations to overcome the existing problems. The specific objectives of this study are: _ To give an overall idea about the capital market-its structures, functions, importance, etc. _ To identify the current situations of our capital market of Bangladesh. _ To compare the relative conditions of Bangladesh capital market to other countries of the world. _ To sort out the problems associated with our capital market. _ To suggest some practicable solutions to these...
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...solution SOLUTIONS TO EXERCISES AND CASES For FINANCIAL STATEMENT ANALYSIS AND SECURITY VALUATION Stephen H. Penman Fifth Edition CHAPTER ONE Introduction to Investing and Valuation Concept Questions C1.1. Fundamental risk arises from the inherent risk in the business – from sales revenue falling or expenses rising unexpectedly, for example. Price risk is the risk of prices deviating from fundamental value. Prices are subject to fundamental risk, but can move away from fundamental value, irrespective of outcomes in the fundamentals. When an investor buys a stock, she takes on fundamental risk – the stock price could drop because the firm’s operations don’t meet expectations – but she also runs the (price) risk of buying a stock that is overpriced or selling a stock that is underpriced. Chapter 19 elaborates and Figure 19.5 (in Chapter 19) gives a display. C1.2. A beta technology measures the risk of an investment and the required return that the risk requires. The capital asset pricing model (CAPM) is a beta technology; is measures risk (beta) and the required return for the beta. An alpha technology involves techniques that identify mispriced stocks than can earn a return in excess of the required return (an alpha return). See Box 1.1. The appendix to Chapter 3 elaborates on beta technologies. C1.3. This statement is based on a statistical average from the historical data: The return on stocks...
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...JARAF The Journal of applied research in accounTing and finance V O L U M E 3 , i s s U E 1 , 2 0 0 8 Old Wine in New Bottles: Subprime Mortgage Crisis – Causes and Consequences Michael Mah-Hui Lim Information Lost: A Descriptive Analysis of IFRS Firms’ 20-F Reconciliations Marlene Plumlee and R. David Plumlee Negative Goodwill: Issues of Financial Reporting and Analysis Under Current and Proposed Guidelines Eugene E. Comiskey and Charles W. Mulford Electronic copy available at: http://ssrn.com/abstract=1263280 JARAF The Journal of applied research in accounTing and finance Publication Information JARAF - The Journal of Applied Research in Accounting and Finance is a scholarly peerreviewed journal jointly published by The Centre for Managerial Finance at Macquarie Graduate School of Management and the Faculty of Economics and Business at The University of Sydney. All journal articles published in JARAF are subjected to double-blind peer-reviews by qualified international experts. Months of Distribution: July – December Current Edition: Volume 3, Issue 1 (2008) ISSN 1834-2582 (Print) ISSN 1834-2590 (Online) Editors Tyrone M. Carlin Professor of Financial Reporting & Regulation Faculty of Economics and Business The University of Sydney NSW 2006 Australia Nigel Finch Director, Centre for Managerial Finance Macquarie Graduate School of Management Macquarie University NSW 2109 Australia Editorial Advisory Board Edward I. Altman Max L. Heine Professor...
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