2. The following data are taken from the financial market pages of an Australian newspaper.

Forward Margins

The data under the “Forward Margins” column represent the forward contracts for the US dollar with respect to the Australian dollar (given in points form).

(a) Using this data, and the bid-ask for spot USD at 0.7144 to 0.7145, compute the outright bid/ask rates for the following forward contracts:

(i) 1 month

(ii) 6 month

(iii) 2 years

(iv) 3 years

(b) Calculate the forward premium for the following contracts:

(i) 2 month

(ii) 3 month

(iii) 6 month

(iv) 1 year

c) You expect to receive US$ 70,000 in 6 months. What amount in A$ will that convert into of you use the above forward rates?

d) You need to buy US$ 500,000 in 2 years. How many A$ will you need if you use the forward rates above?

e) What do the forward rates indicate in terms of whether the A$ is expected to strengthen or weaken with respect to the US dollar?

1. Mark your confusion.
2. Show evidence of a close reading.
3. Write a 1+ page reflection.

The Black Wealth Gap
Source: TheWeek.com, October 2, 2020

Decades after the civil rights movement, African Americans still hold a fraction of the wealth of white
Americans. Why? Here's everything you need to know:
How big is the gap?
It's staggering. The net worth of a typical white family in 2016 — including home, retirement accounts,
and all assets — was nearly 10 times greater than that of a Black family, at $171,000 to $17,600. This
gulf even includes African Americans whose households are headed by college graduates, who actually
have less net worth than white households headed by high school dropouts. Wealth begets wealth through
generations, and African Americans have missed out on that transfer for centuries. Just 8 percent of Black
families receive an inheritance from parents or grandparents. For someone with no buffer of savings and
no family member who can help, any financial emergency — a sudden illness or job loss — is a
catastrophe.
How did the gap start?
After the Civil War, Reconstruction was supposed to begin making up for the hundreds of years of
slavery during which African Americans had wages, property, and even spouses and children stolen from
them. But the "40 acres and a mule" promised by Gen. William Sherman was yanked away by Abraham
Lincoln's successor, President Andrew Johnson, and the little land that had been parceled out was
returned to the white former slaveholders. Most Blacks in the South after the war were forced to toil as
sharecroppers, perpetually in debt to white landowners. Blacks who managed to succeed despite all this
fell victim to white terrorism, as in the 1898 Wilmington, North Carolina, massacre that wiped out a
Black-led government in the nation's only successful coup, or the 1921 Tulsa massacre in which jealous
whites attacked, burned, and even bombed from the air a thriving neighborhood known as Black Wall
Street. With segregation and Jim Crow laws depriving them of the vote and of economic opportunity,
many Blacks abandoned the South in the Great Migration, only to find more-subtle discrimination waiting
in the North.
What kind of discrimination?
The New Deal was meant to help the poor across America, but it had racism baked into it. Rather than
overturning racial covenants that kept Blacks out of desirable neighborhoods, the new Federal Housing

Administration promoted them. The government Home Owners' Loan Corporation marked majority-
Black districts in red on maps, so banks would not extend government-insured loans there — suppressing

both Black homeownership and business development. The corrosive effects of that "redlining" persist to
this day. After World War II, the G.I. Bill, which paid for college or vocational training for veterans and
offered subsidized mortgages, was administered by the states, which funneled the benefits away from
Blacks. And the 1956 Federal Highway Act that helped create the suburbs bulldozed and isolated black
neighborhoods, creating ghettos.
Didn't the Civil Rights Act help?
The 1964 Civil Rights Act prohibited discrimination and strengthened voting rights and the desegregation
of schools. But even as it "struck down legal barriers," says historian Leon Litwack, "it failed to dismantle
economic barriers." The wealth gap was already so large that even if Blacks were paid the same as whites
for the same job — and they were not — they were unable to catch up. Meanwhile, the era of mass
incarceration had begun. By the 1980s, Black men were 11 times as likely to be incarcerated as whites,
thanks partly to laws punishing use of crack cocaine an order of magnitude harsher than powder cocaine,
1. Mark your confusion.
2. Show evidence of a close reading.
3. Write a 1+ page reflection.

which was favored by wealthier whites. Our educational system also perpetuates Black poverty: Unlike in
most other advanced nations, schools are funded locally and are tied to the local tax base, which means
that people growing up in poor neighborhoods go to inadequate schools. Far from shrinking, the racial
wealth gap has in fact grown over the past few decades, particularly after the 2008 financial crisis, which
wiped out much of the progress blacks had made. While median white household incomes rose by a third
from 1983 to 2016, typical Black household incomes actually dropped by 50 percent.
But don't some Black people succeed?
Yes, but individual efforts to "bootstrap" one's way up the economic ladder face enormous obstacles. A
2019 Georgetown University study showed that wealth in youth is a better predictor of success than
intelligence. Racism in hiring persists, as numerous studies have shown that pit a résumé with a "Black--
sounding" name against a similar one with a white name. Marriage and stable families help create wealth,
and married Black women have more wealth than single Black women. But many Black men with low
incomes do not feel marriageable; moreover, a 2017 DuBois Cook Center study showed that wealth
differences persist between the races despite marriage status. Structural racism leaves African Americans

trapped in a wealth gap that is actually widening, not narrowing. "It is as though we have run up a credit-
card bill and, having pledged to charge no more, remain befuddled that the balance does not disappear,"

Black writer and intellectual Ta-Nehisi Coates said in The Atlantic. "The effects of that balance, interest
accruing daily, are all around us."
How COVID-19 worsened the gap
When the coronavirus hit this year, Black Americans were still reeling from the 2008 financial crisis. That
downturn had wiped out 53 percent of all Black wealth, largely because subprime lenders had targeted
Black communities with loans on bad terms. Then came the COVID-19 shutdown. While 22 percent of all
U.S. businesses shuttered between February and April this year, 41 percent of Black-owned businesses
closed. Many African-American business owners couldn't access the Payroll Protection Program, because
loans tended to go to large firms that had existing relationships with major banks. One study found that
white owners who went in person to a bank to ask for a PPP loan fared much better than Black owners
who did so, even when the Black owners had better financial profiles. And many Black-owned businesses
are sole proprietorships, which weren't covered. As a result, fewer than half of all African-American
adults now have a job. "The pandemic is falling on those least able to bear its burdens," said Federal
Reserve Chair Jerome Powell. "It is a great increaser of inequality."

Possible Response Questions:
• What are your thoughts about the black wealth gap? Explain.

National polls are often conducted by asking the opinions of a few thousand adults nationwide and using them to infer the opinions of all adults in the nation. Explain who is in the sample and who is in the population for such polls. Please use a poll from a newspaper, TV, a magazine, or from the Internet  

Analyze each stress situation by applying the components of the ABC-X Model. (A=Stressor, the thing that's causing the stress, life events that result in or require a family to change, B=Resources, things that can help them take care of the stress, internal or external and range from tangible (money, education/degrees earned) to intangible (social support systems), C=Perception, how the family is perceiving the stress, (1) How does the family view or define the problem? and (2) What is their understanding of the situation that resulted in the problem?, X=Crisis, when a family cannot put the stress event into perspective in a way that lets them manage it effectively)

SCENARIO #2—Janszen-Miller Family Chad and Jeff have been in a monogamous relationship for the past seven years. Chad is working toward his goal of being an executive for a Fortune 500 company. While he’s a few years away from actually realizing his goal, he makes enough to support himself, Jeff, and their children. Jeff has been a “stay-at-home parent” who cares for his son and Chad’s daughter while working on a science fiction novel—his lifetime goal. The men and their children have always been healthy—no one has ever been afflicted with more than a cold. Jeff’s son, Christopher, was recently diagnosed with Hodgkin’s Disease. He will require extensive medical care. Chad and Jeff are not sure what they’re going to do—the medical procedures are expensive and Chad’s health benefits cannot assist Jeff or his son.

Be sure to identify the A, B, C & X in each scenario

In some of the descriptions, it may not be clear as there could be multiple factors influencing the family. You can create "hypothetical" explanations for the possible A, B, C & X.

Discuss how communication can contribute to the reduction or resolution of the stressful situation experienced in each of the scenarios.

What recommendations would you offer to family members to resolve the impact of the stress? (not really Psychology but it's the closest subject)

The San Antonio Aviation Company of San Antonio, Texas, has received an order for 195,000 seats for the Airbus A-320 from the Airbus Consortium in Great Britain, payment to be in British pounds sterling. The seats will be shipped to Airbus under the terms of a letter of credit issued by the Royal Bank of Scotland on behalf of Airbus for the benefit of SA Aviation. This Letter of Credit specifies that the face value of the shipment, £20,500,000, will be paid 180 days after the Royal Bank of Scotland accepts a draft drawn in accordance with the terms of the Letter of Credit. No exchange rate is quoted in the Letter of Credit.

The current discount rate in London on 180-day banker’s acceptances is 8% per annum, and SA Aviation estimates its weighted average cost of capital to be 9% per annum. The commission for selling a banker’s acceptance in the discount market is 1.25% of the face amount.

       (a) Would the San Antonio Aviation Company gain by holding the banker’s acceptance to

             maturity or discounting the banker’s acceptance at once?

       (b) Does San Antonio Aviation Company incur any risks in this transaction?

            How might they manage these risks given the information below?

The national discount rate in the US is 3% while the rate in the UK is 5%. The current Spot Rate is: 0.6410£/$. The 180-day Forward Rate is £0.6415/$. UK lending rates are 8%. The 180 day strike price for the American Put Option to sell Sterling is: $1.5574/£ with a 0.2 cent premium per £.

4. List the correct sequence involved AND all required documents in the export of seats from the SA Aviation Company to the Airbus Consortium in the UK.

I need part d. answered please.

try to plan an audit of a real, public company called GAME STOP.

Discuss the general nature of the business done by the company, including how it earns revenues, what are major costs, where it operates, who it competes with, whether it is highly regulated, etc. This is a place to use your knowledge of other business, marketing, and economic concepts.

Discuss what you see as the three most important business risks for this company. These might include such things as the threat of substitutes for its products, or competition from bigger companies, or changes in government regulation, or impacts of proposed new laws, or changes in consumer tastes, or the fact that it is highly leveraged, or that its customers are concentrated in one area, or that its management is old and there are no successors in sight….. Please be specific – if you think competition is likely to be a problem, say who is likely to be the competition.

Discuss what you see as the three most important audit risks for the company? Audit risk areas might be the same and business risk areas, but audit risk is the risk that the financial statements will be wrong, and that the auditor won’t catch the misstatements. I am looking for you to think about accounts and/or disclosures that are most likely to be misstated, and to tell me why they might be misstated.

Discuss at least one audit procedure you would want to employ to mitigate each of the audit risks you mentioned above. (For example, if you thought there was a significant audit risk that the client would estimate its bad debt reserve wrong, what steps would you take as an auditor to try to catch this error?)

Ethics in Commerce

Sparrow Pharmaceuticals is the maker of several popular drugs used to treat high blood pressure and arthritis. Over time, the company has developed a positive relationship with many of the patients who use its medications through a quarterly newsletter that offers the latest information on new medical research findings and general health and fitness articles. The company just has been acquired by a group of investors who also own Soothing Waters Hot Tubs and Spas. The marketing director for Soothing Waters would like to use Sparrow’s mailing list for a direct-mail promotion.


Ethics Questions:

What should Sparrow Pharmaceuticals do?

Do you think it is ethical to use customer information across multiple divisions of the same company? Explain.

To which marketing management philosophy do you think the marketing director for Soothing Waters subscribes? Explain.

Does the AMA Statement of Ethics address the use of the customer information by multiple divisions of the same company? Go to http://www.marketingpower.com and review the statement. Then write a brief paragraph on how the AMA Statement of Ethics relates to Sparrow Pharmaceuticals’ dilemma.

(To locate the Statement of Ethics students would go to http://www.marketingpower.com and in the top right corner they would select, “About AMA,” and underneath “About AMA,” there are several Gray tabs to choose from, select “Statement of Ethics,” and begin to review the Statement of Ethics.)

The requirements below must be met for your paper to be accepted and graded:

Write between 500 – 750 words (approximately 2 – 3 pages) using Microsoft Word.

Robert, 62, newly diagnosed Diabetic discharged after treated for Diabetic Ketoacidosis. Recently retired Postal worker who lives alone in a private home. Has Medicaid services and private insurance. Resides in zip code 11201

A client scheduled for discharge back to their community (zip-code area) from the acute care setting. As the Community Health Nurse assigned to be the Case Manager for this client, the student will be required to prepare a discharge plan of care for the client (template provided). Plan of care must focus on Primary, Secondary and Tertiary levels of prevention for management of the client while in the community, resources and knowledge of the resources available within the community

Priority Teaching Topic: _______________________________________________________________

As the Community Health Nurse for this client, use the Functional Health Status Approach method for Community Assessment list the agencies available in the zip-code area to facilitate partnering for care of the individual in their community: -

Patience is 29 years old and has been HIV positive for 9 years. She has remained asymptomatic and is not taking antiretroviral medication. Recently she was at the drop-in clinic to talk to a public health nurse about having a baby through artificial insemination. She said she had met a man who wanted to marry her and have children with her, but she was concerned about the baby contracting her HIV infection. Her latest blood tests indicated her CD4⁺ count was 380/µL. The nurse referred her to the physician to discuss antiretroviral therapy during her pregnancy.

1. Outline the factors that increase the chance of HIV transmission from mother to infant and how transmission occurs.
   
2. Patience was told that after she became pregnant she would begin HAART therapy. Describe what this therapy is and what particular antiretroviral medication would be particularly useful to her during her pregnancy. What concern is there about administering certain antiretrovirals early in the pregnancy?
   
3. Individuals infected with HIV are prone to contracting opportunistic infections. Define opportunistic infection and outline the risk factors that leave an individual with HIV infection prone to contracting this type of illness.
   

Portfolio expected return and risk

A collection of financial assets and securities is referred to as a portfolio. Most individuals and institutions invest in a portfolio, making portfolio risk analysis an integral part of finance. Just like standalone assets and securities, portfolios are also exposed to risk. Portfolio risk refers to the possibility that an investment portfolio will not generate the expected rate of return.

Analyzing portfolio risk and return involves the understanding of expected returns from a portfolio.

Consider the following case:

Bob is an amateur investor who holds a small portfolio consisting of only four stocks. The stock holdings in his portfolio are shown in the following table:

The expected return on Bob’s stock portfolio is   .

Suppose each stock in the preceding portfolio has a correlation coefficient of 0.4 (ρ = 0.4) with each of the other stocks. If the weighted average of the risk (standard deviation) of the individual securities in the partially diversified portfolio of four stocks is 28%, the portfolio’s standard deviation (σpσp) most likely is   28%.