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Business Research 524

ALLAMA IQBAL OPEN UNIVERSITY ISLAMABAD
(Department of Business Administration)
BUSINESS RESEARCH (524)
CHECKLIST
SEMESTER: AUTUMN 2012
This packet comprises the following material:
1. Text Book
2. Course Outline
3. Assignment No 1 &  2
4. Assignment Forms (2 sets)
Please contact at the address given below section, if you find anything missing out of the packet:
Mailing Officer,
Mailing Section,
Allama Iqbal Open University,
H-8, ISLAMABAD
Ph: 051-9057611-12
Ms. Sana Akbar Khan
Course Coordinator

ALLAMA IQBAL OPEN UNIVERSITY, ISLAMABAD
(Department of Business Administration)

WARNING
1. PLAGIARISM OR HIRING OF GHOST WRITER(S) FOR SOLVING THE ASSIGNMENT(S) WILL DEBAR THE STUDENT FROM AWARD OF DEGREE/CERTIFICATE, IF FOUND AT ANY STAGE.
2. SUBMITTING ASSIGNMENTS BORROWED OR STOLEN FROM OTHER(S) AS ONE’S OWN WILL BE PENALIZED AS DEFINED IN “AIOU PLAGIARISM POLICY”.


ASSIGNMENT No. 1
Course:  Business Research (524)    Semester: Autumn 2012
Level:  MBA Total Marks: 100
Pass Marks: 40

Q. 1 Explain the characteristics of a good research and discuss the managerial dimensions of each characteristic. (20)

Q. 2 (a) Elaborate the different steps of the research process. (10)
(b) What is a research question? How can the research question be formulated? Explain with an example. (10)

Q. 3 What are the various descriptors to classify the research design? Explain each. (20)

Q. 4 Differentiate each of the following with examples: (20)
i. Qualitative and quantitative research
ii. Discrete and continuous variable
iii. Correlational and explanatory hypothesis
iv. Stratified and cluster sampling

Q. 5 Differentiate between scale reliability and validity. Explain the factors of constructing a measurement scale that affect reliability and validity of the scale. (20)


ASSIGNMENT No. 2
Total Marks: 100

This assignment is a research-oriented activity. You are required to obtain information relating to any business or commercial organization, write a paper of about 10 pages on the topic allotted to you. You are required to prepare two copies of Assignment # 2.  Submit one copy to your tutor/teacher for evaluation and the second copy for presentation in the workshop in the presence of your resource persons and classmates, which will be held at the end of the semester prior to final examination.  Student studying at the approved Study Centers of AIOU are required to present the same at their study centers.
i. Introduction to the topic
ii. Important sub-topics
iii. Practical study of the organization with respect to the topic
iv. Review of theoretical and practical situations
v. Merits, demerits, deficiencies or strengths of the organization with respect to topic under study
vi. Conclusions and recommendations
vii. Annex, if any

You may use transparencies, charts or any other material for effective presentation. You are required to select one of the following topics according to the last digit of your roll number. For example, if your roll number is D-3427185 then you will select topic number 5 (the last digit).
0. Application of Software Packages in Business Research
1. Application of Qualitative Research in a Commercial Organization
2. Data Exploration for a Research
3. Role of R&D Department in Conducting Applied Research
4. Data Analysis in a Research
5. Data Collection Methods for Different Types of Research
6. Business Research & Management Effectiveness
7. Ethical Issues in Business Research
8. Essentials of Research Report
9. Enhancing Organizational Performance through Research

COURSE OUTLINES
Course: Business Research Course Code: 524
Level: MBA Credit Hours: 03

Unit-1: Introduction
1.1 Research: Basic Concepts, Need, and Importance
1.2 Research in Business  
1.2.1 Research and Decision Making
1.2.2 Classification of Research
1.2.3 Research Objectives
1.2.4 Research in Functional Areas of Business
1.2.5 Manager Research Relationship
1.2.6 Significance of Research
1.2.7 State of Scientific Development
1.3 Scientific Thinking
1.3.1 Nature of Science
1.3.2 Scientific versus Unscientific Methods
1.3.3 Foundation of Scientific Method
Unit-2: Research Design
2.1 Research Process
2.1.1 Research Process: Exploration, Data Collection, Analysis, and Interpretation
2.1.2 General Decision Process
a) Decision Components
b) Need for Research Assistance
2.1.3 Value of Research Information
a) Problems of Information Valuation
b) Ex post Facto Evaluation
c) Decision Theory Approach
2.1.4 Delineation of the Research Task  
a) Problems of Client Relations
b) Research Question Development
2.2 Research Design
2.2.1 Basic Concepts of Research Design
2.2.2 Classification of Designs
a) Degree of Problem Crystallization
b) Topical Scope
c) Research Environment
d) Time Dimension
e) Communication Modes
f) Researcher Control of Variables
g) Nature of Relationships among Variables
2.2.3 Exploratory Research
a) Methods of Exploration
b) Experience Survey
c) End of Exploration
d) Descriptive Studies
2.2.4 Causal Inference
a) Inductive Logic
b) Linkage Relationship
c) Positional Relationships
d) Testing Casual Hypothesis
e) Casual Inference and Experimental Design
f) Casual Inference and Ex post Facto Design

Unit-3: Sampling
3.1 Nature of Sampling
3.1.1 Using Sample
3.1.2 Characteristics of Good Sample
3.1.3 Types of Sample Design
3.1.4 Advantages and Limitation of Sampling
3.2 Probability Sampling
3.2.1 Sampling Procedure
3.2.2 Steps in Sampling Design
3.2.3 Sampling Concepts  
3.2.4 Sample Size Decision  
3.2.5 Sampling of Attributes                
3.3 Complex Probability Sampling
3.3.1 Systematic Sampling
3.3.2 Stratified Sampling            
3.3.3 Cluster Sampling  
3.3.4 Use of Non Probability Sampling
       
Unit-4: Measurement and Scaling
4.1 Measurement
4.1.1 Nature of Measurement
4.1.2 Measurement Scales
4.1.3 Characteristics of Sound Measurement
4.1.4 Development of Measurement Tools
4.2 Scaling
4.2.1 Nature of Scaling
4.2.2 Response Methods
4.2.3 Scale Construction Techniques

Unit-5: Use of Secondary Data
5.1 Nature of Secondary Data Sources
5.2 Use of Secondary Data    
5.3 Types of Secondary Data Sources      
5.4 Statistical Sources
5.5 Data Search Procedures and Evaluation of Secondary Data

Unit-6: Data Collection-I: Survey Instruments and Field Procedures
  6.1 Survey Instrument Design
6.1.1   Survey Situation          
a) Need to Survey
b) Communication Modes
c) Process Structure
d) Objective Disguise
6.1.2 Instrument Development Process
6.1.3 Construction of Questionnaire    
  6.2 Field Procedures         6.2.1 Personal Interviewing    
6.2.2 Telephone Interviewing
6.2.3 Interviewing by Mail    
6.3 Observations

Unit-7: Data Collection-II: Observation, Experimentation and Simulation
7.1 Experimentation and Simulation
    7.1.1   Nature of Experimentation and its Validity
  7.1.2 Experimental Research design      
    7.1.3 Simulation      
7.2 Observation      
7.2.1 Use of Observation  
    7.2.2 Observer Subject Relationship        
    7.2.3 Observation Design
a) Content of Observation
b) Rewarding Observation
c) Increasing the Reliability of Observation
d) Relation of Observe and Observed

Unit-8: Data Analysis
8.1 Elements of Analysis  
8.1.1 Data Preparation            
8.1.2 Data Problems            
8.1.3 Tabulation            
8.1.4 Data presentation and Data Reduction   8.1.5 Data Analysis          
Unit-9: Report Writing
9.1 Research Proposal/ Synopsis Preparation
9.2 Types of Research Report
9.3 Formats of Research Report
9.4 Writing the Report
Recommended Books:
Cooper, D. R., & Schindler, P. S. (2010). Business Research Methods (11th ed.). New York: McGraw-Hill/Irwin.
Bryman, A., & Bell, E. (2011). Business Research Methods (3rd ed.). USA: Oxford University Press.
Sekaran, U., & Bougie, R. (2010).  Research Methods for Business: A Skill Building Approach (5th ed.). USA: Wiley.
Goode, W. J., & Hatt, P. K. (2008). Methods in Social Research. The University of Michigan: McGraw-Hill.

Business Mathematics and Statistics MBA 523

ALLAMA IQBAL OPEN UNIVERSITY ISLAMABAD
(Department of Business Administration)
BUSINESS MATHEMATICS & STATISTICS (MBA-523)
CHECKLIST
SEMESTER: AUTUMN 2012
This packet comprises the following material:
1. Text Book (two)
2. Supplementary material on Business Mathematics
3. Course Outline
4. Assignment No 1 & 2
5. Assignment Forms (2 sets)
If you find anything missing out of the above-mentioned material, please contact at the address given below:
Mailing Officer
Mailing Section, Block-28
Allama Iqbal Open University
H-8, ISLAMABAD.
Phone: 051-9057611-12
Tanvir Ahmed
Course Coordinator
 ALLAMA IQBAL OPEN UNIVERSITY, ISLAMABAD
(Department of Business Administration)
WARNING
1. PLAGIARISM OR HIRING OF GHOST WRITER(S) FOR SOLVING THE ASSIGNMENT(S) WILL DEBAR THE STUDENT FROM AWARD OF DEGREE/CERTIFICATE, IF FOUND AT ANY STAGE.
2. SUBMITTING ASSIGNMENTS BORROWED OR STOLEN FROM OTHER(S) AS ONE’S OWN WILL BE PENALIZED AS DEFINED IN “AIOU PLAGIARISM POLICY”.
ASSIGNMENT No. 1
Course:  Business Mathematics & Statistics (523)    Semester: Autumn 2012
Level:  MBA (2½ Years)  /  MBA (3 ½ Years) Total Marks: 100
Pass Marks: 50
Note: All questions carry equal marks.

Q. 1 (a) Given the following data sets:
Class       10-19     20-29 30-39    40-49 50-59
Class Frequency       15        12     8        5     2
1. Represent the data with the help of histogram
2. Calculate mean and median
3. Calculate standard deviation (10)    

(b) The Vice President of sales for the conglomerate you work for has asked you to evaluate the sales records of two of the firm’s divisions.  You note that the range of monthly sales for division A over the last 2 years is Rs.50,000 and the range of division B is only Rs.30,000. You compute each division’s mean monthly sales for the same time period and discover that both divisions have a mean of Rs. 110,000. Assume that is all the information you have about the division’s sales records.  Would you be willing to say which of the divisions has a more consistent sales record? Why or why not? (10)

Q. 2 (a) Assume that the length of time, x, between charges of a pocket calculator is normally distributed with a mean of 50 hours and a standard deviation of 15 hours. Find the probability that the calculator will last between 30 and 70 hours between charges. (10)

(b) A machine that produces stampings for automobile engines is malfunctioning and producing 10% defectives. The defective and non-defective stampings proceed from the machine in a random manner. If the next five stampings are tested, find the probability that three of them are defective. (10)

Q. 3 A soft drink machine is being regulated so that the amount of drink dispensed averages 240 milliliters with standard deviation of 15 milliliters. Periodically, the machine is checked by taking a sample of 40 drinks and computing the average content. If the mean of 40 drinks is a value within the interval x + 2 x, the machine is thought to be operating satisfactorily, otherwise adjustment is made. The company officials found that the mean of 40 drinks be 236 milliliters and concluded that the machine needed no adjustment. Was this a reasonable decision? Justify your answer. (20)

Q. 4 A company purchases large quantities of naphtha in 50-gallon drums. Because the purchases are ongoing, small shortages in the drums can represent a sizeable loss to the company. The weights of the drums vary slightly from drum to drum, so the weight of the naphtha is measured after removing it from the drums. Suppose the company samples the contents of 20 drums, measures the naphtha in each, and calculates mean 49.7 gallons and standard deviation 0.32 gallons. Do the sample statistics provide sufficient evidence to indicate that the mean fill per 50-gallon drum is less than 50 gallons? Use  = 0.10. (20)

Q. 5 (a) A research physician conducted an experiment to investigate the effects of various cold-water temperatures on the pulse rate of small children. The data for seven 6-year-old children are:
Child: 1 2 3 4 5 6 7
Temperature of water (oF): 68 65 70 62 60 55 58
Decrease in pulse rate: 2 5 1 10 9 13 10
(beats per minute)
1. Find the least squares line for the data
2. Plot the data and the fitted line (10)

(b) Explain the difference between regression and correlation problems. Can a correlation problem also be a regression problem? (10)

ASSIGNMENT No. 2
(Total Marks: 100)

This assignment is a research-oriented activity. You are required to select one of the following topics according to the last digit of your roll number. For example, if your roll number is D-3427185 then you will select topic number 5 (the last digit). Visit any business/commercial organization and write a paper of about 1000 words on the topic allotted to you. Prepare two copies of this report; submit one copy to your tutor for evaluation and use other for presentation in the workshop, which will be held at the end of semester prior to your final examination.
(1) Probability and their Application in Business
(2)      Prediction and Regression
(3)      System of Equations
(4)      Measures of Relationship
(5)      Sampling Methods and Techniques in Business Statistics
(6)      Time Series Analysis  
(7)      Estimation and Hypothesis Testing
(8)      Analysis of Variance
(9)      Differentiation and their Application in Business.
(10)    Integration

BUSINESS MATHEMATICS AND STATISTICS
COURSE OUTLINE (MBA-523)
Course:  Business Mathematics & Statistics Course Code: 523
Level:  MBA Credit Hours: 03

UNIT–1 DESCRIPTIVE STATISTICS
 Introduction to Statistics
 Role of Statistics in Business
 Constructing a Frequency Distribution
 Graphing Frequency Distribution
 Measures of Central Tendency
 Choosing Measures of Central Tendency
 Percentiles, Deciles and Quartiles
 Measures of Dispersion
 Range and Semi-Interquartile Range
 Variance, Standard Deviation
 Coefficient of Variation
 Chebyshev’s Inequality

UNIT –2 PROBABILITY
 Sample Spaces and Events
 Definitions of Probability
 Addition and Multiplication Rules of Probability
 Conditional Probability
 Baye’s Theorem
 Probability Distribution
 Discrete Probability Distribution
 Expected Values and Variance
 Continuous Probability Distribution
 The Binomial Distribution
 The Poisson Distribution
 Hypergeometric Distribution
 The Normal Distribution

UNIT –3 SAMPLING AND SAMPLING DISTRIBUTION
 Population and Sample
 Parameters and Estimators
 Reasons for Sampling
 Random Sampling
 Stratifies Random Sampling
 Systematic Sampling
 Cluster Sampling
 Sampling Distributions
 Point and Interval Estimation
 Determination of Sample Size

UNIT–4 TESTING OF HYPOTHESIS
 The rationale of Hypothesis Testing
 Type of Errors
 Testing Hypothesis about One Mean
 Testing Hypothesis about Two Means
 Testing Hypothesis about Proportions
 Goodness of Fit
 Contingency Table Analysis

UNIT–5 REGRESSION AND CORRELATION ANALYSIS
 The Functional Relationship between Two Variables
 Scatter Diagram
 Linear Correlation
 Inferences Concerning Correlation Coefficient
 The Linear Regression Equation
 The Principle of Least Squares
 Estimating Regression Equation
 Coefficient of Determination
 Multiple Regression and Correlation Analysis

UNIT–6 TIME SEREIS AND INDEX NUMBERS
 Introduction to Time Series
 Components of Time Series
 Measures of Trend and Seasonal Variation
 Time Series Analysis in Forecasting
 Defining and Index Number
 Unweighted Aggregate Index
 Price, Quantity and Value Indices
 CPI and its Uses

UNIT–7 SET THEORY AND SYSTEM OF LINEAR EQUATIONS
 Set Theory, Types of sets
 Methods of Representing sets
 Venn Diagram
 Solution of Linear Systems
 System of Linear Equations and its Applications
 Linear Inequalities
 Quadratic Inequalities

UNIT–8 METRICES
 Introduction to Matrix
 Addition and Multiplication of Matrices
 Row Operations
 Determinant
 Inverse of a Matrix
 Systems of m Equations in n Unknowns
 Applications of Matrices in Business

UNIT–9 DIFFERENTIATION AND INTEGRATION
 The Instantaneous Rate of Change
 Rules of Differentiation
 Relative Maxima and Relative Minima
 Test for Determination of Maxima and Minima
 The Indefinite Integral
 The Definite Integral
 Methods of Integration
 Application in Business

Recommended Books:
1. Richard I. Levin and David S. Rubin, Statistics for management 7th Ed. USA: Prentice Hall International Inc.
2. Mason, R.D and Lind, D.A Statistical Techniques in Business and Economics, 10th Ed. Richard D. Irwin.
3. Wheeler/Peeples, Modern mathematics 4th Ed. USA: Brooks/Code Pub Co.
4. Budnick, F. S. Applied Mathematics for Business, Eco. And the Social Sc. 4th Ed. McGraw-Hill Inc.

FIA Islamabad Pakistan Jobs Announced Today

INVESTMENT AND SECURITIES MANAGEMENT Code 8715

Course: Investment and Securities Management (8715) Semester: Autumn, 2012
Level: MS (Management Sciences) Total Marks: 100
Pass Marks: 50
ASSIGNMENT No. 1

Note: All questions are compulsory.

Q. 1 Discuss in detail the nature and performance of investment firms functioning in Pakistan. (20)

Q. 2 (a) Discuss the scope of mutual funds in Pakistan. (12)
(b) Many people advocate mutual funds for small investors. They suggest that the best strategy for small investors is to buy shares in a good mutual fund and put them away. What do you think of this advice? (08)

Q. 3 The following are annual rates of return for U.S government T-bills and U.K. common stocks:
Year U.S. Government T-Bills U.K. Common Stock
2006 0.063 0.150
2007 0.081 0.043
2008 0.076 0.374
2009 0.090 0.192
2010 0.085 0.106
Required:
Compute the Arithmetic mean rate of return and the geometric mean rate of return for each of these investments. Compare the arithmetic mean return and geometric mean return for each investment. (20)

Q. 4 Discuss in detail the different kinds of risk associated with investments in Pakistan for the foreigners and locals institutional investors. (20)

Q. 5 As a bond investor, which investing in corporate bonds, which bonds strategy(ies) would you like to prefer in case of high fluctuations in the rate of interest in Pakistan? (20)
ASSIGNMENT No. 2
Total Marks: 100
Note: All questions are compulsory.

 Q. 1 (a) Describe why estimating the value for a bond is easier than estimating the value for common stock? (08)
(b) Give an example of and discuss a stock that has temporary, supernormal growth where it would be appropriate to use the modified dividend discount model (DDM). (12)

Q. 2 (a) Explain the main investment attractions of put and call options. (08)
(b) Discuss in detail the variables involved in estimating the value of a call option. Which variable do you think is the most important? (08)

Q. 3 “Convertible bonds are hybrid instruments that produce a non-linear distribution of returns.” Discuss the statement in detail. (20)

Q. 4 Select two financial institutions of your choice and analyze those companies using the technique of fundamental analysis. (20)

Q. 5 Select a financial institution and discuss its process of measuring portfolio performance for its generated investment portfolios. (20)



INVESTMENT AND SECURITIES MANAGEMENT
(COURSE OUTLINE–8715)

UNIT–1 BACKGROUND
1.1 Nature of Investment
1.2 Understanding Investment Process
1.3 Types of Securities Available Worldwide

UNIT–2 INVESTMENT ALTERNATIVES
1.1 Investment Companies and Its Types
1.2 Types of Mutual Funds
1.3 Investment company Performance
1.4 Future Prospects of Indirect Investing in Pakistan
1.5 Securities Markets and Its Types
1.6 Globalization of Securities Market in Pakistan

UNIT–3 TRADING OF SECURITIES AND RISK CONCEPTS
3.1 Trade of Securities
3.1.1 Brokerage Transactions
3.1.2 How Orders Work
3.1.3 Investor Protection in the Securities Markets
3.1.4 Short Sales
3.2 Return and Risk Concepts
3.2.1 Return
3.2.2 Measuring Returns and Risk
3.2.3 Estimating Returns and Risk
3.2.4 The Return-Risk Relationship
3.3 process of Securities Trading in Pakistan
3.4 Types of Risk Associated with Investment in Pakistan

UNIT–4 FIXED INCOME SECURITIES: ANALYSIS, VALUATION AND MANAGEMET
1.1 Bonds and Its Types
1.2 Bond Returns and Risks
1.3 Bond Prices and Yields
1.4 Bond: Analysis and Strategy
1.4.1 Reasons to Purchase Bonds
1.4.2 Important Consideration in Managing a Bond Portfolio
1.4.3 The Risk Structure of Interest Rates-Yield Spreads
1.5 Bond Strategies and Management in Pakistan

UNIT–5 COMMON STOCK: ANALYSIS, VALUATION AND MANAGEMENT
5.1 Concept of Common Stocks
5.2 Common Stock Market: Buying & Selling Stock
5.3 Common Stock Risks and Returns
5.4 Common Stock Valuation Techniques
5.5 Common Stock: Analysis and Strategy

UNIT–6 DERIVATIVE SECURITIES
6.1 Understanding Options
6.2 Some Basic Option Strategies
6.3 Option Valuation
6.4 An Investors Perspective on Puts and Calls
6.5 Stock Index Options and Interest Rate Options
6.6 Understanding Futures Market and Its Structure

UNIT–7 ADDITIONAL INVESTMENT OPPURTUNITIES & EFFICIENT MARKET
7.1 Warrants and Convertible Securities
7.1.1 Warrants and its Valuation
7.1.2 Speculative Value of a Warrant
7.1.3 Convertible Securities
7.1.4 Risk and Return on Convertibles
7.1.5 Convertible Preferred Stock
7.2 Market Efficiency
7.2.1 Concept of Efficient Market
7.2.2 Implication of Efficient Market Hypothesis
7.2.3 Evidence of Market Anomalies

UNIT–8 SECURITY ANALYSIS
8.1 Market Analysis
8.1.1 Understanding the Stock Market
8.1.2 Market Valuation
8.1.3 Forecasting Changes in the Market/Economy
8.2 Industry Analysis
8.3 Company Analysis
8.3.1 Fundamental Analysis
8.3.2 Additional Company Analysis
8.4 Technical Analysis

UNIT –9 INVESTMENT MANAGEMENT
9.1 Portfolio Management as a Process
9.2 Portfolio Selection
9.2.1 Use Markowitz Portfolio Selection Model
9.2.2 Consider Borrowing and Lending Possibilities
9.2.3 Choose the Final Portfolio Based on Preferences
9.2.4 Implication of Portfolio Selection
9.3 Capital Market
9.3.1 Assumption of CAPM
9.3.2 Market Portfolio
9.3.3 Estimating SML

Recommended Books:
Jones, C. P. (2006). Investment Analysis and Management (10th ed.). U.S.A.: Wiley John & Sons

Fischer, D. E. & Jordan, R. J. (2006). Security Analysis and Portfolio Management (6th ed.). New Delhi: Prentice-Hall of India Private Ltd.

Reilly, F. K. & Brown, K. C. (2005). Investment Analysis and Portfolio Management (8th ed.). Ohio, U.S.A.: South-Western College

RISK MANAGEMENT AND INSURANCE Code 8716

Course: Risk Management & Insurance (8716) Semester: Autumn, 2012
Level: MS (Management Sciences) Total Marks: 100
Pass Marks: 50
ASSIGNMENT No. 1
Note: All questions are compulsory.
Q. 1 a) Discuss various fundamental risks prevails in financial markets of Pakistan. (14)
b) Suggest some precautionary measures for minimizing risks mentioned in part (a). (06)
Q. 2 Discuss in detail why it is necessary for multi-national corporations functioning in Pakistan to do risk management. Also describe benefits of its risk management for the society of Pakistan. (20)
Q. 3 What would be the natural hazards that risk managers can face while assessing the risks in developing countries? How they can avoid such hazards? (20)
Q. 4 Describe the role of State Bank of Pakistan (SBP) in regulating financial services of public and private banking sector of Pakistan. (20)
Q. 5 Discuss in detail the role of insurance industry of Pakistan in its economic growth. (20)
ASSIGNMENT No. 2
Total Marks: 100
Note: All questions are compulsory.
 Q. 1 Select a private insurance company operating in Pakistan and discuss its operations in detail. (20)
Q. 2 Explain the financial impact of premature death on different types of families living in Pakistan. (20)
Q. 3 a) Describe the scope of health insurance worldwide. (10)
b) What kind of individual health insurance coverages the insurance industry of Pakistan is providing? Describe all in detail. (10)
Q. 4 Select an organization of your choice and discuss its application of retirement and benefit plans for its middle level employees. (20)
Q. 5 Discuss in detail the application of social insurance in Pakistan. (20)
RISK MANAGEMENT AND INSURANCE
(COURSE OUTLINE–8716)
UNIT–1 Risk and Insurance
1.1 Risk
1.1.1 Defining Risk
1.1.2 Categories of Risk Available in Pakistan
1.1.3 Burden of risk on Society
1.1.4 Methods of Handling Risk
1.2 Insurance
1.2.1 Insurance and Its Types
1.2.2 Comparing Insurance with Gambling and Speculation
1.2.3 Costs of Insurance to Societies in Pakistan
UNIT–2 Risk Management
2.1 Risk Management and Insurance Management
2.2 Risk Management and Economic Growth
2.3 Benefits of Risk Management to the Society
2.4 Environment for Risk Management Globally
2.5 Application of Risk Management Program in Pakistan
UNIT–3 Factors Shaping Risk Management Internationally
3.1 societal risk Assessment and Control
3.2 Role of Government in Societal Risk Management
3.3 Natural Hazards for Risk Assessment in Pakistan
3.4 Risk Assessment of Human Factors in Pakistan
3.5 Government’s role in Regulating Public & Private Sector Financial Services
3.6 Culture and Informal Risk Management Arrangements in Pakistan
UNIT–4 The Nature and Importance of Insurance
4.1 The Insurance Production Process
4.2 Overview of Insurance Worldwide
4.3 The International Dimensions of Insurance Worldwide
4.4 The Role of Insurance in Economic Growth of Pakistan
4.5 Determinants of Insurance Market Structure
UNIT–5 The Private Insurance Industry
5.1 Overview of Private Insurance in the Financial Services Industry
5.2 Types of Private Insurers in Pakistan
5.3 Operations of Insurance Company
5.4 Financial Operations of Insurers
5.4.1 Property and Casualty Insurers
5.4.2 Life Insurance Companies
5.4.3 Rate Making in Property and Casualty Insurance
5.4.4 Rate Making in Life Insurance
UNIT–6 Fundamentals of Life Insurance
6.1 Meaning and costs of Premature Death
6.2 Economic Justification of Life Insurance
6.3 Financial Impact of Premature Death on Different Types of Families in Pakistan
6.4 Amount of Life Insurance to Own
6.5 Methods for Providing Life Insurance Protection in Pakistan
6.6 Policies Sold by Life Insurance Companies in Pakistan
UNIT–7 Individual Health Insurance Coverages
7.1 Health-Care Problems in the World
7.2 Individual Health Insurance Coverages in Pakistan
7.3 Hopital-Surgical Insurance
7.4 Major Medical Insurance
7.5 Health Savings Accounts
7.6 Long-Term-Care Insurance
7.7 Disability-Income Insurance
7.8 Benefits of Health Insurance to Pakistan
UNIT–8 Employee Benefits
8.1 Employee Benefits: Group Life and Health Insurance
8.1.1 Group Insurance
8.1.2 Group Life Insurance Plans
8.1.3 Group Health Insurance Plans
8.1.4 Managed Care Plans
8.2 Employee Benefits: Retirements Plans
3.2.1 Fundamentals of Private Retirement Plans
3.2.2 Types of qualified Retirement Plans
3.2.3 Retirement Plans for the Self-Employed
3.2.4 Simplified Employee Pension (SEP)
8.3 Application of Employee Benefits Plans in Pakistan
UNIT –9 Social Insurance
9.1 Social Insurance and its characteristics
9.2 Benefits of Social Insurance to Society
9.3 Unemployment Insurance
9.4 Workers Compensation
9.5 Application of Social Insurance in Pakistan
Recommended Books:
Rejda, G. E. (2005). Principles of Risk Management and Insurance (9th ed.). New Delhi, India: Dorling Kindersley Ltd.
Vaughan, E. J. & Vaughan, T. (2003). Fundamentals of Risk and Insurance (9th ed.). New York, U.S.A.: Wiley John & Sons
Skipper, H. D. & Kwon, W.J. (2007). Risk Management and Insurance: Perspectives in a Global Economy. Oxford, U. K.: Blackwell Publishing

Islamic Banking Code 8718 - AIOU Assignment

Course:  Islamic Banking (8718) Semester: Autumn, 2012
Level:  MS (Management Sciences) Total Marks: 100
ASSIGNMENT No. 1
Note: All questions carry equal marks.
Q. 1 Explain Islamic finance system in detail. Critically discuss the structure of Islamic finance system in Pakistan. Do you satisfy with this structure or not. Give your arguments with examples in both cases.
Q. 2 Define riba. Explore the causes to prohibit riba in the Islamic system.
Q. 3 Explain the nature of working capital and its importance in Islamic finance. Discuss the issues and practices of working capital financing in view of Islamic banking in Pakistan.
Q. 4 Discuss the various types of modes of Islamic financing. Also discuss why they are better than conventional banking? Give your arguments with examples.
Q. 5 Compare the capitalist and socialist economies with Islamic economic system with examples. Why Islamic economic system is better in your view? Give your arguments with examples in the light of Quran and Sunnah.
ASSIGNMENT No. 2
Total Marks: 100
Note: All questions carry equal marks.
Q. 1 Explain the nature of Murabaha. Evaluate the Murabaha system operated in Pakistan in detail. Give your suggestions for improvements in the light of Quran and Sunnah.
Q. 2 Define Slam. Discuss the mechanism of salam and its operational procedure in Islamic banking system in Pakistan.
Q. 3 Define Ijarah. Discuss the operational and termination process of Ijarah in care financing as per practice adopted by the commercial banks under Islamic banking system.
Q. 4 Define equity system in Islamic finance. Evaluate the impact of equity funds system on economy and individual investor in Pakistan.
Q. 5 Define takaful. Critically evaluate the operational process of takaful in Pakistan. Give your suggestions for improvements in the light of Quran and Sunnah.
ALLAMA IQBAL OPEN UNIVERSITY, ISLAMABAD
(Department of Business Administration)
Course:  Islamic Banking (8718) Semester: Autumn, 2012
Level:  MS (Management Sciences) Total Marks: 100
Unit No. 1 History and Development of Islamic Banking System
1.1 The Structure of financial System in Pakistan
1.2 Development of Islamic Banking System in Pakistan (Islamic Finance Movements in Pakistan)
1.3 Problems Issues and Challenges in Pakistan
Unit No. 2 Salient Features of Islamic Financial System
2.1 Basic Difference Between Capitalist and Islamic Economy
2.2 Philosophical basis of Islamic Economics and Finance
2.3 Riba in Quran and Sunnah
2.4 Rational for Prohibition of Interest
Unit No. 3 Riba Put on Trial
3.1 In the Federal Shariat Court of Pakistan-Jurisdiction of FSC, Bar on the Jurisdiction, Petitions and Defiance, Arguments Against and for Interest, The Judgement, Implications of the FSC Judgement, List of Laws Held by the FSC Repugnant to the Shariah
Unit No. 4 Islamic Modes of Financing-I
4.1 Alternatives to Interst-Qard-e-Hasana and Service charge in Pakistan
4.2 Mushrakah and Mudarabah rules in Pakistan
4.3 Financing of a Single Transaction, Financing of Working Capital in Pakistan
Unit No. 5 Islamic Modes of Financing-II
5.1 Bai Muajjal (Sale on Deferred payment Basis) System in Pakistan
5.2 Issues Involved in Murabaha, Different Pricing for Cash and Credit Sales, Basic Mistakes in Murabaha Financing in Pakistan
Unit No. 6 Islamic Modes of Financing-III
6.1 Ijarah: Basic Rules and Securitization in Pakistan
6.2 Variable Rentals in Long Term Leases in Pakistan
6.3 Residual Value of Leased Asset in Pakistan
Unit No. 7 Islamic Modes of Financing-IV
7.1 Salam and Istisna Practice in Pakistan
7.2 Time of Delivery Management in Islamic Banks Regulated in Pakistan
Unit No. 8 Islamic Investment Funds
8.1 Principles of shariah governing Islamic Investment Funds system in Pakistan
8.2 Equity funds, Ijarah Fund, Commodity Fund in Pakistan
8.3 Murabaha fund, Bai-al-Dain and Mixed Fund in Pakistan
8.4 Conditions for Investment in Shares practice in Pakistan
8.5 Principle if Limited Liability, Waqf, Baitul-Mal, Joint Stock, Inheritance Under Debt as per sharia principles and SBP guidelines
Unit No. 9 Operational Guidelines
Proposed Structure of Banks-Reshaping Banking Operations, Deposit-Fund Raising, Deposit Tkaful corporation, Establishment of Islamic Fund in the Banks in Pakistan
9.1 Arbitration and Penalty Clause in the Islamic Banking System of Pakistan
9.2 Islamic Banking Services operations in Pakistan
9.3 Risk Management by Islamic Banks regulations in Pakistan
9.4 Regulatory Issues in Islamic Financial System in Pakistan
Recommended Books:
Usmani Taqi Muhammad (2010) Islamic Finance. Karachi. Daarual Ishaat.
Ayub Muhammad (2010) Islamic Banking and Finance: Theory and Practice. Karachi. State Bank of Pakistan
Rahman A. Yahia (2010) The Art of Islamic Banking and Finance: Tools and Techniques for Community-Based Banking. John Wiley and Sons
Jaffer Sohail (2009) Islamic Retail Banking and Finance: Global Challenges and Opportunities. Euromoney Books