“A Merchant of Venice” Essay Essay

In the play The Merchant of Venice, Shakespeare reveals Portia’s character in a variety of different ways. She seems to have multiple personalities, and it is very difficult for one to conclude whether she is kind or cruel. For example, she could be said to be prejudiced and sly, while also very caring. Portia is quick to judge others on appearances and first impressions. In scene II, when Portia is discussing her suitors with Nerissa, she explains all of the traits she doesn’t like about each of them. She even suggests placing a glass of wine on one of the incorrect caskets; so that the German suitor would choose it and she wouldn’t have to marry him. In fact, she does not seem to like any of the suitors that have visited, except for Bassanio, whom she remembers with fondness: â€Å"I remember him well, and I remember him worthy / of thy praise† (1.2.114-115). In addition, when consulted about the Prince of Morocco, she makes it clear to the reader that â€Å"if he had the condition of a saint / and the complexion of a devil, I had rather he should / shrive me than wive me† (1.2.124-126). This is extremely racist, especially since she hasn’t even spoken to him yet when she states this. She just immediately assumes that she would not marry him because of his dark skin, even if he had a wonderful personality. Also, Portia makes it known that she does not like people of the Jewish faith, and was extremely rude to Jessica when she first arrived in Belmont. During this scene, Portia warmly welcomes each man, but treats Jessica as if she were invisible. When Jessica tells the group that she had  heard him [Shylock] swear To Tubal and to Chus, his countrymen, That he would rather have Antonio’s flesh Than twenty times the value of the sum That he did owe him. (3.2.283-287) Portia completely ignores this piece of information, and continues talking to Bassanio as if nothing had been said. She cannot seem to accept people if they are slightly different from herself. Portia shows signs of being sly and somewhat cold-hearted. She manages to get to Venice and trick all of the men in the courtroom into thinking she is a man. Then, she craftily turns the whole bond plot around and saves Antonio from death, finding two loopholes in the bond. One of these is that Shylock cannot shed any of Antonio’s blood and the other is that he may not take any more or less than a pound of flesh. In the same scene, she decides to test her husband’s loyalty to her by convincing him to give her the ring that had been a symbol of their love, telling him that she â€Å"will have nothing else but only this† (4.1.430). Bassanio was eventually persuaded into giving up the ring to this ‘doctor’. This was very cold-hearted of her; she should have trusted Bassanio, given that he is her husband. This trick complicated their marriage, for she now probably feels like she cannot trust him. It was a cruel trick I think, and very sly. Portia loves Bassanio very much and cares for him and his friends. While it seems that Portia wants to accuse her husband of being disloyal, she still wants to help him in what ever way she can. At first, when she hears of the bond between Antonio and Shylock, she offers to â€Å"Pay him six thousand, and deface the bond; / double six thousand, and then treble that, / before a friend of this description / shall lose a hair through Bassanio’s fault† (3.2.298-301). When she discovers that money will not solve the problem, she risks getting caught and, accompanied by Nerissa, follows the men to Venice disguised as a male doctor. In the courtroom she stands up to Shylock and turns the bond to Antonio’s advantage, eventually causing Shylock to lose a lot of money and become terribly embarrassed. All of this she does out of love for Bassanio. Even though she has never met Antonio, she is very eager to help him out since he is a friend of her beloved husband. However horrible Portia may seem to be in terms of prejudice and how she doesn’t trust her own husband, she still is very loving to those she  actually likes. She can very well be described as two-faced: on the one hand she is sly, prejudiced and lacking in trust of her husband, yet on the other hand she is a kind and loving woman. It is this complex personality that makes her such an interesting character in Shakespeare’s The Merchant of Venice. Bassanio may want to get to know all of her sides before committing himself to a woman whom he barely knows.

Child observation Essay

All the children at Gerber Preschool are between the ages of 3 and 4 years old and mainly consist of lower to lower middle class Hispanic and Caucasian families. Mya is a small statured 3 year old Hispanic Caucasian female, with light olive-toned skin, long brown hair, and large brown eyes. Toby is an average statured 4 year old Caucasian male, fair-skinned, blue-eyed, short brown hair. Toby and Mya both seem to be in good physical heath. Jesus is a slightly above average statured 4 year old Hispanic male, with dark brown skin, short spikey black hair and brown eyes. Spanish is Jesus primary language at home but is encouraged to speak English at school. Mya, Toby, and Jesus all appear to be right handed and in good physical heath. Description of Setting: The observation session began on Tuesday May 7, 2013, at approximately 10:00 AM in Gerber, California; the preschool has 2 adults and 8-10 kids. All the children were in line waiting to exit out the back door to the playground. The playground featured a large fenced off area with a large grassy area and the class flower bed covered by a large shade tree, large cement slab with tricycles and tetherball, play house, sand box, and large gym set. There is an assortment of activities available for the children to play including: kickball, bubble buckets, tetherball, hopscotch, jump rope, soccer, etc. Primary Observation: Start time 10:00 AM on Tuesday, May 7, 2013 10:00- Toby impatiently stands in line telling Jesus â€Å"I’m going to be the first one on the playground† Jesus yells â€Å"No I am! † two people behind them Mya and Jessica are holding hands laughing and whispering in each other’s ears. Everyone is squirming about unable to sit still waiting for the go ahead to head outside. 10:05- The children rush outside onto the grass and prepare for story time. Jesus screams â€Å"Rainbow Fish† once he sees the book in the teacher’s hands. Mya excitingly says â€Å"I want a rainbow fish† to Jesus, he in return says â€Å"I want one too. † All the children sit down so the teacher could begin the story. 10:10- During the story Toby was unable to see the book and yells to his teacher â€Å"Aren’t you going to face it to me. He continues to be disruptive getting up and interrupting the teacher. Toby is very energetic and begins to get restless playing with whatever is within his reach. He starts disturbing Jessica until the teacher asks him to sit back down and stop disturbing others Toby than sits back down and begins whining that he is unable to see the book again. 10:15- At the end of the story the teacher asks the children â€Å"Why did Rainbow Fish give away his scales? † Jesus immediately stood up and said â€Å"Because he was alone and wanted friends† Toby says â€Å"Now he has no more rainbow scales. † 10:20- The class is now on free time for the rest of the day. All the children immediately take off running for the playground; Toby and Jesus immediately go for the tricycles. While Mya went straight for the flower bed to dig with the shovel and buckets that were there. 10:25- Jesus, Toby, and another little boy raced back and forth across the pavement a couple times but quickly lost interest in the tricycles and more interested in what the other children were doing. 10:30- Toby ran over to where Mya was and Mya said â€Å"Let’s play house† the children discussed where they would live and what part they would act out. Toby excitedly screamed â€Å"Ok, I’m the daddy†, and Mya says â€Å"I’m the mommy†, and two other little boys Gauge and Angel are the sons. 10:35- Mya runs over to the play house and begins putting sand in a bucket and acts as if she is cooking while Toby makes the fire. Jesus walks over and picks up Mya’s bucket, she instantly got mad at Jesus and hit him. Jesus left crying and she said â€Å"He didn’t say please, so leave me alone. † She than stuck her tongue out at him, another girl by the name of Jessica told the teacher. The teacher told Mya that if she couldn’t talk nice and share she would have to choose another area to play. 10:40- After the incident Toby moves over to a bucket of bubbles with 3 wands, colored green, purple, and pink. Toby and Jesus blow bubbles together. No bubbles were coming out of Toby’s wand, so he blew with more force. Toby takes his wand to the teacher. He brought his wand back, dipped it in the bubble bucket and flung it out. 10:45- Mya gets the purple bubble wand and Toby goes over to Mya and tries to take it away from her. Mya begins to make sounds of being upset but soon gets over it when the other children begin popping the bubbles and she joins in squealing and laughing. 10:50- The teacher blows her whistle to signal to the children it’s time to clean up and go inside. Mya quickly grabs the bubble bucket yelling â€Å"I got the bubbles† while Jesus and Toby raced to the door to line up without picking up anything. 10:55- All the children walked back into the class room and were instructed to sit at a table. Toby got up from the table and a little boy named Gauge took his seat. He tried to get the attention of the teacher but she was busy with another child, so he pulled Gauge by the shirt and begin to cry saying â€Å"get out my chair† Gauge refused to move. Once the teacher finally got to them they had already started to tussle a little. Toby and Gauge were both placed in time out but first they had to apologize to one another. 11:00- End of observation. Analysis: Gender identity is the perception of oneself as male or female (pg. 252). All three children show gender identity when they discuss the roles of one another to play house, with Mya being the mother, Jesus the father, and Gauge and Angel as the sons. Mya also displays gender identity when she pretends to cook while playing house as well. On page 254 cooperative play is described as children playing with one another taking turns, playing games, etc. Mya, Toby, and Jesus demonstrate cooperative play as well as make-believe play throughout their game of house they coordinated ideas together as a group. Cooperative play is also apparent when the children play with the bubbles. The text on page 264 states that aggression is an intentional injury or harm to another person. Mya showed aggression by hitting Jesus when she became angry at him. Toby also displayed aggression when he grabbed Gauge in an attempt to get his chair back. In sum all of the children seem to be displaying appropriate social and emotional behavior and skills typical of their age.

Man without a Memory – Clive Wearing

During the learning process information is encoded, then stored and retrieved once needed. The sensory organs receive information from the environment and are stored for a very short period within the sensory cells, by giving attention to this information it is sent into the working memory/short term memory. Information in short-term memory can be held there indefinitely as long as it is rehearsed, and the typical cause for its loss is that it is displacement by the presence of other, new information that has been attended to.Once received in the working memory/short term memory the information is encoded in our long-term memory by rehearsal or constant repetition of the information. When we need this stored information for future purposes, it is retrieve by recall or recognition. Clive Wearing, the man with no memory, has an unusual case of memory loss in which he is unable to form lasting new memories. Clive Wearing contracting the herpes viral encephalitis that affected his nervou s system and resulted in him has retrograde and ante-retrograde amnesia.Ante-retrograde amnesia means he is unable to form memory of events that have taken place after his illness; he also suffers from retrograde amnesia, which refers to him being unable to remember places, things and events before his illness means he is unable to store memory. The hippocampus and sections of his frontal and temporal lobe are damaged due to the infection. The hippocampus which transfers short-term memory to long term memory is damaged due to the viral infection that affected his nervous system. With this said an account could be given of why he is unable to store new memories.His memories only last between 7-30 seconds and are therefore only being stored in his short-term memory. Once the 7-30 seconds expires, he cannot recall what he had just experienced or learned. This results in him not storing any new memories during his daily life. Even thou Clive Wearing is unable to form new memories he sti ll has lasting memory of his wife and playing the piano. The fact that he can do this is evidence that different parts of the brain stores different types of memory. The assumption is that the section of his brain responsible for procedural memory (memory of habits) is not damaged hence his ability to playing the piano.

Women's roles in society Research Paper Example | Topics and Well Written Essays - 1000 words

Women's roles in society - Research Paper Example The development of feminist’s movements and the increased awareness about the capabilities of women forced male communities to accept the identity of women in a more liberal manner. In liberal societies, today’s women enjoy the same freedom as that of men; they can work in any professions they like and engage in any activities they like. For example, Canada is the fourth country in the world to legalize gay and lesbian marriage (Dube). In other words, Canada has not shown any discrimination while legalizing same sex marriage; along gay marriage, lesbian marriage was also legalized in Canada. At the same time, it should be noted that in countries like Saudi Arabia, women are not even allowed to drive their vehicles. BBC (17 June 2011) has reported that a women was arrested in Saudi Arabia in May 2011, for uploading a video of herself driving a vehicle. â€Å"Manal al-Sherif was accused of "besmirching the kingdom's reputation abroad and stirring up public opinion", but was released after 10 days having promised not to drive again† (Saudi Arabia women drive cars in protest at ban). From the above two incidents it is evident that the roles of women in liberal societies are changing rapidly whereas in traditional societies, it remains the same. Thompson (2010) has mentioned that â€Å"jobs for women were largely limited to work as household servants during ancient times† (Thompson). Dr. Benson et al, (2010) have pointed out that â€Å"women in some cultures have been denied access to education or there may be no education system due to circumstances in their country† (Dr. Benson et al, p.359). Lack of education or denial of educational opportunities forced women in totalitarian countries like Saudi Arabia, Afghanistan etc to limit their activities within the boundaries of their house. The over influence of religion over social life is the major reason for the underdevelopment of women life in these countries. It should be noted th at even in communist China, the role of women has been changed drastically over the last few decades. Africa is a region which is famous for totalitarian or autocratic administrations. Even the African women enjoy much more freedom than the women in fundamental Muslim societies. The leadership roles women have played in the development of various African societies cannot be underestimated. The contributions of women towards the social, economic, political and educational developments of African societies cannot also be gainsaid. In fact, traditional African society attached no importance to gender issues because every individual had a role to play both in the family as well as in the larger society (Afisi, p.230) It is evident from the above discussions that the major obstacle which prevents women from development is not politics, but religion or religious beliefs. Western countries are more aware of the changing roles of women in society and they are ready to make necessary changes in their social life. As stated earlier, women in western countries can engage in all activities in which their male counterparts engaged in. For example, it should be noted that many biggest organizations like Pepsi are currently run by women CEO’s. Such things were unimaginable around thirty or forty years before. The capabilities of women in handling pressure and undertaking risky jobs are well accepted by the western societies. However, the conditions of the women in third world are not like that in the western world. In third world, women are still considered as second class citizens. â€Å"They are denied even some of the fundamental rights and privileges which are so essential for the preservation of human dignity†

Healty Care Informatics Essay Example | Topics and Well Written Essays - 1000 words

Healty Care Informatics - Essay Example CHINS, electronic patient records, clinical guidelines and clinical pathways are just some of the examples from several health care informatics applications. Regardless of the fact that the area of health care informatics is a prime topic of several discussion boards, government and hospital agendas and research, the current literature shows that most health care organizations are allocating a small percentage of their resource in deploying Information Technology to assist health care. One study showed that the health care industry was generally spending only about 2% of its revenues on technology, while other industries generally average around 10% (Clark, 2000). To echo this fact, another study of American health care providers showed that, while 92% of health care professionals surveyed had informational Web sites, only 20% were participating in extranets or supply chain networks, and only 15% were currently offering enterprise portals (Wilson, 2000). Despite the reluctance evident from these facts and figures, it has been observed that there has still been an increase in the resources allocated towards IT from the mentioned 2% to aro und 6% (Blodgett, 1997). On further observation, it is clear that this increase can be attributed to the administrative use of Information Technology rather than use of IT to improve health care. More recently, this trend is changing as many health care organizations are now utilizing information technology to improve the quality of health care received by patients rather than mere MIS use (Anderson, 1997). The Technology Internet, Intranet & Extranet: The Internet has attracted considerable attention as a means to improve health and health care delivery. The Internet is no longer a medium available to the select few. It has become a way of life. Harris poll in August of 2000 shows that 98 million adults have used the Web to find health information. Numerous electronic discussion groups allow patients to share experiences and some health related Internet sites offer email advice on a fee for service basis. Many organizations, including the BMJ, provide free access to health care related information. Regardless of the evident benefits, the Internet is not free of several challenges. Firstly, Internet to a large extent is uncontrollable. This leads to a possibility of non-credible information to be posted on the websites which could be fatal to several. Secondly, Internet is a public medium which, to a large extend is insecure. This could lead to breach of privacy and other information security related hazards. And most importantly, in countries in which health care is more centrally managed, widespread use of the Internet is likely to aggravate existing conflicts between patients' expectations and provision of health care. An intranet is a collection of inter-connected networks within an organization, usually based on Internet technologies. The growth in medical intranets can be attributed to its various advantages including: 1) low-cost connectivity; 2) ease of rapid deployment of the technology; 3) use of cross-industry communications standards; 4) user-friendliness; 5) short training times; 6)

Video Observation and Reflection Movie Review Example | Topics and Well Written Essays - 1000 words

Video Observation and Reflection - Movie Review Example She explains that it is vital they work in that manner because the girls may not participate well when they partner with the boys. Completing the task required that the students partner so that they share and discuss how the connections worked. They also managed to walk around and ask the other students how they managed to work on their experiments successfully (Completing the Circuit: A Conversation About Teaching, 1999). Engagement Questionnaires were given to the students by Ms. Block to allow her know about the encounters of students with electricity. Posters about various uses of electricity and the applications were made by the students. Engagement can spring from two different conditions: experience and dialogue (Bilica, 2007). Experience has been used by Ms. Block through the classroom experiments she has administered. The students in the learning have been assigned the duty of carrying out experiments using the materials they have been given and making precise observations a bout the circuits. Through dialogue, the students purposefully discuss the unit content with their experiences in relation. They write down the class notes and the discussion details. The students thus become the creators and users of knowledge and not passively the recipients of it. Communication Ms. Block herself allowed the students to talk about their observations. This she does by first taking them through the step-by-step process of discussing with them the things she will look for during the learning session. She asks the students questions regarding what their thoughts about sharing and working in groups. It is a process of question asking and letting the students give out their thoughts on the topic (Bilica, 2007). Ms. Block explains that she will be interested in the way the students will be sharing the materials she will give out. Additionally, she will be interested in how the students themselves will share with others the observations and ideas as the experiments contin ues. While giving out the instructions on how the discussions and experiments should be carried out, Ms. Block was standing in front of the class. The students communicated with each other by: 1. Discussing with their individual partners about the connection details and the observations. 2. Moving from their individual groups to other tables to check, ask and help others on their experiments. 3. Giving out their observations to the whole class as they answered the questions asked by the instructor later on when they had finished different phases of the experiment. Direct instruction Ms. Block directly instructed the students about what she looked for during the lesson. She explained-before she gave out the materials for the experiment-that the students will work in groups. The atmosphere in the classroom The groups had different encounters and views during the experiments. This helped to bring out seriousness and involvement in the learning environment (Barton & Haydn, 2006). Studen ts could reveal their excitements when their connections were a success. Others, however, could be seen to be a bit nervous considering that they had difficulties completing their circuits. Ms. Block did her best by also engaging in the experiment process by checking on the groups that were not working out their connections properly. The classroom atmosphere was fun, and the students mood was jovial. We could finally say that the classroom

Technical Evaluations Using Web APIs Research Paper

Technical Evaluations Using Web APIs - Research Paper Example Over the years, we had seen the development of personal computers at a time when the massive IBM Company thought that the idea of developing and creating the personal computer was not viable. In their own words, they said that the personal computer was ‘a toy’. At the time, IBM was creating and building only mainframe computers. They ridiculed the idea of the development of the personal computers so much, so that the likes of Microsoft were forced to do something big while the others watched. Today, personal computers are found in almost every home and school. In the world of search engines, Google is developing very fast. The Google we have today is not the same as the Google we had 12 years ago or so. The company is making innovations every other day. It is becoming a juggernaut that crashes anything in its way; Google cannot stop to overcome anything that comes its way. The Google web API has been around for a while now. This API enables developers to create websites that have the Google searching services in them without much hustle (Chase). The Google Web Search API enables developers to put the Google Search services in the web pages they come up with using JavaScript. This whole process happens by embedding of the code that Google makes available on some of its web sites for developers to take and use for their own purposes. The use of the web search API is regulated with the terms and conditions that developers have to comply with the terms and conditions of Google as a company and service provider. Once the search box from Google is embedded in code, users can be able to search for anything from the web sites that have implemented the use of the web search API (Google Developers). The results from the web search can also be seen on the same page as the one the search made on with no problem at all. An example of a web site that has implemented the Google Web Search so well is http://www.standardmedia.co.ke/search.php This website has imple mented the Google Search API in its search page. This has made it easier for the website’s visitors to quickly locate any content they are searching for. The search API lets developers embed code into the web sites they make in order to bring results they want the users to see. The developers filter the results according to the criteria they deem fit the visitors of the site should see and that meets the demands of all the stake holders of the web site. When visiting standard media web site, newspaper readers from Kenya may wish to search the contents of the site very fast and depend on the search field to give them very specific content they may be looking for from the web site. Use of the Google Web Search API has very little restrictions. Google Inc. has been at the forefront of development of open source software for a while now and their APIs are mostly open source too; in order to achieve this purpose. The API is available for download from the Google developers’ web site. At the point of download, the user or developer downloading the API is required to agree to the terms and conditions of use to access the API (Google Developers). Rich Interface Technologies There are a number of rich tech technologies in place today. Some of them are Ajax, JQuery, HTML5, which are used for the development of beautiful

Nursing Essay Example | Topics and Well Written Essays - 1000 words - 2

Nursing - Essay Example Nurse salaries are the major problem for some institutions along with benefits and intangible income. Moreover, medical costs and for profit health care have been increasing for the past decade. This accounts for other issues of nursing shortage such as nursing care, level of accident rations, and arguments between organizations and unions based on profits and salary increase. This decreased the nurse-patient ratio, which greatly affected the quality of care.1 The crisis of nursing employment became evident from the 1992-2000 surveys of the National Sample Surveys of Registered Nurses.2 Private and public sectors already contributed their observations regarding this matter. Moreover, some private companies have carried out actions to increase the nursing employment. For instance, Johnson and Johnson Health Care Systems have promoted a $20 million Campaign for Nursing Future. This program comprises of television ads, promotional materials among high school students, and a web site that exhibits programs among those aspiring for a nursing career. On the other hand, the public sector also contributed their share in promoting the nursing career such as congressional hearings and federal legislation proposing improvements in basic nursing education.3 Many factors are contributors to nursing shortage. One factor is underemployment. Many nursing graduates spend their career at another field instead of nursing. According to the National Sample Surveys of RN (2000), 71-73 percent of Registered Nurses were not working in the medical field and others have undergone retirement. Usually, these Registered Nurses had their reasons why they chose to work on another field instead of nursing, including better hours, more rewarding work, and of course, better salary.4 A next factor is the employment pattern on nursing. The gender issue presents itself conspicuously, as men who graduated as

Art and Culture issues in oxford cowley road Essay

Art and Culture issues in oxford cowley road - Essay Example The tradition of celebrating the Cowley Road Carnival started in 2001. It was a regeneration project. Before the Carnival project, the Cowley Road had a notorious image of crime. It was the local communities demand to cleanse the Cowley Road from the negative impact through East Oxford Action’s regeneration programme. Since then, the Carnival has become a regular practice for the regeneration of the area (seco). The Cowley Road has become a place for art and culture exhibition openly. According to Marcusen (2006), artists are not evenly scattered in cities, their distribution depends on their choices to live, employment opportunities in industries like media, advertising and publishing and keen interest taken by local authorities to support art work for its development. Artists add to the regional economic growth by exporting their art work and creating opportunities for import functions from other cities and areas to their city. Smaller performing art spaces also play a significant part in expansion of art work to other areas. A group of artists get formed in such urban spaces where local art flourishes and gets a place in economy of the region (p.1). It seems so true of the experience the Cowley Road Carnival of cultural show is giving to the ethnic communities there. The Cowley Road Carnival attends to local communities’ aspirations by contributing to specific themes and resolving of certain issues, which have become a priority. Issues and themes include: The carnival has become a symbol of local peoples’ tolerance of each other communities with the celebration of their feelings through the multicultural show. The carnival has become a raging success because of the collaborative support from the people, groups, schools and local organisations, representing art and culture but where from these artists come? (seco, 2010) In this context, it is argued by social theorists that artists are the soul of society, attacking aggressively

Expressions of Attitudes Through Tone and Use of Words Essay Example for Free

Expressions of Attitudes Through Tone and Use of Words Essay â€Å"Forgiving My Father†, â€Å"Those Winter Sundays†, â€Å"My Papa’s Waltz†, and â€Å"Father From Asia† are literary pieces that tell about the fathers and the attitudes of the speakers towards them. The personas express their different feelings for the father they had. Lucille Clifton’s â€Å"Forgiving My Father† talks about a daughter’s bitterness towards her father. Throughout the poem, the negative side of the patriarch is shown. The persona describes what her father did, and it shows him as an irresponsible provider as he doesn’t give his family what they need. The speaker says that the father would give all that he has which was nothing. She also mentions what she wants to do and what she would’ve done. Although the title is about forgiving the father, the poem doesn’t seem to speak about forgiveness at all. The mood is the same in Shirley Geok-Lin Lim’s â€Å"Father From Asia†. The father is also depicted as a lousy provider. It was also mentioned in the poem that there is a large gap between the whole family and the father. Anger resonates throughout the poem as the speaker expresses his/her sentiments towards the father who brought poverty to the family. In the next piece, â€Å"My Papa’s Waltz† by Theodore Roethke, the persona tells of how he was feeling and experiencing as his father was â€Å"waltzing† him. In the poem, the persona simply narrates his experience in detail, which makes the father appear to be abusing them. Roethke’s use of words, such as â€Å"hung on like death†, â€Å"romped† and â€Å"battered†, make the poem appear violent. â€Å"Those Winter Sundays† by Robert Hayden tells the story of a son remembering an event wherein he saw his father’s ways of providing for his family. The boy recounts what his father did on a winter day, and the efforts to keep the family comfortable. The poem implies a lack of communication or a gap between the father and son. This may be the reason why the son failed to recognize, at that time, that this was his father‘s way of showing that he cares. But the last two lines of the piece seem to express his appreciation for what the father did for him and his family. This poem appears to have a tone of regret for not recognizing a father’s love. Of all these four, Lim’s â€Å"Father From Asia† seems to express anger the most. She speaks of her father as though he is just a worthless creature. As her narration says, the father does not give her and her family anything. The tone in the poem somehow makes the readers feel for the speaker. Author Shirley Geok-Lin Lim uses words that are so full of resentment that readers can also feel the hatred of the persona. Even though she already seems to understand their situation, resentment is still reflected in the poem. The father is the one she blames for the poverty she experienced in her childhood. The persona already knows that it would be a waste of time to think about the father who left her with these bad memories, which she compares to worthless dust that can easily be blown away. This leads her to the decision of leaving her past and her father behind. All four fathers did something that made the speakers angry. In the cases of the characters of Roethke, Clifton and Hayden, there seems to be forgiveness. The speaker in â€Å"Those Winter Sundays† admitted that he is also to blame for the poor relationship he had with his father. Through this and his own reasoning he has resolved the resentments he had for his father. Even though the speaker’s feelings for his father were not implied in the first two stanzas, the last stanza of the poem shows what his relationship with his father was and what he really felt towards him. In Roethke’s work, the persona’s forgiveness was shown through the analogy he made between the abuse he experienced and a waltz. He was able to deal with his anger by converting a tragic memory such as an abuse into an enjoyable, and in this case violent, activity which is dancing the waltz. The speaker in Clifton’s â€Å"Forgiving My Father† shows that she has already accepted the past abuses done to her and her mother, although the thought of his father haunts her from time to time. Figures of speech in the poem indicate this. There is also a part of the poem wherein she gives up on him, and she no longer sees him as her responsibility. This shows that the speaker has come to the point of acceptance but it is still hard to say if she has already forgiven the father. However, Lim’s â€Å"Father from Asia† did not show forgiveness, simply because she decided to forget everything about him. Instead of granting the forgiveness to her father, she chooses to banish him from her thoughts as though he did not and does not exist at all. She doesn’t want to deal with her feelings for her father anymore, and this is why she opts to bury these feelings. The poems expressed a negative attitude towards the fathers but only Hayden’s persona shows a positive attitude as well. He acknowledges the fact that the father tries to really provide for the family. And at the last stanza he realizes what his father had given him. He realizes that the father did provide warmth and cleanliness for him. These four poems talk about attitudes towards fathers. The authors treated these in different manners which is reflected by their use of words and tone. Nonetheless, all express negative attitudes. There were no clear indications of forgiveness in the part of the speakers, but some manage to show even a little positive attitude towards their fathers.

Trends of Economic Thinking

Trends of Economic Thinking The position of the economist in the intellectual life of our time is unlike that of the practitioners of any other branch of knowledge. Questions for whose solution his special knowledge is relevant are probably more frequently encountered than questions related to another science. Yet, in large measure, this knowledge is disregarded and in many respects public opinion even seems to move in a contrary direction. Thus the economist appears to be hopelessly out of tune with his time, giving unpractical advice to which his public is not disposed to listen and having no influence upon contemporary events. Why is this? The situation is not without precedent in the history of economic thought; but it cannot be considered as normal, and there is strong reason to believe that it must be the result of a particular historical situation. For the views at present held by the public can clearly be traced to the economists of a generation or so ago. So that the fact is, not that the teaching of the economist has no influence at all; on the contrary, it may be very powerful. But it takes a long time to make its influence felt, so that, if there is change, the new ideas tend to be swamped by the domination of ideas which, in fact, have become obsolete. Hence the recurring intellectual isolation of the economist. The problem of the relation between the economist and public opinion today resolves itself, therefore, into a question of the causes of the intellectual changes which have conspired to bring about this cleavage. It is this subject which I have chosen as the main theme of this lectureThe subject is a vast one, but the aspect which I wish chiefly to emphasise is that which the economist must, naturally, be most anxious to make clear to the public for example the role played by purely scientific Progress the growth of our insight into the interdependence of economic phenomena in bringing about these changes in his attitude to practical problems. At first sight there seem to be only two reasons why economistsshould change their attitude towards questions of economic policy either they may find that their knowledge has been inadequate, or their views on the fundamental ethical postulates (upon which, of course, every practical conclusion is based) may undergo a change. In either case the role played by science would be clear. But, in fact, the cause of the great historical changes which I am discussing seems to me to be of a more subtle kind. It consists neither of a change in the underlying ethical valuations nor of a refutation of the validity of certain analytical propositions, but rather in a change of view regarding the relevance of that knowledge for practical problems. It was not a change of ideals nor a change of reasoning but a change of view with regard to the applicability of such reasoning which was responsible for the characteristic features of the popular economics of today. How did this come about? It is a common belief that, about the middle of last century, perhaps under the influence of socialistic ideas, the social conscience was aroused by the existence of human misery which had previously escaped recognition, and it was decided no longer to tolerate it. Hence the decline of ‘the old political economy’ which had been blind to these considerations. But, in fact, nothing could be farther from the truth. No serious attempt has ever been made to show that the great liberal economists were any less concerned with the welfare of the poorerclasses of society than were their successors. And I do not think that any such attempt could possibly be successful. The causes of the change must be sought elsewhere. It is probably true that economic analysis has never been the product of detached intellectual curiosity about the why of social phenomena, but of an intense urge to reconstruct a world which gives rise to profound dissatisfaction. This is as true of the phylogenesis of economics as of the ontogenesis of probably every economist. As Professor Pigou2 has aptly remarked: â€Å"It is not wonder, but the social enthusiasm which revolts from the sordidness of mean streets and the joylessness of withered lives, that is the beginning of economic science.† The mere existence of an extremely complicated mechanism which led to some kind of coordination of the independent action of individuals was not sufficient to arouse the scientific curiosity of men. While the movement of the heavenly bodies or the changes in our material surroundings excited our wonder because they were evidently directed by forces which we did not know, mankind remained—and the majority of men still remain—under the erroneous impression that, since all social phenomena are the product of our own actions, all that depends upon them is their deliberate object. It was only when, because the economic system did not accomplish all we wanted, we prevented it from doing what it had been accomplishing, in an attempt to make it obey us in an arbitrary way, that we realized that there was anything to be understood. It was only incidentally, as a by product of the study of such isolated phenomena, that it was gradually realized that many things which had been tak en for granted were, in fact, the product of a highly complicated organism which we could only hope to understand by the intense mental effort of systematic inquiry. Indeed, it is probably no exaggeration to say that economics developed mainly as the outcome of the investigation and refutation of successive Utopian proposals if by utopian we mean proposals for the improvement of undesirable effects of the existing system, based upon a complete disregard of those forces which actually enabled it to work. Now, since economic analysis originated in this way, it was only natural that economists should immediately proceed from the investigation of causal interrelationships to the drawing of practical conclusions. In criticising proposals for improvement, they accepted the ethical postulates on which such proposals were based and tried to demonstrate that these were not conducive to the desired end and that, very often, policies of a radically different nature would bring about the desired result. Such a procedure does not in any way violate the rule, which Professor Robbins4 has so effectively impressed upon us, that science by itself can never prove what ought to be done. But if there is agreement on ultimate aims, it is clearly scientific knowledge which decides the best policy for bringing them about. No doubt the economist should always be conscious of this distinction; but it would certainly have been nothing but intolerable pedantry if, in discussing practical problems, the economist had always insisted that science by itself proves nothing, when in fact it was only the newly gained knowledge which was decisive in bringing about the change in their attitude towards practical affairs. The attitude of the classical economists to questions of economic policy was the outcome of their scientific conclusions. The presumption against government interference sprang from a wide range of demonstrations that isolated acts of interference definitely frustrated the attainment of those ends which all accepted as desirable. But the position of the young science which led to conclusions so much in conflict with the result of more primitive reflections was bound to become difficult as soon as—following its first triumphant success it became more conscious of its remaining defects. And those who disliked its conclusions were not slow in making the most of all the defects they could find. It was not the practical preoccupations of the economist which were responsible for this result. It is by no means certain that economics would have been less disliked if economists had been more careful to distinguish the pure theory from the more applied parts of their conclusions. It is true that economics was contemptuously dubbed’ a mere utilitarian science because it did not pursue knowledge for i ts own sake. But nothing would have aroused more resentment than if economists had tried to do so. Even today it is regarded almost as assign of moral depravity if the economist finds anything to marvel at in his science; i.e., if he finds an unsuspected order in things which arouses his wonder. And he is bitterly reproached if he does not emphasise, at every stage of his analysis, how much he regrets that his insight into the order of things makes it less easy to change them whenever we please. The attack on economics sprang rather from a dislike of the application of scientific methods to the investigation of social problems. The existence of a body of reasoning which prevented people from following their first impulsive reactions, and which compelled them to balance indirect effects, which could be seen only by exercising the intellect, against intense feeling caused by the direct observation of concrete suffering, then as now, occasioned intense resentment. It was against the validity of such reasoning in general that the emotional revolt was directed. Thus, temporarily, social enthusiasm succeeded in destroying an instrument created to serve it because it had been made impatient by the frequent disappointments which it had occasioned. It is not to be denied that, at this early stage, economists had not yet become quite conscious of the precise nature of their generalisations. Nor can it be questioned that on some points, such as the theory of value, they proceeded on very unsatisfactory general assumptions. To what extent the actual foundations of the classical system were influenced by the fashionable philosophy of the day has been made clear by the distinguished author of Philosophy and Politi cal Economy. It is clear that anything which justified the treatment of practical problems as something unique, determined only by their own historical development, was bound to be greeted as a welcome relief from the necessity of controlling e motions by difficult reasoning. It was just this advantage which the historical method afforded. Refusing to believe in general laws, the Historical School had the special attraction that its method was constitutionally unable to refute even the wildest of utopias, and was, therefore, not likely to bring the disappointment associated with theoretical analysis. Its emphasis on the unsatisfactory aspects of economic life, rather than upon what was owed to the working of the existing system, and what would be the consequences if we tried directly to control some of the recognised evils, strongly recommended it to all those who had become impatient. For a considerable time, mainly during the last third of the nineteenth century, the two schools which now existed not only employed different methods, but also turned their attention to different problems. The more theoretically minded had to concentrate rather on the revision of the fundamental principles which had been damaged by decades of attack, and had to leave the more applied parts to others who were coming more and more under the influ ence of the historical method. So long, however, as this part of the task was left to men who had previously become acquainted with the general principles of analysis—and who were, therefore, immune from the more popular fallacies the fulleffect of this change did not become apparent. The distinguished economist to whose memory this chair8 is dedicated, and with whose long and fruitful career Professor Gregory has made us familiar,9 offers a conspicuous example of the nature of this change. Thomas Tooke could never have become one of t he leaders of the free-trade movement in his early years, and remained its lifelong advocate, if he had applied to the problems of international trade the same purely inductive methods which, in his later years, he considered as exclusively decisive in the discussion of monetary problems. As so frequently happens, it was only in the second generation of the new school that the lack of the tools necessary for the interpretation of the intricate phenomena they were busy describing made itself felt. And so it came about that, just at the time when the theorists were most successful in constructing a sounder analytical basis for their science, the superstructure of more concrete applications which had been left in the hands of the more practical-minded men fell gradually, more discredited than disproved, into oblivion. And, in consequence, many of the palliatives and quack remedies which, in the past, had been rejected because, even judged by the analysis of the classical system, their indirect effects were seen to be obviously more objectionable than their immediate benefits, were introduced by the new generation of historical economists, until the reaction was carried to a point at which the futile attempts to redress special grievances by short-sighted State action cou ld hardly have been more numerous if an analytical science of economics had never existed. It is no accident that the return of protectionism which followed the free-trade era of the nineteenth century was the work of men under the influence of this school. It takes a long time to rebuild the structure of a science if one starts by revising the fundamental concepts. And the modern revision of theoretical economics has occupied sufficient time to allow what was at first the heretical view of a number of radical economists. who had tofight what was then the conservatism of the practical men who were still under the influence of economic liberalism—to pervade the thought of the public and to establish itself as the dominating doctrine, not only among advanced social reformers, but even among the most conservative businessmen.

My personal philosopgy of education

My personal philosopgy of education A teachers philosophy of education is a decisive building block in her or his move toward children future learning. Therefore, there are five key educational philosophies used in my personal education philosophy. These include Essentialism, Perennialism, Progressivism, Existentialism, and Behaviorism (Sadker Sadker, 1994, p.382). Each carries both optimistic and pessimistic beliefs, in my opinion. Therefore, I prefer a diverse opinion in my pursuit of an educational philosophy. My ideal educator is one, who inspires knowledge in addition to providing the required block of instruction. A certain amount of imagination, passion, and enthusiasm is necessary of the teacher. Unquestionably, this is a high demanding goal for anyone in a profession like this on a daily basis. However, considering our children future is on the line its a small price to pay. The three major philosophies that go with my personal philosophy of education are Essentialism, Progressivism and Behaviorism. The first, American Essentialism, is grounded in a traditional American philosophy that accepts the political, social, economic composition of American Essentialists accept as true that teachers should encourage such customary American qualities as respect for authority, determination, commitment to duty, kindness for others, and common sense (Sadker Sadker, 1994, p.369). In the classroom, predictable disciplines are taught such as history, math, natural science, literature, and foreign language, which shape the basis of the curriculum. The teacher serves as a thinker and key role model for the students. The academic agenda is good for both slow and quick learners. Also, it is hoped that after the student leaves school, they will acquire the basic fundamental skills and knowledge to become productive members of society. However, the inflexibility of this phi losophy, by itself, does not always fit the concern of all students and that is where the principles of the progressive philosophy come into the picture. Progressivism believes is strongly grounded in individualism. My opinion is that hands-on experience is required to effectively learn many skills. For example few people would be able to learn to drive a car by just reading about it or hearing a lecture on how to drive. The practice of skills is critical in the learning process for many learners. Their knowledge increases when they are engaged in activities that have implication on them (Gutek, 2009, p.93). In a progressivist classroom, teachers plan lesson plans that stimulate interest and interaction among the students which provide for a higher level of knowledge for the group. The students are strongly encouraged by the teachers to solve problems by interacting in small groups surroundings. This develops social skills such as teamwork and open-mindedness for dissimilar points of view. Additionally, students solve problems in the classroom similar to those they will meet in everyday life. This provides students with the skills nee ded to become an effective problem solver in preparation for adult lives. A critical component of successful training is the effective transfer of knowledge, skill, and abilities from the learning environment to the actual job. If students only perform the skills in the classroom and do not utilize it on the job then the training was wasted (Buhler, 2002, p.146). Progressivists believe that this approach to education is an everlasting educational process of enduring expansion (Sadker Sadker, 1994, p. 372). With the set of courses addressed, I believe it is essential to talk about classroom management. This is where the philosophy of Behaviorism comes into place. Skinner, the father of Behaviorism, believed that proper motivation does not come from within, rather it is the reinforcing opportunities of the environment that serve to strengthen or reduce behaviors (Cooney, Cross, Trunk, 1993, p. 220). Basically, it depends on the skills of the teacher to make a classroom environment where the challenge of learning creates a suitable conduct in the classroom. By positive reinforcement, students will conduct themselves well toward each another, sit quietly and listen, and interact when required. Discipline is just as important as learning the course work (Sadker Sadker, 1994, p. 212). However, in the current American society, there is one more viewpoint to be considered when you designing a personal philosophy of education. One that goes outside the established role of the classroom discussed beforehand. The important factor is the elimination of parents from the residence. Many households are run by a sole parent or both parents are needed to supply incomes just to sustain the necessities. This situation in my opinion is contributing too many of the problems facing educating our children. Many students are not arriving at school prepare to learn the basics, of reading, writing, and arithmetic. The goals of economic viability, good citizenship, and the other social virtues are even harder to achieve when these children have not had the opportunity to learn the basic mores of our society (Martin, 1995, p.356). Consequently, we as educators are dealing with this problem and still trying to educate the students. Dewey could not have said it better The sole goal of ed ucation is growth (as cited in Gutek, 2009, p.92). Students grow to be the best that they can be. There is no easy solution to this problem and teachers cannot solve this problem along. The solution to this problem must start with the parents excepting responsibility for the upbringing of their children Basically, I believe the views that I have selected from the different philosophies of education correspond to what would be my approach to teaching. In addition, this different approach allows for you to have common characteristics over the six branches of philosophy. Existentialism, moral principles, metaphysics, and reason would be covered just by the very nature of its philosophy. Teachers serve as role models for the learners to instill American qualities and when combined with the science, metaphysics and common sense everything fall into place. Behaviorism is also covered under the moral code, as it develops the guiding principle for appropriate behavior of students. Four of the Progressivism branches covered includes: axiology, epistemology, aesthetics, and common sense. Epistemology is an examination into how we are to be taught. The function of progressivism is to search for ways to accommodate the learners individuality: for that reason, this will comprise learning styles and educational values. Progressivisms last branch is common sense and it is what the students, will remember most because, what is learned in the school has meaning to the real world. History is an art as well as a science so there is many opportunity to discover the reasoning by both inductive and deductive methods behind the actions of our forefathers and how it affects us now. Accordingly, my personal philosophy is build from those five pillows. I do believe that to be an educator, the individual must have the patience, the love, the desire, and stubbornness to face all the challenges that I previously mentioned and to make a difference in our children, our future. All children I believe can achieve their full educational potential under the right circumstances. The dream of my prospect classroom reflects all of these points. It is my expectation that, as I teach the knowledge required, I will also manage to motivate and inspire my students to reach for the sky.

Characters, Themes and Imagery in Their Eyes Were Watching God Essay ex

Characters, Themes and Imagery in Their Eyes Were Watching God      Ã‚  Ã‚  Ã‚  Ã‚   Zora Neale Hurston was one of the first widely acclaimed black writers to "assimilate folk tradition into modern literature and express her interpretations of the black culture throughout her books" (Bailey, 175).   She was also one of the most influential of black American writers during the twentieth century because she exceeded the barriers of race, sex and poverty.   Hurston's most acclaimed work is said to be Their Eyes Were Watching God, and has been read, adored, rejected, reviewed, and badgered by many literary critics.   "In a book rich with imagery and black oral tradition, Zora Neale Hurston tells us of a woman's journey that gives the lie to Freud's assertion that 'the difficult development which leads to femininity seems to exhaust all the possibilities of the individual'" (Morgan, 163).   In this as well as in other of her writings, Hurston expresses many of her opinions of race relations, sexism, and classism through her characters, themes and imagery.    The novel, Their Eyes Were Watching God focuses on a character named Janie who is raised by her grandmother on a white plantation in Georgia, and until seeing a photograph of herself, she has always assumed that she is white.   She loves her grandmother, but after her grandmother's death, she realizes that she resents her as well.   Her grandmother has been strict with her and has taught her that love is obtained only through marriage.   Janie feels that her grandmother has taken all of her dreams away.   Although she is independent, Janie marries three times.   Because of her grandmother she marries Logan Killicks, who works Janie so hard that she decides to leave.   Then she meets Joe Star... ...ir Eyes Were Watching God. New York: Bloom's Literary Criticism, 2008. Print. Dawson, Emma J. Waters. Images of the Afro-American female character in Jean Toomer's Cane, Zora Neale Hurston's Their Eyes Were Watching God, and Alice Walker's The Color Purple. Michigan: UMI Dissertation Information Service, 1990. Hurston, Zora Neale. Their Eyes Were Wagvtching God: A Novel. New York: Perennial Library, 1990. Print Kubitschek, Missy D. "`Tuh de Horizon and Back': The Female Quest in Their Eyes Were Watching God." BALF 17.3 (Fall 1983): 109-15. Morgan Grant, Alice. ed. All About Zora: Views and Reviews by Colleagues and Scholars. Florida: Four-G Publishers, Inc., 1991. Wall, Cheryl A. "Zora Neale Hurston: Changing Her Words," American Novelists Revisted: Essays in Feminist Criticism. Ed. Fritz Fleischmann, New York: G.K. Hall and Co. 1982:371-93.   

Existentialist Themes Of Anxiety And Absurdity Essay -- Philosophy Phi

Existentialist Themes of Anxiety and Absurdity In a world with such a vast amount of people there exists virtually every different belief, thought, and ideology. This means that for every argument and every disagreement that their exists two sides of relative equal strength. It is through these disagreements that arguments are formed. Arguments are the building blocks in which philosophers use to analyze situations and determine theories of life. For the purpose of this paper I will try and argue my personal beliefs on a specific argument. This argument is presented in a form of a question and upon examination of the contents of this question, several different and unique questions arise. In order to support my theory as to the answer to this question I will attempt to answer the three subquestions which deal less with the content of the question itself and more with the reaction to reading the question. Also key to the support of my theory is the concept of existentialism. I will go into the foundations of this ethical theory throughout the remainder of this paper. Subquestion one, â€Å"E --> C†, simple asks whether it is true or false that if you have an ethical theory then does it have to be consistent. Subquestion two, â€Å"(?) --> H†, poses the idea of what makes up the essence of being a human being. Subquestion three, â€Å"E --> (H --> M)†, asks whether it is true or false that it is ethical to assume that humans should be given moral priority over animals. I order to support my interpretation and answer the topic question, I will try to explain my personal ethical theory. We were given several different theories in which to emulate or pick pieces of in order to define such words which have different meanings to different people. For such vague words such as `right' and `wrong', the context in which they are presented are vital pieces in order to define them. It is my belief, and a necessary requirement of this paper to somehow define these two words. It is obvious that these two words must be opposites of each other. Therefore, the understanding of one will easily lead to the understanding of its opposite. However, the words themselves will never be anything more than five letters grouped together. This is because your ethical theory and someone else's ethical theory could possible conflict causing for a discrepan... ...kill as a means of survival. At this point in time it is only necessary to kill certain animals as a form of food source and for other luxury items. There have been times when it was necessary for humans to kill an animal for food. I wonder if a person who did not eat meat would starve to death if the only thing to eat was meat? And as long as we do not over kill a certain species then they will continue to reproduce and the food chain will continue to work. Being descendants of other living things, humans must insure that nature is let to work on it own, continuing to do what it has done for many years.   Ã‚  Ã‚  Ã‚  Ã‚  In response to subquestion one, I do not feel that it is possible to remain consistent in any ethical theory in which you live by. This is mainly because every ethical theory that I now of is entirely too focused and usually not completely relevant to every circumstance. The more broad your definition or theory is then the closer you come to the only one that will always work. The less you say what you can and cant do, the closer you come to saying nothing. Once you have generalized your theory so much that you eliminated everything then you are stuck with

How Multi-Agency Teams Work Together to Form a Support Network

14. 4. 2 Peter explained that multi-agency teams work together to form a support network, they also work together to make the best plan/programme for the parents, school and child to get the best possible outcome and the child to achieve their potential. A child struggling with communicating and language may see a speech and language therapist, special education needs co-ordinator, psychologist, depending on the child’s requirement all have a different job within the team to get the best out of the child. Special Education Needs Co-ordinator – They organise all the members in the team and keeps checks on how things are going and making sure that all members are talking to each other by planning meetings. Speech and language therapist – They diagnosis the communication delay and advice on ways the child can be helped and sets down a plan/programme. If a child is coping with other forms of disability then there are other team member that can help to bring the best out in a child, if they are have a visual impairment or have autism. Sensory support teacher – help children and advice schools that have visual or auditory impairment on how to keep the child involved and what they need to do extra to make the child feel at ease. Autism advisory teacher- advise schools on the needs of a child with autism, who maybe struggling with social interaction and communication. They may work with the child at the school to get the best outcome. If none of the above are having affect and the child still doesn’t seem to be making the right progress then an Educational Psychologist may come involved to talk to the child and find out if there are other problems affecting the child that other members in the team cannot see. All the above have to have a good working relationship together to get the best outcome for the child, each on brings different advice and support for the parents and school so that their child can achieve the best in either the fastest time or over a long period.

Factors to take into account when assessing development Essay

Explain the factors that need to be taken into account when assessing development. 1)Confidentiality and Consent. All assessments must remain confidential and should only be shared with those who have a professional need to know, such as line managers and social services etc if necessary. Parents and carers must give their consent before assessments can be carried out. 2)Wishes and feelings. The assessment must stop if the child does not want to continue or becomes upset. The Childs emotional state needs to be considered and any problems at home need to be taken into account. 3)Disability or specific requirements. A child who has a disability should not be compared to another child but should be assessed in line with their own development rate. Extra care must be taken so as not to under estimate the abilities of children who have specific needs or a disability. 4)Ethnic, linguistic and cultural background. Children who come from different backgrounds may have a variety of ideas as to what is acceptable and how to behave in various situations. 5)Avoiding bias. Be objective when assessing development in order to give an accurate picture of actual progress. If possible the child should be observed by two adults at the same time. 6)Reliability of information. Read more: Explain how children and young people’s development is influenced by a range of external factors essay The information gathered must be from a reliable source in order to achieve an accurate picture of development. 7)Open and closed recording method. The way in which information is recorded should meet its intended purpose. This may be an account of the child did, or a summary of that information, e.g., the child uses a spade to fill the bucket with sand, or the child plays with the sand. 8)Mixing methods of collecting observations. Narrative. This is a record of events in a timeline sequence. Time sampling. Recording how often particular types of behaviour occur. Event sampling. To document how a child reacts to a particular event which is pre-set. Modified child study techniques. This checks the behaviour or traits of a child before, during and after specific behaviour, and records the levels and frequency of behaviour.

Financial Planning (Insurance) Case Study Essay

Allison has recently been promoted by her employer, Best Marketing, and now earns $135,000 p. a. working full time. She has commenced salary sacrificing 30% of this amount into superannuation, and her employer contributes Superannuation Guarantee Contributions of 9% of her remaining cash salary. The fund is a balanced growth retail superannuation fund, MM Superannuation. Her current balance is $160,000 and earns on average 7% p. a. after fees and taxes. She also has $100,000 in term life and TPD insurance cover within her superannuation fund. She drives a 4-year old Land Cruiser that is fully paid for. It has low kilometres and she expects to keep it until she retires. She will then need $30,000 to purchase a new car on top of the trade in she expects to receive from the Land Cruiser. Simon works for Newbold’s Pty Ltd, a company which makes custom furniture. He earns around $45,000 p. a. and intends doing this work for the foreseeable future. He is supplied with a work vehicle and his employer pays his SGC based on his $45,000 salary. Simon has $47,000 in superannuation savings, held within the PP Superannuation Fund. The funds are invested in a balanced/ conservative portfolio with a low allocation to growth assets that earns around 4% p. a. after fees and taxes. They are living on a semi-rural property which is valued at around $750,000, but they currently have a mortgage of $150,000 as a line of credit. They are paying approximately $1,000 per month as interest-only payments. Their other personal expenses are around $40,000 p. a. and they spend an additional $15,000 p. a. on holidays. Aside from private health cover, car, and house and contents insurance, the only personal insurance they have is the coverage provided in Allison’s superannuation fund. They do not have a will or any powers of attorney but they want to ensure they have sufficient money for their grandchildren (now aged 6 and 4 years) to attend university. They estimate they will need to accumulate approximately $120,000 (in today’s dollars) over the next 12 years to pay for this. Allison wants to work for five or six more years and they wish to pay off the remainder of the mortgage over that time. She also wants to increase the amount of money in both her and Simon’s superannuation. When she retires she believes they will need $40,000 (in today’s dollars) for their living expenses in retirement, but Simon intends to continue working part time and estimates he will earn $20,000 p. a. They intend to use Simon’s income to fund any holidays. Aside from their superannuation assets, they have $9,000 in a bank account for emergencies earning 4% p. a. , $15,000 in a term deposit earning 5% p. a. and $12,000 in a cash management account earning 5. 5% p. . They are not happy with the taxation implications of these accounts, as any interest earned on the term deposit and cash management accounts seems to go in tax. You ascertain that they both have balanced risk profiles. Required: You are required to provide written responses to the following scenarios and questions, either in short answer form or using bullet points (or both). The following attachments are included : †¢ Sample Financial Services Guide (Personal Advice) †¢ Sample Fact Finder and Risk Profile Questionnaire †¢ Sample Ongoing Service Options – Establish Relationship with Client You are preparing for an initial interview with Simon and Allison Callahan. a) Give some thought to the sort of things you would cover. Include any legal requirements and other documentation which may be helpful in the interview. For the initial interview with the clients I would cover what Azza financial services stands for, their commitment to the customer and any legal implications, go over the financial services guide (send out with letter before hand) and privacy policy and compliance. I would also make the customers aware that the information they are providing is to be used solely for the purposes of assessing their situation to help them get to a better financial position. I would allow the customers to do most of the talking, recording their responses in a fact finder, and ask the client to complete a risk profile questionnaire to get a feel for what their financial position is at the present, what kind of expectations they have on Azza financial services, how much risk they are willing to take on and if there is anything about their situation that might prevent Azza financial from providing advice to the client. )How might you ask the client to prepare for the first meeting? By sending a confirmation letter indicating how long the interview will likely be, the purpose of the interview and what is the outcome intended, advising the client if there are to be any fees paid, providing the client with a list of documents to bring (eg current insurance policies, sup er statements, current investment schemes, income and expenses, latest tax returns, valuations of assets such as property, bank and credit card statements. ) To establish 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 feel more comfortable †¢ ask open ended questions to show clients you are interested in the personally and want to hear what they have to say. d)What are the four points you must cover when presenting a Financial Services Guide? 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 Procedure s = make sure to completely explain the procedures for handling customer complaints †¢ Relationships = explain any relationships which might influence which products are recommended or provided e)List the type of fees you could charge the clients. What are the benefits of explaining these fees to the Callahans? Types of fees which could be charged to the clients if they choose to implement the prepared plan are: plan fees (often charged regardless if plan is accepted), commissions, entry fees, management fees, account keeping fees. The benefits 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 protection 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. )Nominate the range of financial products and services you will be providing advice in. Name the benefits 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 investment schemes, general and specialized superannuation schemes, estate planning issues (although a lot will be directed to a solicitor if I am not qualified 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 more aware of what it is Azza financial services can 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 puts everyone on the same level expectation wise. The clients also may not have been aware of particular products and services offered which once explained may 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 contacting the ASIC. †¢ Clients should first contact their advisor to make sure that their disatisfaction is not due to a misunderstanding or something which can be ammended to their satisfaction. I would endeavour to solve their complaint within 3 working days. †¢ If the clients are still unhappy , they should lodge a formal complaint with the liscensees internal complaints process and allow appropriate time for this to be acted upon. If the clients are still unsatisfied with the outcome they may then contact the Finance Industry Ombudsman Service (FOS) for complaints involving losses of less than $500,000. FOS first trys to negociate and outcome between the involved parties, if this is not possible the matter 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 client’s goals, objectives and financial situation? Fact finder †¢ Financial documentation – tax returns, statements, scheme overviews etc †¢ Use of open ended questions †¢ Diagnostic questionnaires †¢ Risk profiling b)Using your case study, complete the attached Fact Finder with as mu ch information as you can. Remember that this document is used to collect current 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, write down one or more specific financial goals for the generic needs provided. Wealth creation for a specific purpose |Start increasing Allison and Simons Super balances ($160K and $47K) | | |Pay for grandchildren’s university in 12 years – estimated needed | | |$120K in today’s dollars | |Wealth protection |Take out Personal insurances to avoid eroding savings if something | | |unforeseen happens – income protection, trauma, evaluation of current | | life and TPD | |Debt reduction |Pay off IO mortgage of $150K in 5 years | |Tax minimization |Save on tax on bank accounts/term deposits | | |Possibly downsize family home and move mortgage to investment property| | |to save on tax | |Superannuation |Start in creasing Allison and Simons Super balances ($160K and $47K) | | |and evaluate suitability of current funds | |Investment Planning |Possibly purchase Investment property to produce another income stream| | |and save on current tax | | |Look into other investment options to diversify current wealth | |Estate Planning |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 obtain further clarification of the client’s goals and objectives. Use open-ended questions starting with What, How, When, Why and Where. †¢ Apart 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 issues that could affect your ability to work? †¢ Simon, what sort of duties do you perform 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 details 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? No 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 lump sum 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 meeting? Immediately after the first interview I would Clearly write down everything which needs to be investigated or researched, 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 can prove 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 authority accepting the preparation and research 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. Complete the sample Risk Profile Questionnaire to reflect this. See risk profile 3- Analyse Client Objectives & Financial Situation Will Simon and Allison’s current financial circumstances and other concerns meet their objectives without your assistance? a) Why/why not? No, Simon and Allison’s current financial set up is not adequate to allow them to meet their goals and objectives. This is because they are note contributing enough in their superannuation to achieve their desired balances, they do not have any estate plans in place, 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 personal insurance are grossly insufficient to keep them in their current lifestyle and meet expenses should something happen to one of them. ) List the assumptions you made. †¢ 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 Taxation †¢ Allison and Simon have used an Accountant in the past to prepare their yearly tax returns †¢ The average expected 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 Office 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) Describe two research processes you can use to gather information about products and services you recommend to your clients. †¢ Independent research houses (eg Standard and Poors and Morning Star) †¢ Internet sear ches eg ASX, AFPA, ATO etc †¢ Product disclosures, rankings, past performance of companies, Financial review newspaper etc Refer to your case study, Fact Finder and Risk Profile Develop a strategy for each of the following points for Simon and Allison. Describe each of your strategies in terms of key characteristics, advantages and disadvantages. b) Please address Allison’s insurance requirements. Your response should include a brief description of each type of cover and actual amounts recommended. Include calculations and explanations of amounts. †¢ Term Life: – term life insurance provides a bulk payment to the beneificiaries of a person upon their death, or in some cases when disgnosed with a terminal illness the person insured can also received the payment. – offered to people from 16-75 and can renewed until age 99. Can 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 peace of mind knowing that they are n ot leaving their loved ones in poor financial 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 meeting these expenses (whilst still working) if allison were to becomed deceased, 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 education, bringing the total life benefit to $745,000. †¢ Income protection: – A fortnightly or monthly payment paid to the insured in the event that they suffer and injury or illness which leaves them unable 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 agreed value (specified value to be paid regardless of difference bet ween insureds current and former incomes) indemnity (benefit based 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 their 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 currently does not have income protection insurance in place which could end diasterously as she earns 75% of the couples gross income. [(180,0 00/100) 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 sight 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 automatica lly 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 rewarding 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. †¢ Trauma: – 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 limit criteria apply) – Advantages are 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 contribute 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 following polices to provide stability and peace of mind for Allison in the event something should happen to him. †¢ Term 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 protection policy could be put in place for 75% of his income. [$45,000 x 75% = $33750 ($33750 / 12 = $2812. 5]. this w ould mean Simons monthly benefit woul be $2812. 5 (75% of his monthly income). D) What is the most efficient 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 contributions 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 achieve the above stated 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 effects of compounding interest, after 5 years Allison’s 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 Sacrifice 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) Are 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. Allison’s income protection policy (and Simons if taken out) are also tax deductible. Simon is also eligible for the low income tax offset 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 recommendation regarding an investment for the grandchildren’s university education? What are the benefits of this investment? For the grandchildren’s 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 effects 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 withdrawn 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 names and are therefore subject to Allison’s 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 think 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 loan and purchasing the new car upon retirement? In order to pay out their home loan in 5 years time, Allison and Simon would eed to put around $40,000 P/A towards due to interest payable. After Allison’s 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 uncovered 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 wasting money for Allison and Simon as Simons income in relatively small in comparison to Allison’s, 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 Allison’s salary sacrifice through decreasing her MRT far outweigh that of Simons and it was therefore better to prioritise with Allison’s SS and utilize Simon’s income for expenses. Investments – For the grandchildren’s 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 Prior to Presentation a)Describe what preparations you would undertake to present your strategies in step 4 to Simon and Allison. After thorough research enabling me to form my recommendations, I would prepare a Statement 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 performance 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 strategy 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: ? Statement of Advice The statement of advice must have â€Å"statement of advice† written across the front of it, it must be in non complex wording (â€Å"clear, concise and effective manner†), must have a â€Å"generic description of the range of financial products or strategies considered and investigated†¦Ã¢â‚¬ . The customer must receive a copy, along with PDS and FSG and must have signed and had the SOA presented to them BEFORE any implementation of strategies can be put in place. A disclaimer is also usually placed at the bottom of the SOA to protect the financial planner 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 accompany the SOA so the clients have all the information in relation to possible products they are signing up to. Other things which need to be in the PDS include: Fees and charges = explain what fees might be applicable, including ben efits 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 sighted with your eyes. We 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 review your situation in order to alter your plan to best fit your needs, provided you would like us to provide you with this ongoing service. 2. This plan fee seems overly expensive – why do I have to pay it? – It takes a considerable amount of time, research, investigation and preparation for us to put together a plan that is tailored entirely according to your personal needs. There are no generics or assumptions made with what we are presenting you and the savings and earnings 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 plan. 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 Callahan’s have decided to proceed with your recommendations in step 4, providing an indication of when each must be completed. A – Adviser C – Client | No. Action |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 c lient 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. | | | |Obtain Cheque from Client and attach to application form to be sent to dealer group |A |With step 4 | | |Welcome letter from dealer is issued |A /Dealer |- | | |Secure client file established (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 environmental (economic, market, regulatory) changes, or changes to their personal or financial situation would cause a review of their plan? †¢ Interest rate changed may affect tax advantages, investment earnings †¢ New regulatory changes may grandfather or c ompletely 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 reassess the financial commitments they can keep up with †¢ Clients may have come into a considerable amount of money unexpectedly allowing for more room to move in current 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 review/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? ( â€Å"No service† ( â€Å"Portfolio valuation† ( â€Å"Portfolio review† ( â€Å"Financial Plan review† ( â€Å"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 annual 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 returns 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 DETAILS |CLIENT 1 |CLIENT 2 | |Title: |Mrs |Mr | |Given Name: |Allison |Simon | |Preferred Name: |Allison |Simon | |Surname: |Callahan |Callahan | |Date of Birth: |1956 |1958 | |Marital Status: |M |M | | | | | Home Address: |Address: Lot 3 Wattle Road | | | | | |Suburb/Town: Hurstbridge | | |State: VIC Pos tcode: | |Home Telephone No. | | |Preferred Contact No. | | | | | | | | CHILD / DEPENDENT DETAILS Name: |Megan | | | | |Relationship: |Daughter | | | | |Date of Birth: |1981 | | | | |Current Age: |29 | | | | |Financially Dependent: |NO | | | | HEALTH DETAILS Do you Smoke: |Yes / No |Yes / No | |State of Health: |Poor / Good / Excellent |Poor / Good / Excellent | |Are you aware of any health issues that may| | | |impact your ability to earn an income? | | | |(please provide details) | | | |Notes: | 2. EMPLOYMENT DETAILS |CLIENT 1 |CLIENT 2 | |Employment Status: |( Unemployed |( Unemployed | | |( Full Time Employed |( Full Time Employed | | |( Self 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 |Custom 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: | | | OTHER ADVISER DETAILS Accountant |Name: | | |Company: | | |Contact Detail: | | 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 grandchildren’s |Intention to pay for grandchildrenâ€℠¢s | |regarding your estate distribution? |university in the approx 12 years (approx |university in the approx 12 years (approx | | |$120K in today’s dollars) |$120K in today’s dollars) | 3. FUTURE NEEDS OBJECTIVE AND GOALS |E. g. Current income needs, retirement income needs, diversification, tax minimisation, capital growth, investment security, wealth creation, | |eliminate mortgage etc | |Reasons for seeking financial advice | |Gain assistance with making the transition 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 | |Have a $40K (today’s dollars) p/a retirement income stream in 5 years | |Long Term (7 year plus) | |Pay for grandchildren’s university in 12 years – estimated needed $120K in | |today’s dollars | | | | | RETIREMENT PLANNING Retirement Details |CLIENT 1 |CLIENT 2 | |Plan ned Retirement Age: |59/60 |undetermined | |Retirement Income required: |$40K (today’s dollar) |$40K (today’s dollar) | |After retirement, do you intend to work |NO |Expected Income= | |again either on a full-time or part-time | |$20K | |basis? |Till age: undetermined | |What capital expenses will you have in |$ |$ | |retirement? (Please state expense and | | | |value) | | | |Would you like some assets left to your |$ |$ | |estate? Please detail) | | | |Notes: | | | | | 4. FINANCIAL DETAILS PERSONAL BALANCE SHEET Lifestyle Assets | |Owner |Date Acquired |Value |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 Property: | | | | | |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 | EXPENSE DETAILS |COMBINED | | |Food: | | | |Entertainment: |$15,000 | | |Transport/Vehicle: | | | |Council Rates: | | | |Amenities: | | | |Rent: | | | |Mortgage Repayments: |$12,000 | | |Other |$40,000 | | |Total |$67,000 | | SURPLUS DISPOSABLE INCOME | |COMBINED | | |Annual: |$65,916 | | |Monthly: |$5,493 | | PLANNED MAJOR EXPENSES |Nature of Expense |Approx. Expense Amount |Expected Date | |Grandchildren’s university |$120,000 in today’s 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 |Policy 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 redundancy package? |Yes |No | |If you have recently received a redundancy package, please provide notice of payments. | GENERAL INSURANCE Insurance Description |Policy Number |Owner |Date Commenced |Sum Insured |Premium Payable | |Term Life and TPD |Allison |$100,000 | | | | | | | | | | | | | | | | | | | | | | | | | |Notes: | | | 6. INVESTOR RISK PROFILE Your 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 risks will be accepted to help you achieve good returns. 17 – 23 Moderately Conservative – 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 permission 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; | |( |Lim ited 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 Permission | | |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 | | | | | |Signature: | | | | | | | | | |Date: | | | | |8. Adviser’s 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. |Adviser’s Signature | |Date | | | |Additional Important Information 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 facsimile of this letter, as the original will remain on file at the offices of Mentor Financial Planning. Correspondence should be sent to Level 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 â€Å"No serviceâ €  option This 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 â€Å"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 provided to the client unless specifically requested by the client or upon the recommendation of the planner. 3. The â€Å"Portfolio review† option This 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 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 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 â€Å"Financial Plan review† option This service provides for an annual/half yearly/quarterly review of the overall financial plan strategy and the investment portfolio recommend ed. 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 objectives; ascertain if the overall financial plan and the investment portfolio is continuing to meet your financial goals and objec tives (including an insurance review); and making any new recommendations (if necessary).