1. Aa per press report ,which of the following least prepared region will be facing the millennium bug fear ?






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MCQ-> Study the following information carefully and answer the question given below: Following are the conditions for selecting Senior Manager-General Banking in a bank: The candidate must (i) have secured at least 60 per cent marks in std XII. (ii)have secured at least 55 per cent marks in Graduation in any discipline (iii)have secured at least 60 per cent marks in Postgraduate degree/diploma in Management/Economics/statistics (iv)be at least 25 years and not more than 35 years as on 01-03-2010 (v)have post qualification work experience of at least 2 years as General Banking Officer in a bank (vi)have secured at least 40 per cent marks in the Personal interview In the case of a candidate who satisfies all the above conditions except (a)at (iii)above but has secured at least 60 per cent marks in CA or ICWA the case is to be referred to VP-Recruitment (b)at (vi)above but has secured at least 65 per cent marks in the written examination and at least 35 per cent marks in the personal interview the case is to be referred to president-Recruitment In each question below are given details of the one candidate You have to take one of the following course of action based on the information provided and the conditions and sub conditions given above and mark the number of that course of action as your answer You are not to assume anything other than the information provided in each question All these are given to you as on 01-03-2010Kesav Vora was born on 8th November 1978.He has secured 65 per cent marks in std XII and 60 per cent marks in Graduation He has secured 58 per cent marks in MA Economics and 60 per cent in ICWA He has been working in a bank as a generalist officer for the past two years after completing his education he has also secured 50 per cent marks in the written examination and 45 per cent marks in the personal interview
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MCQ->Aa per press report ,which of the following least prepared region will be facing the millennium bug fear ?....
MCQ-> The passage below is accompanied by a set of six questions. Choose the best answer to each question.I used a smartphone GPS to find my way through the cobblestoned maze of Geneva's Old Town, in search of a handmade machine that changed the world more than any other invention. Near a 13th-century cathedral in this Swiss city on the shores of a lovely lake, I found what I was looking for: a Gutenberg printing press. "This was the Internet of its day — at least as influential as the iPhone," said Gabriel de Montmollin, the director of the Museum of the Reformation, toying with the replica of Johann Gutenberg's great invention.Before the invention of the printing press, it used to take four monks up to a year to produce a single book. With the advance in movable type in 15th-century Europe, one press could crank out 3,000 pages a day. Before long, average people could travel to places that used to be unknown to them — with maps! Medical information passed more freely and quickly, diminishing the sway of quacks. The printing press offered the prospect that tyrants would never be able to kill a book or suppress an idea. Gutenberg's brainchild broke the monopoly that clerics had on scripture. And later, stirred by pamphlets from a version of that same press, the American colonies rose up against a king and gave birth to a nation.So, a question in the summer of this 10th anniversary of the iPhone: has the device that is perhaps the most revolutionary of all time given us a single magnificent idea? Nearly every advancement of the written word through new technology has also advanced humankind. Sure , you can say the iPhone changed everything. By putting the world's recorded knowledge in the palm of a hand, it revolutionized work, dining, travel and socializing. It made us more narcissistic — here's more of me doing cool stuff! — and it unleashed an army of awful trolls. We no longer have the patience to sit through a baseball game without that reach to the pocket. And one more casualty of Apple selling more than a billion phones in a decade's time: daydreaming has become a lost art.For all of that, I'm still waiting to see if the iPhone can do what the printing press did for religion and democracy...the Geneva museum makes a strong case that the printing press opened more minds than anything else...it's hard to imagine the French or American revolutions without those enlightened voices in print...Not long after Steve Jobs introduced his iPhone, he said the bound book was probably headed for history's attic. Not so fast. After a period of rapid growth in e-books, something closer to the medium for Chaucer's volumes has made a great comeback.The hope of the iPhone, and the Internet in general, was that it would free people in closed societies. But the failure of the Arab Spring, and the continued suppression of ideas in North Korea, China and Iran, has not borne that out. The iPhone is still young. It has certainly been "one of the most important, world-changing and successful products in. history," as Apple C.E.O. Tim Cook said. But I'm not sure if the world changed for the better with the iPhone — as it did with the printing press — or merely changed.The printing press has been likened to the Internet for which one of the following reasons?
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MCQ-> Study the following information carefully and answer the question given below: Following are the conditions for selecting Senior Manager Credit in a bank The candidate must (i) be a graduate in any discipline with at least 60 per cent marks (ii) have post-qualification work experience of at least ten years in the Advances Section of a bank. (iii) be at least 30 years and not more than 40 years as on 1.4.2010 (iv) have secured at least 40 per cent marks in the Group Discussion (v) have secured at least 50 per cent marks in the Interview In the case of a candidate who satisfies all the conditions EXCEPT (A) at (i) above but has secured at least 50 per cent marks in graduation and at least 60 per cent marks in post- graduation in any discipline the case is to be referred to the General Manager Advances (B) at (ii) above but has total post qualification work experience of at least seven years out of which at least three years as Manager Credit in a bank the case is to be referred to the Executive Director In each question below details of one candidate are given you have to take one of the following courses of action based on the information provided and the conditions and sub conditions given above and mark the number of that course of action as your answer You are not to assume anything other than the information provided in each question All these cases are given to you as on 01-04-2010Shobha Gupta has secured 50 per cent marks in the Interview and 40 per cent marks in the Group Discussion She has been working for the past eight years out of which four years as Manager Credit in a bank after completing her BA degree with 60 per cent marks She was born on 12th September 1978
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MCQ-> Read carefully the four passages that follow and answer the questions given at the end of each passage:PASSAGE I The most important task is revitalizing the institution of independent directors. The independent directors of a company should be faithful fiduciaries protecting, the long-term interests of shareholders while ensuring fairness to employees, investor, customer, regulators, the government of the land and society. Unfortunately, very often, directors are chosen based of friendship and, sadly, pliability. Today, unfortunately, in the majority of cases, independence is only true on paper.The need of the hour is to strengthen the independence of the board. We have to put in place stringent standards for the independence of directors. The board should adopt global standards for director-independence, and should disclose how each independent director meets these standards. It is desirable to have a comprehensive report showing the names of the company employees of fellow board members who are related to each director on the board. This report should accompany the annual report of all listed companies. Another important step is to regularly assess the board members for performance. The assessment should focus on issues like competence, preparation, participation and contribution. Ideally, this evaluation should be performed by a third party. Underperforming directors should be allowed to leave at the end of their term in a gentle manner so that they do not lose face. Rather than being the rubber stamp of a company’s management policies, the board should become a true active partner of the management. For this, independent directors should be trained in their in their in roles and responsibilities. Independent directors should be trained on the business model and risk model of the company, on the governance practices, and the responsibilities of various committees of the board of the company. The board members should interact frequently with executives to understand operational issues. As part of the board meeting agenda, the independent directors should have a meeting among themselves without the management being present. The independent board members should periodically review the performance of the company’s CEO, the internal directors and the senior management. This has to be based on clearly defined objective criteria, and these criteria should be known to the CEO and other executive directors well before the start of the evolution period. Moreover, there should be a clearly laid down procedure for communicating the board’s review to the CEO and his/her team of executive directors. Managerial remuneration should be based on such reviews. Additionally, senior management compensation should be determined by the board in a manner that is fair to all stakeholders. We have to look at three important criteria in deciding managerial remuneration-fairness accountability and transparency. Fairness of compensation is determined by how employees and investors react to the compensation of the CEO. Accountability is enhanced by splitting the total compensation into a small fixed component and a large variable component. In other words, the CEO, other executive directors and the senior management should rise or fall with the fortunes of the company. The variable component should be linked to achieving the long-term objectives of the firm. Senior management compensation should be reviewed by the compensation committee of the board consisting of only the independent directors. This should be approved by the shareholders. It is important that no member of the internal management has a say in the compensation of the CEO, the internal board members or the senior management. The SEBI regulations and the CII code of conduct have been very helpful in enhancing the level of accountability of independent directors. The independent directors should decide voluntarily how they want to contribute to the company. Their performance should decide voluntarily how they want to contribute to the company. Their performance should be appraised through a peer evaluation process. Ideally, the compensation committee should decide on the compensation of each independent director based on such a performance appraisal. Auditing is another major area that needs reforms for effective corporate governance. An audit is the Independent examination of financial transactions of any entity to provide assurance to shareholder and other stakeholders that the financial statements are free of material misstatement. Auditors are qualified professionals appointed by the shareholders to report on the reliability of financial statements prepared by the management. Financial markets look to the auditor’s report for an independent opinion on the financial and risk situation of a company. We have to separate such auditing form other services. For a truly independent opinion, the auditing firm should not provide services that are perceived to be materially in conflict with the role of the auditor. These include investigations, consulting advice, sub contraction of operational activities normally undertaken by the management, due diligence on potential acquisitions or investments, advice on deal structuring, designing/implementing IT systems, bookkeeping, valuations and executive recruitment. Any departure from this practice should be approved by the audit committee in advance. Further, information on any such exceptions must be disclosed in the company’s quarterly and annual reports. To ensure the integrity of the audit team, it is desirable to rotate auditor partners. The lead audit partner and the audit partner responsible for reviewing a company’s audit must be rotated at least once every three to five years. This eliminates the possibility of the lead auditor and the company management getting into the kind of close, cozy relationship that results in lower objectivity in audit opinions. Further, a registered auditor should not audit a chief accounting office was associated with the auditing firm. It is best that members of the audit teams are prohibited from taking up employment in the audited corporations for at least a year after they have stopped being members of the audit team.A competent audit committee is essential to effectively oversee the financial accounting and reporting process. Hence, each member of the audit committee must be ‘financially literate’, further, at least one member of the audit committee, preferably the chairman, should be a financial expert-a person who has an understanding of financial statements and accounting rules, and has experience in auditing. The audit committee should establish procedures for the treatment of complaints received through anonymous submission by employees and whistleblowers. These complaints may be regarding questionable accounting or auditing issues, any harassment to an employee or any unethical practice in the company. The whistleblowers must be protected. Any related-party transaction should require prior approval by the audit committee, the full board and the shareholders if it is material. Related parties are those that are able to control or exercise significant influence. These include; parent- subsidiary relationships; entities under common control; individuals who, through ownership, have significant influence over the enterprise and close members of their families; and dey management personnel.Accounting standards provide a framework for preparation and presentation of financial statements and assist auditors in forming an opinion on the financial statements. However, today, accounting standards are issued by bodies comprising primarily of accountants. Therefore, accounting standards do not always keep pace with changes in the business environment. Hence, the accounting standards-setting body should include members drawn from the industry, the profession and regulatory bodies. This body should be independently funded. Currently, an independent oversight of the accounting profession does not exist. Hence, an independent body should be constituted to oversee the functioning of auditors for Independence, the quality of audit and professional competence. This body should comprise a "majority of non- practicing accountants to ensure independent oversight. To avoid any bias, the chairman of this body should not have practiced as an accountant during the preceding five years. Auditors of all public companies must register with this body. It should enforce compliance with the laws by auditors and should mandate that auditors must maintain audit working papers for at least seven years.To ensure the materiality of information, the CEO and CFO of the company should certify annual and quarterly reports. They should certify that the information in the reports fairly presents the financial condition and results of operations of the company, and that all material facts have been disclosed. Further, CEOs and CFOs should certify that they have established internal controls to ensure that all information relating to the operations of the company is freely available to the auditors and the audit committee. They should also certify that they have evaluated the effectiveness of these controls within ninety days prior to the report. False certifications by the CEO and CFO should be subject to significant criminal penalties (fines and imprisonment, if willful and knowing). If a company is required to restate its reports due to material non-compliance with the laws, the CEO and CFO must face severe punishment including loss of job and forfeiting bonuses or equity-based compensation received during the twelve months following the filing.The problem with the independent directors has been that: I. Their selection has been based upon their compatibility with the company management II. There has been lack of proper training and development to improve their skill set III. Their independent views have often come in conflict with the views of company management. This has hindered the company’s decision-making process IV. Stringent standards for independent directors have been lacking....
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