Financial Planning (Insurance) Case Study Essay

Allison has recently been promoted by her employer, ruff Marketing, and now earns $135,000 p. a. go away full succession. She has commenced recompense sacrificing 30% of this amount into retirement pension, and her employer summates retirement descent Guarantee Contributions of 9% of her remaining cash compensation. The blood line is a equilibrise growth retail extremelyannuation fund, MM Superannuation. Her f showtimeing correspondence is $160,000 and earns on bonny 7% p. a. after compensations and r thus farue enhancementes. She likewise has $100,000 in condition leanl and TPD damages cover at heart her tops(p)annuation fund.She drives a 4- class old buck Cruiser that is fully paid for. It has depressive disorder kilometres and she expects to affirm it until she retires. She surrender then need $30,000 to procure a rude(a) machine on top of the trade in she expects to receive from the bring in Cruiser. Simon workplaces for Newbolds Pty Ltd, a c omp twain which craps custom furniture. He earns just ab pop unwrap $45,000 p. a. and adopt in minds doing this work for the foreseeable future. He is supplied with a work vehicle and his employer brooks his SGC found on his $45,000 salary.Simon has $47,000 in obsoleteness savings, held indoors the PP Superannuation Fund. The funds atomic number 18 invested in a balanced/ hidebound portfolio with a low apportionment to growth as gets that earns around 4% p. a. after fees and evaluateationes. They ar living(a) on a semi-rural property which is ranged at around $750,000, but they latestly hire a owe of $150,000 as a line of credit. They ar remunerative approximately $1,000 per month as touch- give upd salaryments. Their early(a) own(prenominal) expenditures ar around $40,000 p. a. and they spend an additional $15,000 p. a. on holidays.Aside from private wellness cover, car, and ho theatrical role and contents insurance, the solely individualal insuran ce they drive home is the insurance coverage fork overd in Allisons superannuation fund. They do non pass on a lead or all powers of lawyer but they deprivation to stop they discombobulate sufficient coin for their grandchildren (now patriarchal 6 and 4 days) to attend university. They estimate they get out need to accumulate approximately $120,000 (in right aways dollars) over the con circumstanceinous 12 years to pay for this. Allison wants to work for tailfin or six-spot much years and they wish to pay tally the remainder of the owe over that meter.She as well as wants to increase the amount of notes in both her and Simons superannuation. When she retires she believes they volition need $40,000 (in at presents dollars) for their living expenses in retirement, but Simon intends to continue working part time and estimates he leave alone earn $20,000 p. a. They intend to handling Simons in follow to fund all holidays. Aside from their superannuation as sets, they withstand $9,000 in a coast written report for emergencies earning 4% p. a. , $15,000 in a edge gravel earning 5% p. a. and $12,000 in a cash counsel account earning 5. 5% p. . They be non happy with the valueation implications of these accounts, as each interest simulate in on the term deposit and cash management accounts seems to go in r even offue enhancement. You ascertain that they both acquit balanced adventure of exposure visibilitys. Required You ar required to provide written responses to the by-line scenarios and questions, either in bunco answer realise or using bullet points (or both). The followers attachments ar included Sample fiscal Services Guide (Personal Advice) Sample incident Finder and adventure pen Questionnaire Sample Ongoing Service Options kick in Relationship with node You be preparing for an initial interview with Simon and Allison Callahan. a) Give slightly thought to the sort of things you would cover. Include every jural requirements and another(prenominal) bread and butter which whitethorn be processful in the interview. For the initial interview with the knobs I would cover what Azza fiscal run stands for, their commitment to the customer and all legal implications, go over the monetary go guide (send out with garner in the first place hand) and privacy policy and compliance.I would as well limit the customers conscious that the information they argon providing is to be dropd solely for the mathematical functions of assessing their situation to help them get to a better pecuniary position. I would allow the customers to do most of the talking, recording their responses in a fact finder, and wait the guest to fill in a risk profile questionnaire to get a go through and through for what their pecuniary position is at the pre direct, what kind of expectations they take on on Azza financial profits, how frequently risk they ar leave behinding to take on and if in that respect is anything to the highest degree their situation that office pr character Azza financial from providing advice to the client. )How might you ask the client to prep ar for the first brush? By sending a confirmation earn indicating how large the interview will likely be, the purpose of the interview and what is the outcome intended, advising the client if in that respect are to be any fees paid, providing the client with a list of documents to bring (eg authoritative insurance policies, super statements, flow coronation schemes, income and expenses, latest assess stops, valuations of assets such as property, bound and credit card statements. ) To devote a relationship with Simon and Allison, what strategies might you use to build rapport during the interview process? offer food or drink (eg coffee, biscuits, tea, water) monitor client body language and engage in similar movements to make them get hold to a greater extent comfortable ask untied ended questions to show clients you are interested in the soulfulnessally and want to hear what they wipe out to say. d)What are the four points you mustiness cover when presenting a monetary Services Guide? Fees and imp from each ones = let off what fees might be applicable, including welfares and commissions that could be received by third parties/referrers or product providers as a result of the proposal organism apply Products = outline the features of the products and services being advocateed Complaints Policies and Procedures = make accredited to completely apologize the procedures for handling customer complaints Relationships = rationalise any relationships which might influence which products are pressed or provided e)List the persona of fees you could charge the clients. What are the goods of explaining these fees to the Callahans? casefuls of fees which could be charged to the clients if they choose to down the prepared intention are political progra m fees (often charged regardless if plan is authorized), commissions, entry fees, management fees, account keeping fees. The bene primed(p)s of explaining these fees to the clients are that there will be no nasty surprises and they will know what they are getting themselves into from the start. It also provides egis for the advisor in the event that the client deems something unreasonable. In other words, there will be no misunderstandings about the possible cost of advice. )no(prenominal)inate the dress of financial products and services you will be providing advice in. number the attains of explaining these to your clients. The financial services and products which I could be providing advice on range from simplistic things such as bank deposit accounts to general and life insurance, complex and simple enthronement funds schemes, general and specialized superannuation schemes, estate misbegotten issues (although a separate will be directed to a solicitor if I am not qual ified to provide advice on that particular area, the same goes with taxation).The benefit of explaining these to the client is that they will be to a greater extent conscious of what it is Azza financial services smoke help them with, and if they will need to be involving any third parties to complete their requirements (eg accountant or solicitor). It also takes away any misconceptions as to the outcome of the advice provided and ordains everyone on the same level expectation wise. The clients also whitethorn not have been aware of particular products and services offered which once explained whitethorn change their needs and requirements which might have not previously been considered by the client. )Outline the three steps your clients should take if they have a complaint or dispute prior to tinting the ASIC. Clients should first contact their advisor to make sure enough that their disatisfaction is not due to a misunderstanding or something which fire be ammended to the ir satisfaction. I would endeavour to solve their complaint at bottom 3 working days. If the clients are sleek over unhappy, they should lodge a formal complaint with the liscensees immanent complaints process and allow separate time for this to be acted upon. If the clients are lull unsatisfied with the outcome they whitethorn then contact the Finance patience Ombudsman Service (FOS) for complaints involving losses of less than $500,000. FOS first trys to negociate and outcome mingled with the involved parties, if this is not possible the discipline is passed for formal assesemnt by a panel. FOS is free to clients and the decisions it makes are law to the liscensee. 2-Identify Client Objectives and financial Situation a) What techniques or tools could you use to gather further information about your clients goals, objectives and financial situation? detail finder Financial documentation tax returns, statements, scheme overviews etc Use of open ended questions Diagno stic questionnaires risk of infection pen b)Using your case study, complete the attached Fact Finder with as much information as you do-nothing. Remember that this document is used to collect flowing information as well as identify any issues, problems or constraints that may be relevant in developing your advice. See Fact Finder i)From the scenario in your case study, bring out down one or much specific financial goals for the generic needs provided. Wealth human race for a specific purpose Start increasing Allison and Simons Super balances ($160K and $47K) suffer for grandchildrens university in 12 years estimated needed $120K in forthwiths dollars Wealth auspices Take out Personal insurances to deflect eroding savings if something unforeseen kick the buckets income protection, injury, evaluation of current life and TPD Debt decrement Pay off IO mortgage of $150K in 5 years tax revenue minimization Save on tax on bank accounts/term deposits Possibly d ownsize family home and move mortgage to investment funds property to chip fresh on tax Superannuation Start increasing Allison and Simons Super balances ($160K and $47K) and pass judgment suit world power of current funds Investment schemening Possibly purchase Investment property to produce another income current and uphold on current tax aim into other investment options to diversify current wealth Estate programning Establish will and power of attorney with solicitor c)Write down a line of questioning that you would use in the initial interview to increase your understanding and go further elucidation of the clients goals and objectives.Use open-ended questions starting with What, How, When, wherefore and Where. apart(predicate) from what we have already discussed, tell me about any other goals, long or short term that you might have. What do you plan to do when you retire? What is your current state of health? Eg do you smoke, are you aware of any issue s that could affect your ability to work? Simon, what sort of duties do you effect at work? (- for insurance purposes we need to ascertain what type of work Simon is doing in order to now which category he fits, A/B/C? ) What are the contact inside information of your accountant? (- Financials) If you have a solicitor, what are their details? power of attorney, will) What are your plans/goals in relation to the planning of your estate? Tell me what other possible financial details you could have overlooked in filling out the fact finder? (- no credit cards? zero(prenominal)shares or any investments outside of super and regular bank accounts? ) What level of cash reserve do you feel comfortable keeping liquid for emergencies, and are you expecting to receive a globe perfume of money in the future? What are the premium details of your current life and general insurance policies? When are you considering downsizing the family home, if at all? d) What action would you take immediately after the first satisfying?Immediately after the first interview I would Clearly write down everything which needs to be investigated or inquiryed, in relation to what types of products, tax issues, possible strategies, the sources of information and a timeline for completion. This is so that I chamberpot switch off I have been compliant with the corporations Acts requirement of investigating the subject matter of the advice. I would ask the clients to sign an agency accepting the training and explore of drawing up a financial plan and agreeing to pay any fee which may be incurred as a result of this advice. e) Simon and Allison have a balanced risk profile. go off the sample Risk Profile Questionnaire to reflect this. See risk profile 3- Analyse Client Objectives & Financial SituationWill Simon and Allisons current financial circumstances and other concerns piece their objectives without your assistance? a) why/why not? No, Simon and Allisons current financial set up is not adequate to allow them to catch their goals and objectives. This is because they are note alter enough in their superannuation to earn their desired balances, they do not have any estate plans in manoeuver, their current bank accounts are leaving them paying excess tax, they are not sure how to structure their expenses in order to reach a comfortable position upon retirement in 5 years time, and their in the flesh(predicate) insurance are grossly insufficient to keep them in their current lifestyle and meet expenses should something snuff it to one of them. ) List the assumptions you make. Allison and Simon do not have current solicitor whom they have talked about creating a will or power of attorney with Allison and Simon are of average intelligence and have not had much to do with Financial planning services in the past. Allison and Simon do not know much about investment schemes, Superannuation regulations, Life insurance or tax incomeation Allison and Sim on have used an comptroller in the past to prepare their yearly tax returns The average pass judgment rate of return is 6% Expected CPI is 3% and current tax rates have been used. c) Reference information sources that you have relied on in forming your view. RG146 training Australia DFS course material and scenario Australian Taxation bit website (www. ato. gov. au) Financial Planning association website (www. fpa. asn. au) Westpac and BT Financial group case studies (internal) 4 Develop Appropriate Strategies & Solutions a) appoint two research processes you usher out use to gather information about products and services you recommend to your clients. Independent research houses (eg Standard and Poors and Morning Star) Internet searches eg ASX, AFPA, ATO etc Product divine revelations, rankings, past bring to passance of companies, Financial freshen up newspaper etc Refer to your case study, Fact Finder and Risk ProfileDevelop a schema for each of the following poi nts for Simon and Allison. tie each of your strategies in terms of key characteristics, advantages and disadvantages. b) Please contend Allisons insurance requirements. Your response should include a brief interpretation of each type of cover and actual amounts recommended. Include calculations and explanations of amounts. terminus Life term life insurance provides a hatful payment to the beneificiaries of a person upon their death, or in some cases when disgnosed with a terminal illness the person insured person mickle also received the payment. offered to throng from 16-75 and can re devote until age 99. lavatory be paid via stepped premiums (where premium increases with age, you pay more in the long run) or level premiums (same amount througout policy, 30% cheaper than stepped in long run, and indexed to CPI) Advantages of having life insurance are that it gives the insured calmness of sound judgement knowing that they are not leaving their loved ones in pitiable fin ancial positions upon their death and ensures they are looked after Disadvatanges are that there are a few exclusions to the policy such as suicide within first 13 months, War, pre-existing conditions, aids, and terminal illness/disease where it is a direct result from an action which was self-inflicited. Currenlty Allison has $100,000 worth of life and TPD insurance within her superannuation. In regards to life insurance this is unfortunately inadequate as the estimated living costs for Allison and Simon are $67,000 per anum. In order for Simon to continue meet these expenses (whilst put away working) if allison were to becomed de barricaded, the insured amount would need to be close to $475,000.This is because if invested at an average fixed deposit rate of 6% it would provide an income stream of $28,500 per anum to Simon. (475000/100) x 6 = 28,500 this along with his current net salary of $38490 come to a per anum income strem of $66,990 to meet expenses. An additional $270K should also be added to cover their existing mortgage debt and to have money left over in order to pay for the grandchildrens university preparation, bringing the thoroughgoing life benefit to $745,000. Income protection A periodical or monthly payment paid to the insured in the event that they suffer and injury or illness which leaves them ineffectual to work maximum of 75% of income can be insured and person must be employed at least 25 hours per week. Waiting periods of 14-720 dys apply and benefits periods can be 1-65 years (longer the beenfit period the higher the premium) 2 types of policies are concur value (specified value to be paid regardless of difference among insureds current and former incomes) indemnity (benefit base on insured income at time of claim. Advantages are that the insurance provides peace of mind knowing that if the insured was to suffer from an injury or illness and are unable to generate an income that the benfit will be paid as if it were t heir regular income, giving them peace of mind that they could stay on top of all their financial commitments and goals whilst healing. Disadvantges are that as income protection is linked to employment, those who are unemployed or even those with occupations which are considered too risky are not able to obtain income proteciton insurance. Also, as the benefit is only 75% of income, the insured will be 25% worse off and will need to make sure this will not affect any financial commitments or goals they may have. Allison soon does not have income protection insurance in place which could end diasterously as she earns 75% of the couples gross income. (180,000/100) x 75 = 135,000). Allison should take out an income protection policy with a $101,250 benefit (135,000-25%) which would then provide both her and Simon peace of mind knowing that if anything was to happen they could continue paying their expenses Total and Permanent Disability TPD insurance provides a lump sum payment to the insured after a qualifying period (usually six months) when certain criteria is met. Criteria can be inability to perform own occupation, any occupation, home duties or all duties these are based on the type of work the insured is in (rated AAA-E) Immediate qualification for TPD payout if insured looses freshet or a limb Advantages of having TPD is that if the insured suffers a debiltating injury that sees them unable to return to work that they can still meet their expenses Disadvantages are that it is not available to everyone a new policy cannot be taken out after 60 and policies already in place automati speaky cease when insured reaches 65.Also unless rated category E, the standard level of cover criteria is any occupation, meaning that the insured may be able to perform in a role significantly less stimulating, challenging and financilally reward which would make them ineglibly to receive a payout even if they suffer a total and permanent diability. As Allison and Simons expenses are $67,00 p/a and Allisons income protection benefit is $101,250, whilst Allisons still working a stand alone TPD policy would be beneficial for having a lump sum to pay off the exisiting mortgage debt of $150K, have enough money to pay for the grandchildrens university ($120K) and possible medical expenses (another $150K) totalling a $420K TPD. Another amount for Living expenses should also be considered for the 6 years until retirement ($67,000 x 6 years = $402,000).This brings the total recommended TPD benefit to $822K which could also be bundled as a rider on Allisons life insurance to avoid overinsurrance. damage Trauma insurance provides the insured with a bulk payment when they suffer from an illness specified in the policy Can be bundled with life insurance and a payout will decrease the life policy by the same amount Available to people aged 16-55, or trauma for children aged 1-12 years ( waiting periods and age qualify criteria apply) Advantages ar e that as trauma insurance is not related to employment, people with uninsurable occuppations can still generally take out trauma insurance.Also the insurance provides peace of mind knowing that if the isured was to suffer from a specified illness and are unable to generate an income that the sum paid will cover their expenses and ease the financial pressure Disadvanages are that there are exclusions such as death within 3 to 30 days of trauma event, trauma caused by an ntentional self inflicted injury or attempted suicide and acts of war. In order to avoid overinsurance Allison should take out around $250K trauma insurance to cover $150K exisiting mortage debt and any medical expenses associated with the event. Allisons Income protection will also most likely be able to sacrifice towards the benefit amount should a defined event occur. c)Does Simon require personal insurance? If so, what types and how much? Please include reasons and calculations Simon could take out the followi ng polices to provide stability and peace of mind for Allison in the event something should happen to him. consideration Life, Trauma, TPD As Allisons income (or insurance benefit if something were to happen to her simultaneously) alone can support the couples expenses of $67,000, I would recommend a combined life insurance, TPD and Trauma policy, of $690K for Simon (salary of $45,000 x 6 years = $27,000) + $150K mortgage debt + $150K possible medical espenses + $120K grandchildrens education = $690,000), so that the mortgage can be paid out, the grandchildrens education can be paid for, any medical expenses which might be incurred can be paid, and a replacement income stream for simon is created leaving allison debt free if something were to happen to Simon. Income protection It is my view that Income protection is not necessary for simon as allisons income is more than adequate to support the couple with money left over, however if they did not want to draw on this, an income p rotection policy could be put in place for 75% of his income. $45,000 x 75% = $33750 ($33750 / 12 = $2812. 5. this would mean Simons monthly benefit woul be $2812. 5 (75% of his monthly income). D) What is the most efficacious way for Simon to contribute to superannuation and why? How much should Simon contribute? As Simon is on the lower end of the income tax scale, it is beneficial for him to make non-concessional contributions into his superannuation as he is eligible for government co-contributions for every $1 he puts in up to $1000.As Allison is on a higher MRT than Simon, if she were to salary sacrifice a larger portion of her income into both their superannuation accounts (shes currently Sacrificing $40,000 into her own, however this could be brought up to $70,000 and then she could sacrifice another $20,000 per anum into Simons in line with their goals of increasing their super balances) they would be paying less tax (as Allison in on the highest MRT and super contribution s are at 15%) and they can use Simons income (on lower MRT) to put towards their expenses, thus Simon should not contribute too from his salary above the SG of 9% and non-concessional contributions past $1000 (as his super will be paid in by Allison to come across the above state tax advantages).Simon should also switch his investment strategy to a balanced mix as it is too conservative to his risk profile at the present. e)Is Allison contributing sufficient funds to superannuation at this time to meet their retirement objectives? Please explain. To meet their objectives of having $40,000 per anum to live off in retirement, Allison is not contributing enough to her superannuation at this point in time. Allowing for the effect of compounding interest, after 5 years Allisons superannuation balance would have accumulated to $224,400 (at 7%). In order to provide an income stream of $40,000 Allison will need to bring her balance up to $580,000 by the time she retires in 5 years.This means Allison will need to make up the difference ($580,000 $224,400 = $355,600) in the next five years. Allison will need to contribute another $30,000 p/a ($355,600/5 = $71,120) her current Salary ease up of $40,500 = $30,000 to her superannuation to achieve this balance and their retirement objectives. Allisons current total superannuation contributions per anum are $40,500 in salary sacrifice (30% of salary of $135,000) along with a Superannuation guarantee of 9% of her remaining salary ($135,000 $40,500 = $94,500, $94,500 x 9% = $8505) bringing her total contribution to $49,005. f) argon their additional benefits available to Simon or Allison as a result of your strategies above?By Allison salary sacrificing more of her income she is saving astronomical amounts on tax as the contributions tax is only 15% as opposed to her MRT. As stated previously, Simon will also be eligible for the government co-contributions with his non-concessional contributions. Allisons income protec tion policy (and Simons if taken out) are also tax deductible. Simon is also eligible for the low income tax process of $804 from a maximum of $1350 for income earners of under $30,000. For Simon his amount is worked out with the following calculations 1. $1350 ($45,000 taxable income -$30,000 threshold) x 4% = 546 and then 2. $1350 546 = $804) g)What is your testimonial regarding an investment for the grandchildrens university education? What are the benefits of this investment?For the grandchildrens education I would recommend investing in a balanced education savings plan (they would need to contribute $7000 p/a (at approx 7%, and with the make of compounding interest) to reach their goal of $120,000 in 12 years) as the amount invested in taxed at a flat internal company rate of 30% however after 10 years the amounts can be travel for non education purposes tax free, and as the investment is to be over 12 years Allison and Simon could take advantage of this. If it was to be withdrawn earlier, they are still in a good position as the money would be invested with a bit more risk than that of an everyday savings account and the taxation benefits still outweigh other methods, especially with the low income offset which is still said to be increasing. h) Are their bank/cash investments (total $36,000) meeting their requirements? Why/why not? What do you recommend? No, currently these investments are not meeting Allison and Simons requirements as they are held in both label and are whence subject to Allisons higher MRT.If Allison and Simon decided to use the advantages provided by income splitting (that is, transferring term deposits and interest bearing accounts into Simons name) then they would save on tax as Simon has a lower MRT. Allison and Simon could also calculate of putting this money in their Superannuation to capitalize on the 15% contributions tax or putting it into the mortgage as then they are paying less interest, however this would depend on whether or not they would be needing to keep this money liquid for everyday use and emergencies. i) How would you address their goals of paying out their home impart and purchasing the new car upon retirement? In order to pay out their home add in 5 years time, Allison and Simon would eed to put around $40,000 P/A towards due to interest payable. later on Allisons extra salary sacrificing for both their Super accounts, the couple have around $45,000 surplus disposable income per anum. $40,000 can be used to make these extra payments on the home loan and the other $5000 can be put into a high interest savings account for the 5 years (which if invested at the average deposit rate of 6% will leave them with $29576. 10 after 5 years with the effects of compounding interest) which will leave them with enough money to purchase the new car. j) Are their estate planning preparations adequate? Why/why not? Currently Allison and Simon have no estate plan, therefore it being inadequate. I would recommend to Allison and Simon to contact their solicitor to discuss a will/power of attorney using their information we have show through analyzing their financial situation here today. k)What alternative strategies did you consider? Why did you reject them? Insurance providing insurances for Simon as well This would be over insuring and squander money for Allison and Simon as Simons income in relatively small in analogy to Allisons, and she is able to cover all costs if something we to happen to Simon. Superannuation Simon contributing more to his superannuation the tax benefits of Allisons salary sacrifice through decreasing her MRT far outweigh that of Simons and it was therefore better to prioritise with Allisons SS and utilize Simons income for expenses.Investments For the grandchildrens university education, possibly investing in something more risky (eg shares) or less risky (eg Term deposits) however the tax advantages and return on the educations savings plan in comparison would leave them in a better position. 5 Present Strategies and Negotiate Solutions anterior to Presentation a)Describe what preparations you would start out to present your strategies in step 4 to Simon and Allison. After thorough research enabling me to form my recommendations, I would prepare a assurement of Advice with my findings, make sure to gather all product disclosure statements which are relevant, and information to back up my advice. I would also make sure there was a financial services guide within the information I would be taking to the interview.I would then call the clients to arrange a time which suits. b) What back-up information or documentation might you need? I might need to back up the movement of particular products/services I recommend (this could be provided in the form of company reports, asx reports, PDS, articles, academic studies etc) also easy to follow breakdowns of any calculations made so the client can see exactly how the strate gy will benfit them. FSG and Privacy policy to assure the client of the companies principles and policies in the event of a dispute. During the Presentation c) Describe the disclosure principles and presentation requirements you must adhere to for the following documents ? assignment of AdviceThe statement of advice must have statement of advice written across the front of it, it must be in non complex wording (clear, summary and effective mode), must have a generic description of the range of financial products or strategies considered and investigated. The customer must receive a copy, along with PDS and FSG and must have signed and had the SOA presented to them BEFORE any murder of strategies can be put in place. A disclaimer is also usually placed at the bottom of the SOA to protect the financial contriver and affiliated companies against the working of case law althogh this is not required by the corporations act. ? Product Disclosure Statement The PDS needs to accompan y the SOA so the clients have all the information in relation to possible products they are sign up to. Other things which need to be in the PDS include Fees and charges = explain what fees might be applicable, including benefits and commissions that could be received by 3rd parties/referrers or product providers as a result of the plan being implemented ? Products = outline the features of the products and services being recommended ? Complaints Policies and Procedures = make sure to completely explain the procedures for handling customer complaints ? Relationships = explain any relationships which might influence which products are recommended or provided d)List 2 objections or concerns your client might raise. How would you address these in order to gain agreement? 1. How do I know that what you recommend will work out for me in the long run? We have based these recommendations on previous performance of these products and services, all of which you have sight with your eyes.W e cannot 100% guarantee that these potential outcomes listed will occur, however financial planning is what we specialise in and we make it our duty to look after your financial health. If we notice that the course which we have mapped out for you is not heading in the direction we have anticipated, you will be the first to know, and we will reassessment your situation in order to alter your plan to best fit your needs, provided you would like us to provide you with this current service. 2. This plan fee seems likewise expensive why do I have to pay it? It takes a considerable amount of time, research, investigation and preparation for us to put unitedly a plan that is tailored entirely according to your personal needs. on that point are no generics or assumptions made with what we are presenting you and the savings and win you will make as a result of our guidance will far outweigh the cost of this information. 6 Implement Agreed Plan Simon and Allison have agreed to your pl an. a) What transactional documents/authorities need to be signed by Simon and Allison? Authority to proceed / SOA and disclaimer Application forms along with PDS attached A cheque to be written to accompany application form b) Complete an Implementation Plan, in order, that details your planned actions now that Callahans have decided to proceed with your recommendations in step 4, providing an indication of when each must be completed. A Adviser C Client No. body process Who When Sign Authority to Proceed C Now Provide 3rd parties with adequate notification of actions needed to be taken eg solicitor, accountant A ASAP Complete application forms ready for client to sign A ASAP Present application forms to client with PDS attached to be signed. A + C When ready Photocopy, keep one and give other with PDS to client. control Cheque from Client and attach to application form to be sent to dealer group A With step 4 Welcome earn from dealer is issued A /Dealer - Secure client file accomplished (maintained for 7 years) A - Confirm with clients that they have received welcome letter and they have heard from any 3rd parties. A - Speak to clients about Review Service A When everything is settled 7 Provide ongoing service You now have to address the issue of providing ongoing advice to Allison and Simon. )What purlieual (economic, market, regulatory) changes, or changes to their personal or financial situation would cause a palingenesis of their plan? Interest rate changed may affect tax advantages, investment earnings New regulatory changes may grandfather or completely remove current strategies in place Market booms and busts may cause portfolio mix to be outdated / underperforming Clients may have suffered a loss, or injury causing them to claim and or need to valuate the financial commitments they can keep up with Clients may have come into a considerable amount of money unexpectedly allowing for more fashion to move in c urrent strategy (e. g. inheritance, lotto) Change of advisor may bring upon new light on their situation, may have a better strategy in mind. b)Describe 2 activities you regularly undertake to keep up-to-date with current legal, ethical and regulatory requirements of the finance sector. Read financial round off/finance news, current company legal updates Read the AFPA reports issued and newsletter from BT financial and liaise with current financial planners c)What level of ongoing service would you propose for these clients? ( No service ( Portfolio valuation ( Portfolio review ( Financial Plan review ( Other Describe d)Describe the option recommended for your client, and why you have recommended this option.Describe the level of service you will provide and the associated fees. I would recommend an one-year portfolio review for Allison and Simon to ensure that they are on track to achieving their goals. This would involve checking balances and fund mixes to ensure adequate ret urns have been made and that products are performing as anticipated. I would prepare a letter to send out based on my finding advising whether or not a change could benefit them. As the strategies recommended for Allison and Simone are fairly basic a separate fee would not be necessary as this service would be considered to be paid for under the trail commissions. Sample Fact Finder & Risk Questionnaire 1. PERSONAL elaborate lymph gland 1 leaf node 2 prenomen Mrs Mr Given Name Allison Simon Preferred Name Allison Simon Surname Callahan Callahan involvement of rescue 1956 1958 Marital Status M M Home speech Address Lot 3 Wattle Road Suburb/Town Hurstbridge State VIC Postcode Home Telephone No. Preferred Contact No. CHILD / DEPENDENT DETAILS Name Megan Relationship Daughter hear of Birth 1981 Current Age 29 Financially Dependent NO HEALTH DETAILS Do you Smoke Yes / No Yes / No State of Health Poor / Good / beautiful Poor / Goo d / Excellent Are you aware of any health issues that may refer your ability to earn an income? (please provide details) notes 2. EMPLOYMENT DETAILS knob 1 CLIENT 2 Employment Status ( Unemployed ( Unemployed ( Full prison term Employed ( Full Time Employed ( self-importance Employed ( Self Employed ( Part-time ( Part-time ( Retired ( Retired ( Other ( Other Employer Name Best Marketing Newbolds Pty Ltd Position Title Marketing Employee Primary Duties Marketing fashion Furniture Work Address Current Work Phone No. Employment Security Secure just promoted Secure intention to stay long term Are you Contemplating leaving your employer? In 5-6 years Not in the foreseeable future Do you foresee any substantial change in Planned retirement in 5-6 years, possible In 5-6 years will reduce hours to part time your income in the next 2-5 years? reduction in take home pay in the lead up to income will be approx $20K p/a this Notes different ADVIS ER DETAILS Accountant Name Company Contact degree Do we have authority to contact? ( Yes ( No Solicitor Name Company Contact Detail Do we have authority to contact? ( Yes( No ESTATE PLANNING DETAILS CLIENT 1 CLIENT 2 Do you have a current Will? No No Date of Will / Last Reviewed Power of attorney No No Type / Name of Attorney? Do you have Funeral Plans? No No Do you have any specific intentions Intention to pay for grandchildrens Intention to pay for grandchildrens regarding your estate distribution? university in the approx 12 years (approx university in the approx 12 years (approx $120K in todays dollars) $120K in todays dollars) 3. FUTURE NEEDS prey AND GOALS E. g.Current income needs, retirement income needs, diversification, tax minimisation, capital growth, investment security, wealth creation, rule in mortgage etc Reasons for seeking financial advice Gain assistance with making the revolution to retirement and planning the next five years Short Term (1 to 3 years) Save on tax on bank accounts/term deposits through possibly restructure Start increasing Allison and Simons Super balances ($160K and $47K) Look into other investment options to diversify current wealth Medium Term (4 to 7 years) Pay off IO mortgage of $150K in 5 years Buy new car (through trade in 9 year old land cruiser) worth $30K In 5 years hold in a $40K (todays dollars) p/a retirement income stream in 5 years farsighted Term (7 year plus) Pay for grandchildrens university in 12 years estimated needed $120K in todays dollars RETIREMENT PLANNING Retirement Details CLIENT 1 CLIENT 2 Planned Retirement Age 59/60 on the fence(p) Retirement Income required $40K (todays dollar) $40K (todays dollar) After retirement, do you intend to work NO Expected Income= again either on a full-time or part-time $20K basis? Till age unexplained What capital expenses will you have in $ $ retirement? (Please state expense and value) Would y ou like some assets left to your $ $ estate? Please detail) Notes 4. FINANCIAL DETAILS PERSONAL BALANCE SHEET Lifestyle Assets Owner Date Acquired quantify Associated Debt Principal Residence Allison and Simon $750,000 $150,000 Contents Motor Vehicle/s Allison 2006 Land Cruiser No debt Caravan / Boat / Trailer Investment proportion Other Total Investment Assets Investment INCOME DETAILS CLIENT 1 CLIENT 2 Income $135,000 $45,000 Investment Income $1770 p/a interest (bank accounts) $1770 p/a interest (bank accounts) Centrelink Income Pension/Annuity Income Other Income Less Income Tax $38554 $7580 Less Medicare Levy $2050 $700 Total Net Income $94426 $38490 Combined Net Income $132,916 get down DETAILS COMBINED Food Entertainment $15,000 Transport/Vehicle Council rank Amenities Rent Mortgage Repayments $12,000 Other $40,000 Total $67,000 SURPLUS fluid INCOME COMBINED Annual $65,916 Monthly $5,493 PLANNED MAJOR EXPENSES Nature of expense Approx.Expense Amount Expected Date Grandchildrens university $120,000 in todays dollars 12 years Purchase new car $30,000 5/6 years What cash reserve do you require for emergencies or unforeseen expenses? Are you expecting a future lump sum or inheritance? If so, how much? Notes 5. SUPERANNUATION & INSURANCE SUPERANNUATION Company polity No. Employer/ Personal Are any of the above policies preserved? No Has a tax deduction been claimed for part/all? Yes No Are there any exit fees applicable? Yes No LEAVE PAYMENTS Type Expected Receipt Date Anticipated Amount Annual Long Service Other Have you recently received a periphrasis package? Yes No If you have recently received a pleonasm package, please provide notice of payments. GENERAL INSURANCE Insurance comment Policy Number Owner Date Commenced Sum Insured aid Payable Term Life and TPD Allison $100,000 Notes 6. INVESTOR RISK PROFILEYour attitude to risk is probably the most important factor to consider before investing. To achieve higher returns, you will have to be prepared to accept a higher risk of capital loss. This is because the funds and assets that offer high returns are generally more volatile than those producing lower returns. It is what we call risk/return trade off. We will recommend investment strategies to match your investments to your risk profile. Investing across the various investment sectors according to your risk profile is called diversification. For example, instead of investing only in property, or only in shares, you might invest a proportion in both, or even include cash or fixed interest to create a balanced portfolio.You are a balanced investor who wants a diversified portfolio to work towards medium to long-term financial goals. You require an investment strategy that will cope with the effects of tax and inflation. Calculated ri sks will be accepted to help you achieve good returns. 17 23 Moderately materialistic A Low Risk Taker You are a moderately conservative investor seeking better than basic returns, but risk must be low. Typically an older investor seeking to protect wealth that you have accumulated, you may be prepared to consider less aggressive growth investments. 9 16 Conservative A Very Low Risk Taker You are a conservative investor. Risk must be very low and you are prepared to accept lower returns to protect capital.The negative effects of tax and inflation will not concern you, provided your initial investment is protected. 7. CLIENT STATEMENT / AUTHORISATION I/We herby declare that the information set out in this form is true and correct to the best of my/our knowledge. I/We are not aware of any other information and have not disclosed to the person to whom this form is given any other information which would be relevant to the making of a recommendation by a Mentor Financial Planning Representative. I/We give consent for this information to be used for the preparation of my/our financial plan and I/we understand that the investment recommendations will be based solely on the information supplied in this form. I/We also acknowledge that ( I/we have received, read and understood the Financial Services Guide before any advisory services were provided ( I/we permit this document to be passed in confidence to any member of Mentor Financial Planning Pty Ltd ( express mail Information Provided I/We have provided limited financial information.I/We have limited the product(s) or objective(s) that can be advised on to If you are seeking limited advice of a particular nature you must make this known at the time of the interview and you should recognise that the recommendations will only relate to that limited advice being sought and may not be appropriate considering your overall situation and objectives. ( Tax File Number leave I/We give permission for my/our tax file number(s) as provided, to be held only by Mentor Financial Planning and be forwarded to financial institutions as requested or as necessary. ( Engagement Application I/We request that Mentor Financial Planning investigate research and provide suitable options to the financial objectives outlined in this questionnaire. I/We understand that the preparation fee of $500 is payable for the work to be undertaken. This fee may be credited against my establishment fee should I/We proceed to implement any of the recommendations provided by Mentor Financial Planning. Client 1 Client 2 contact Date 8. Advisers Declaration I declare that a) the information contained in the Fact Finder is an accurate and complete record of the information obtained from the client(s) b) The client(s) was provided with a copy of the Financial Services Guides before any advisory services were provided. Advisers Signature Date Additional Important Inform ation for the Client(s) If incomplete or limited financial information has been provided I, as your Adviser, will not be able to undertake a full needs analysis of your individual investment objectives, financial situation and particular needs There is a possibility that any recommendation given to you may not be fully appropriate to your individual objectives and needs, especially those which I, as the Adviser, do not know and You as the client must carefully ssess the appropriateness of the recommendations to your own individual investment objectives, financial situation and particular needs before acting on them. To Whom It May Concern Please accept this letter as my/our authority to provide any information requested and documentation if required to Azza Financial Planning (or their representative). Please accept a photocopy or imitation of this letter, as the original will remain on file at the offices of Mentor Financial Planning. Correspondence should be sent to Lev el 2, 349 collins Street Melbourne VIC 3000 This authority should remain in force until withdrawn in writing by me/us. Thankyou. Allison Callahan Client 1 Name Signature Simon Callahan Signature Client 2 Name Client 1 D. O. B. Client 2 D. O. B. ___/___/___ ___/___/___ Lot 3, wattle road, Hurstbridge, VIC Address On Going Service Options 1. The No service optionThis generally relates to a one off investment placement based on the agreed investment strategy in the financial plan. In choosing this option, no ongoing service or review of the financial plan and the investment portfolio is provided to the client unless specifically requested by the client or upon the recommendation of the planner. 2. The Portfolio valuation option This service provides reports on the value of your investment portfolio only. The fee charged will depend on the frequency of the reports. In choosing this option, no ongoing service or review of the financial plan is provi ded to the client unless specifically requested by the client or upon the recommendation of the planner. 3. The Portfolio review optionThis service provides reports on the value of your investment portfolio. The fee to be charged will depend on the frequency of the reviews and will be agreed at the time. The minimum fee is $N/A but this may be higher depending on the complexity of the review. This service includes An annual/ half yearly/quarterly review of your existing investment portfolio and its performance facial expression at further investment opportunities, if appropriate establishing if there have been any changes in legislation, the economic environment and state of the financial markets that may impact on your recommended investment portfolio In choosing this option, o ongoing service or review of the financial plan is provided to the client unless specifically requested by the client or upon the recommendation of the planner. 4. The Financial Plan review option This serv ice provides for an annual/half yearly/quarterly review of the overall financial plan strategy and the investment portfolio recommended. Each review will be presented in the manner of a written report and recommendations. The fee to be charged will depend on the frequency of the reviews and will be agreed at the time. The minimum fee is $__500________, but this may be higher depending on the complexity of the review. This service includes roviding reports on the value of your investment portfolio an annual/half yearly/quarterly review (including comments) of your existing investment portfolio and its performance looking at further investment opportunities, if appropriate establishing if there have been any changes in legislation, the economic environment and state of the financial markets that may impact on your recommended investment portfolio and the overall financial plan strategy establish if there have been any changes to your personal circumstances or financial goals and objec tives ascertain if the overall financial plan and the investment portfolio is continuing to meet your financial goals and objectives (including an insurance review) and making any new recommendations (if necessary).

Interviews: Indian Institutes of Management and Personal Interview

temperament Assessment Round Process Details (2013-2015 batch) By now, you must be instead familiar with the different processes that different B-schools ingestion in the due south round of their selection program. Let us now look at roughly individual institutes to get a mend grasp of the instrument they use in order to select the best candidates. Please logical argument that institutes do keep tinkering with their selection processes from time-to-time. Therefore, this list can only table service you to understand only the stages that an institute has used for selection in modern years with specific focus on last years method.However, please recollect that it is quite likely that in subsequent years, an institute may use radically different processes as well. IIM Ahmedabad Process PGPM demonstrate make-up labor movement + ain oppugn ABM root word countersign + face-to-face reference Essay bring out The candidates were assumption 1 minute to hypothesize and 10 legal proceeding to pen on the depicted object. Most of the topics were either ecumenical in nature or related to contemporary affairs. slightly of the topics apt(p) to the candidates were CAG is deceleration down progress in Indias telecom and mining sector, irresistible impulse with constant research by smartph unrivalled companies has had a serious effect on our social life., It is advisable to raise the legal drinking age entrap to 25 years for responsible drinking. Group Discussion Usually, the Group Discussions baffling case studies. Candidates were typically pr one and only(a) a few proceedings to claim the case knowledge and prepare their forecasts. At the end of the discussion, candidates had to redeem a summary of the discussion. personalised wonder Personal interviews were conducted after completion of the differentiate writing task / Group Discussion and, largely, lasted for nearly 15-20 minutes. In this round, candidates were interviewed by pl anks of twain members each.Those with prior pull in bed were asked comminuted questions pertaining to their experience and their companys business, its food market share, growth prospects, industry prospects, turnover, and so on round candidates were too asked indepth questions pertaining to their vocation visibleness and how their previous commandal qualifications were being utilized in their on-going job profile. Candidates with no work experience were generally asked questions relevant to their pedantic place stigmatiseting while a few candidates with prior work experience were excessively asked questions related to subjects from their academic background.Intere cauterisely, virtually all the candidates were asked a few questions from math as well. The questions related to Mathematics were primarily from areas like probability, distribution curves, statistics, etc. The candidates were excessively questioned more or less their hobbies and were expected to give way an in-depth friendship about them. whatsoever candidates were in like manner asked questions about the essay written by them. Specifically for ABM, candidates were asked questions regarding market-gardening and why they wanted to join the ABM program. IIM Bangalore Process Essay Writing confinement + Personal InterviewEssay Writing The candidates were minded(p) 10 minutes to think about the given topic and 20 minutes to write on the topic. Most of the topics were related to current affairs. The candidates were required to do a gross(a) analysis of the topic and in some cases, from a particular point of view. close to of the topics given to the candidates were Is crime rate in urban India senior high mainly due to economic disparities? , The world is in social, economic and governmental turmoil. Any suggestions to improve. , Recently a law has been passed to ban A-rated films on television. wherefore do you think this decision has been taken? Personal Interview indi vidually interview bloodshed comprised three members cardinal professors and one alumnus of the institute. The interviews were more oftentimes than not genuinely general in nature. Candidates were asked questions pertaining to various aspects of their CV and SOP (Statement of Purpose) and the panel was typically quite pleasant and friendly. The interviews usually blow uped with the panelists asking the candidates to talk about themselves. well-nigh of the candidates were asked about current developments involving their company or industry. Some of them were besides asked analytical questions on issues surrounding their industry / area of work.Typically, most of the candidates were asked a few questions regarding what they had written in their SOPs. IIM Calcutta Process Essay Writing caper + Personal Interview Essay Writing Candidates were distribute 15 minutes to write on the topic. The word nail down for the essay was 200 words. The topics given were general in nature a nd typically required analysis of an issue. Some of the topics given to the candidates were Corruption in sports committees and government interference are contaminating the quality of sports in India. Elaborate and provide remedies., The television media focuses more on violence, disaster and negative news. Why is it so? , What are your views on FDI in retail? Personal Interview Mostly, panels which interviewed the candidates had three members. The interviews were largely general in nature. Most of the candidates were asked questions pertaining to various aspects of their CV. Some of them were asked in-depth questions about their subjects or areas of interest. Several candidates were asked diminutive questions about their prior work-experience and their reasons for choosing to pursue an MBA. IIM LucknowProcess Essay Writing Task + Group Discussion + Personal Interview Essay Writing Candidates were allotted 15 minutes to write on the assigned topic. The word limit for the essay w as 200 words. The topics given were philosophical / abstract. Some of the topics given to candidates were Fame and wealth are fleeting, stupidity is eternal, A great city should not be confused with a populous one, Engine is the optic of an airplane and the pilot is its soul. Group Discussion The Group Discussion was held immediately after the essay writing. The topic was the same as the Essay writing task.Each multitude comprised 10-12 candidates. The groups were given 15 minutes to discuss the topic. Personal Interview Panels comprising two members interviewed candidates. The interviews were very general in nature and often focused primarily on the candidates goals and aims, as well as late(prenominal) experiences. Detailed questions related to area of work / job profile were roughhewn as were questions related to ones subjects of study while pursuing graduation. Many candidates were asked about their decision to pursue MBA and the candidates who had applied for ABM were aske d about their reasons for opting for ABM.Candidates were also asked questions pertaining to various aspects of their CV. While most of the interviews lasted for about 20-25 minutes, some candidates describe very shortened interviews of just about 8-10 minutes. IIM Indore Process Essay Writing Task + Personal Interview Essay Writing Candidates were allotted 30 minutes to write on the given topic. The word limit for the essay was 300 words. The topics given were very general and analytical in nature. Some of the topics given to the candidates were Todays frequent TV serials depict a life different from normal life.Is it a form of escapism or just for entertainment? , How does migration of people into new(prenominal) countries affect nationalism and patriotism? , With so galore(postnominal) mergers and acquisitions by gravid business houses in India, is there any future for itsy-bitsy collection plate enterprises in the country? Suggest ways to help out miniscule scale enterp rises. , Despite advances in medical science, progress is slow. Should research knowledge be shared with other scientists or should it be a near guarded secret? Personal Interview The candidates were interviewed by a panel of three members.The interviews often focused primarily on a candidates academic background. Detailed questions related to the candidates subjects of study while pursuing graduation were asked to almost all candidates, even those who had more than two years of prior work experience. Candidates with work experience were generally asked detailed questions about their job profile. Some candidates were queried on their decision to quit their job and pursue an MBA. Quite a few candidates were also asked questions about their hobbies and surpluscurricular activities while some were also asked questions aboutcurrent affairs, specifically questions related to the budget.Interviews typically lasted for about 25 to 35 minutes. IIM Kozhikode Process Essay Writing Task + P ersonal Interview Essay Writing Candidates were allotted 45 minutes to write on the given topic. The word limit for the essay was 500 words. The topics given were philosophical. Some of the topics were I dont know the key to success, but the key to failure is severe to please everyone, Forgive your enemies but dont forget their names, Absence of evidence is not evidence of absence.Personal Interview Panels comprising two members interviewed the candidates. The interviews did not have a set pattern rather, they were more panel-dependent. While some candidates report that their interviews were very general in nature and focused on their goals and aims, others inform that their interviews comprised only current affairs questions. Some candidates even reported that they were asked questions pertaining to their academic background only. Interviews generally were 20-30 minutes long. IIM Shillong Process Group Discussion (Case study + Essay) + Personal InterviewGroup Discussion Each gro up comprised 8-10 students. They were given a topic and the candidates were allotted 10 minutes to read the topic and write on it. This topic was accordingly discussed by the group for 15 minutes. The topics given were small cases which described certain scenarios. The candidates had to present their perspectives on the given case. The cases were quite general in nature. Some of the cases given to the candidates were A diamond necklace has been stolen fromjewellery store. There is no evidence. The security in- guidance decides to pin the blame on the person who last handled the necklace.It was also pointed out that the accused had provided some fake data in his join application form. Decide whether he can be expelled on that basis, with the charge of theft. , An automobile company had done whatever they could to ramp up the return like overtime, compensation increase etc. There was an employee aged slightly 30 who died on the floor of the factory. He had been doing overtime to get extra compensation for his family needs. Now the output manager wanted to increase the production owing to the impending festival season.But the employees disagreed on grounds of the death, and demanded 200% increment in overtime compensation. What should the production manager do? Personal Interview A panel, typically comprising three members, interviewed candidates. The panelists were reported to be very pleasant. The interviews generally focused on current affairs and the candidates academic background. Questions on current affairs were asked in order to get the candidates opinions on various issues and these opinions were then thoroughly discussed.At times, these questions were also based on the interest areas mentioned by candidates in their resume. A few candidates with prior work experience were also questioned in detail about the nature and technical aspect of their work. Some candidates were also asked ethical questions, like What is the difference between responsibi lity and wrong? , Is it right for the pharma companies to give gifts to medical practitioners? , etc. Interviews typically lasted for about 20 to 30 minutes. New IIMs Joint Process Process Essay Writing Task + Personal InterviewEssay Writing For this task, candidates were allotted 20 minutes to write on the given topic and the word limit was 300 words. The topics given were very general in nature, like MBA, B. Tech are geared wheel up with the market. Are the courses like Literature, Sociology, etc. irrelevant in education today? Give your opinion, What if a business chooses to focus on the bottom of the pyramid? Is innovation realisticly necessary for the growth of a business? , Social networking strengthens relationships but also makes youngsters lonely. Personal Interview Interviews were conducted after completion of the essay writing task. Candidates were interviewed by a panel of two members. The interviews were largely pleasant and stress-free. Different candidates were ask ed different kinds of questions there was no set pattern to the interviews. While some of the candidates with prior work experience were asked detailed questions pertaining to their experience, including details about their company other candidates were primarily asked questions pertaining to their goals and ambitions.Questions such as how do subjects from your graduation help you in your job, etc. were also asked. Some candidates were also asked questions related to their academic background, their hobbies and even the effects of the most novel budget. FMS, Delhi Process Group Discussion + Extempore + Personal Interview Group Discussion Group discussions typically lasted for about 14 minutes. Each group was given one minute to think before the discussion began and one minute to conclude the discussion. Every group comprised 10 to 15 candidates. The topics given to the candidates for discussion were general in nature.Some of them were Formal education stems the free spirit. , Shou ld sting operations be carried out? , Morals and values are on the decline in India. Extempore The extempore was typically conducted at the start of the personal interview. Candidates were given their topic and 1 minute to speak on it. No preparation time was given. A stopwatch was kept on a table in front of the candidate so that he / she could keep a tab on the time. Topics allotted to the candidates were general in nature and many of them were given topics that were somewhat related to their work.For e.g. , a candidate, who had worked in the Oil and Gas sector, was given the topic Energy sector in India. Another candidate, who had work experience in the field of Data Analytics and had subordinate for the Maths Olympiad, was asked to speak about Infinity. Personal InterviewTypically, interviews were quite brief and continued for about 5 minutes. Most of them were conducted by a panel of three interviewers. The interviews were quite general in nature. Questions primarily dealt wit h current affairs and / or hobbies and interest areas mentioned by candidates in their forms.A few candidates reported that they were also queried about their ambitions and future plans. MDI, Gurgaon Process Group Discussion + Personal Interview Group Discussion Typically, around 12 to 15 candidates participated in each group discussion and they were given around 15 minutes for the discussion. Additionally, 3 minutes were given to the group to think about the topic. At the end of every discussion, each candidate was asked to summarize what all had been discussed. Further, all the candidates were asked if they wanted to say something more on the topic.In some groups, candidates were also asked to write down a conclusion of the discussion at the end. Topics for the discussion were very general in nature, like Certainty of justice is more authoritative than severity of punishment. , Does Reservation in Higher Education hamper the real purpose of Education? , Should religious teachings be taught in our schools to inculcate better values in students? Personal Interview Generally, a panel consisting of two members interviewed the candidates while a few candidates reported that there was only one interviewer in their case.The average interview lasted for around 10 minutes. However, there were some students who reported that their interview went on for 30 minutes and some others verbalize that theirs lasted hardly 5 minutes. The interviews were quite pleasant and were very general in nature. Candidates were typically queried about their opinions on various issues of current affairs. In many cases, candidates were also queried on the topic that was given to them for their group discussion. Candidates with work experience were also asked questions related to their job profile and the industry they were in.

Marbury v. Madison

In analyzing the views of the Marbury vs. Madison case one erect tell that after analyzing the documents that the case resulted in puzzlement of Article adverse Section 2 of the Constitution. In the year of 1803 the Marbury vs. Madison case elevated the question of if the Supreme romance should have the authority to overturn unconstitutional federal official laws. Yes, the Supreme Court should have the authority to verturn unconstitutional federal laws.According to Article Ill Section 2 of the constitution, The Supreme Court is deemed the practiced to scrutinize a law established by Congress if it is deemed unconstitutional as document F supports. When applying this statement to the case, the conflict originated from whether the Supreme Court was able to deem Marburys wish constitutional or unconstitutional. Marburys argument In this case was that he was obligated to his posltlon as Justice of peace ecause the electric chair nominated him and the Senate confirmed his commission .This is true, Marbury was entitled to his appointment as justice of peace, entirely the Supreme Court was not the place where Marbury was able to get simplicity for his request. Since the Supreme Court has the right to reject a law that does not agree with the Constitution, the nations highest law, the act is invalid. This supports the claim made by Hamilton in enumeration B. As Hamilton implied, this strips the Judicial ranch of its power and gives more power to the opposite branches and the Supreme Court.On the whole this weakens the Judicial branch and allows it to become the least knockout branch. In conclusion Marbury was entitled to his position and the evidence support his claim. But due to the fact that the Supreme Court was deemed the power, Ilke stated in Document J, to state that the law being used as his curb was unconstitutional, Marbury and others appointed to government post where in lack of their Justice.

Media Formulation

Medium formulation is an essential stage in the design of fermentation member. Most fermentation media require liquid media, although nearly solid-substrate fermentations be besides operated. Fermentation media must satisfy tout ensemble the nutritionary requirements of the microorganisms and fulfill the technical objectives of the exhibit. There ar several stages where media are essential in a fermentation process inoculum (starter culture), propagation steps, pilot-scale fermentations and the principal(prenominal) carrefourion fermentations.harmonize to Cruger W and Cruger A (1990) on a swelled scale, the firsts of nutrients should be selected to create a long suit which should meet as many as many possible of the fol crusheding criteria i. It should produce the maximal recall of carrefour or biomass per gm of substrate use. ii. It should produce maximum concentration of product or biomass. iii. It should permit the maximum rate of product formation. iv. There shou ld be the minimum yield of undesired products. v. It should be of a consistent tone and be readily available throughout the year. vi.It should cause minimal problems during media homework and sterilization. vii. It should cause minimal problems in opposite aspects of the achievement process particularly aeration and agitation, extraction, purification and waste treatment. The initial step in media for media formulation is the trial run of the overall process on the stoichiometery for growth and product formation. The optimization of a medium should be carried out such that it meets as many as possible of the seven criteria. Different combinations and sequences of process conditions have to be investigated to visualise growth conditions (Stanbury P.F and Whitaker A 1995). Medium optimization buns be carried by the classical method, in which one independent variable is changed while belongings all others at a certain level. An aerobic fermentation process may be represented as Carbon and energy extension + Nitrogen opening + O2 + other requirements Biomass + products + CO2 + H2O + heat This earlier involves consideration of the input of the carbon and nitrogen sources, minerals and oxygen and their conversion to carrellphonephone biomass, metabolic products.Based on this information, it should be possible to calculate the minimum quantities of from each one element need to produce a certain quantity of biomass and metabolite According to Prasanthi V et al (2008) Chlorella vulgaris is a kelvin, spherical, single celled fresh water microalga belongs to the phylum Chlorophyta. As per the study conducted so far it is found that green algae are the highest source of chlorophyll in the plant world and particularly, Chlorella one of the members of green algae is the richest source of chlorophyll which is widely apply as a health food and feed supplement.The aim of this work is to design incompatible medium types to evaluate optimization combinations for maximum growth, morphology and pigment essence of C. vulgaris. Effect of glucose Three different volumes of glucose from apple juice while other variables are kept constant. The volumes that were used are 5g/l, 15g/l and 30g/l. The highest chlorophyll toil (12%) was obtained with a glucose concentration of 15g/l. Glucose is used as a carbon source which is required for all biosynthesis leading to reproduction, product formation and cell maintenance. It likewise serves as the energy source.Carbon requirements may be determined from the biomass yield coefficient (Y), an index of the efficiency of conversion of a substrate into the cellular real(a) Ycarbon (g/g) = biomass produced (g) __________________ Glucose substrate utilized (g) An increase in glucose concentration of 30g/l resulted in the production of chlorophyll being at a constant this is because all the active sites of the microorganism are occupied and active carrying out biochemical reactions. At low glucose concen tration of 5g/l very infinitesimal biomass (chlorophyll) is obtained and also there is low growth rate.Thus, glucose concentration signifi bedtly influences chlorophyll production and microbial growth of the microorganism. Constraints that can be generated include the fact that apple juice not only contains one type of sugar, glucose but also contains other sugars (fructose and sucrose) which the microorganism can either utilise for growth resulting in us not obtaining accurate optimization results and also the other sugars can inhibit the growth of the microorganism. Apple juice also contains soluble pectin these can be difficult to digest hence a reduction in biomass.Effect of nitrogen from defatted soya Nitrogen being serious constituent of the cell protein was needed for algal growth, either in combined or in molecular form. It is also a divisor of proteins nucleic acids some co-enzymes. Industrially important microorganisms can utilize both inorganic and organic nitrogen sou rces. inorganic nitrogen may be supplied as ammonium ion salts, often ammonium sulphate and diammonium hydrogen phosphate, or ammonia water these can be used in place of defatted soya. ammonia water can also be used to adjust the pH of the fermentation.As nitrogen wish develops the amount of chlorophyll in the cells decreases faster than the nitrogen content in C. vulgaris. Nitrogen is a hold ingredient if continually increased it can inhibit the production of chlorophyll. alter concentrations of nitrogen were used i. e 0. 3g/l, 0,6g/l and 2. 0g/l. At 0. 3g/l little chlorophyll is obtained this is due to the fact that nitrogen being a macronutrient it is required in high concentration. At 0. 6g/l high yields of chlorophyll are obtained and at 2. 0g/l nitrogen turns to be a limiting factor and can lead to culture toxicity.Constraints can be generated when using Ammonia as a substitute for defatted soya this is due to the fact that ammonia leads to high pH which results in a prec ipitate formation in the medium but lower pH of the medium prevent the precipitation. form bubbles in a microbiological process is due to media proteins that become attached to the mail-broth port wine where they denature to form stable foam. Non-treatment of foam may block air filters, resulting in loss of aseptic conditions. The foam production can be controlled by addition of chemical antifoam. Natural antifoams include plant oils (e. g.Soya, helianthus and rapeseed), hence defatted soya is used as a nitrogen source rather than ammonia. Also high concentrations of ammonium ions can be toxic to cells of the microbe. Effect of Mg2+ MgSO4 can be used as the source of magnesium. It promotes the maximum growth of the present alga and it is also incorporated as an enzyme co-factor component of chlorophyll. Three salt concentrations were used 0. 1g/l 0. 5g/l and 1g/l. At low salt concentration of 0. 1g/l it results in a magnesium deficiency which interrupted cell division in Chlorel la which results in abnormally large cell formation. Increase in salt concentration of 0. g/l and 1g/l of magnesium alone in the medium resulted in high cell number, although increase in nitrogen alone did not defecate much difference that means cells need magnesium to synthesize chlorophyll. The process of multiplication requires a larger concentration of magnesium in the medium than does the production of cell material. Iron uptake is strictly required to optimise the process. References 1). Crueger W and Crueger A. 1990. A Textbook of Industrial Microbiology. Oxford. Panima Publishing Corporation. 2). Stansbury P. F and Whitaker A . 1995. Principles of fermentation technology. New York. Pergamon Press. 3).Prasanthi V, Yugandhar M. N, Vuddaraju S. P, Nalla K. K, Raju C. A. I and Donthireddy S. R. R. Optimization of the fermentation media using statistical approach and artificial neural networks for the production of chlorophyll by Chlorella vulgaris. external Journal of Natural and Engineering Sciences. 2008. 2 (3) 51-56 CHINHOYI UNIVERSITY OF TECHNOLOGY NAME Ngara Tanyaradzwa R REG NUMBER C1110934J COURSE Process Optimization and Production COURSE law CUBT 208 PROGRAM BSBIO Level 22 Assignment 1 reader Dr Zvidzai

Complementary and Alternative Medicine (Cam) Essay

antonymous and alternating(a) practice of medicine (CAM) includes a variety of interventionsfrom exercise and dietary supplements to stress management strategies, biofeedback, and acupuncture. These therapieswhich place from many different disciplines and traditionsare generally considered to be outside the demesne of naturalized medicine. When implementd in combination with conventional medicine, they are referred to as complementary when used instead of conventional medicine, they are referred to as alternative. In the United States today, approximately 75% of people with MS use 1 form or some other of CAM, generally in combination with their convinced(p) MS pr from each oneings. Are CAM Therapies Safe to Use?Many people use CAM because they believe that anything sold over-the-counter at a pharmacy or health food store is healthy and harmless. However, unlike conventional health check wordswhich are thoroughly leavened and carefully regulated by the U.S. victuals and Drug Administrationmost CAM therapies have undergone very little, if any, scientific study. So some whitethorn be completely safe while others may actually pose significant risksfor example, by producing serious side personal effects or interacting negatively with other medications a person is taking. Fortunately, a gr devour effort is now being made to find ways to guess the safety and speciality of dissimilar types of CAM. Why is Controlled Clinical Studies So burning(prenominal)?Carefully-designed clinical trials are the best way to determine whether a handling is safe and effective. Here are the reasons why * Because the course of MS is variable, and each persons symptoms tend to come and go in an episodic way, the scarcely way to determine the effectiveness of a treatment is to test it on a large upshot of people. * Because most people heedless of the disease they havewill have a positive reaction to any new treatment they receive (even if its an inactive means or plac ebo), the effectiveness of a new treatment can only be be by comparing it to a placebo or to another treatment that has already been shown to be effective. * Because every treatment carries with it the risk of expect and unanticipated side effects, the only way to evaluate a treatments safety is to evaluate it in a large number of people over a sufficient period of time.Recommended Guidelines to Follow population who are considering using a CAM therapy should ask the following questions* What does the treatment withdraw?* How and why is it supposed to work?* How effective is it?* What are the risks?* How much does it toll?The answers to these questions can help a person considering a CAM therapy to weigh the bene check offs against the risks. For those who conciliate to go ahead with the CAM therapy, here are some good, common brain recommendations Keep your physician informed about everything you are taking. Not sacramental manduction this valuable information is like asking your physician to treat you blindfoldand knowing everything you are taking will allow your doctor to lively you to feasible side effects or drug interactions. Dont abandon conventional therapy. The treatments your physician prescribes for you are the ones that have been evaluated in controlled clinical trials or accepted by the MS medical community as safe and effective therapies. So stay with your prescribed treatments even if you limit to add CAM to your treatment plan. Document the experience. Keep a detailed record of what you take or what is done and any changes you experience.Check out These Complementary Approaches to Physical Health and Emotional Well-Being * Food and DietAlthough various diets have been promoted to cure or control MS, no diet has been proven to modify the course of MS. MS specialists recommend that people follow the aforementioned(prenominal) high fiber, low fat diet that is recommended for all adults. * calculate Exercise offers many benefits for p eople with MS. In increment to improving your overall health, aerobiotic exercise reduces fatigue and improves bladder and bowel function, strength, and mood.Stretching exercises reduce cruelty and increase mobility. The physicial therapist can recommend an exercise plan to fit your abilities and limitations. * Stress managementThe relationship between stress and the onset or worsening of MS is far from clearand different types of stress look to affect different people in different ways. But no(prenominal) of us feel our best when were stressed, so its important to find the stress management strategies that work best for you. * acupunctureAcupuncture is finding its way into Western medicine, with studies suggesting possible benefits for a wide mountain chain of problems.Definition of terms1. Alternative medicines is any practice that is put prior as having the healing effects of medicine, only if is not based on evidence gathered with the scientific method. Typically not adjourn of conventional treatment, alternative medicine is usually based on tradition, belief in supernatural energies, pseudoscience, errors in reasoning, propaganda, or fraud. Alternative therapies lack scientific validation, and their effectiveness is either unproved or disproved. The treatments are those that are not part of the conventional, science-based healthcare system.2. Complementary medicines is treatment and medicine that you use in addition to your doctors standard care.3. Dietary Supplements dietary supplements are substances you eat or drink. They can be vitamins, minerals, herbs or other plants, amino acids (the single building blocks of protein), or parts of these substances. They can be in pill, capsule, tablet, or liquid form. They supplement (add to) the diet and should not be considered a easing for food.Importance of CAM in Clinical PharmacyStudying CAM is important in clinical pharmacy since it is concerned with drugs. If you have a patient who does CAM s ystem, therefore you can be aware of dos and donts so you can perform a better patient counseling. Since CAM is not suggested, but at least you know it, then you can support your patients regarding that.Situational analytic thinkingTalk to your doctor about risks and benefits of complementary and alternative medicine take form with your conventional medical doctor to help you make informed decisions regarding complementary and alternative treatments. Even if your doctor cant recommend a specific practitioner, he or she can help you understand possible risks and benefits before you try a treatment. Its especially important to involve your doctor if youre pregnant, have medical problems or take prescription(prenominal) medicine. And dont stop or change your conventional treatment such as the dose of your prescription medications without talking to your doctor first. Finally, be sure to keep your doctor updated on any complementary and alternative therapies youre using, includin g herbal and dietary supplements.

How will future changes affect Human Resource Management Essay

IntroductionHuman Resource Manage ment (HRM) has constrain more important to society in the past twenty geezerhood, sack through many a nonher(prenominal) changes already. however how result it adapt in the time to come. What be the foreshadowions for the next and how leave HRM cope? The forthcoming document analyses the history of HRM, predicts what depart happen in the emerging of employment and the changes that HRM depart dupe to film to be able to detention maping.The History of HRMAccording to Winning (Online), violence Management has been around since the early 1920s but mainly proficient to support employees and excessively keep them a style from existence part of unions as it wasnt in the companys interest to encourage unions then. It was the 1960s where power Management started to astound recognised slightly more, at this snip it was static cosmos c entirelyed military force Management. This changed in mid 1980s when Personnel Management started t o be seen as nearthing that is actu on the wholey important to a company. The human body of Personnel Management got given a face-lift and was now referred to as Human Resource Management or HRM. The reasons for this being that the powers of the trade unions were decaying slowly. module functions also began to change with more technology being introduced, which introduced the start of HRM (Mullins, 1999)Personnel Management was recognised on a low level in the first place the introduction of HRM, but still had a part to childs play in the negotiations of machinery in the 1960s and 1970s.The introduction of HRM brought around many questions ab break through the similarities and differences between HRM and personnel commission. The main differences ar stated that Personnel Management is an employee centred practise including more opinions than facts, and that HRM is a resource centred activity with more planning, monitoring and control.Functions of HRMThe HRM part varies from make-up to organisation. But there be some specific tasks that quest to be completed by e very organisation. Some organisations argon upright too small to build a separate HRM department, but they still indispensableness to complete these specific tasks by whichever means. completely organisations guard to inscribe employees by passing play through the enlisting and selection process. large organisations will have specific guidelines by which they take note to complete this process some smaller companies whitethorn not have these guidelines, but they still have to abide by the law.Any staff that be employed need to be trained in their job with compliance to any laws relating to the role. Larger companies will offer a development plan to run on side the training, but make up smaller companies need to train staff. The HRM function in the company adheres to any legislation set by the Government.All organisations must have a motivation and reward scheme or the employee turnover will be high as everyone has needs, whether it is basic or social needs.Employee records need to be maintained in accordance with the information protection act. If things are not kept legal in the organisation then it will be in trouble. The HRM department/function sees that everything operates correctly. peculiar(prenominal) HRM departments looks after the employees and their welfare in the organisation, taking care of wages and dealings with personal issues that whitethorn fig discover with particular employees. Although many line managers will carry out such(prenominal) functions in smaller organisations.Predictions for the future and how it will chance upon HRMHRM has come along way over the years. Since the 1980s there has been a signifi providet but gradual change from Personnel management to HRM, being recognised as something that is becoming more important to organisations. With many multitude not joining unions and expecting more care from companies, it is something that had to happen to keep good relations.The key issues to discuss are the acceleration of technology and crustal plate readyers having an affect on HRM in the future. Such issues such as outsourcing, planning and future attitudes also need to be considered.The future is always hard to predict but an issue that is becoming obvious is that technology will play a huge part of what is to come. The earnings and computer technology is pathetic very fast, one business year is seven internet years according to Dr Patrick Dixon (online). With growth identical this, the earnings will be a backbone for society before long.In 2000 62% of all businesses functioned with meshing access as table 1.1 shows in supplement 1. This demonstrates how important the Internet has move around to businesses and the way they operate. 50% of businesses in the UK have their own sack up site now as well, so scarcely 12% of the businesses with Internet access dont choose to have a meshing si te. Having a web site catches another corner of the market and makes a company grow considerably, this would allow employees to work from home and brings lower cost for the businesses.E-Commerce is beginning to take off as table 1.3 shows in Appendix 1, 16% of businesses trade in this way over the Internet. E-Commerce is quite a new concept and the fact that 16% of businesses trade this way already is shocking.Since 1999, table 1.4 on Appendix 1 shows that the supply of ICT products has escalated by one hundred fifty%. This is a very clear indication that technology is growing at a very high speed. therefore the future of HRM will have to work around this and face the facts that with the lower costs for businesses and job losings HRM will have to seriously change the way operations are conducted. The question is where do they start making changes. Perhaps an Internet ground solution could be planed and trailed, but part of HRM is face-to-face communication with employees, which is also something else that will need to be considered when bringing in any changes. home plate and work integration is already starting with 0.7% of the population in 1996 work from home (Appendix 2a), this figure is practically unchanged from 1996 with the 2000 figure being the same.But in 2001 there are some significant baringings, the figure not being vastly different from the above but, as the Office of discipline Statistics states (Appendix 2b),Homeworking is most common among women, but among men it is the associate professional and adept occupations where homeworking is most common. Office of National Statistics (Online)This means if technology keeps progressing like it is today, more and more people will work from home. As most men that are homeworking have professional and technical occupations, the growth of technology keeps the doors firm opened for men to easily work from home (Appendix 2b). The impact on HRM is huge, it will have to keep up with this and find a way to be able to carry on functioning. But with homeworkers, if they are determined all around the coun strain, communication is hard. HRM may have to become like door-to-door salesman, having HRM representatives knocking on employees door for a review.Some organisations are already predicting this in the future and have taken certain measures to get a line and either delay or combat the problem. For example Google, ironically an Internet based company, keep their workers on-site and have brought in excellent benefits for employees, a a few(prenominal) examples being a free gourmet lunch cinque days a week and a doctor, dentist and massage therapists on-site (Google job opportunities, 2004)In the past employers have been considering of schemes to try and encouragement the company and its profits, but before long schemes will have to be brought in to retain and motivate employees. Employees are the way of the future whether they work from home or stay on-site. On-site workers will need an bonus to stay on-site and home workers will need support with the issues that arise from homeworking such as motivation, friendship and fulfilment. Has Google set the trend for the future?There are other issues that have to be considered such as outsourcing, planning, and future attitudes.Outsourcing, according to Deloitte Research (Appendix 3), by 2008 will have two jillion financial service jobs moved to India, as it is cheaper for companies to locate there. If other companies follow the trend that financial services has started, lower paid jobs may become reduced to a minimum in the UK leaving unemployment at an all time high. HRM will be cut in this case and only used in the higher paid jobs. Another alternative for HRM is being told by employers to still look after branches in India. How will this be achieved? Perhaps Video Conferencing or relocation for many workers is an option.If more people are having to think about highly paid jobs in the future, things such as fr iends and family may have to become very planned out for people. The society we live in may become false with everyone centre on getting a job leaving things in our lives, such as finding friends, being all about getting into a certain job. HRM employees will have to be very careful they may find they are finding many new friends that are very interested in where they work. HRM will have to become a very tight profession to go into, everything being planned to the fine detail, even perhaps who your friends can or cannot be.Future Attitudes will pave out a lot of what the future will be like. Some jobs may become redundant if no one in the future wants to do it. What will happen when young workers cannot get onto the house ladder? numerous people now work to support their family and cannot afford to leave a job, will workers of the future feel the same, if they have no house and no young family, what will attitudes be like? How will the HRM department catch young workers from leav ing and moving from job to job? How will HRM try and get employees to have company loyalty. These are issues to be addressed for the future if social attitudes hit an all time low.The effect of these changes on conventional HRM functionsIf people will be working from home the whole recruitment and selection process will have to change. Perhaps a home visit interview will have to be deliberated by companies to find the correct candidates. How will training be issued and measured? Possibly by post, email or web site even. Will HRM representative have to go to employees houses to ingest a training package? HRM will have to investigate what would be the most effective measure.How can HRM deliver motivation to a self-motivated homeworker? There is no way possible that HRM can motivate homeworkers when they work at home on their own all day. A homeworker just have to motivate themselves, but HRM can think of social activities designed to get homeworkers out of the house and perhaps targ ets that they get rewards for.Personal issues and employee welfare will be the hardest thing to monitor. If the HRM department are not getting to know employees through the work place, they do not know what this person is like which makes it harder to get to know them let alone(predicate) assess their needs.ConclusionHRM will face many problems of how they are going to plan and organise people in the company, facing difficulties of how and where people are working and monitoring this. As HRM is also responsible for employee well-being, but without being in a specific work place more issues of motivation, friendship, find and fulfilment will have to be addressed and dealt with in a specific manner. If the predictions come true HRM will be under a lot of stress to completely change over the next few years. The operations they undertake from day to day will have to be managed in such a way it incorporates every eventuality.

Is Generation Y Unemployed or Just Lazy

Is coevals Y Unemployed or retributory Lazy? In recent years, coevals Y is particularly part-time in the United States. Some people consider sluggish providence as an master(prenominal) reason for contemporaries Y unemployed. Other express the around principal(prenominal) reason is genesis Y is extreme acedia despite the opportunities that await them. I agree with the second time period. In my opinion, Generation Y just lazy, they simulatet want to spend a lot of time to figure out. They be making a choice to work at companies that pay less but offer them that much relieve time.Although they have bachelors form, they prefer to work in retail creases. This may be cod to their attributes, workings attitude and government compensation. The starting line-year reason that leads to Generation Y lazy wad be Generation Ys attribute. We can learn Generation Y does lay different levels of importance and partially assigns different levels of happiness to the five moti vational factors examined in this study responsibilities, compensation, work environment, advancement potential, and free time.This study represents the first attempt to explore motivational factors for the Generation Y workforce deep down the federal government(Barford). Depend on my research, I learned Generation Ys responsibility is least, and free time is the most important for Generation Y. They argon making a choice to work at companies that pay less but offer them that more free time. Generation Ys attributes showed us that they have less responsibility for alliance and they would like get more free time. In opposite word, they dont spend a lot of time to work.Second, underemployed due to Generation Ys working attitude. We can learn the best-paid farm outs with companies bedded high among Generation Y are all in recognition and technology, the survey shows. Google, Intel and Microsoft are all among the top five best companies for Gen Y, rank based on average pay for Mi llennial working there, job satisfaction and flexible schedules, among other things. At the same time, its most uncouth for Gen Y to work for small companies of 100 employees or less(Hadley). We can learn Generation Y prefer to flexible schedules and chose small companies.They most in all probability to hold low- remunerative jobs in retail, so that degree is not important for them. They dont want to study in high school or university because they can find a job without degree. On the other hand, Inter sort out is very important for Generation Y. In fact more than half of Gen Y workers will not accept a job that bans social media. This report demonstrates that to Gen Y, they consider the internet to be as important as air, water, food, and shelter and will choose a lower paying job in order to be able use it especially in lieu of doing any actual work.Because Generation Y is lazy, they are not employed in large numbers inside the Statess biggest companies. This is Generation Ys working attitude that is atomic number 53 of reason of lazy. The government compensation effects on unemployment, which stimulate unemployment people, are lazy to seeking job. The government unemployment compensation is likely to have change magnitude the average rate of unemployment. Our current system of unemployment compensation has 2 straightforward but related bad incentives. The first one for those who are employed, it reduces and eliminated the woo of increasing the period of unemployment.The second effect for more unsteady work, it raises net wage to the employee relative to the cost to the employer. (Feldstein amp Martin, p 39). According to these two effects of unemployment compensation, it stimulates the people who are lazy to seeking job. The government unemployment entitlement gives see for the people who are lose job or seeking job, however, this overprotected government activity cases extreme laziness to underemployment to find job. In conclusion, I agree with this point that Generation Y is just lazy. This may be due to their attributes, working attitude and government compensation.Actually, Generation Y can improve their flavor quality, if they are not lazy. They have ability to get good degree and find a good job. Works Cited Barford, Ian N and Hester, Defense learnedness Research Journal A Publication of the Defense Acquisition University Jan/Feb2011, Vol. 18 Issue 1, p63-80, 18p, 2 Color Photographs, 5 Graphs Hadley Malcolm, Gen Y most likely to hold low-paying jobs in retail, USA Today, 07347456, AUG 22, 2012. Feldstein amp Martin. Unemployment compensation its effect on unemployment. Monthly Labor Review Mar76, Vol. 99 Issue 3, p39, 3p.