Theodore Herzl Essays - Jewish Agency For Israel, Zionism, Politics

Theodore Herzl Theodore Herzl was born in Budapest, Hungary, in 1860. He was raised in an assimilated Jewish family that celebrated Christmas. He moved to Vienna, Austria, where he studied for the bar exam and later in 1884 was awarded a doctorate of law from the University of Vienna. However, instead of practicing law, he chose the dual career of journalist and playwright. His Judaism was not much of a factor in his life. In 1894, when Herzl was 34, an earth-shattering event in France transformed his life forever. He was sent there to cover the trial of Alfred Dreyfus. Dreyfus was a French Jewish Army captain accused of treason, for selling military secrets to Germany. It soon became obvious to Herzl that the charges against Dreyfus were erroneous and that he was innocent. As a Jew, Dreyfus had become the scapegoat for the frustrations of the people of France, which had just suffered defeat in the Franco-Prussian War. The Dreyfus trial had unleashed a wave of anti-Semitism in France. Herzl, whose Jewish connections were weak, nonetheless saw in the Dreyfus affair a harsh reminder of the poisonous persistence of anti-Semitism. He concluded that Jews could never be integrated fully into their adopted countries. They would always be considered outsiders. They could never feel safe from persecution except in a land that they could claim as their own. Hundreds of other Jews also saw the Dreyfus affair as evidence of incurable, widespread anti-Semitism. Yet, few, like Herzl, believed that we needed a special Jewish homeland. Soon, thereafter, Herzl wrote his first major book, Der Judenstaat- The Jewish State. Here he outlined his program of political Zionism. He wrote that the solution to the problem of Jewish vulnerability was a Jewish state. This state would be legally recognized and sanctioned by most of the worlds super powers. He even proposed the transfer of Jewish populations from around the world to that homeland. The State was to be modern, sophisticated, and technologically advanced. What Herzl did not discuss, was the Jewish content of that state. Was it to be a state of the Jews or a Jewish state? He essentially saw that place as a secular entity. It was to be a haven of safe refuge for harassed Jews, rather than a vibrant center of Jewish spiritual life. There were two groups whose religious outlook could not have been more different opposing Herzl. First were the Reform Jews. They insisted that we must live comfortably in any nation of the world where we find ourselves as citizens. They go on by saying that dont need our own land. Furthermore, the Reform Jews argued that we as Jews are not a national entity. That we are solely a religious community, and that we differ from our Christian counterparts only in one way: we practice the Jewish religion and they practice Christianity. We go to a synagogue and they go to a church. In every other respect, we are the same. The other fierce opponents to Zionism were the Orthodox. They insisted that as Jews we could not have a state of our own, until the Messiah comes. Nonetheless, Herzl was undeterred by these objections. He persisted in pursuing his goals. In 1897, exactly 100 years ago, Herzl organized the First Zionist World Congress, in Basle, Switzerland. About 200 participants representing different countries assembled there. Following the Congress, Herzl continued to try to gain support of European statesmen towards the Zionist cause. Some, like Kaiser Wilhelm II, of Germany, seemed favorably inclined, however others, like the Sultan of Turkey were unreceptive. Herzl was now somewhat discouraged by his lack of success. In fact, he was willing to settle for any land that he could obtain as a haven of refuge for Jews. Eventually he developed the Uganda Plan and negotiated with Great Britain. Great Britain proposed, as a temporary solution, that the Jews secure a section of East Africa. Herzl thought it would be politically sensible to accept the offer. He viewed Great Britains proposal to be an official endorsement of the Zionist cause. He thought that Britain would eventually come around to accepting the idea of the land of Israel as the Jewish homeland. However, the

Macroeconomics Socialism, Totalitarism and US Economics

Macroeconomics Socialism, Totalitarism and US Economics Introduction In any economic system, capitalists and managers organize natural resources, manual labor and know- how to create and bestow goods and services. The manner in which these distinct elements are brought together and used is a sign of the state’s political principles and culture. The U.S. system of government is known as federal and is composed of three different subdivisions.Advertising We will write a custom report sample on Macroeconomics: Socialism, Totalitarism and US Economics specifically for you for only $16.05 $11/page Learn More These include the lawmaking subdivision, the judiciary, and the executive. The U.S. has a capitalist economy whereby small groups of persons manage large sums of money and make significant economic impacts. The capitalistic economy of the U.S. has two approaches which include the standard and the nation-building approach. The standard approach is temporary and non-strategic. It views market improvement as a n economic issue and promotes narrowly definite and self-sufficient leadership. The state building approach is characterized by pragmatic sovereignty, sufficient governing bodies, cultural match and deliberate leadership (Flynn McConnell 214). Socialism is a type of government in which the community is subject to property and wealth allocation. This management may be carried out via famous persons or via the state. As an economic scheme, this type of government is exemplified by collective possession of production means and is thus accredited to communism largely because of the allocation of wealth managed as intact and un-independently. Socialist economics are the financially viable theories and activities of theoretical and accessible socialist economic structures. Socialist economy relies on public possession or sovereign cooperative possession of production techniques.Advertising Looking for report on business economics? Let's see if we can help you! Get your first pap er with 15% OFF Learn More In this economy, production is done to create use-value that is coordinated via economic scheduling. Totalitarianism is a form of government whereby personal freedom is restricted and all aspects of a person’s life are subordinated to the governments rule. It is a social philosophy that is understood as total control over communal activities. It is trusted that this form of government is an answer to economic problems in a nation. Totalitarian governments receive devastating support for their opinions and objectives when it comes to economic development. This paper will compare and contrast the approach to economics of the U.S. system of government to socialist and totalitarian forms of government. Discussion Compare and contrast the approach to economics of the U.S. system of government to Socialism Capitalism, which is the economic system in the U.S, and Socialism are both economic schemes. In capitalism, the economy is privatized while in socialism, there is a central government that directs the economy. While the socialist form of government vests more authority into the political organization, the capitalist economies in the U.S. contemplate more power under the rich businesspersons whose goal is profit maximization. Socialist economies are characterized by greater management by government. This leads to political goals of equal dissemination of resources in the society. In capitalism, there is equal economic prospects with minimal or no government intrusion while in Socialism, there is equal economic prospects with government intrusion. In capitalism, cartels can easily demolish an economy by manipulating every production means where as in socialism, schemes that cannot stand on their own such as welfare act as fiscal black holes. Both capitalism and socialism are fiscal ideologies though the aim of capitalism is profit and that of socialism is wellbeing. The United States economy may be depicted as a mix ed economy whereby the government works together with private enterprises to improve the economy. The United States, just like any other urbanized nation, has to endorse socialist laws via courier democracy to make it possible for smaller companies to expand and generate competition.Advertising We will write a custom report sample on Macroeconomics: Socialism, Totalitarism and US Economics specifically for you for only $16.05 $11/page Learn More In socialist economy, goods and services are generated directly for consumption. This is in contrast to the capitalist economy in the United States where goods and services are created for profit. Goods are produced due to their value thus ignoring the need for market-stimulated wants. Production in this type of economy is thus planned or harmonized and does not face problems arising from the business cycle. This is inherent in the United States capitalist economy. Nearly all socialist economies apply land, labor, c apital and entrepreneurship to their economic planning and not to the distribution of products produced for use as in the capitalist economy. The possession of production means in a socialist economy can be public, cooperative or communal. Economic planning in socialist economy takes a distinct form compared to economic planning in capitalism. In socialism, planning is understood as the creation of use-value in a direct manner while in capitalism, planning is taken to mean the arrangement of capital buildup to stabilize or augment the effectiveness of this process. Socialist economies ignore the free market and its price indicator. Its lack of enticements leads to a slow GDP growth. This is different from capitalism which has a high growth due to the presence of price indicators. It is thus easy to compute rationally how to distribute resources (Mai 145). Compare and contrast the approach to economics of the U.S. system of government to Totalitarianism Capitalism and Totalitarianism are both economic schemes. In capitalism, there is equal economic prospects with minimal or no government intrusion while in totalitarian economy, everything is controlled by the society. In capitalism, cartels can easily demolish an economy by manipulating every production means where as a totalitarian economy concentrates more on distributing rather than generating wealth.Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More In capitalism, the economy is privatized while in totalitarianism, there is an oppressive authority which does not provide its citizens any rights or liberty (Mai 149). The capitalist economy in the United States is a market economy whereby prices arising due to competition establish what goods are produced together with their quantities. Prices in this economy also result in fair relations amongst the several sections of production to overcome disputes. A capitalist economy is managed by the market laws and the sovereignty of these laws comprises the influential sign of the capitalism. Totalitarian economy, however, precisely gets rid of the sovereignty of economic laws. It signifies not a market but an economy of the final consumer. In this economy, a state planning charge determines the goods produced and how they are produced. Though price charges and wages subsist in this economy, they no longer play a role in determining the production process. They only become distribution me ans establishing the share that a person gets. In this economy, both the motivating competition fire and the obsessive striving for proceeds offering the main incentive of capitalism vanish. The central notion in the totalitarian economic system is the achievement of a certain goal. This goal is the rationale why a totalitarian regime exists and all the resources are aimed at the accomplishment of the goal (Mai 187). Flynn, Sean and Campbell McConnell. Macroeconomics. New York: McGraw-Hill, 2009. Print. Mai, Ludwig. Approach to economics. Littlefield: University of Virginia Publishers, 2010. Print.

A restaurant Essay Example | Topics and Well Written Essays - 500 words

A restaurant - Essay Example The first point of interest to me in that situation would immediately be the safety of myself and of my friends; with the safety of other restaurant patrons being included in this overall level of concern as well. Secondly, I would most likely get down and instruct all of those around me to get on the ground and maintain a low profile; i.e. in other words not allow the shooter to have any type of discernable target to focus his fire upon. The second thing that I would do is try to organize a fast exit for my friends and the other people within the restaurant. Although it is helpful to get down low and try to present the shooter with a small of a target as possible, an even more important factor will be to evacuate the place as soon as humanly possible. Due to the fact that it is unknown what the shooter ultimately intends on doing combined with the fact that sitting around and waiting for the worst is foolish. The third item that I would attempt would be dependent upon the situation and overall proximity that I had to the shooter in the case in point. If I was in a situation in which I could throw something, distract, or otherwise incapacitate the shooter I would do so as both a means to protect myself and as a means to seek to provide a necessary element of distraction to allow others the opportunity to escape. Fourthly, I would seek to find help as soon as possible by contacting the authorities. This fourth point has waited until later in this analysis due to the fact that time is of the essence with regards to seeking to rapidly evacuate the premises and ensure that the other steps which have herein been detailed are adequately followed prior to taking the time to open the phone, dial the authorities, and explain the situation as it is unfolding. Although the level of discussion that has been described is speculative, there is truly no way to describe to anyone how I would ultimately a ct in a situation such as the one described; regardless of the

Assignment2 Research Paper Example | Topics and Well Written Essays - 1500 words

Assignment2 - Research Paper Example Most importantly, there are popular people in the world who get a lot of attention thus the whole society as a whole seeks to follow and fodder for their information. The term media in the simplest and most basic sense refers to the avenue where information is shared or passed from one source to the recipient. In the recent past, there have been changes, modifications, advancements and improvements in the fields and sectors of technology therefore the definition of media has changed. Accordingly, there has been the concept and notion of social media which encompasses avenues such as you tube, Facebook, Twitter, Instagram where information is passed and shared uncensored and an unedited. This paper will thus look at the extent to which the media inclusive of the social media could influence the behavior of the teenage girls (Martin & Bush, 2000). In principle, this article and text will discuss and look into the exact ways in which the media affects behaviors of girls. In form of a hypothesis, this paper will explore how the media affects dress codes and fashion patterns or inclinations of teenage girls. Fashion also encompasses and covers the way in which a celebrity or a popular person poses to represent themselves and the background identity as a whole. A practical case and instance is the way Britney Spears did pose in magazines in 1999, the implication it had on the teen girls and what that instance or posing could influence and impact the behavior of girls. Tentatively, this research paper will be exploratory in nature, stemming from the fact that it does not have any static hypothesis which would be sought to be confirmed or disapproved. In principle, the research paper will be free-flowing and self-guiding, therefore the conclusion that would be made would be informed by facts and figures obtained in the course of the research paper. Given the nature of this research and study it would be proper to obtain first-hand information from the

Exam 1 Assignment Example | Topics and Well Written Essays - 1000 words

Exam 1 - Assignment Example There are 44 questions, be sure to answer them all. MULTIPLE CHOICE (1 pt each) 1. Which of the following includes all the others? A) atom B) cell C) organism D) ecosystem 2. In science, a hypothesis must be A) testable B) a known fact C) able to be proven absolutely true D) derived from a theory 3. A chlorine atom has 17 protons, 18 neutrons, and 17 electrons. The atomic number of chlorine is A) 8 B) 17 C) 35 D) 52 4. If you place the probe of a pH meter in an unknown liquid and it reads pH 1, the liquid is A) an acid B) neutral C) a base 5. This polysaccharide forms fibers that are a major component of plant cell walls: A) glucose B) cellulose C) starch D) glycogen 6. Glycerol is a building block of A) starch B) enzymes C) vegetable oil D) DNA 7. Which of these types of molecules contain nitrogen? A) proteins B) phospholipids C) polysaccharides 8. Prokaryotic cells, with no nucleus or membranous organelles, are found in A) animals B) bacteria C) fungi D) plants 9. If the concentrat ion of glucose in the water outside of a cell is lower than the concentration inside, A) water will tend to leave the cell by osmosis B) water will tend to enter the cell by osmosis C) glucose will tend to leave the cell by osmosis D) glucose will tend to enter the cell by osmosis 10. ... Which of these does not have to be present for photosynthesis to occur? A) water B) carbon dioxide C) glucose D) chlorophyll 13. The oxygen in our atmosphere is produced by A) photosynthesis B) cellular respiration C) greenhouse effect D) volcanic eruptions 14. Yeast cells break down glucose anaerobically into A) ethanol and CO2 B) lactic acid and CO2 C) lactic acid and H2O D) ethanol and H2O 15. The net energy gain from complete cellular respiration is A) 2 ATP B) 4 ATP C) 8 ATP D) 36-38 ATP 16. Carbon dioxide is released in A) the light-dependent phase of photosynthesis B) the Calvin cycle C) glycolysis D) the Krebs cycle 17. Which of the following is not a characteristic of enzymes? A) they are proteins B) they speed up the rate of chemical reactions C) they act on specific substances called substrates D) they are used up in each reaction, thus need to be produced in large quantities 18. Each new cell produced by this process will have an identical copy of all chromosomes and gene s possessed by the parent cell: A) meiosis B) mitosis 19. During the first division of meiosis, A) homologous chromosomes separate B) chromosomes separate at the centromere C) chromosomes become triploid 20. The number of chromosomes in a human sperm cell is A) 4 B) 8 C) 23 D) 46 21. Exchange of genes between maternal and paternal chromosomes before the first division of meiosis is caused by A) crossing over B) X-linkage C) cytokinesis D) replication 22. If a heterozygous male mates with an albino female, what percentage of albino children would be expected? A) 0% B) 25% C) 50% D) 75% E) 100% 23. Queen Victoria's son Leopold had hemophilia, which is caused by a sex-linked recessive gene (Xh). Leopold lived to be 31 years old and fathered a normal daughter. What is the

Individual Roles in Groups | Reflection

Individual Roles in Groups | Reflection Explore and discuss individual roles and function within groups using a reflective model This essay will explore, discuss and evaluate individual roles, processes of group formation and function within groups. It will look at reflection and the importance of reflection in paramedic practice. It will reflect on my own experiences during the role I played while participating in a group presentation. It will do this by using Gibbs reflective cycle (1988) as a model (Appendix A). Reid (1993) states that within healthcare, reflection has been defined as the active process of reviewing, analysing and evaluating experiences, drawing upon theoretical concepts or previous learning, in order to inform future actions (Cited in White et al 2005). In simplistic terms this means to learn from previous experiences and to implement effective positive changes to practice. By doing this the individual will give the patient a better experience. As a result of reflecting upon practice, this will encourage pro active learning and develop autonomous professional and clinical practice (White et al 2005). Gibbs (1988:09) believes that if an experience is not reflected upon the learning potential will be lost forever. The University of Leeds devised an experiment which supports this statement, Assessment and Learning in Practice Settings (Cited in White et al 2005) (Appendix B). The results of this experiment suggest that reflective practice is a vital skill for future paramedics (White et al 2005). It will enhance personal and professional development, therefore helping you to be constantly learning to excel in your chosen profession. Adair (1989, cited in Rogerson et al 1996) stated that a group is a gathering of more than two people that are identifiable by a type or name. The group should have the same goals and will need to help each other in order to achieve the reasons that they initially joined. He suggests that there are stages in the formation of groups known as group dynamics. This explains a groups behaviour and progression through four sequential stages; forming, storming, norming and performing (Adair 1989, cited in Rogerson et al 1996) (Appendix C). By way of practical example I will reflect on a group presentation in which I recently partook. When the group first met we discussed the assignment. At this stage we were in Adairs forming stage. We discussed ideas for the presentation and came up with times we could all meet. Nothing was actually confirmed we all just aired our opinions, no real progression was made during this stage. I do not believe we went through the storming stage as we did not argue over the logistics of the presentation. However we did utilise a democratic decision making process to avoid conflict. Throughout there was not a particular person who took control, we all got involved as much as each other. If two or more ideas were put forward regarding the same thing, a majorities vote always won. At each meeting we progressed and all had similar ideas to how we wanted the presentation to conclude. We were now at Adairs norming stage. At this point we were all in agreement and communicating effectively, we had group unity. Rogerson et al (1996:78) says that for a group to succeed a essential component of effective communication is necessary. We were in the Performing stage when we were ready to deliver the presentation on the allocated day. I felt a little more practice would have made everyone feel more comfortable in their roles and perform better. Benne and Sheats (1948) identified 26 different group roles from their article titled Functional Roles of Group Members (Appendix D). They categorised the group roles into three categories; task roles, personal and social roles and dysfunctional or individualistic roles. During the forming stage I believe I was the initiator/contributor as I suggested several ways of perusing our goal and in the norming stage I was the orienter. This is because during this stage I pointed out what else was needed to be included that I felt was missing and at each meeting I suggested what we should complete before leaving. The group all had the same goal which helped us to progress quickly and in addition to this we did not have any dysfunctional roles being played in our group, e.g. a blocker this type of role disagrees with everything being said and inhibits progression. We all wanted to ensure the task was done. Examples of other members roles are; an encourager who praised the group and kept us m otivated and we also had elaborator this role builds on other members ideas. This agreement and support was probably due to a shared common goal. During the formation of groups Hartley and Illingworth (2006) implied that social and emotional effects are often overlooked on individual group members. This was evident when we used the majority rules rule. The thoughts and feelings of the individual/s that were not in the majority whilst voting were not considered. This could cause them to feel inadequate and not worthy of further input. Fujishin (2007:80) suggests that while decisions are being made fast and therefore saving the group time. This does not permit commitment from the entire group as they do not fully agree with the route being taken. He suggests that for entire group commitment an alternative method of deciding would be required. I would be sure to fully listen to other peoples ideas if I was put in the same predicament, rather than immediately have a vote. During one of the set meetings there was one student who could not attend, we continued with the meeting without them. This was unfair to the student as we progressed without his thoughts or feelings. But unfair to the group as the deadline wasn’t extended due to him being unable to attend and this was a setback to the group as a whole. The next meeting took a long time to get going as we had to take the time to explain what he had missed. Continuing without the student lost us time when a the meeting could have been rearranged to a time when everyone could have attended. Listening to individuals ideas and recognising their feelings requires the ability to act upon ones own emotional intelligence. Emotional intelligence is to be aware of and in control of the management of your emotions, reactions, goals, intentions, and those of other people and their feelings (Gloeman 1995, cited in Chapman 2012). Cartney and Rouse (2006, cited in Chapman 2012) supported the benefits of taking into consideration the emotional impact on others. I have learnt that reflection using Gibbs (1988) model and effective communication plays a crucial part of academic learning, day to day and self learning and progression in practice. Bolton (2001, cited in Blabber 2008:62) believes thoughts and feeling are brought out of individuals by writing, that otherwise would not surface. It also facilitates a connection between the classroom and practice that would not otherwise be established (Rolfe et al, cited in Blabber 2008:62). This reflection has taught me to ensure that each individual is heard, encouraged and not left out as this will aid progression to the task in hand. As we can see reflection is important during paramedic practice. This widens our knowledge and encourages better practice (White et al 2005). This can help the paramedic to treat each individual patient with their own specific needs. Emotional intelligence which is realising the effects of your own interpersonal skills and attitude also plays a huge part of giving the right patient in the right place the right treatment at the right time. If this was not used in the correct way you could intentionally or unintentionally hurt someones feelings, resulting in ineffective communication and bad practice. This experience has taught me that camaraderie appears to be a vital component of becoming a successful paramedic. Other theorists also said Reflective practice is deemed an essential skill for future practitioners to learn and perform and pr ovides the framework for transferring and applying learning into different practical scenarios (Fearly, 1999; Duffy, 2009) Changes in Fashion and Technology: Impact of the Internet Changes in Fashion and Technology: Impact of the Internet Urban Fashion Urban cities like New York, Paris, London or Tokyo have too much to offer, there are lots of entertaining varieties of services, while its all depends on the product we buy from the electronic portals (Internet buying). The more opportunities we can have in the big cities or urban areas then in rural area. Its not always about the living as orthodox but sometimes its about the passion and the search of creativity for the destruction of hunger or we can say like to mark the business growth upwards we have to stay in the cosmopolites cities. There is a big connection in between the fashion and the mass populated areas, as the fashion business related peoples are keen to know the taste to develop the products according to the need of the customers as in mass places we can find different kind of peoples with different aesthetic senses. We have e-commerce and Internet which we can relate to the theory of Long tail in terms of culture and idea space now days. By focusing on the individual products could have given us the beneficial approach but also it would leads to the drawback of saturation in the market or in terms of products. Mass customization, through Internet selling would further facilitate the idea and capital earning. In living in the mass populated cities will also give the ecumenical advantages as well as the mass variety to select the suitable strategy for the establishment of the business. Designers and fashion houses would get more prospers in these kind of area that they can offer more as well as they could have more customers to buy the products also cities have usually wide distribution demand becomes concentrated. Cities are the natural house for the shopping malls, super marts, pubs and cinema houses; its easy to find the peoples with idiosyncratic taste from 9 million peoples in the city. (http://en.wikipedia.org, 2005) From retail space to Online The role of shelves in a retail apparel store is same as the normal groceries store or book store. The more the product is visible, the more the product sells. (Anderson, C, 2006) So there is always a great demand for the golden shelves that are just below the eye level. Managing the shelves space is becoming more and more crucial to the retailers. The same is for the fashion retailing also. In fact the shelves have got a more importance in a case of a multi-brand retailer. In most of the cases the ‘new arrivals are given the preference and are placed in the shelves which are most visible to the customers. The retail space has to be managed in a way that the sales generated should be more than the rent of the store itself and in addition it has to make profits. Well this problem can be reduced by removing the activity of buying goods from a store and replacing it by the means of online shopping. By introduction of online shopping, the storage of the products may be moved from a central location to a warehouse outside the cities, where the rent is very minimal. Also according to the latest estimates, by 2020 the retail sales in USA will be a mere 15% of the total sales. This doesnt mean that the retail store sales will be affected until there is a huge shift of the wholesale to the online shopping. (Markham, J. E, 1998) The latest trend is that the retailers are focusing on having very minimal number of products in their stores and maintain a large amount in the central warehouses. The Point of Sales (POS) are tracked daily and based on this, the products are replenished accordingly. The importance of small and large retail stores The hyper marketing store and large retailer shop in recent year shows sign of decline in department store but the number of small size boutique or retailer shops which benefit from accurate interior decoration and adhering the gratification rule of marketing , seems to be increase due to several reason unless location prices and financial issue.( Matthew M. Chew August 2008) As it mention in Small Fashion Boutiques and Retail Change in China wrote by Matthew M. Chew from Department of Sociology, Hong Kong Baptist University Kowloon Tong, Kowloon, HKSAR, China (Project Code: 4450082) †the two advantage of small retail store compare with large retail store categorize in relational marketing and store branding†, although the smaller retail shop cannot pay for expensive advertisement like cooperating with mass media or make use of innovative marketing value and tools due to their low space size and lack of capital but As it mention in Small Fashion Boutiques and Retail Change in China wrote by Matthew M. Chew from Department of Sociology, Hong Kong Baptist University Kowloon Tong, Kowloon, HKSAR, China (Project Code: 4450082) †their small size put them in position to develops relational marketing with their customer much more thoroughly and deeply than lager retail shop†. Relational marketing This concept directly affected the customer retention and maintain reciprocal relation between customer and retailers which strengthening the customer base, obviously the small size retail shop run by one or at least two person which increase the chance for direct communications and relationship with clients which increase the level of trust and service, also the customer loyalty might be increase if the retail shop owner benefit from accurate communication skill or using marketing tricks like put some present or attractive personal massage in cloths or accessory package also building reputation can be based on providing qualified product with affordable prices or offering some exclusive or unique fashion brand or upcoming designing, As it mention in Small Fashion Boutiques and Retail Change in China wrote by Matthew M. Chew from Department of Sociology, Hong Kong Baptist University Kowloon Tong, Kowloon, HKSAR, China (Project Code: 4450082) â€Å"they selling selves not merely the apparel items †. Store branding Indeed the small retail shop try to develop the store as a brand this can happened in two way which are, establishing store brand due to characteristic, opinion and life style of the owner of small retailer shop or through the suitable interior design of physical store or web shops hence the personal afford of the owner essential for building reputation so the owner should has tidy and attractive apparent in any condition and dressed like a fashion guide, the owner should has specific and unique life style with proper communication skill. (Matthew M. Chew August 2008) The store location and the degree of fashion ability combine with suitable decoration are important for small retail store to compete with other retail store in department store most of the small retailer shop are based in the middle flour of department store construction which is provide more comfortable, non invasive environment that customer can focus deeply on designer clothes or accessorise in small retailer shop, the recent matter cause progressing the level of service and reach more potential customer. The small retail shop free to mix and use different brands and they are very flexible on the other hand they cannot benefit from in- store events to increasing the amount of shopping value and overcome competitors but they are able to use proper decoration like exaggerating perspective, 3D dimensional spaces, spot light, light and fade colour even the location of high fashion or popular designer clothes is seems to be important usually they should place in the middle slab of the shelf. (Matthew M. Chew August 2008) Fashion in Department Stores For not long ago people tended to go to fashion stand-alone stores whenever they were looking for fashion articles. The stand-alone stores consisted of one main fashion brand and the articles offered by it. These articles could be anything from basic-collections to the newest collection of the season. Customers preferred to visit these stores and shop whatever they desired from the brand in that specific store. As a result of having a stand-alone store the range of articles within the store was of course wider and also the amount of garments within each collection was greater. And additional opportunity is the fact that stand-alone stores can easier create a whole experience around the brand that is offered by designing the store in that specific way that is appropriate for the that specific brand. (Geo Journal 45:255-264, 1998) The concept of department stores could be seen as one of societies most innovative and influential establishments since it also changed the business world particularly from the mid 1800s to the 1930s. Not only did the concept give birth to the consumption culture but also to the modern shopping center, where everything could be found beneath one roof. Hence, today, as a result of the growing market of fashion and the also the increased knowledge of customers, fashion brands and their products are being demanded in greater markets. Customers are enjoying their opportunity of having the ability to choose from several different brands and products and also to compare. Customers like the bigger format of department hence the retail formats are no longer being seen upon as the best safe option for the retailers. These demands have elaborated in more fashion brands locating themselves within different kind of department stores. (http://www.articlesbase.com, 2009) Luxury fashion brands such as Burberry, Gucci, and Armani have their shop-in-shop stores in Illum department store in Copenhagen. (http://www.illum.eu/, 2009) Moreover, Harrods which can be considered as one of the worlds biggest department stores with over 330 departments of shopping spaces, actually have their motto saying â€Å"Omnia Omnibus Ubique† which basically means â€Å"All Things for All People, Everywhere†. Harrods have a much wider range of brands such as Christian Dior, Oscar De La Renta and Versace, however they also have less luxurious brands such as Adidas and Acne. (http://www.articlesbase.com, 2009) With the establishment of department stores, companies are able to enter a larger market and make their brand more approachable to customers. However, usually in a department store, each and every brand is dealing with a smaller location to display their products in and these locations are called shop-in-shop stores. However, this means that brands have not enough space for all their products, as in their own stand-alone stores. Usually, in this case, the brand would have to choose the specific garments it would prefer to show and sell within that restricted space. The most usual way of selecting these items is to have the most significant items for that specific brand and additionally some basic along with the latest seasons and more procured items. The result would be that each and every brand within the department store would have their restricted space offering only some items from their collections. (Fashion Retail Marketing lecture 2009-11-13) Hence, one can conclude that department stores can look more attractive and also give the customer the awesome feeling that he/she have a lot to choose from, however, by looking deeply into these shop-in-shop stores, one realizes that the variety being offered is not enough, since some articles would always be missing. Online Visual Merchandising Since apparel is a product that needs to be experienced, the visual merchandising of it in online stores is more critical than for other kind of websites offering other products. Hence it is off great importance that the result of visual merchandising in online stores really creates the environment needed for visitors in order for them to obtain that desired experience. It is also important to offer more visual product information and various product presentations, in, for example, colors, styles, and sizes etc. (Ha, Y., Kwon, W.S, Lennon, S. 2006) One of the main problems with physical goods is the categorization of the products within a store. This topic is very important for department stores and their shop-in-shop stores, since the restricted space makes it more crucial to create a successful visual merchandising so that customers can find what they want easily in the logically and visually created environment. (Ha, Y., Kwon, W.S, Lennon, S. 2006) However, with the development of online retailing the concept of categorizing the products has been taken to another level since within online retailing, companies are more independent on their choice of categorizing and visualizing their products. Hence, by giving the customer ability to search for the product online one will actually make it easier for them to find what they are looking for. Additionally the overall customer service can be increased by providing your products online. (www.businessweek.com, 2009) Although many luxury fashion brands are still very cautious about selling their products online, a great amount of them have understood the importance of online retailing and does actually offer their products on pages such as the online fashion boutique Net-a-porter.com. On their website, the customers are both given various ability to look for products in categories such as designers, clothing, shoes, bags, accessories etc and within these categories one find more specific sub-categories, such as for designers one find the names of different designers, for clothing one find dresses, skirts, jackets etc, and these goes on for all categories. However, another way of searching for their products is through the â€Å"search-box† where they can write specifically what they are searching for and easily see if the online store has the product are not. (http://uberkid.typepad.com, 2007) E commerce and its advantage and disadvantage Nowadays most of the fashion brands and company recognised the e-commerce as strong marketing tools due to daily consumption of Internet, available progressive technology, customer awareness and precious time using so it is natural reaction if e -commerce increase among most of the retailer company. (NVision, 2008) These days large number of customer tend to shopping from the web instead of wasting their time in crowded uncomfortable environment such as physical retail store there are different advantages and disadvantages for online shopping, the availability and save time can be recognize as a advantage so the customers can shop whatever they need without facing time limitation, it is easier for customer to find certain style in web shop than the physical store only by searching via essential information such size, colour, type, also client can compare the price of the goods and heat the best choice. (Laudon Traver, 2008, p. 346) The disadvantages of the online shop are the customer cannot touch or test clothes or accessories and that would be a serious problem which increase the product returns, also delivery time is critical for most customer and long delivery time will decrease the level of service and ruin the brand image, the other important thing is, the security of web site should be consider to avoid online rubbing of credit cards information by hackers (Laudon Traver, 2008, pp. 345-355). the retailer can reach more customers via online shopping and there will be no need for rent or buy expensive location for establishing physical store, it is easier for retailer to change the characteristic of their goods like prices and answer to their customers real needs but during online shopping there is no chance to gain benefit from effective communication skills and the web shopper should gain their customer trust in another way than direct relationship. (Laudon Traver, 2008, pp.556-557) CRM-system Online shop can earn profit by using customer relationship management system, this system help the online shop to collect their customer personal information and also their outcome like their opinion and suggestion with correct using of such system it is possible to record the interaction between customer and online shop and company can find out various needs of different customers so the customer loyalty increase dramatically and it have influence on level of service and customer retention, so the company can customize various marketing strategy to cover enlarge demand of e-customer the information collected by phone or email. (Xu Walton 2005) Internet- customer location The retail geography is very important in any business whether it is a groceries store, book store, fashion outlet etc. There are many factors that are taken into consideration while selecting a location of a store. Factors such as the customer concentration, customer behavior, local conditions, transportation network etc are very critical in the selection of a location. Stores that do not consider these factors will not be able to attract the customers. Also the maintenance costs of such store will also be more that the revenues generated by it. Even the physical distribution costs will also be high for such stores which are inaccessible due to very bad transport network/infrastructure. Despite of doing a lot of research for selecting the right location for a store, not all stores are successful. One of the main reasons for this is that the customers are usually distributed over a large geographical location. (Anderson, C, 2006) For such scenarios the online shopping is proving out to be a good alternative. But again the consumer behavior is critical due to the fact that most of the consumers still tend to have a physical touch of the products they buy. Well this can be applied to the fashion industry also. Most of the fashion retailers tend to open their stores mainly in bigger cities that too in prime locations. The bigger cities have higher population density and there is a high tendency of doing a good business. The best examples are location such as 5th Avenue, New York, West End, London etc which are now termed as the shopping districts. (http://en.wikipedia.org) Most of the bigger fashions brands want to open their store in these locations and are ready to pay astronomical prices are rent. One of the main advantages of these locations is that they are easily accessible. Another factor that influences the store location is the consumer behavior. One cannot expect a luxury brand like Gucci or Chanel to do good business at a location which is filled with consumers who do not have a high purchasing power. Also the local conditions such as climate, geography etc also plays a major role. (Markham, J. E, 1998) A skiwear store can do a very good business at locations where there are mountains and snow. The same way the surf wear brand can sell it products only at locations which are nearer to beaches. So Location is very crucial. Over the last decade the best solutions that have evolved for the problems related to customer geography is the Internet. Internet allows the feature called the Online shopping which enables the customers to buy the products from their homes is becoming more and more popular. Online shopping is advantageous for both the retailers and the customers. The main advantage for the retailers is that it allows them to reach the low density customers with the same efficiency as the high density ones. (Anderson, C, 2006) This is the reason that most of the traditional retailers are spending a lot of money in building up their own web shopping applications (For eg: HM, Gina Tricot etc). Some of the success stories are www.nelly.se and www.ellos.se. Though the online shopping is a best way to reach the low density and remote customers, it should be well supported by a good distribution system. Networking in the fashion world Before this television, computers and these virtual medias there were radios, those were knows as the king for the entertainment, there were only few broadcasting stations. But in twentieth century gradually this place was taken by the television and can see this trend fully involved with the human life. TV was the trend driven media before the computer and Internet, the plate form from which we can connect to the whole world is Internet. The relation of the capital earning is connected to the key factor i.e. the more networking you have in terms of marketing the more you earn. For the fashion brands and for the sake of business its more important to have the networking among the social circle of fashion peoples. Aside from using scarce distribution resources promptly or efficiently by aggregating and emphasizing on the customer, now days the strongest Medias are advertising and virtual learning via Internet or television. Once the advertisements or commercial of your product hits th en you can earn money and can touch the blockbusters level. But do you know how to make the hit; there are 2 to achieve this level. Deep search unpredictable genius. Use lowest denominators formula to create optimized product to sell. The principle related as general for the entertainment for last 10 decades was economics and distribution were scarce and the consumer attention was distracted. Its the fact that not everyone can make the movie, broadcast and makes it on air. Those have done it was the opportunity for them to capture the market. As its the sellers market and they can also to afford to waste attention. (www.bbb.org, 2008) The future of Internet in fashion The customer behavior has been changing over time and this also made the retailer to make changes accordingly. The change in the shopping experiences has moved from the traditional bazaars to independent stores/boutiques, and then came the franchisees, then the multi brand retail stores etc. This trend doesnt seem to stops anywhere. But over the last couple of decades the evolution of Internet is changing the whole scenario. (http://en.wikipedia.org) The use of Internet has been expanding at an enormous rate, especially in the last decade. (www.Internetworldstats.com) Of the time the people sit in front of the computer, 80% of the time they spend it on the Internet. The Internet has become a part of lifestyle today. The use of Internet has enables people to do most of their works online sitting in front of the computer. The shopping experience has also been influenced by the Internet mania. The customer prefers to buy the products from the Internet and as per latest estimates the cus tomers in UK spend around 17 pence in every pound they shop. (http://news.bbc.co.uk) This trend is growing and it seems that the future retailing will be dominated by the Internet. The rise of Internet has also caused a lot of dangers. The main disadvantage is that the customers cannot really check the product physically. Especially with the fashion industry, where purchased products look very attractive on retailers webpage but when finally when the products arrives he may not be satisfied with the fabric, fitting etc. So this will make the customers to return the products to the retailer. This situation is a very big problem as most the customers dont know how to return back a product to the retailers, who will be paying the postal charges etc. (http://www.oft.gov.uk) Another disadvantage of Internet shopping is the security and privacy risks. The critical information of the customers such as the name, address, credit card details etc are stored online and if no required security is maintained, there is a high probability of this data ending up in wrong hands. Another problem with the online shopping is the inability to adhere to strict delivery times. Someti mes the products do not arrive at the time the customer wishes and this will create a lot of problems. Improper distribution system is the main cause for these kinds of products. (Anderson, C, 2006) Some other problems are the hidden costs which are advertised as free but carry more price than the original. This usually happens when the retailer advertises products for free but charges high shipping costs than normal. (http://www.oft.gov.uk)

Why Our President Has To Leave :: essays research papers

This is an essay about why I think Bill Clinton should resign, and also why I think he won't. You see, Bill Clinton is a man without morals. Well, actually that's not quite true. He does appear to have morals; he just sacrifices them to expediency whenever the opportunity arises. If absolute selflessness with respect to one's values were a virtue, Bill Clinton would be the most virtuous president the United States has ever had. Fortunately, most people do not hold this view of morality or ethics (I hope!). The majority of people still seem to hold integrity in some esteem. If they do, and I am right about Clinton's complete lack of principles, then hopefully this short essay will find a few receptive minds. Firstly, let me review the evidence for my contention that Clinton should resign or be impeached. Now, to like-minded people, that must sound like an almost interminable proposition. Don't worry though, I will limit it to just the "bare" facts of the Lewinsky affair. 1. Bill Clinton had sex with an intern in the White House. 2. He lied under oath in a deposition to a grand jury. 3. He lied to the American people. 4. He attempted to cover up his illicit affair, and obstruct an investigation. Do these offences merit his impeachment or resignation? The primary defense of his actions has been the argument that what he does in his private life does not affect the fulfillment of his public duties as President. It's not hard to knock this contention on the head. Clinton is a public employee. Consider what would happen to any employee caught having sex with one of his staff in his office, during work hours. You'd get very short odds on whether he'd last the rest of the day. Being President of the United States of America is probably the most important job in the world. It carries enormous power, influence and prestige. It consequently necessitates a commensurate level of responsibility and gravity. And here we have a President conducting a year long affair with an intern less than half his age. Yes, the President is entitled to have a private life. But, no President is entitled to put his private life ahead of the interests of the nation. And Bill Clinton was clearly more interested in attending to Miss Lewinsky than to the affairs of the nation. So, whether or not you think Presidents are elected to show moral as well as political leadership, one cannot escape the fact that Clinton subjugated his public responsibilities to his private interests.

The Financial System of Bangladesh

Overview of Financial system of Bangladesh The financial system of Bangladesh is comprised of three broad fragmented sectors: 1. Formal Sector, 2. Semi-Formal Sector, 3. Informal Sector. The sectors have been categorized in accordance with their degree of regulation. The formal sector includes all regulated institutions like Banks, Non-Bank Financial Institutions (FIs), Insurance Companies, Capital Market Intermediaries like Brokerage Houses, Merchant Banks etc. ; Micro Finance Institutions (MFIs).The semi formal sector includes those institutions which are regulated otherwise but do not fall under the jurisdiction of Central Bank, Insurance Authority, Securities and Exchange Commission or any other enacted financial regulator. This sector is mainly represented by Specialized Financial Institutions like House Building Finance Corporation (HBFC), Palli Karma Sahayak Foundation (PKSF), Samabay Bank, Grameen Bank etc. , Non Governmental Organizations (NGOs and discrete government progra ms. About financial MarketThe financial market in Bangladesh is mainly of following types: 1. Money Market: The primary money market is comprised of banks, FIs and primary dealers as intermediaries and savings & lending instruments, treasury bills as instruments. There are currently 15 primary dealers (12 banks and 3 FIs) in Bangladesh. The only active secondary market is overnight call money market which is participated by the scheduled banks and FIs. The money market in Bangladesh is regulated by Bangladesh Bank (BB), the Central Bank of Bangladesh. . Capital market: The primary segment of capital market is operated through private and public offering of equity and bond instruments. The secondary segment of capital market is institutionalized by two (02) stock exchanges-Dhaka Stock Exchange and Chittagong Stock Exchange. The instruments in these exchanges are equity securities (shares), debentures, corporate bonds and treasury bonds. The capital market in Bangladesh is governed by Securities and Commission (SEC). 3.Foreign Exchange Market: Towards liberalization of foreign exchange transactions, a number of measures were adopted since 1990s. Bangladeshi currency, the taka, was declared convertible on current account transactions (as on 24 March 1994), in terms of Article VIII of IMF Article of Agreement (1994). As Taka is not convertible in capital account, resident owned capital is not freely transferable abroad. Repatriation of profits or disinvestment proceeds on non-resident FDI and portfolio investment inflows are permitted freely.Direct investments of non-residents in the industrial sector and portfolio investments of non-residents through stock exchanges are repatriable abroad, as also are capital gains and profits/dividends thereon. Investment abroad of resident-owned capital is subject to prior Bangladesh Bank approval, which is allowed only sparingly. Bangladesh adopted Floating Exchange Rate regime since 31 May 2003. Under the regime, BB does not interfere in the determination of exchange rate, but operates the monetary policy prudently for minimizing extreme swings in exchange rate to avoid adverse repercussion on the domestic economy.The exchange rate is being determined in the market on the basis of market demand and supply forces of the respective currencies. In the forex market banks are free to buy and sale foreign currency in the spot and also in the forward markets. However, to avoid any unusual volatility in the exchange rate, Bangladesh Bank, the regulator of foreign exchange market remains vigilant over the developments in the foreign exchange market and intervenes by buying and selling foreign currencies whenever it deems necessary to maintain stability in the foreign exchange market.Regulators of the Financial System Central Bank Bangladesh Bank acts as the Central Bank of Bangladesh which was established on December 16, 1972 through the enactment of Bangladesh Bank Order 1972- President’s Order No. 127 o f 1972 (Amended in 2003). The general superintendence and direction of the affairs and business of BB have been entrusted to a 9 members' Board of Directors which is headed by the Governor who is the Chief Executive Officer of this institution as well. BB has 40 departments and 9 branch offices.In Strategic Plan (2010-2014), the vision of BB has been stated as, â€Å"To develop continually as a forward looking central bank with competent and committed professionals of high ethical standards, conducting monetary management and financial sector supervision to maintain price stability and financial system robustness, supporting rapid broad based inclusive economic growth, employment generation and poverty eradication in Bangladesh†. The main functions of BB are (Section 7A of BB Order, 1972) – 1. to formulate and implement monetary policy; 2. o formulate and implement intervention policies in the foreign exchange market; 3. to give advice to the Government on the interact ion of monetary policy with fiscal and exchange rate policy, on the impact of various policy measures on the economy and to propose legislative measures it considers necessary or appropriate to attain its objectives and perform its functions; 4. to hold and manage the official foreign reserves of Bangladesh; 5. to promote, regulate and ensure a secure and efficient payment system, including the issue of bank notes; 6. o regulate and supervise banking companies and financial institutions. Core Policies of Central Bank Monetary policy The main objectives of monetary policy of Bangladesh Bank are: †¢Price stability both internal & external †¢Sustainable growth & development †¢High employment †¢Economic and efficient use of resources †¢Stability of financial & payment system Bangladesh Bank declares the monetary policy by issuing Monetary Policy Statement (MPS) twice (January and July) in a year.The tools and instruments for implementation of monetary policy in Bangladesh are Bank Rate, Open Market Operations (OMO), Repurchase agreements (Repo) & Reverse Repo, Statutory Reserve Requirements (SLR & CRR). Reserve Management Strategy Bangladesh Bank maintains the foreign exchange reserve of the country in different currencies to minimize the risk emerging from widespread fluctuation in exchange rate of major currencies and very irregular movement in interest rates in the global money market.BB has established Nostro account arrangements with different Central Banks. Funds accumulated in these accounts are invested in Treasury bills, repos and other government papers in the respective currencies. It also makes investment in the form of short term deposits with different high rated and reputed commercial banks and purchase of high rated sovereign/supranational/corporate bonds. A separate department of BB performs the operational functions regarding investment which is guided by investment policy set by the BB's Investment Committee headed by a Deputy Governor.The underlying principle of the investment policy is to ensure the optimum return on investment with minimum market risk. Interest Rate Policy Under the Financial sector reform program, a flexible interest policy was formulated. According to that, banks are free to charge/fix their deposit (Bank /Financial Institutes) and Lending (Bank /Financial Institutes) rates other than Export Credit. At present, except Pre-shipment export credit and agricultural lending, there is no interest rate cap on lending for banks.Yet, banks can differentiate interest rate up to 3% considering comparative risk elements involved among borrowers in same lending category. With progressive deregulation of interest rates, banks have been advised to announce the mid-rate of the limit (if any) for different sectors and the banks may change interest 1. 5% more or less than the announced mid-rate on the basis of the comparative credit risk. Banks upload their deposit and lending interest rate in their respective website. Capital Adequacy for Banks and FIsWith a view to strengthening the capital base of banks & FIs, Basel-II Accord has been introduced in both of these sectors. For banks, full implementation of Basel-II was started in January 01, 2010 (Guidelines on Risk Based Capital Adequacy for banks). Now, scheduled banks in Bangladesh are required to maintain Tk. 4 billion or 10% of Total Risk Weighted Assets as capital, whichever is higher. For FIs, full implementation of Basel-II has been started in January 01, 2012 (Prudential Guidelines on Capital Adequacy and Market Discipline (CAMD) for Financial Institutions).Now, FIs in Bangladesh are required to maintain Tk. 1 billion or 10% of Total Risk Weighted Assets as capital, whichever is higher. Deposit Insurance The deposit insurance scheme (DIS) was introduced in Bangladesh in August 1984 to act as a safety net for the depositors. All the scheduled banks Bangladesh are the member of this scheme Bank Deposit Insurance A ct 2000. The purpose of DIS is to help to increase market discipline, reduce moral hazard in the financial sector and provide safety nets at the minimum cost to the public in the event of bank failure.A Deposit Insurance Trust Fund (DITF) has also been created for providing limited protection (not exceeding Taka 0. 01 million) to a small depositor in case of winding up of any bank. The Board of Directors of BB is the Trustee Board for the DITF. BB has adopted a system of risk based deposit insurance premium rates applicable for all scheduled banks effective from January – June 2007. According to new instruction regarding premium rates, problem banks are required to pay 0. 09 percent and private banks other than the problem banks and state owned commercial banks are required to pay 0. 7 percent where the percent coverage of the deposits is taka one hundred thousand per depositor per bank. With this end in view, BB has already advised the banks for bringing DIS into the notice of the public through displaying the same in their display board. Insurance Authority Insurance Development and Regulatory Authority (IDRA) was instituted on January 26, 2011 as the regulator of insurance industry being empowered by Insurance Development and Regulatory Act, 2010 by replacing its predecessor, Chief Controller of Insurance.This institution is operated under Ministry of Finance and a 4 member executive body headed by Chairman is responsible for its general supervision and direction of business. IDRA has been established to make the insurance industry as the premier financial service provider in the country by structuring on an efficient corporate environment, by securing embryonic aspiration of society and by penetrating deep into all segments for high economic growth.The mission of IDRA is to protect the interest of the policy holders and other stakeholders under insurance policy, supervise and regulate the insurance industry effectively, ensure orderly and systematic growth of the insurance industry and for matters connected therewith or incidental thereto. Regulator of Capital Market Intermediaries Securities and Exchange Commission (SEC) performs the functions to regulate the capital market intermediaries and issuance of capital and financial instruments by public limited companies.It was established on June 8, 1993 under the Securities and Exchange Commission Act, 1993. A 5 member commission headed by a Chairman has the overall responsibility to administer securities legislation and the Commission is attached to the Ministry of Finance. The mission of SEC is to protect the interests of securities investors, to develop and maintain fair, transparent and efficient securities markets and to ensure proper issuance of securities and compliance with securities laws. The main functions of SEC are: †¢Regulating the business of the Stock Exchanges or any other securities market. Registering and regulating the business of stock-brokers, sub-broke rs, share transfer agents, merchant bankers and managers of issues, trustee of trust deeds, registrar of an issue, underwriters, portfolio managers, investment advisers and other intermediaries in the securities market. †¢Registering, monitoring and regulating of collective investment scheme including all forms of mutual funds. †¢Monitoring and regulating all authorized self regulatory organizations in the securities market. †¢Prohibiting fraudulent and unfair trade practices in any securities market. Promoting investors’ education and providing training for intermediaries of the securities market. †¢Prohibiting insider trading in securities. †¢Regulating the substantial acquisition of shares and take-over of companies. †¢Undertaking investigation and inspection, inquiries and audit of any issuer or dealer of securities, the Stock Exchanges and intermediaries and any self regulatory organization in the securities market. †¢Conducting researc h and publishing information. Regulator of Micro Finance InstitutionsTo bring Non-government Microfinance Institutions (NGO-MFIs) under a regulatory framework, the Government of Bangladesh enacted â€Å"Microcredit Regulatory Authority Act, 2006’† (Act no. 32 of 2006) which came into effect from August 27, 2006. Under this Act, the Government established Microcredit Regulatory Authority (MRA) with a view to ensuring transparency and accountability of microcredit activities of the NGO-MFIs in the country. The Authority is empowered and responsible to implement the said act and to bring the microcredit sector of the country under a full-fledged regulatory framework.MRA’s mission is to ensure transparency and accountability of microfinance operations of NGO-MFIs as well as foster sustainable growth of this sector. In order to achieve its mission, MRA has set itself the task to attain the following goals: †¢To formulate as well as implement the policies to ensu re good governance and transparent financial systems of MFIs. †¢To conduct in-depth research on critical microfinance issues and provide policy inputs to the government consistent with the national strategy for poverty eradication. To provide training of NGO-MFIs and linking them with the broader financial market to facilitate sustainable resources and efficient management. †¢To assist the government to build up an inclusive financial market for economic development of the country. †¢To identify the priorities in the microfinance sector for policy guidance and dissemination of information to attain the MRA’s social responsibility. According to the Act, the MRA will be responsible for the three primary functions that will need to be carried out, namely: †¢Licensing of MFIs with explicit legal powers; Supervision of MFIs to ensure that they continue to comply with the licensing requirements; and †¢Enforcement of sanctions in the event of any MFI failing to meet the licensing and ongoing supervisory requirements. Banks After the independence, banking industry in Bangladesh started its journey with 6 Nationalized commercialized banks, 2 State owned Specialized banks and 3 Foreign Banks. In the 1980's banking industry achieved significant expansion with the entrance of private banks.Now, banks in Bangladesh are primarily of two types: †¢Scheduled Banks: The banks which get license to operate under Bank Company Act, 1991 (Amended in 2003) are termed as Scheduled Banks. †¢Non-Scheduled Banks: The banks which are established for special and definite objective and operate under the acts that are enacted for meeting up those objectives, are termed as Non-Scheduled Banks. These banks cannot perform all functions of scheduled banks. There are 47 scheduled banks in Bangladesh who operate under full control and supervision f Bangladesh Bank which is empowered to do so through Bangladesh Bank Order, 1972 and Bank Company Act, 1991. S cheduled Banks are classified into following types: †¢State Owned Commercial Banks (SOCBs): There are 4 SOCBs which are fully or majorly owned by the Government of Bangladesh. Nationalized Commercial Bank of Bangladesh: †¢Sonali Bank †¢Agrani Bank †¢Rupali Bank †¢Janata Bank †¢ †¢Specialized Banks (SDBs): 9 specialized banks are now operating which were established for specific objectives like agricultural or industrial development. These banks are also fully or majorly owned by the Government of Bangladesh. . Karmasangsthan Bank 2. Bangladesh Krishi Bank 3. Rajshahi Krishi Unnayan Bank 4. Progoti Co-operative Landmortgage Bank Limited (Progoti BanK) 5. Grameen Bank 6. Bangladesh Development Bank Ltd 7. Bangladesh Somobay Bank Limited(Cooperative Bank) 8. Ansar VDP Unnyan Bank 9. BASIC Bank Limited (Bangladesh Small Industries and Commerce Bank Limited †¢ †¢Private Commercial Banks (PCBs): There are 37 private commercial banks which are m ajorly owned by the private entities. PCBs can be categorized into two groups: 1. United Commercial Bank Limited 2. Mutual Trust Bank Limited 3. BRAC Bank Limited . Eastern Bank Limited 5. Dutch-Bangla Bank Limited 6. Dhaka Bank Limited 7. Islami Bank Bangladesh Ltd 8. Uttara Bank Limited 9. Pubali Bank Limited 10. IFIC Bank Limited 11. National Bank Limited 12. The City Bank Limited 13. NCC Bank Limited 14. Mercantile Bank Limited 15. Prime Bank Limited 16. Southeast Bank Limited 17. Al-Arafah Islami Bank Limited 18. Social Islami Bank Limited 19. Standard Bank Limited 20. One Bank Limited 21. Exim Bank Limited 22. Bangladesh Commerce Bank Limited 23. First Security Islami Bank Limited 24. The Premier Bank Limited 25. Bank Asia Limited 26.Trust Bank Limited 27. Shahjalal Islami Bank Limited 28. Jamuna Bank Limited 29. ICB Islamic Bank 30. AB Bank 31. Social Investment Bank Ltd 32. Union Bank 33. Modhumati Bank 34. The Farmers' Bank 35. Midland Bank 36. Meghna Bank 37. South Bangla Agriculture and Commerce Bank †¢Conventional PCBs: 23 conventional PCBs are now operating in the industry. They perform the banking functions in conventional fashion interest based operations. †¢Islami Shariah based PCBs: There are 7 Islami Shariah based PCBs in Bangladesh and they execute banking activities according to Islami Shariah based principles i. . Profit-Loss Sharing (PLS) mode. . †¢Foreign Commercial Banks (FCBs): 10 FCBs are operating in Bangladesh as the branches of the banks which are incorporated in abroad. 10 foreign commercial banks are operating in Bangladesh. These are – 1. Citibank 2. HSBC 3. Standard Chartered Bank 4. Commercial Bank of Ceylon 5. State Bank of India 6. Habib Bank Limited 7. National Bank of Pakistan 8. Woori Bank 9. Bank Alfalah 10. ICICI Bank There are now 4 non-scheduled banks in Bangladesh which are: †¢Ansar VDP Unnayan Bank, †¢Karmashangosthan Bank, †¢Probashi Kollyan Bank, †¢Jubilee Bank FIsNon Bank Financial Institutions (FIs) are those types of financial institutions which are regulated under Financial Institution Act, 1993 and controlled by Bangladesh Bank. Now, 31 FIs are operating in Bangladesh while the maiden one was established in 1981. Out of the total, 2 is fully government owned, 1 is the subsidiary of a SOCB, 13 were initiated by private domestic initiative and 15 were initiated by joint venture initiative. Major sources of funds of FIs are Term Deposit (at least six months tenure), Credit Facility from Banks and other FIs, Call Money as well as Bond and Securitization.The major difference between banks and FIs are as follows: †¢FIs cannot issue cheques, pay-orders or demand drafts. †¢FIs cannot receive demand deposits, †¢FIs cannot be involved in foreign exchange financing, †¢FIs can conduct their business operations with diversified financing modes like syndicated financing, bridge financing, lease financing, securitization instruments, privat e placement of equity etc. Capital market After the independence, establishment of Dhaka Stock Exchange (formerly East Pakistan Stock Exchange) initiated the pathway of capital market intermediaries in Bangladesh.In 1976, formation of Investment Corporation of Bangladesh opened the door of professional portfolio management in institutional form. In last two decades, capital market witnessed number of institutional and regulatory advancements which has resulted diversified capital market intermediaries. At present, capital market intermediaries are of following types: 1. Stock Exchanges: Apart from Dhaka Stock Exchange, there is another stock exchange in Bangladesh that is Chittagong Stock Exchange established in 1995. 2.Central Depository: The only depository system for the transaction and settlement of financial securities, Central Depository Bangladesh Ltd (CDBL) was formed in 2000 which conducts its operations under Depositories Act 1999, Depositories Regulations 2000, Depository (User) Regulations 2003, and the CDBL by-laws. 3. Stock Dealer/Sock Broker: Under SEC (Stock Dealer, Stock Broker & Authorized Representative) Rules 2000, these entities are licensed and they are bound to be a member of any of the two stock exchanges. At present, DSE and CSE have 238 and 136 members respectively. . Merchant Banker & Portfolio Manager: These institutions are licensed to operate under SEC (Merchant Banker & Portfolio Manager Rules) 1996 and 45 institutions have been licensed by SEC under this rules so far. 5. Asset Management Companies (AMCs): AMCs are authorized to act as issue and portfolio manager of the mutual funds which are issued under SEC (Mutual Fund) Rules 2001. There are 15 AMCs in Bangladesh at present. 6. Credit Rating Companies (CRCs): CRCs in Bangladesh are licensed under Credit Rating Companies Rules, 1996 and now, 5 CRCs have been accredited by SEC. 7.Trustees/Custodians: According to rules, all asset backed securitizations and mutual funds must have an accredited trusty and security custodian. For that purpose, SEC has licensed 9 institutions as Trustees and 9 institutions as custodians. 8. Investment Corporation of Bangladesh (ICB): ICB is a specialized capital market intermediary which was established in 1976 through the ordainment of The Investment Corporation of Bangladesh Ordinance 1976. This ordinance has empowered ICB to perform all types of capital market intermediation that fall under jurisdiction of SEC. ICB has three subsidiaries: 8. 1.ICB Capital Management Ltd. , 8. 2. ICB Asset Management Company Ltd. , 8. 3. ICB Securities Trading Company Ltd. Insurance Insurance sector in Bangladesh emerged after independence with 2 nationalized insurance companies- 1 Life & 1 General; and 1 foreign insurance company. In mid 80s, private sector insurance companies started to enter in the industry and it got expanded. Now days, 62 companies are operating under Insurance Act 2010. Out of them- †¢18 are Life Insurance Compani es including 1 foreign company and 1 is state-owned company, †¢44 General Insurance Companies including 1 state-owned company.Insurance companies in Bangladesh provide following services: 1. Life insurance, 2. General Insurance, 3. Reinsurance, 4. Micro-insurance, 5. Takaful or Islami insurance. Micro Finance Institutions (MFIs) The member-based Microfinance Institutions (MFIs) constitute a rapidly growing segment of the Rural Financial Market (RFM) in Bangladesh. Microcredit programs (MCP) in Bangladesh are implemented by various formal financial institutions (nationalized commercial banks and specialized banks), specialized government organizations and Non-Government Organizations (NGOs).The growth in the MFI sector, in terms of the number of MFI as well as total membership, was phenomenal during the 1990s and continues till today. Despite the fact that more than a thousand of institutions are operating microcredit programs, but only 10 large Microcredit Institutions (MFIs) a nd Grameen Bank represent 87% of total savings of the sector and 81% of total outstanding loan of the sector. Through the financial services of microcredit, the poor people are engaging themselves in various income generating activities and around 30 million poor people are directly benefited from microcredit programs.Credit services of this sector can be categorized into six broad groups: i) general microcredit for small-scale self employment based activities, ii) microenterprise loans, iii) loans for ultra poor, iv) agricultural loans, v) seasonal loans, and vi) loans for disaster management. Currently, 599 institutions (as of October 10 2011) have been licensed by MRA to operate Micro Credit Programs. But, Grameen Bank is out of the jurisdiction of MRA as it is operated under a distinct legislation- Grameen Bank Ordinance, 1983. Recent Developments in Financial Sector of BangladeshAutomation and Technological Development: Banking sector experienced remarkable progress in respect of automation in functioning in last several years. For the pro-active and forward-visioning approach of Bangladesh Bank, numbers of automation initiatives have been implemented in banking sector. These initiatives include: †¢To create a disciplined environment for borrowing, the automated Credit Information Bureau (CIB) service provides credit related information for prospective and existing borrowers. With this improved and efficient system, risk management will be more effective.Banks and financial institutions may furnish credit information to CIB database 24 by 7 around the year; and they can access credit reports from CIB online instantly. †¢L/C Monitoring System has been introduced for preservation and using the all necessary information regarding L/C by the banks through BB website. This system allows the authorized users of banks to upload and download their L/C information. †¢ In terms of article 36(3) of Bangladesh Bank Order, 1972, all scheduled banks are subject to submit Weekly Statement of Position as at the close of business on every Thursday to the Department of Off-site Supervision.This statement now is submitted through on-line using the web upload service of BB website within o3 (three) working days after the reporting date which is much more time and labor efficient that the earlier manual system. †¢The e-Returns service has been introduced which is An Online Portal Service for Scheduled Banks to submit Electronic Returns using predefined template for the purpose of Macro Economy Analysis through related BB Departments. †¢Online Export Monitoring System is used for monitoring export of Bangladesh. Through this service, Banks and AD Branches of Banks issue & reports export report. Bangladesh Automated Clearing House (BACH) started to work by replacing the ancient manual clearing system which allows the inter-bank cheques and similar type instruments to be to settled in instant manner. †¢Electronic Fund Transfer (EFT) has been introduced which facilitates the banks to make bulk payments instantly and using least paper and manpower. †¢The initiation of Mobile Banking has been one of the most noteworthy advancement in banking. Through this system, franchises of banks through mobile operators can provide banking service to even the remotest corner of the country. Almost every commercial bank is now using their own core banking solution which has made banking very faster and efficient. Usage of plastic money has much more increased in daily life transactions. Full or partial online banking is now being practiced by almost every bank. Inauguration of internet trading in both of the bourses (DSE & CSE) in the country is the most significant advancement for capital market in last several years. Micro Finance Institutions submit their reports to the regulator through the Online Report Submission Tools for MFIs. Institutional Development:Through the Central Bank Strengthening Project, there ha ve been a good number of achievements regarding the institutional development in BB which can be observed below: †¢The implementation of Enterprise Resource Planning (ERP) has been a big step in automation of operational structure of BB. †¢The establishment of Enterprise Data Warehouse (under process) will bring the whole banking and FI industry under a single network through which data sharing, reporting and supervision will enter in a new horizon. †¢Bangladesh Bank now possesses the most informative and resourceful website of the country regarding economic and financial information. Internal networking system with required online communication facilities have been developed and in operation for the officers of BB. †¢BB has hosted number of international seminars on different economic and financial issues over last several years. MRA was established in 2006 for bringing NGO-MFIs under supervision. For the pro active role of MRA, this sector (MFI) is now in a goo d shape regarding the accountability and regulation. For abolishing anomaly and fetching discipline in insurance industry, IDRA was established in 2011.In one year, IDRA has taken number of appreciable steps to regularize this industry. After the massive crash of local bourses in 2010-2011, the executive body of SEC was redesigned in full and some good results have come after that. Regulatory Development: Banking and FI industries have experienced diversified regulatory development over last few years: †¢Full implementation of Basel-II (International capital adequacy standard) accord has been in effect in both banking and FI industry. †¢Guidelines on Environmental and Climate Change Risk Management for banks and FIs have been circulated.Policy guidelines on Green Banking also have been issued. †¢Guidelines on Stress Testing for banks and FIs have been issued which is aimed to assess the resilience of banks and FIs under different adverse situations. †¢Number of P olicy initiatives for Financial Inclusion has been undertaken. †¢Banks have been asked to build up separate Risk Management Unit for comprehensive and intensive risk management. †¢Banks have been instructed to create separate subsidiary for capital market operations and capital market operations of banks are now minutely monitored. Supervision has been intensified to increase the participation of banks in Corporate Social Responsibility (CSR). †¢For the efficient and timely action of BB, foreign exchange reserve of Bangladesh did not face any adversity during global financial turmoil of 2007-09. †¢To meet international standard on Anti Money Laundering (AML)/Combating Financing of Terrorism (CFT) issues, guidelines for Money Changers, Insurance Companies and Postal Remittance have already been circulated. SEC has updated Public Issue Rules, 2006 and Mutual Fund Rules, 2001.Apart from that, numbers of AMCs, merchant banks and are Mutual Funds are permitted by SEC which has increased the participation of institutional investors. The trend of capital market research has been upward which indicates the potential of analytical investment decision. Insurance Act 2010 was formulated to meet demand of concurrent time for shifting the insurance industry in a better shape. Apart from that, several initiatives have been undertaken by IDRA for prohibiting the malpractices in the industry regarding insurance commission, agent, premium etc and corporate governance issues.Banks As on June 2011 Deposits AdvancesTotal Capital*No. of Branches 4115855. 50 Million3212848. 70 Million461697. 00 Million7772 FIs As on December 2010 Deposits Loans and leasesAssetsShare Capital & ReserveNo. of Branches 94374. 80 Million321284. 87 Million251527. 34 Million44689. 29 Million115 Insurance As on December 2009 AssetShare CapitalReserve Life Insurance118020. 15 Million1245. 54 Million106098. 88 Million Non-Life Insurance42622. 90 Million6653. 83 Million12133. 30 Million Ca pital MarketMarket Capitalization of Dhaka Stock Exchange As on September 2011 All Listed Securities2,782,901Million All Listed Companies Shares2,202,274 Million All Listed Mutual Funds35,733 Million All Debentures576 Million All Listed Govt. T-Bonds537,381 Million All Listed Corporate Bonds6,937 Million MFIs As on June 2009 Total Outstanding Number of ClientsNumber of BorrowersNo. of Branches 1,21,881. 85 Million24. 77 Million19. 50Million 18,022 * Sum of Tier-I, Tier-II and Tier-II Capital Components Related article: Padma Bridge

PSAT Scoring How Does It Work

PSAT Scoring How Does It Work SAT / ACT Prep Online Guides and Tips If you're preparing to take the PSAT, it'simportant you understand everything there is to know aboutPSAT scoring. How is the PSAT scored? And how will this information help you get the score you want on test day? On the SAT? In this article, we go overthePSAT scoring scale and show you how to calculate your PSAT scores using official scoring tables. We also coverSelection Index scores and offer our top four tips on how to utilize PSAT scoringto inform both PSAT and SAT prep! How Is the PSAT Scored Overall? By Section? The PSAT scoring scale is 320-1520 in 10-point increments. On this scale, 320 is the minimum score you can get and 1520 is the maximum. This scale differs just slightly from the SAT scoring scale, which is 400-1600. Like the SAT, your total PSAT score is a combination of your Evidence-Based Reading and Writing (EBRW) and Math scores. (The EBRW score comprises the Reading and Writing and Language sections.) Both EBRW and Math use a score range of160-760, with each section accounting for halfyour total PSAT score. So a 500 on EBRW and a 600 on Math would equala total PSAT score of 1100. But obviously there aren't1,520 questions on the PSAT! So why is the PSAT scoring scale out of 1520? The reason for this is thatall of these scores are actuallyscaled scores, which areconverted fromraw scores (equivalent to the number of questions you answered correctly) through a specialequating process. The College Board uses this process toaccount for variances in difficulty among PSATs - essentially, to ensure that a scaled PSAT score will always indicate the same level of ability, no matter when you take thetest. Here’s how theCollege Board describes the PSATequating process: â€Å"This conversion process adjusts for slight differences in difficulty among versions of the test and provides a score that is equated, or consistent, across forms. This process ensures that no student receives an advantage or disadvantage from taking a particular form of the test on a particular day;* a score of 400 on one test form is equivalent to a score of 400 on another test form.† *Emphasis mine. Upon completing the PSAT, you’ll earn three raw scoresfor Math, Reading, and Writing and Language (hereafter referred to as â€Å"Writing†). So if you were to answer 40 Math questions correctly, your raw Math score would be 40. Likewise, if you were to answer 26 Writing questions correctly, your raw Writing score would be 26. You do not lose any points for incorrect or blank answers.These raw scores are thenequated into your final (scaled) Math and EBRW scores. Here's the catch, though: theequating formula differs for each PSAT. Andbecause only the College Board knows what these formulas are, we'll never be able to predict exactlyhow a raw score will convert into a scaled score on an upcoming PSAT. Nevertheless, we can use scoring charts from official PSAT practice tests to estimate how raw scores may translate into scaled scores. Thesetables differ foreach practice test but are extremely helpful because they show ushow PSAT scores typically convert into scaled scores. Scoring charts are the handy, dandy notebook for high school students. Below aretwo examples of PSAT scoring charts, both taken from official PSAT practice tests: Practice Test #1PSAT Scoring Chart Raw Score Reading Test Score Writing Test Score Math Section Score Raw Score Reading Test Score Writing Test Score Math Section Score 0 8 8 160 25 26 25 560 1 9 9 190 26 26 26 570 2 10 10 210 27 27 27 580 3 11 11 240 28 27 27 580 4 12 12 270 29 28 28 590 5 14 13 290 30 28 28 600 6 15 14 320 31 29 29 610 7 16 14 340 32 29 29 620 8 16 15 360 33 30 30 630 9 17 15 370 34 30 30 640 10 18 16 390 35 31 31 650 11 18 16 400 36 31 32 670 12 19 17 420 37 32 32 680 13 19 18 430 38 32 33 690 14 20 18 440 39 33 34 710 15 20 19 460 40 34 35 720 16 21 20 470 41 34 36 730 17 21 20 480 42 35 37 730 18 22 21 490 43 36 37 740 19 22 21 500 44 37 38 740 20 23 22 510 45 37 750 21 23 23 520 46 38 750 22 24 24 530 47 38 760 23 24 24 540 48 760 24 25 25 550 Source: Scoring Your PSAT/NMSQT Practice Test #1 Practice Test #2PSAT Scoring Chart Raw Score Reading Test Score Writing Test Score Math Section Score Raw Score Reading Test Score Writing Test Score Math Section Score 0 8 8 160 25 25 26 530 1 9 9 190 26 26 26 540 2 10 10 210 27 26 27 540 3 11 11 240 28 27 27 550 4 12 12 260 29 28 28 560 5 13 13 290 30 28 28 570 6 14 13 310 31 29 29 570 7 15 14 320 32 29 29 580 8 16 14 340 33 30 30 590 9 16 15 350 34 31 31 600 10 17 16 370 35 31 31 610 11 17 16 380 36 32 32 620 12 18 17 400 37 32 33 630 13 18 18 410 38 33 33 640 14 19 18 420 39 34 34 650 15 19 19 430 40 34 35 670 16 20 20 440 41 35 36 680 17 21 20 450 42 35 37 700 18 21 21 460 43 36 38 710 19 22 22 470 44 36 38 730 20 22 23 480 45 37 740 21 23 23 490 46 38 740 22 24 24 500 47 38 750 23 24 24 510 48 760 24 25 25 520 Source: Scoring Your PSAT/NMSQT Practice Test #2 Bycomparing the tables above, we can see that there are small differences in how raw scores convert into scaled scores. For example, a raw Math score of 37 converts into 680 on Test #1but only 630 on Test #2! As I explained previously, these conversions differ because the two tests vary slightly in difficulty. Now that we’ve covered the equating process and how the overall PSAT is scored, let’s take a closer look at PSAT scoringfor Math and EBRW. Prepare to enter the math vortex! Vroooooom! Your PSAT Math Score Math consists of two subsections: a No Calculator section consisting of 17 questions and for which you may not use a calculator, and a Calculator section consisting of 31 questions and for which you may (but don’t need to) use a calculator. Your Math score begins as a total raw score out of 48 (the total number of questions on Math).Here are the steps for calculating your Math section score using your raw score: 1. Calculate your raw Math scores for each subsection. Start by adding up all of your correct answers on the No Calculator and Calculator subsections using the answer key for your test. On official practice tests, your Math answer key will look something like this: 2. Add your rawscores together togeta total raw Mathscore out of 48.So if I got 10 questions right on the No Calculator subsection and 22 questions right on the Calculator subsection, my total raw Math score would be 32. 3. Find your Math section score using your test’s scoring chart. Your test should offer a conversion table for calculating your Math section score. In my example, I’d find 32 on my test’s conversion table and look for itscorresponding scaled score (which, in this case, is 620): If you’re not using an official practice test and/or don't have a PSAT scoring chart for your test, you can use the two conversion tables at the beginning of this articleto estimate how your raw Math score will convert into a scaled score. For example, let's say you have a raw Math score of 40. According to our tables for Practice Tests #1 and #2, 40 on Math converts into either 670 or 720. This means that your Math section score is likely somewhere around the high 600s or low 700s. Time tomove on to Reading and Writing! (Am I dating myself with a pic of actual encyclopedias?) Your PSAT EBRWScore YourEBRW score is a combination of your Reading and Writing scores, which are at first given to you as two separate scores. Your Reading score startsas a raw score out of 47, whereas your Writing score is out of 44. These are then converted into test scores and then finally a combined EBRW section score. In contrast with the relatively simple process for finding your Math score, finding your EBRW score requires a couple of extra steps. Here’s how to calculate it: 1. Calculate your raw Reading and Writing scores.Use your practice test's answer key to add up all of the correct answers you got on Reading and Writing. Be sure you add these scores up separately - you won’t be combining them until later. Here’s an example of an answer key for the Reading and Writing sections: 2. Find your Reading and Writing test scores. Unlike the Math raw score, which immediately converts into a scaled section score out of 760, the Reading and Writing scores will first convert into individual test scores on a scale of 8-38. So if my raw score were 35 for Reading and 38 for Writing, my Reading and Writing test scores would, according to the chart below, convert into 31 and 33, respectively: 3. Combine your Reading and Writing test scores to get a total EBRW test score.In the example I used above, my Reading test score was 31 and my Writing test score was 33; thus, my total EBRW test score would be 64. 4. Multiply your EBRW test score by 10 to get your section score. This final step converts your EBRW test score into a scaled EBRW section score out of 760. This means that my test score of 64 would equal a final EBRW score of 640. Not bad! Disappointed with your PSAT performance? Want to improve your PSAT score by 150 points? We have the industry's leading PSAT prep program. Built by Harvard grads and SAT full scorers, the program learns your strengths and weaknesses through advanced statistics, then customizes your prep program to you so you get the most effective prep possible. Check out our 5-day free trial today: Once you’re finished calculating your scaled scores for both Math and EBRW, add the two scores together to get your composite PSAT score out of 1520. If you want, you can compare your score to the current PSAT percentiles to get a feel for where you stand in comparison with other test takers. These next scores are like the cherry on top: some people love them, and some people couldn't care less about them. PSAT Subscores and Cross-Test Scores In addition to Math and EBRW section scores, you’ll also be given separate subscores and cross-test scores (the same ones you’ll get on the SAT). These additional scores break down the three sections into smaller categories in order to highlight your strengths and weaknesses in specific skill areas. Below, I explain how to calculate these subscores andgo over what they mean for you. Your PSAT Subscores On the PSAT, you'll receiveseven subscores: For EBRW Command of Evidence Words in Context Expression of Ideas Standard English Conventions For Math Heart of Algebra Problem Solving and Data Analysis Passport to Advanced Math Each subscore is scored on a scaleof 1-15. These subscores indicate how well you've performed on designated skill areas, such as vocabulary and data analysis. To calculate your subscores, use your practice test’s subscore answer key, taking care to note which questions fall under which subscore categories. Scoring guides for official PSAT practice tests offer detailed descriptionsfor each subscore, explaining what the subscore measures and which questionsit comprises. Here's an example: Once you’ve tallied your correct answers for each subscore, you will then convert this raw score into a scaled subscore using your test’s scoring chart for subscores: Although these subscores are useful for deciphering your own strengths and weaknesses, in the end they’re not especially significant. As it stands, subscores don’t factor into your PSAT section scores or even your overall PSAT score. They also aren’t used to select candidates for the National Merit Scholarship Program (which we’ll get into more in a moment). Your PSAT Cross-Test Scores Cross-test scores indicate how well you've answeredquestions in thedomains of history/social studies and science. Unlike the subscores above, cross-test scores are not section specific; rather, they apply to all sections and use a scoring scale of 8-38. The two types of cross-test scores are: Analysis in History/Social Studies Analysis in Science To calculate your cross-test scores, use your test’s scoring guide to see which Math and EBRW questions comprise these two categories as well as how many questions you answered correctly (i.e., your raw score). Here’s an example of a cross-test score answer key for Analysis in Science: Once you’ve figured out your raw scores, use the cross-test scoring chartthat came with your test to calculate your scaled cross-test scores: Now here's a score that's actually worth something! Your National Merit Selection Index Score The final score you’ll receive on the PSAT is a National Merit Scholarship Corporation (NMSC) Selection Index score. The Selection Index score uses a score range of 48-228 and is equivalent to the sum of your Reading, Writing, and Math test scores (that is, the ones on scales of 8-38) multiplied by 2. So if my three test scores were 34, 30, and 27, my Selection Index score would be: 34+30+27=91 91*2=182 The NMSC uses Selection Index scores to determine your eligibility for the National Merit Scholarship Program. This program offers an extremely prestigious distinction and scholarship to students with exceptionally high PSAT scores. Each year, the top 1 percent of PSAT scorers in the 11th grade - equal to about 16,000 students - become Semifinalists. Of those students, 15,000 will become Finalists. And of those students, 8,000 will each win a $2,500 scholarship! The Selection Index score you need in order to be aSemifinalistvaries by state but usually ranges anywhere from 209 to 222.See our guidefor an updated list of Selection Index score cutoffs by state. 4 Tips for Usingthe PSAT Scoring System to Your Advantage So far, we've addressed nearly everything you need to know about the PSAT scoring scale. But what can you actually gain from it? Here are four simple ways you can use PSAT scoring to your advantage. #1: Set a PSAT Goal Score Using Selection Index Cutoffs Ifyou want to try to qualify as a Semifinalist for the National Merit Scholarship Program, you can use the Selection Index score cutoffs to set a PSAT goal score. Remember that the cutoffs vary by state, so it’s important you aim for your state’s cutoff and not a different state’s! According to our estimates, the lowest cutoff is 209 (equivalent to a total PSAT score of about1400) and the highest is 222 (equivalent to about 1480). For a detailed list of Selection Index score cutoffs and their (estimated) corresponding PSAT scores, refer to my article on thePSAT score range (coming soon). Let's look at an example. Jackie lives in Florida, whose Selection Index cutoff score is 217. This gives her a PSAT goal score of about 1450. To get her individual goal scores for Math and EBRW, Jackie divides her total PSAT goal score by 2. This gives her goal scores of 730 (rounded up from 725) for each section. If you’re stronger at Math or Reading/Writing, consider aiming for a higher score on your stronger section and a slightly lower score on your weaker section. So if Jackie were better at Math, she could instead aim for something like 750 on Math and 700-710 on EBRW. #2: Use Tables to Estimate the Number of Correct Answers You'llNeed If you've got a PSAT goal score in mind, you can usescoring chartsfrom official practice tests to estimate how many questions you’ll need to answer correctly in order to hit your goal score on test day. This process is somewhat complicated but extremely helpful to know how to do. Let's say your PSAT goal score is 1400, and you want to aim for 700 on both Math and EBRW. Using the tables above for Practice Tests #1 and #2, we see that 700 on Math comes out to 39-42 correct answers. (Remember, your raw score = the number of questions you answered correctly.) There are more steps for EBRW, however.First, divide your goal score (in this case, 700) by 10 to get your total Reading and Writing test score. This gives us 70. Then, divide this number in half to estimateyour individual Reading and Writing test scores. In our case, 70/2=35. Finally, convert your test scores into raw scores using the conversion tables above. In our example,a 35 Reading test score equals 41-42 correct answers, and a 35 Writing test score equals 40 correct answers. This process of working backward, albeittime-consuming, is useful because it offers a rough idea ofhow many questions you can afford to get wrong on the PSAT. It also lets you estimate what yourfinal PSAT scores will be before they’re released, thereby letting youpredict whether you’ll qualify for National Merit. I prefer estimating how many peeps I can fit in my mouth. Aiming for a National Merit Scholarship but worried your score won't qualify? If you're not sure you can self-study your way to a qualifying PSAT score, you'll love our PSAT prep program, PrepScholar. We designed our program to learn your strengths and weaknesses through advanced statistics and customize your prep to be as effective as possible for you. When you start with PrepScholar, you’ll take a diagnostic that will determine your weaknesses in over forty PSAT skills. PrepScholar then creates a study program specifically customized for you. To improve each skill, you’ll take focused lessons dedicated to each skill, with over 20 practice questions per skill. This will train you for your specific area weaknesses, so your time is always spent most effectively to raise your score. We also force you to focus on understanding your mistakes and learning from them. If you make the same mistake over and over again, we'll call you out on it. There’s no other prep system out there that does it this way, which is why we get better score results than any other program on the market. Check it out today with a 5-day free trial: #3: Consider Your PSAT Score a Starting Point to SAT Prep Your PSAT scores are important butnot nearly as important as your SAT scores, especially if you’re hoping to get into a top-tier university. Luckily, the PSATwas specifically designed to prepare studentsfor the SAT! We already know that the twotests use different scoring scales, with the PSAT being out of 1520 and the SAT out of 1600. But here's the kicker: each scaled score on the PSAT corresponds directly to the same scaled score on the SAT. This means thatany score you get on any PSAT or SAT will signifythe samelevel of ability. So 1400 on the PSAT equals 1400 on the SAT, 1250 equals 1250, 1000 equals 1000, etc. But if this is the case, why does the PSAT scoring scale only go up to 1520 and not 1600? The reason for this is that the PSATis not as challenging as the SAT. Toaccount for its lower difficulty level, then, the PSATemploys aslightly lower maximum of 1520 (which is not a perfect SAT score but close). Despite these connections, don’t consider your PSAT score a direct indicator of what your SAT score will be. Your PSAT score tells you where you’re currently scoring but not where you’re capable of scoring. In other words, think of your PSAT score as your baseline SAT score (i.e., the score you start off with before you begin anySAT prep). Then, once you have your SAT goal score, too, you can use both of these scores to calculate how many points you’ll need in order to hit your goal score on test day. #4: Use PSAT Scores and Subscores to Target Potential SAT Weaknesses What’s great about the PSAT is that it’s similar to the SAT - so much so that its section scores and subscores are the same ones you’ll get on the SAT. Therefore, you can use your PSAT scores to see what your SAT weaknesses are likely to be. For example, ifyou received a low Heart of Algebra subscore on the PSAT, it's a good idea to dedicate a lot of your SAT prep to mastering the basics of algebra. Or if you didn’t get a high Words in Context subscore, you'll probably want to spend more time improving your reading comprehension skills and fine-tuning your vocabulary knowledge. Knowing what to focus on for your SAT prep will not only help you hone your weaknesses but also help you attain an SAT score farhigher than your PSAT score! Recap:How Is the PSAT Scored? The total PSAT scoring scale is 320-1520, and the Math and EBRW scoring scale is160-760. The Math and EBRW section scores are scaled scores converted from raw scores through a special equating process, which changes slightlywith each test. Raw scores equalthe number of questions you answered correctly.A raw Math score converts directly into a scaled section score, whereas raw Reading and Writing scores are converted into test scores on a scale of 8-38,combined, and then multiplied by 10 to give you a single scaled EBRW score. ThePSAT also offers subscores and cross-test scores to indicate test takers' strengths and weaknesses in various skillareas. Subscores use a scale of1-15, while cross-test scores use a scale of8-38. The final score you'll get is a National Merit Selection Index score, which uses a scale of 48-228. This score determines who is eligible for National Merit consideration. Every year, the top 1 percent of 11th-grade test takers, or approximately 16,000 students, qualify as Semifinalists. Knowing the ins and outs ofPSAT scoring can help you qualify for National Merit as well as predicthow many questions you can afford to miss on test day. It can also offeryou a starting point for yourSAT prep and allow you to see which skills and areasyou'll need to honebefore taking the SAT. All in all, PSAT scoring is a pretty useful tool to have, so use it to your advantage whenever you can! PSAT scoring is a handytool - though not nearly as handy as Colonel Mustard's wrench. What’s Next? Want to learn more about PSAT scoring?Check out my in-depth guide to thePSAT score rangeto learn more about the score ranges for each section as well as the scores you'll need to qualify for National Merit. Got questions about the basics of the PSAT?Learn what exactly the PSAT is and what's considered a good score.If you're asophomore,read our guide to see how "good" scores differ for 10th graders. Ready to move on to SAT prep?Start with our guide to how the SAT is scored and learn about the basic differences between the PSAT and SAT, so you'll have no surpriseson test day. Disappointed with your scores? Want to improve your SAT score by 160 points?We've written a guide about the top 5 strategies you must be using to have a shot at improving your score. Download it for free now: