FTCE General Knowledge Essay Topic for 2020

FTCE General Knowledge Essay Topic for 2020The FTCE General Knowledge Essay Topic for 2020 is set to be published soon. While the scores of papers prepared by many students across the nation have not been as good as the one that we have just seen, some students have consistently managed to get high marks. Today, the National Achievement Test is conducted every year, with many of the students in different districts in the country participating.These exams are just part of the National Board's core functions. Students can take tests from any place and it would be a subject matter which has been prepared for a test. The scorecards are created after some months of practice and planning. In other words, there are not much planning and work involved in the first place, all these efforts are mainly based on the well thought of students and teachers who have been observing the performance of students over the past few years.We have seen the previous essays through the reviews written by teac hers, parents and students. While most of the students and teachers praise the essays for giving them a perfect score, there are some which have scored lower than expected. Some students have even given the essays negative reviews and have stated that they have no hope in getting high marks in such a topic.This is not the case at all, but students should make sure that the general knowledge essay topics can give them a higher grade than what they got in the last essay. Even though you have already seen your previous essays, you can also look for other ways to make sure that you score higher than what you already have. Even if you don't get a perfect score, you will be able to improve your grades.However, when we talk about the essays which scored lower than what students had hoped for, the scores for the general knowledge essay topics have definitely gone down. There are so many things that need to be considered. Itis easy to see that students have to fight against the current trend of low scores because the trend does not appear to be going away anytime soon.Also, when we see the rise in the number of essays that students are taking every year, then the general knowledge essay topics are also getting higher. Most of the students in various districts today prepare their essays using the top names in the world and due to this reason, they are not satisfied with their results. These trends need to be looked into and fixed properly, otherwise there will be many students who will end up getting lower marks.To solve this problem, most of the schools across the nation are providing help to the new students who have not been well read with regards to the rules and norms and are afraid to think too much on the topic. They prefer to work on the exams that are available in the market. Though the FTCE General Knowledge Essay Topic for 2020 may be perfect for the present trend, it would not be perfect in the future.

Quest for Self-Identity in Margaret Atwood’s Surfacing...

As the post-colonial criticism developed, the theorists have agreed upon the fact that the role of feminism in the post-colonial practice is crucial. Moreover, these two theories clearly have the same goals. On the one hand, the main objective of both of them is to disclose the traditional power structures, both patriarchal and imperial. On the other hand, both feminism and post-colonial criticism aim to show the way the writers challenge the respective forms of authority. The main concerns of the post-colonial criticism are the formation of canon, the phases through which imperialism and decolonization have gone, as well as how these processes are expressed in literature. What is more, the criticism is also concerned with the ways of†¦show more content†¦Today when the term identity refers, more often than not, to something noisily demonstrative, to a more or less desperate quest, or to an almost deliberately confused search... The nameless narrator in Margaret Atwoods nove l is on the pathway of unresolved crisis, she stands at the crossroads between different values, and her insecurity of her self-certainty limits her presenting her self-image to others. The novel reflects her journey of finding a resolution for her identity crisis, her struggle to conquer one of the most difficult issues in lives. In Spite of The Bell Jar, Esther searches consistently for some kind of identity but finds her options limited as a young woman with little money of her own. After a disappointing summer as a guest editor in New York City, she fails to be accepted into a prestigious writing course and gradually loses much of her sanity and ambition. She mentally explores many wild scenarios for happiness and fulfillment (e.g., apprenticing herself to a pottery maker, finding a European lover), tries to write a novel, does such bizarre things as wearing her mothers clothes and eating raw meat, and finally attempts suicide. Obviously, she is not mentally well, but to some extent societys repressions for females and the lack of creative inspiration in her life have both contributed to her collapse. Since society does not encourage

Essay about Slaughtering for the Humanness of Horses

Slaughtering for the Humanness of Horses The closing of slaughterhouses in the United States for horses has resulted in inhumane treatment and gross neglect for thousands of horses. Congressmen, lobbyists, activists, actors, and every day people have petitioned for these death traps to be destroyed, all for the benefit of the horse. The horse, who cannot speak, can only react to his surroundings. The ones to be benefited are the people who see this as cruel, and inhumane; to give them a clear conscious, because they feel endeared to this animal. I, too, am endeared to this animal, but understand that the horse has been put in, an all too often, precarious situation, that even death, cannot come quick enough. Without slaughter†¦show more content†¦One horse rescue farm received calls on 230 horses from April 2008 to August 2009 (Lewis, 2009). That’s an increase of over 1800 percent from the previous year, when slaughterhouses closed. Horse rescue farms rely on donations, whether in the form of food, labor, or money, to make ends meet. â€Å"It’s always a struggle,† (Myers), who owns Sunshine Acres rescue ranch, said. â€Å"It’s expensive to keep horses, and there aren’t enough donations coming in. Most of the horses I get are underweight and have health problems, which requires more feed.†(Lewis, 2009, p. 4A) Others have horses that are geriatric or have medical issues. They are kept out of compassion, as not many would want the financial burden of a horse that is unusable. These horses are even more difficult to find new homes for and in some instances their quality of life has already passed. Other people refuse to try to make arrangements for them when they experience a financial hardship and just quit feeding them. â€Å"They’re emaciated. Some of them, their eyes are glazed over,† said Holly Simpson, (Zaborney, 2010, p. 1) of Arabian Rescue Midwest, who visited 30 plus horses after they were seized by the Humane Society. One horse was already dead and six others had to be euthanized at the sight, as their state of

Wrongful Convictions - 1074 Words

Wrongful Convictions 2 Causes of Wrongful Convictions There are three main causes of wrongful convictions in the United States. This leads to wrongful punishment and causes turmoil for everyone involved. It then creates multiple feelings on everyone’s behalf, therefore; leaving no choice but to choose sides. Should capital punishment be enforced or not enforced. To what extent do you believe the death penalty should be improvised? Wrongful convictions are sought out by lawyers and police to determine if a criminal is guilty. Evidence and DNA is all part of the investigation that leads to an arrest. Once evidence is presented, the jury will then deliberate on what†¦show more content†¦For this cause there are pros, protecting civilians from future harm. The effect of this cause is that the cons are still out there on the streets, however; the evidence is not convincing enough to put the criminal away. These causes have put authorities such as police and attorneys on edge. Causing them to doubt the outcome of all the existing crimes that are happening. Wondering why they are taking Wrongful Convictions 4 such a risk capturing these criminals and watching them all be released back on the streets. Due to the evidence provided they should be punished to the fullest extent of the law. A jury can determine when a witness is giving false information and when they are telling the truth. Weak and fabricated evidence is often tested in court. Therefore; some criminals are wrongfully convicted. Given a plea or plea deal or even a new deal could lead to the conviction of an innocent situation In conclusion wrongful convictions are subject to many decisions. Not only by a judge or jury but by the evidence that is provided in court. Given the fa cts we will spend vast energies in freeing a few innocent people. We must gird for battle and restore the lost law. The law must be put back in congress where under the system it must reside forever. Giving hope to those who were wrongfully convictedShow MoreRelatedThe Wrongful Conviction Of Wrongful Convictions Essay1365 Words   |  6 PagesWrongful convictions Every year, hundreds of people get convicted wrongly as a result of criminal proceedings that are rooted in miscarriage of justice. The defendants are convicted for crimes not committed where errors are not proven until their death or having served a lot of jail time. Wrongful convictions are fueled by false witnesses, incompetence of defense lawyers and inadequate evidence among others. However, with the emergence of forensic DNA in collection of evidence, the rate of wrongfulRead MoreWrongful Conviction And Wrongful Convictions1956 Words   |  8 PagesThe topic of wrongful convictions will be discussed in this research paper. Wrongful conviction is defined as the conviction of a person who is accused of a crime in which, in the result of subsequent investigation, proves erroneous. These persons who are in fact innocent, will be wrongly convicted by a jury or a court of law. Background and Justification Since 1923, when Judge Learned Hand said that the American judicial system â€Å"has always been haunted by the ghost of the innocent man convictedRead MoreThe Conviction Of A Wrongful Conviction1671 Words   |  7 Pagesdid not do. Ivan Henry is the perfect example of a victim of a wrongful conviction and how the justice system is flawed when it comes to convictions. Misconduct by the police and the Crown not disclosing important information led to Henry’ wrongful conviction. A wrongful conviction can be described as â€Å"a conviction of a person who was factually innocent† (Colvin, 2009). Also according to Colvin the leading culprits in wrongful convictions are: eyewitnesses, misidentification, investigative misconductRead MoreWrongful Convictions1773 Words   |  8 PagesMayleika Pizano Wrongful Convictions- Inmates on Death Row Lately, there has been an increasing public awareness and significance of wrongful convictions in America. The growing awareness among policy makers and U.S. citizens have resulted mainly due to highly exposed post-conviction DNA exoneration of inmates who served lengthy prison sentences, as well as the growing eradication of the use of death sentence in America. Recent inquiries involving the likelihood of error in capital casesRead MoreThe Issue Of Wrongful Conviction1746 Words   |  7 Pagesconvicted wrongdoers has been apparently the overwhelming lawful improvement in Canada over the past half-century. In recent years, the issue of wrongful conviction has turned into an acknowledged reality in most common law jurisdiction; Prominent cases tend not just to attract our consideration regarding the deleterious impacts of a wrongful conviction on an individual but also to illustrate how parts of the criminal justice process have fizzled. An across the nation system of attorneys, col umnistsRead MoreWrongful Convictions3202 Words   |  13 PagesCornelius Dupree Jr.: A Case of Wrongful Conviction. Written by: Lance Kriete CJL4037 April 2011 Every year in the United States of America, millions of crimes are committed that violate and harm the individual rights, properties, and freedoms that are not only guaranteed to American citizens of this country, but also naturally inherent to mankind as whole. Based on the founding principles of our country, which are derived from the Constitution of these United States, justice is dealt accordinglyRead MorePreventing Wrongful Convictions Essay1103 Words   |  5 PagesEvery time an innocent person is exonerated based on DNA testing, law enforcement agencies look at what caused the wrongful convictions. There are many issues that contribute to putting guiltless lives behind bars including: eyewitness misidentification, false confessions, imperfect forensic science, and more (Gould and Leo 18). When a witness is taken into a police station to identify a suspect, it is easy for their memories to be blurred and their judgment influenced. This can lead the witnessRead MoreThe Wrongfu l Convictions Of The Death Penalty2050 Words   |  9 Pagesbeen exonerated through DNA testing nationwide. But why do these wrongful convictions keep happening? Well, in nearly 25 years since post-conviction DNA evidence has been used to demonstrate criminal innocence, even in cases that landed defendants on death row or in prison for life. Eyewitness misidentification, forensic science errors, false confessions, government misconduct and bad lawyering are many of the reasons wrongful convictions occur. Eyewitness being the most common. Sometimes it can beRead MoreWrongful Convictions And The Court System1050 Words   |  5 PagesWrongful convictions are common in the court-system. In fact, wrongful convictions are not the rare events that you see or hear on televisions shows, but are very common. They stem from some sort of systematic defect that lead to wrongful convictions such as, eyewitness misidentification testimony, unvalidated or improper forensic science, false confessions and incriminating statements, DNA lab errors, false confessions, and informants (2014). Bringing awareness to all these systematic defects, whichRead MoreEssay about Wrongful Convictions3819 Words   |  16 Pagesâ€Å"UNDUE PROCESS† WRONGFUL CONVICTIONS AND VIOLATIONS OF CIVIL LIBERTIES Latrina Dickerson Master of Arts in Liberal Studies Clayton State University, Morrow, Georgia February, 2013 â€Å"UNDUE PROCESS† Wrongful Convictions and Violations of Civil Liberties Abstract: Over the past twenty years, advancement in DNA technology has directly led to the exoneration of nearly 300 people in the United States. In addition to these scientific advancements, a growing body of

Student Loan Crisis - 1592 Words

Student Loan Crisis Beginning in the 1960’s the distribution of federal and non-profit funds have given students all over the United States the opportunity to pursue post-secondary educations. Although this method has given students the ability to go to college financially, the majority of the students are not able to pay the money back when finished causing debt. Currently students in the United States owe more than $1 trillion dollars worth of federal and private student loans. Surprisingly this number has surpassed the country’s credit card debt which is $852 billion dollars. This years presidential election has many serious amp; interesting topics being discussed such as gay marriage amp; immigration, but the topic of student loan†¦show more content†¦The youth unemployment rate for African Americans is almost doubled compared to the youth unemployment rate for white Americans. This makes it that much more harder for black Americans to find sources of repay ment since white Americans are able to get jobs easier. According to Adams, the average African American graduates with roughly 30,000 dollars worth of student loan debt (Adams 1). As the younger generation of blacks leave college with student loan debt that they are unable to payback, their ability to become homeowners and their ability to increase their wealth has diminished. Charlene Crowell explains, â€Å"The domino effect of debt begins with a student loan and then delays the ability to qualify for a mortgage†¦the ability to gain wealth is limited if not stymied†. The domino effect is the main reason the majority of the black community is unable to reach the middle class. A college graduate in debt and not having the ability to pay their loans off in time because no jobs are available is the scenario for many blacks causing them to experience poverty. Julie Margetta Morgan says, â€Å"With high unemployment and underemployment and so few options for dealing with d ebt, it should come as no surprise that the delinquency rate on student loans is so high† (Morgan). The below average economic state of the United States doesn’t give African Americans the ability to successfully pay their debt back on time. Student loans are not only a detriment to African AmericansShow MoreRelatedStudent Loan Crisis Is A Crisis870 Words   |  4 Pagesthousand dollars in student loans. (Johnson, â€Å"Student Loans†) There is currently a debate about whether or not student loans are a crisis or if this crisis is just a myth. In the article, â€Å"Here’s Your Crisis: Student Loan Debt Isn’t A Myth,† it describes how student loans are a huge crisis, and the article, â€Å"The Myth of the Student Loan Crisis† is about how college students’ loans do not amount to a crisis. The student loan crisis is a legitimate problem, not a myth. College students do not realize theRead MoreThe Student Loan Debt Crisis1247 Words   |  5 Pages The Student Loan Debt Crisis Student loan debt has overtime become an unpleasant part of life for millions of Americans and especially borrowers. It is possible to identify the types of people who went through college and borrowed financial loans from those that went through college and did not go to college or those that went but did not borrow. The debt crisis directly affects the families of the borrowers, those with high debt burdens and advanced degrees. Despite the increased length in loanRead MoreThe Issue Of The Student Loan Crisis1762 Words   |  8 PagesAs of 2016, the average college graduate owes thirty-seven thousand dollars in loans (Glum). As a whole, Americans owe a grand total of 1.3 trillion dollars. These are figures that grow every year, and worse, the number of people who are defaulting on their payments grows as well. The issue of the student loan crisis is serious, which is why potential solutions are now being discussed. Presidential candidates for the election of 2016 have discussed so lutions that range from Hillary Clinton’s debt-freeRead MoreThe Student Loan Debt Crisis1873 Words   |  8 PagesCollege, originally deemed as the pointer to guaranteed employment, financial stability, and an indicator of success, has been declared in jeopardy. Topping the credit card debt and many household debts, the student loan debt has been pronounced the next potential financial disaster in the U.S. With 2014’s numbers currently exceeding $1.2 trillion, the debt figures have reached about twice of 2007’s remaining debt (Akers, 2014). Gone are the days when a parent could send a child to the state universityRead MoreStudent Loan Debt Crisis Essay1214 Words   |  5 PagesStudent Loan Debt Crisis What do you think of when you hear the words college graduate? Well, in most scenarios, these words would be exciting to someone that just graduated college who have put in years of hard work and dedication to better educate and promote themselves for their future careers. Sadly enough, this is too far common not the case. In today’s society, students are graduating college with piles of debt at an alarming rate. With a troubled economy that is recovering from a recessionRead MoreStudent Loan Debt Is A Financial Crisis1700 Words   |  7 Pagesincreases the pile of debt students may graduate with gets bigger and bigger. This problem is America’s next sizeable financial crisis, but this crisis however is avoidable. Student loan debt is a financial bubble waiting to blow up just as the housing market collapse did in 2007, which the country is only just now starting to see signs of recovery from. The cost of a four-year degree has seen increases that surpass inflation an d health care costs. Likewise, the amount of student loan debt is now greaterRead MoreThe Problem Of Student Loan Crisis1574 Words   |  7 PagesThe student loan trouble is surely a big problem in our society: college students are struggling giant quantities of student debt, and they re defaulting on that debt and making their potential to get admission to future credit score awful already. The procedures to student loan debt series are filled up with problems, in addition to wrong recovery strategies and critical concerning compensation alternatives. However, the recent public procedure discussions pass over among the key problems thatRead MoreShould Student Loan Debt Be A National Crisis?865 Words   |  4 PagesAlthough many people are considering student loan debt to be a national crisis, we must understand the reality behind it. Unfortunately not everyone is fortunate enough to make it through college without accumulating debt. In Robin Wilson’s essay, â€Å"A Lifeti me of Student Debt? Not Likely†, she makes a compelling argument that shows how students get involved with really high debt. She claims, â€Å"†¦the problem among students who go heavily into debt is that they are determined to attend their dream collegeRead MoreStudent Loan Crisis Research Paper1332 Words   |  6 PagesMore Affordable Many of the protesters occupying Wall Street and other places say they are upset about the rising price of going to college. There is little dispute today that the number of students who have debt has increased, and that the amount of money they have borrowed has gone up (Billitteri). Many students incur large amounts of debt that will never pay dividends in higher wages or greater job satisfaction, and they graduate into a world with weak employment prospects. Its a betrayal of theRead MoreStudent Loan Debt Is The Biggest Economic Crisis Or Threat?1755 Words   |  8 Pagesto the Consumer Financial Protection Bureau, student loan debt has reached a new milestone, crossing the $1.2 trillion mark — $1 trillion of that in federal student loan debt. Since 1993, the trend keeps getting higher and higher every year. Student loan debts has been showing a crippling effect on the economy as the debt gets deeper. Student loan debt is known to be the biggest economic crisis or threat. Although you might have not have any student loans, his huge debt could still impact your financial

Unconventional Monetary Policy System †Free Samples to Students

Question: Discuss about the Unconventional Monetary Policy System. Answer: Introduction: Government intervenes in the financial market through framing policies and imposing regulations. Economy is stimulated by employing simulative monetary policy by reducing unemployment rate and increasing economic growth. Money market securities are assets that are invested for short-term period with a maturity of one year or less than a year. Corporate bonds are securities that are issued by corporations for long-term on which owners are promised to be paid coupon payments on semiannual basis. IPO or Initial public offerings are the issuing of shares for the first time by company when they go public. Government intervenes in the financial market through framing policies and imposing regulations. Regulation and controlling of financial market is heavily influenced by government intervention that helps financial institutions in providing efficient financial services by minimizing riskiness. Aim of government to regulate financial market is to promote higher level of efficiency and protect public interest. Interest of investors and borrowers in financial market is protected by development of policies by government that helps in lowering transaction costs. Uniformity in financial market is established by implementation of developed policies by government (Kiley and Roberts 2017). Economy is stimulated by employing simulative monetary policy by reducing unemployment rate and increasing economic growth. It helps in stimulating without concerning about inflation as such policy would cause an increase in inflation. Business investment in an organization can increase by increase in supply of money due to employment of this policy (Neely 2015 pp.101-111). This leads to increase in supply compared to demand and thereby lowering interest and ultimately cost and debt and equity. It might happen that banks limit the credit even though the government increases level of bank funds. Banks in such situation might not be willing to extend credit and this would lead to lower interest and lower consumer spending (Becker and Ivashina2015 pp.1863-1902). Under such situation, inflation will be adversely affected and growth of money supply will be disrupted. Money market securities are assets that are invested for short-term period with a maturity of one year or less than a year. It is regarded as good place to invest funds for shorter time period. Some of securities that come in the category of money market securities are commercial paper, treasury bills, bankers acceptance and certificate of deposits and are issued by trustworthy and large organizations including government of United States. These assets carry relative low risks as compared to other assets and it make up the mainstream of money market securities that are traded in capital market. Since the maturity for these assets is short, they are generally regarded to be of high grade. Investors are provided with low return as low risks are associated with such assets. An investor investing in money market securities is provided with liquidity and they have the potential of higher yield compared to conventional cash such as through credit union and bank account (Cox et al. 2016). Bonds- Bonds are securities that are generally invested for long-term and are issued by corporations and government agencies. Periodic payment of interest is obligated to be paid by issuer of bond. Buying of bonds will be considered by investors for which the question of repayment is raised if the risks associated with it will be compensated by generation of sufficient funds. The flow of funds is facilitated by bond market and proceeds generated by issuing of bonds are used for supporting government programs deficit. Institutional participation in bond market- The macro structure of bond market is explained by involving institutions as development of such markets requires strong institutional support. The momentum of corporate bond market is sustained by steady and gradual development of framework of institutions. Tilting of scales of corporate bonds can be done by development of institutions. Financial institutions dominates bond market and active participation of institutions helps in effective functioning of bond market (Belongia and Ireland 2015). Bond yields-Bond yields are the amount of return generated to investors when they realize bond or when bonds are matured. Yield to maturity helps in measuring cost of financing of issuer. Treasury and federal agency bonds- A treasury bond is a fixed interest, marketable and debt security bond issues by government of United States. This type of bonds are issued for financing activities of government spending. Federal agency bonds are bonds that are issued by federal budget agency or they are sponsored by agency of US government. Maturity period of such bonds ranges from one year to forty years (Cukierman 2013 pp.373-384). Municipal bonds- Municipal bonds are issued by local and state government to finance the difference between revenues generated and spending of government. Revenue bonds and general obligation bonds are two types of bonds that are issued by state or local government. Corporate bonds are securities that are issued by corporations for long-term on which owners are promised to be paid coupon payments on semiannual basis. Maturity period of corporate bonds is generally between 10 to 30 years and the minimum denomination is $ 1000. Cost of financing corporate bond gets reduced as the interests that are paid to investors by corporation is tax deductible (Harford and Uysal 2014 pp.147-163). This is the reason why corporations finance their operations using corporate bonds. Issuing of bonds by corporations or firm enable them to restructure their asset and revise their assets by way of features and several benefits. Corporate bonds helps in lowering the overall weighted cost of capital. This is so because issuing of bonds increases the liabilities of issuer and this increases cost of debt. Increase in cost of debt provides organization is offset by benefits of tax deductibility. Therefore, firms are saving by falling cost of capital. Furthermore, issuing of corporate bonds can be used to finance purchase of assets if required by organization. Fall in overall cost of capital will lead changing minimizing of equities and debts for financing of firms (Shim et al. 2013 pp.26-33). Organizations are thereby able to revise their structure of capital. Corporate bond issuance by firms has indirect impact on weighted cost of capital. This is so because, financing the business by issuing cost will increase the total amount of liabilities as compared to issuing of equities. Moreover, benefits received in the form of tax deductibility on interest helps in lowering cost of capital. An organization willing to expand can use the money generated through issuing of bonds in purchasing assets (Kacperczyk and Schnabl 2013 pp.1073-1122). Initial public offerings- IPO or Initial public offerings are the issuing of shares for the first time by company when they go public. IPO also happens when an unlisted companies sells existing securities or issue new securities. Initial public offerings are generally issued by startup companies because they seek funding for their growth by raising of capital. IPO is considered attractive for organization as it helps in boosting their business growth. Process of going public- An organization intending to go public or issue IPO needs to undergo a specified process and steps. In the first step, investment bank is required to be selected. Secondly, regulatory filings and due diligence is to be performed by issuing company. In third step, offer price is determined by underwriter and issuing companies provided by underwriter any. Stabilization is provided by underwriter in fourth stage. Transition to market competition is the last and final stage of process of IPO (Valdez and Molyneux 2015). Underwriter efforts to ensure price stability- After issuing of stocks, underwriter creates market for stocks that have been issued along with after market stabilization. In the event of any imbalances, after market stabilization are carried out by underwriter by buying shares at below offering price or at offering price (Belongia et al., 2015 255-269). For instance, if stock demand is unexpectedly low, the extra shares in market place is bought back by underwriter and thereby assisting in price stabilization. Initial returns of IPOs- Initial return is the difference or variation between offer price and after math price after the day of trading. Initial returns generated by IPO fluctuate dramatically over time. Organizations whose value is difficult to estimate experiences higher volatility of returns. Abuses in the IPO market-Abuses in IPO market is of three types that comprise unlawful disclosure of insider information, insider information and manipulation of market. Unlawful disclosure arises when inside information is disclosed to any outside person expect in the normal course of their employment. Manipulation of market occurs outside trading venue that involves providing false and misleading signals and contracting financial instrument at abnormal price (Duygan et al. 2013 pp.715-737). Conclusion: From the above discussion, it can be concluded that government plays a significant role in regulating financial market institutions. Monetary policy helps in stimulating economy An investor investing in money market securities is provided with liquidity and they have the potential of higher yield compared to conventional cash such as through credit union and bank account. Looking at IPO process, underwriter plays a significant role in price stability and there are many abuses in such market. References list: Becker, B. and Ivashina, V., 2015. Reaching for yield in the bond market.The Journal of Finance,70(5), pp.1863-1902. Belongia, M.T. and Ireland, P.N., 2015. Interest rates and money in the measurement of monetary policy.Journal of Business Economic Statistics,33(2), pp.255-269. Cox, J.D., Hillman, R.W. and Langevoort, D.C., 2016.Securities regulation: cases and materials. Wolters Kluwer Law Business. Cukierman, A., 2013. Monetary policy and institutions before, during, and after the global financial crisis.Journal of Financial Stability,9(3), pp.373-384. Duygan?Bump, B., Parkinson, P., Rosengren, E., Suarez, G.A. and Willen, P., 2013. How Effective Were the Federal Reserve Emergency Liquidity Facilities? Evidence from the Asset?Backed Commercial Paper Money Market Mutual Fund Liquidity Facility.The Journal of Finance,68(2), pp.715-737. Harford, J. and Uysal, V.B., 2014. Bond market access and investment.Journal of Financial Economics,112(2), pp.147-163. Kacperczyk, M. and Schnabl, P., 2013. How safe are money market funds?.The Quarterly Journal of Economics,128(3), pp.1073-1122. Kidwell, D.S., Blackwell, D.W., Sias, R.W. and Whidbee, D.A., 2016.Financial institutions, markets, and money. John Wiley Sons. Kiley, M.T. and Roberts, J.M., 2017. Monetary policy in a low interest rate world.Brookings Papers on Economic Activity. Neely, C.J., 2015. Unconventional monetary policy had large international effects.Journal of Banking Finance,52, pp.101-111. Shim, S., Serido, J. and Tang, C., 2013. After the global financial crash: individual factors differentiating young adult consumers trust in banks and financial institutions.Journal of Retailing and Consumer Services,20(1), pp.26-33. Valdez, S. and Molyneux, P., 2015.An introduction to global financial markets. Palgrave Macmillan.

Efficient Market Hypothesis Pension Fund Managers

Question: Discuss about theEfficient Market Hypothesis for Pension Fund Managers. Answer: Introduction: The current study is concerned with evaluating the main functions of Chief Financial Officer (CFO) and also discuss the strategy of pension fund managers in the light of efficient market hypothesis. The role of CFO is crucial for any organization and efficiency of a CFO impacts organizational performance and thus the study discusses the impact of CFO roles on organizational objectives. The study further discusses the various aspects of efficient market hypothesis theory followed by an evaluation of the investment strategy pursued by pension fund managers. Discussion: The chief financial officer of a company is among the senior executives of the company whose main responsibility is to manage the financial actions of the company they are working for. The CFO also requires keeping a track on the financial strengths as well as weaknesses of the company and proposes the remedial measures. In the words of Hiebl (2015), it is the responsibility of a CFO to ensure the authenticity of the financial reports of the company. As observed by Sweeney (2013), the retail companies in Australia are facing a serious completion from their rival firms due to the emergence of many new companies. The Adairs Retail Group Pty Ltd currently operating in Australia has a series of retail stores across the country providing products of home dcor for sale. The company also provides the services through its online portals. Here, the responsibilities of a CFO are of paramount importance as a CFO has to manage the finances of the Adairs Retail Group Pty Ltd to get the best possible outcomes. The responsibilities of a CFO in Adairs Retail Group Pty Ltd can be sub divided into the following categories namely Responsibility as a Controller of the Company Accounting According to Liang and Chang (2014), it falls under the prime responsibility of a CFO to ensure that the presentation and reporting of the annual reports are accurate. The historical information of the reports of Adairs Retail Group should also be placed accurately as a lot of important decisions regarding the investment to be done by the shareholders, creditors; employees etc are dependent on the accuracy of the financial reports. It is also imperative that the accurate financial reports of Adairs Retail Group be published on time to make beneficial for the investors to choose between companies for investment. The CFO of Adairs Retail group is responsible to ensure the appropriation regarding the accounting allocations and its documentation. As observed by Hoitash et al. (2012), the CFO may also require undertaking the responsibility of cash management and keep a check on the cash disbursements, accounts payables and receivables along with the bank reconciliation and pay roll functions. Internal Control As opinioned by Proctor (2014), it is the responsibility of the CFO of Adairs Retail Group to construct and execute the financial strategies and accounting process. The CFO of the following company needs to review and approve the invoices that are to be paid along with the reports of the accounts receivables. In the words of Amato (2016), the CFO of Adairs Retail Group also requires coordinating with the auditors and external tax accountants in order to prepare the income tax structure of the company. In addition to that, the CFO of Adairs Retail Group will have to organize the records of the company in a manner that may make it easily accessible for the purpose of examination. Financial analyzing, planning and reporting Under this area of responsibility, the CFO of Adairs Retail group has to review all of the financial contracts, agreements and the financial policies along with the credit negotiation and the vendor agreements. As said by Friedman (2015), in order to frame the long term financial strategies it falls under the duty of a CFO to provide a comprehensive financial data. The CFO of Adairs Retail Group needs to ensure the coordination of the financial planning with the business operations. The financial analysis skills of the CFO of Adairs retail Group may also help the company to assist the decisions of policy making by the executive management. As observed by Agrawal et al. (2013), this indicated that the CFO also needs to be an expert in providing expert perspective and opinion regarding finances of Adairs retail Group. The CFO has to administer the finances and takeover the reporting duty in maintaining the financial statements and budgets of the company as well. Responsibility as a Treasurer of the Company In the words of Armstrong et al. (2016), the maintenance of the financial position and improving the financial condition of the company comes under the responsibility of the CFO. The capital structure of Adairs Retail Group has to be overseen by the CFO of the company. It is one of the major responsibilities of the CFO of the following company to determine the best possible mixture of the debt, equity and the internal finances. According to Bttner et al. (2013), one of the major treasurer functions of the CFO includes addressing the problems associated with the capital structure of Adairs Retail Group. In addition to the above responsibilities as a treasurer, the CFO of Adairs Retail Group will require coordinating the budgeting and investing activities in all parts of the company. In the words of Wright (2015), the rates of depreciation of the capitalized assets are determined by the CFO and the necessary advice is also given by the CFO of Adair Retail Group regarding the purchase and lease of the assets along with the disposal of the same. The CFO also provides the required guidelines for the use of the financial resources of Adairs Retail Group and the necessary steps to be taken in regard to the budget policies and procedures of the same. Along with the above mentioned responsibilities, the CFO of Adairs Retail groups monitor the performance of the financial staffs and recommend actions to be taken in context of the promotion or dismissal of the same. Responsibility of Forecasting Economic Strategies The CFO of Adairs Retail Group plays an essential part in the future financial situation of the company. in the words of Barsky and Catanach (2013), the identification of the areas in which the company is most efficient and the ways in which the company can capitalize from this is determined by the CFO of the company. The CFO also makes future predictions and allocates the resources of the company similarly to ensure the future success of Adairs Retail Group. In addition to this, according to Six et al. (2013), the CFO requires to coordinate the data and the analysis of it throughout the workings of the company to identify the possibility of the occurrence of risks and expansion opportunities. The CFO does an analysis of the new markets in order to expand the business to a new level. The internal and financial control systems are also formulated by the CFO of Adairs Retail Group. The management of the company also gets subsequent support in the development of the growth strategies by analyzing the economic as well as industry trends. According to Habib and Hossain (2013), it is the duty of the CFO of Adairs Retail Group to keep a check on the ongoing performance of the company regarding its growth and accomplishment of the objectives of the company and taking the appropriate measures to ensure that the company is meeting its organizational goals. The submission of the annual reports of the company on the prescribed time is also looked upon and ensured by the CFO of Adairs Retail Group. Above all, the CFO has to manage the financial reporting done by the company both internally as well as externally. The Chief Finance Officer or CFO of a company helps in shaping the business and increase the integration of the company in the global economy. As per the view of RW Hiebl and Feldbauer-Durstmller (2014), the duty performed by the CFO of a company of being a controller, treasurer as well as of forecaster helps the company in determining through the financials of the company about the growth of the same and how far the company is able to fulfill the objectives. As a controller, the CFO looks upon the financial reports of the company and through a brief analysis of it draws a outcome of the areas in which the company may withdraw maximum revenue. This helps in meeting the basic objective of Adairs Retail Group that is to generate the maximum amount of profits. As observed by Bishop et al. (2014), in the form of a treasurer, the CFO helps in the proper allocation of the resources of the company that may reduce the cost of production and other expenses incurred by the company that in turn may reduce the cost of productivity incurred by the company and increase the profit margin of the product thus fulfilling the basic objective of the company. The CFO of Adairs Retail Group also does an extensive analysis of the industry in which the company is operating along with the market structure of the same. The purpose of analyzing is to identify the areas of growth of the company and make strategic plans as well as prepare to face the increasing completion in the market that may help the company to sustain in the long run. It is one of the major objectives of Adairs Retail Group to face the rise in competition and expend its growth throughout the industry. Efficient Market Hypothesis (EMH) is a popular theory in corporate finance which holds that it is not possible to beat the market as stock market efficiency makes the current stock prices to incorporate and indicate all relevant information. As per the theory, stocks always get traded at the fair value in the stock market which further makes it impossible for the investors to sell stocks of inflated price and buy undervalued stocks. Therefore, the theory suggests that it is impossible to outperform the stock market by way of market timings or stock selection by market experts. In this context, Habib and Hossain (2013) stated that the EMH theory observes that the only way to beat the market is by investing in high risk stocks to earn higher returns. The EMH theory has major impacts on portfolio managers, pension fund managers and others. The EMH theory is undoubtedly a cornerstone in advanced financial theory however it has also raised certain controversies. Pension fund managers supporting this theory think that it is meaningless to look out for undervalued stocks or try to predict trends in market by way of technical or fundamental analysis. However, it is important to note that there has been investors who have been able to beat the market consistently over the years. For example, Warren Buffet had beaten the stock market to earn more than average returns which as per the EMH theory is not possible. Similarly, during the stock market crash in the year 1987, Dow Jones Industrial Average (DJIA) got reduced by 20% on a single day which indicates that in contrast to the EMH theory stock prices can get reduced from fair values. Pension fund managers can focus on low cost portfolio with a passive investment strategy. Most of the pension fund managers pursuing EMH theory are more concerned with portfolio diversification, passive investment strategy and total market index as a benchmark for performance. The pension fund managers think that there is no way of knowing the future performance of a company not even by studying past performance. This makes the pension fund managers to play safe and apply passive investment strategy for the clients. Portfolio for the clients is also developed accordingly. In this context, Hoitash et al. (2012) stated that passive investment strategy involves buying and holding stocks for a long-term period to earn good returns thereon. Another important aspect in this regard is that the pension fund managers believe that buying and holding stocks for a long-term period automatically sets-off short-term market inefficiencies. On the contrary, the market might not always be efficient as held by the EMH theory. Pension funds often try to avoid small cap stocks. This is mainly because of the additional requirements associated with such stocks. On the other hand, it is also a practice of the pension fund managers to sell-off stocks that no longer meet the investment objectives regardless of its current state of performance level. Thus, the main focus of pension fund managers is on fulfilling clients pension objectives. The strategy is on creating a fixed flow of income post retirement of the clients. Conclusion: sThe study indicated that controlling organizational activities, treasury management and forecasting are the three major functions of a CFO. It was observed during the study that a CFO is entrusted with the responsibility of maintaining integrity in all financial reporting and ensuring proper compliance of the same to statutory norms. On the other hand, CFOs are required to maintain optimum cash and liquidity level in the organization at any point of time and that forecasting financial benefits risks is a key part of the CFOs roles. 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