How Are the Iais Principles Met with in the Mauritian Legislation on Insuranc

UNIVERSITY OF MAURITIUS FACULTY OF LAW AND MANAGEMENT SECOND SEMESTER EXAMINATIONS MAY 2009 PROGRAMME BSc (Hons) Accounting with Finance – Level 3, 4 BSc (Hons) Finance – Level 3 BSc (Hons) Finance with Law – Level 3 MODULE NAME DATE International Finance Wednesday MODULE CODE DFA3006Y(5) 6 May 2009 TIME 9. 30-12. 30 Hours NO. OF QUESTIONS SET 6 DURATION NO. OF QUESTIONS TO BE ATTEMPTED 3 Hours 4 INSTRUCTIONS TO CANDIDATES This paper consists of SIX Questions and you are required to answer ANY FOUR (4) Questions International Finance – DFA3006Y Question 1 a) (i) Explain the term â€Å" foreign exchange exposure† in relation to the operations of a multinational enterprise. [5 marks] ( ii ) How are such exposures usually handled by management? [9 marks] (b) Seattle Inc is a medical device manufacturer. The company’s annual sales of $ 40m have been growing rapidly, and working capital financing is a common source of concern. The Chief Finance Of ficer, Martin Bell has recently been approached by one of the company’s major Japanese customers, Yosaka, with a new payment proposal. Yosaka typically orders ? 12. million in product every other month and pays in Japanese yen. The current payment terms extended by Seattle Inc are 30 days, with no discounts given for early or cash payment. Yosaka has suggested that it would be willing to pay in cash (in Japanese yen) if it were given a 3. 0 % discount on the purchase price. On the basis of the information below: Spot rate 30-day forward rate 90-day forward rate 180-day forward rate ? 96. 60/$ Yosaka’s Weighted average cost of capital ? 99. 08/$ Seattle Inc Weighted average cost of capital ?100. 42/$ ?103. 56/$ 9. 00% 11. 95%Advise Martin Bell on Yosaka’s proposition, assuming that Seattle Inc hedges all its foreign currency transactions. (c ) [8 marks] Calculate the rate of forward premium of the US $ on the 180-day forward rate. [3 marks] [Total marks : 25] Pag e 1 of 3 International Finance – DFA3006Y Question 2 â€Å"When the financial systems fail, everyone suffers† – Edward Carr, The Economist. (a) Explain the importance of regulations in a financial system. [15 marks] (b) In the wake of the financial crisis that has shaken America and Europe, do you think regulators have failed in their role? 10 marks] [Total marks : 25 ] Question 3 (a) Briefly outline the disadvantages of a fixed exchange rate regime? [6 marks] (b) Explain the following terms: (i) Special Drawing Right ( SDR ) ( ii ) Currency board arrangement ( iii ) Euro currency ( iv ) Dollarisation [12 marks] (c) The Thai baht was devalued by the Thai government from Bt 25/$ to Bt 29/$ in July 1997. Calculate the devaluation of the baht against the US dollar [3 marks] (d) Explain the difference between devaluation and depreciation of a currency. [4 marks] [Total marks : 25] Page 2 of 3International Finance – DFA3006Y Question 4 (a) Do you think free in ternational capital mobility is desirable for emerging economies? [15 marks] (b) Explain how an active secondary market for securities can be beneficial to: ( i ) lenders ( ii ) borrowers [10 marks] [Total marks : 25 ] Question 5 (a) Outline the main summary statements of the balance of payments accounts and explain briefly their economic significance. [10 marks] (b) How can flows of ‘laundered’ money from drug trade or international terrorist activities find their way into the Balance of Payments? [5 marks] (c)How can such illegal flows be avoided if a country wants to be perceived as a â€Å"clean† financial centre? [10 marks] [Total marks: 25] Question 6 (a) As a firm evolves, domestic operations are no longer adequate to sustain further development, and the firm seeks other avenues of growth. Outline the considerations that need to be taken if the firm is contemplating a strategic alliance with a foreign partner. [15 marks] (b) Explain the difference between â€Å"internal† financing and â€Å"external† financing† for a foreign subsidiary and give two examples of internal financing. [10 marks] [Total marks : 25] -END OF QUESTION PAPER- Page 3 of 3

Gift-Giving Guide for College Students

Gift-Giving Guide for College Students Gift-giving as a college student can be complicated. Of course, youd love to treat all of your friends and family to big, beautiful gifts ... but your budget and time restrictions often prevent doing so. What options are there, then, for college students who want to give great gifts without seeming cheap or lazy? Gifts Based on Recipients Great Gifts for Your College Boyfriend or Girlfriend. Its hard to come up with a meaningful, reasonably priced, personal gift for your significant other.Gifts for a College Roommate. A college roommate is like no one else; after all, what other person knows so much about you, puts up with your ridiculousness, and lets you eat their cereal when youre meal plan runs out? Whether its for a roommate birthday or the holidays, make sure you get something unique for this important person in your life.General Gift Ideas for Moms. Be it for Mothers Day or her birthday, getting a gift for Mom  is a must-do. Dont forget to make a phone call if youre away at school on the big day, too!Gifts for Your Siblings. You may have been incredibly close to your siblings before you left for school, or you may have been glad to have them no longer annoying you at the dinner table. Either way, forgetting a gift for your sibling can be an unforgivable offense! Gifts Based on Situations Low-Cost Gift Ideas. Regardless of whom your gift is for, it needs to fit within your budget. Thoughtful low-cost gifts will make you look anything but cheap.Last-Minute Gift Ideas. Alright, so your friends/roommates/brothers birthday totally sneaked up on you. Last-minute gift ideas based on someones hobby or creative outlet can help cover your oops-I-nearly-forgot tracks.Unique Valentines Day Gifts. With so much hype, it can be hard to come up with gift ideas for Valentines Day that are original and inexpensive.College Graduation Gift Ideas. Graduation season can get so chaotic that its easy to forget to get a college graduation gift that adequately celebrates this major milestone.

Molar Heat Capacity Definition and Examples

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Vygotskys Socio-Cultural Theory Case Study Example | Topics and Well Written Essays - 1250 words

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Electrical Rotary Actuators Essay Example | Topics and Well Written Essays - 2000 words

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Blind Date Script Essay Example for Free

Blind Date Script Essay Far From The Madding Crowd Blind Date Script. Graham: Its Blind Date! And here is your host, Miss Cilla Black! Cilla: Hello ladies and gentlemen, and welcome to Blind Date. In a moment well be meeting the lucky lady who gets to pick from one of these gorgeous guys! So, lets meet the boys! So, hello number 1; whats your name and where do you come from? Bo: Good Evening, Cilla. My name is William Boldwood, and I am from Weatherbury. C: Nice to meet you, William. So tell everyone a bit about yourself. Bo: Well, Cilla, I am a 42 year old bachelor, I own a large farm, and. Im incredibly wealthy! C: And, I understand, correct me if Im wrong love, that you have had a nasty experience involving a Valentines card? Bo: That is correct, Cilla. I once received a Valentines card through in the mail, and I had no idea who the sender was. I was a little afraid, you see, it could have been anything. So, I erm, placed it on my mantelpiece. Well, then I couldnt stop thinking of it, so I stared at it for quite some time. C: How long for, love? Bo: For a matter of days, Cilla. C: Oh dear. Well I for one am always scared when the postman comes, I mean, when them bills get posted through my door I know Im too terrified to open them for a week! C: Alright love, well, best of luck tonight, and please dont be scared of the date cards if youre picked cause weve only got so long, you know. Okay, number two, whats your name and where do you come from? T: Hello, Cilla, my love, my names Frank Troy and Im from Weatherbury too! C: Hiya Frank. Tell us all a bit about yourself, love. T: Well, Im 31, Im a Sergeant in the Army, so I travel a lot, and I enjoy sword fighting, so I spend a lot of my spare time practising that, and, Im quite skilled if I may say so myself. C: Oh really? Come on, then. Show us some moves! (Troy shows off with sword techniques). C: Wow, I wouldnt want to be on the receiving end of that lot! Eh, thanks very much love, well done. Best of luck tonight, but if you win, leave the sword at home, wont you? Hello number three, whats your name and where do you come from? O: Eh Cilla, me names Gabriel Oak an I be from Weatherbury as well. C: Hiya, chuck, why dont you tell everyone a bit about yourself? O: Well, Im 28 an I work on a farm in Weatherbury, Cilla. C: And I heard that you used to own your own farm, is that right? O: Ay, that be correct, Cilla, I used to ave some lovely little sheepies, but, sadly, most of em died in a tragic accident. C: Awwwwww (Sympathy) O: Yer, so maybe, even though I dont ave a lot, shell still be willing to ave me. Then Ill know she be genuine an all that. An it could get me a few sympathy votes as well, But I wont let on until after the show, just in case. C: A man with a plan! Well, you probably wont even need to use the sheep story Gabriel, Im sure youll be fine. And may the best fella win. Good luck to all of you. Now, guys and girls, lets meet the lucky lady who gets her pick of one of these gorgeous guys! (Bathsheba enters) C: Hello love, and you are Bathsheba, is that right? B: Yes Cilla, thats right. C: And where are you from, Bathsheba love? B: Im from Weatherbury Cilla. C: Oh I didnt see that one coming. Now, what sort of thing are you looking for, and hoping to find tonight in one of our top-class bachelors? B: Well, Im looking for someone who will flatter me but also stand up to me. Im very independent. C: Oh, thats right, you own a farm, dont you? B: I do indeed, Cilla. C: Well, lets hope those three blokes over there stand up to you more than your farm animals do. And lets hope they smell better an all. B: well I wont know until the date, but lets hope so. C: Alright love. Lets get on with your three questions then. Fire away! B: Hello boys! ALL: Hello Bathsheba! B: Okay, my first question is; If I was an animal, I would be a tiger, because I could definitely use a little taming. If you were an animal, what would you be, and why? That goes to number 1, please. Bo: Well, Bathsheba, I would be a snake, a boa constrictor, so I would be able to wrap myself around you, and squeeze you as tight as I can. B: And to number 2, please. T: Well, I would be a fox, most obviously because of my red coat, but also because I hunt my prey and always get what I want. B: And, lastly, to number 3, please. O: Well, I would probably be a sheep, because, apart from being cute n cuddly, I would follow you round as a sheep does and always be with you. B: Okay, 2nd question. If I were a type of food, I would be a curry, because I am hot and spicy! What food would you be, and why? That is to number 2, please. T: Well, I would be Egg and Soldiers, so you could have a dip in me anytime! B: And to number 3, please. O: Okay, if I was a food, I would be Shepherds Pie, because I be a shepherd, and I be warm, tasty and simple. So, heat me up, and itll be dinner for two. B: And lastly, to number 1, please. Bo: If I was a sort of food, I would most certainly be Toad in the hole, because once you dig down to my deep centre and kiss the toad, I would be your handsome prince. B: And my last question is; I am a woman who likes to be pampered and showered with gifts. If you could give me one thing, what would it be and why? To number 3, please. O: Well, I dont ave a lot, you see, but I would give you my heart of gold, because that be all I wantin in return. B: And to number 1, please. Bo: I would give you anything you want, anything your heart desires. And the greatest gift any woman could wish for ME! B: And last but not least, to number 2, please. T: I would give you the sheath to my prized possession, my sword, because then I would be allowed to put my things inside yours. C: Oh well, Bathsheba, thats all your questions. But dont make your mind up yet, heres a bit of help from Our Graham! G: So Bathsheba, will it be Toady number 1, who will give you himself and squeeze you tightly, just dont send him any mail! Or, will it be foxy number 2, who likes nothing better than putting on his Soldier coat and doing sword tricks just keep the toast away from his yolk. Or, will you decide on warm and simple number 3, and if on your date his sheepy antics get on your nerves, you could always sell that gold heart he gave you. THE DECISION IS YOURS! C: So who will it be love 1, 2 or 3? B: Im going to have to go with number 3, Cilla. C: Oh, but what about the two you turned down? (introduces Troy, then Boldwood they leave) C: So here is your Blind Date, you picked number one, that was Gabriel Oak from Weatherbury come in Gabriel! (Gabriel and Bathsheba meet) C: Alright, are you pleased? (Both nod). Okay then, lets pick a date! Which one will be picking? O: Ill let the lovely lady here pick. (Bathsheba picks) B: A sightseeing trip to London! (Hands envelope to Cilla) C: It says here that the two of you will be seeing all the sights of the Famous London! Have either of you been there before? (both say no). Good. Then after that, youll be shopping til you drop and then staying in a luxury hotel! It says here lets hope that the two of you arent calling each other pigs by the end of the week! Okay, lets have a round of applause for Bathsheba and Gabriel!