tailieunhanh - Chartered Institute for Securities & Investment (CISI) Certificate for Introduction to Securities and Investment

Our results indicate that the assumed structural identication scheme is compatible with the data. Based on the conrmed identication of funda- mental and nonfundamental shocks, the historical stock prices are decom- posed into fundamental components and nonfundamental components. In contrast to Binswanger (2004), the decomposition shows that the linkage be- tween Japanese stock prices and real activity shocks became strengthened since the bubble collapsed in the beginning of 1990s. After the outburst of the recent nancial crisis, the stock price collapsed again, while the devia- tion from the fundamental value remained small. In line with Chung and Lee (1998), our results suggest that the deviation of Japanese stock prices from. | UCAS helping students into higher education EXPERT GROUP REPORT FOR AWARD SEEKING ADMISSION TO THE UCAS TARIFF Chartered Institute for Securities Investment CISI Certificate for Introduction to Securities and Investment Richard Skerrett October 2009 tariffqueries@ UCAS Tariff Expert Group Report CONTENTS PAGE THE CONDUCT OF THE COMPARABILITY STUDY 3 SECTION 1 SUMMARY AND RECOMMENDATIONS 5 SECTION 2 OVERVIEW OF CISI CERTIFICATE FOR INTRODUCTION TO SECURITIES AND INVESTMENT 6 Aims and purpose of the qualification 6 History of the qualification 6 Entry requirements for the qualification 7 Age of candidates 7 Guided Learning Hours GLH 7 Content and structure of the qualification 7 Assessment - procedures methods and levels 8 Grading 12 Quality assurance processes 12 Amended specification 13 SECTION 3 OVERVIEW OF AQA GCE A LEVEL ACCOUNTING 14 Aims and purpose of the qualification 14 History of the qualification 14 Entry requirements for the qualification 14 Age of candidates 14 Guided Learning Hours GLH 14 Content and structure of the qualification 14 Assessment - procedures methods and levels 15 Grading 17 Quality assurance and code of practice 17 SECTION 4 SUMMARY OF COMPARISONS AND CONSIDERATIONS 18 Overview of processes undertaken 18 Comparison of aims 19 Comparison of qualification structure 20 Comparison of size GLH and content 20 Comparison of assessment models and arrangements 22 Comparison of candidate evidence 26 Comparison of Tariff domains 26 Aligning grades 27 Initial recommendations for awarding UCAS Tariff points 28 SECTION 5 UCAS DECISION MAKING PROCESS 31 HE auditor s report 31 Detailed account of the Expert Panel discussions 32 Summary of TAG TRG discussions 36 UCAS Board decision 36 APPENDIX 1 BIOGRAPHIES OF THE EXPERT GROUP MEMBERS 37 APPENDIX 2 THE EVIDENCE CONSIDERED 40 APPENDIX 3 TARIFF DOMAINS 41