ࡱ>       Nbjbj tNl4УУУУl<t|~~~~~~$q <V||b @ CУZ@< 0~ Tl@INTRODUCTION Mr. Y. Reddy, the Governor of Reserve Bank of India while inaugurating an International Conference on Financial education has stated Present day school pass outs need to be lot more financially literate than their parents were. Financial Education can make a difference not only in the quality of life that individuals can afford but also the integrity and quality of markets. In U. K. and U. S. A. the financial education starts from Class VI onwards. The CBSE is taking a revolutionary step by introducing Professional Competency Education or Occupation Oriented Education in Financial Markets for the first time in India at 10+2 level. India is one of the best emerging market in the world with 2 crores investors. The Bombay Stock Exchanges (BSE) Sensex and National Stock Exchange (NSE) appreciated by 73.7 per cent and 67.1 per cent respectively over March 31, 2005. The Market capitalization of NSE and BSE are Rs. 2,777,401 crores and Rs. 2,993,779 crores respectively. The market capitalization to GDP ratio was 85.6% as on 31 March 2006. Public at large has shown tremendous faith in the mutual funds. In 2005-06. The mutual funds industry mobilized highest ever amount of Rs. 52,779 crores. The total money under the mutual funds management is Rs. 307,107 crores. The Number of brokers and sub brokers registered with SEBI are 9335. A large number of Foreign Institutional Investors (FIIs) are investing heavily in India and the investment amount was Rs. 48,801 crores in 2006. The total number of FIIs registered with Securities Exchange Board of India (SEBI) are 882. There is huge employment potential in Financial Market. As per industry estimates there is shortage of more than 50,000 professionals in stock and commodity markets. This shortage is projected as one lakh by 2008-09. The BPO (Business Process Outsourcing) Industry is slated to touch revenues of Rs. 155604 crores by the end of 2006 as per NASSCOM. The total direct employment in the Indian IT-ITES sector is estimated to have grown by over a million, from 284,000 in FY 1999-2000 to a projected 1,287,000 in the current fiscal (2005-06). In addition to nearly 1.3 million strong workforce employed directly in the industry, Indian IT-ITES is estimated to have helped create an additional 3 million job opportunities through indirect and induced employment. Therefore, in ITES (BPO) alone there is acute shortage of trained manpower, coupled with high degree of attrition. Computerized accounting and finance in organized and unorganized sectors is another area of employment for the youth. Honble Prime Minister of India Dr. Manmohan Singh announced on the Independence day that the Scheme of Vocational Education and Training will be implemented in a mission mode to provide employment to a large number of youth in the county. India being young nation, around 28 million youth arte added every years looking for employment. To fulfill the training needs of the huge target groups, emerging employment opportunities in various sectors of economy need to be explored. At this juncture, it is more appropriate for developing course on Financial Market Management under professional Competency Education where much emphasis is given for Competency Based Curriculum, Competency Based Training and Competency Based Assessment and Competency Based industry joint certification with NSE. The curriculum would be revised periodically as per the changes of the market demand. The CBSE has appointed a Curriculum Development Committee under the chairmanship of Shri. G. C. Sharma, Director, BLB Institute of Financial Markets (an Education arm of BLB Group) as a representative of ASSOCHAM. PSS Central Institute of Vocational Education, NCERT has provided all necessary support for development of curriculum and other teaching learning material for the course. It is hoped that the present curriculum would help a large number of youth to acquire employable skills and to enter world of work for their decent livelihoods and for economic growth of the country. 2. EMPLOYMENT OPPORTUNITIES Trading Dealer, Cash and Futures Market Arbitrageurs, Cash and Futures Market Marketing Executive, Client Acquisition Executive, Client Conversion and Retention Sales executive Management Trainees Customer Care, E-broking Telemarketers / Telecallers Executive, Market Research Back-Office Accounting and Finance executive Executive, Depository Participant Executive, payment collection Executive Investors grievance IT Executive, finance technology Executive, web developer FINANCE AND AUDIT COMPANIES Account Manager Commercial Assistant Junior Accounts Executive Finance Coordinator Taxation Assistant Accounts & Finance Executive Assistant in Trust companies and other financial institutions Computer Operator in Financial and other companies BPO SECTOR Process Associates / Customer Care Executives in: In bound and out bound call enters Back office transaction processing Processing of credit cards, Insurance claims Home / mortgage loans Credit collections and receivables General and business transcription Conference / earning calls proceedings Image based data processing Banking based transaction processing 3. OBJECTIVES OF THE COURSE The main objective of the course is to develop professional competency and employable skills in Financial Market Management. The specific objectives are: To develop employable skill in Financial Markets To develop employable skills in Financial Accounting To develop employable skills in BPO To develop employable Computer Applications skills for Financial Organisations To develop financial and investment capabilities (at early stage of career) 123456Sl. NoSubjectPeriod/WeekExaminationTotal MarksCBSE-Industry Joint CertificationTh.Pr.TotalMarks (Th)HrsMarks (Pr)Hrs1.Language I7-71003--1002Language II OR Economics (030) OR Business Studies (054) OR Entrepreneurship (066)8-81003--1003i. Accounting for Business I6410603402100ii. Introduction to Financial Market I6410603402100Compulsory NSE Online Certification on Financial Markets: A Beginners Module to be passed during summer vacation between XI and XII classiii. Computer Application in Financial Markets -I4610402603100Additional (Optional)Mutual Fund OR10-101003--100Any one of the Subject from academic electives except the subject selected in serial no. 28-81003--1004Physical and Health Education2-2-----5Library1-1-----4. SCHEME OF STUDIES Class XI (Financial Market Management) Note: Subject at Sl. No. 1, 2 and 4 are as per Academic Stream. Senior School Curriculum of the concerned year should be referred to for the courses in respect of said subjects. Class XII (Financial Market Management) 123456Sl. NoSubjectPeriod/WeekExaminationTotal MarksCBSE-Industry Joint CertificationTh.Pr.TotalMarks (Th)HrsMarks (Pr)Hrs1.Language I7-71003--1002Language II OR Economics (030) OR Business Studies (054) OR Entrepreneurship (066)8-81003--1003i. Accounting for Business II6410603402100ii. Introduction to Financial Markets II6410603402100Compulsory NSE Online Certification on Financial Markets: A Beginners Module to be passed during summer vacation between XI and XII classiii. Business Process Outsourcing Skills6410603402100Additional (Optional)Commodities Market OR6 410602403100Any one of the Subject from academic electives except the subject selected in serial no. 28-81003--1004Physical and Health Education2-2-----5Library1-1----- Note: Subject at Sl. No. 1, 2 and 4 are as per Academic Stream. Senior School Curriculum of the concerned year should be referred to for the courses in respect of said subject. 5. SYLLABUS CLASS XI PAPER I ACCOUNTING FOR BUSINESS I TOTAL MARKS 100 (THEORY 60 + PRACTICAL 40) THEORY MARKS: 60 1. Accounting 05 Marks (12 periods) Meaning and types Basic Terms: (a) Financial transaction, voucher (b) Capital (c) Assets (d) Liability, (e) Revenue, (f) Debtors, (g) Creditors, (h) Expenditure, Profit, Goods, Purchase Sales Stock Depreciation. Users of Accounting Information Generally Accepted Accounting Principles (GAAP) Concepts and conventions Separate Entity Concept, Going Concern, Money Measurement, Accounting Period. Revenue Recognition, Matching, full disclosure, Dual Aspect, Conservatism, Accrual Classification of Accounts Rules of Debit and Credit. 2. Recording of Transaction 10 Marks (24 Periods) i) Books of original Entry meaning, format and entries (a) Journal: (b) Cash Book single, Double and Three Column, (c) Petty Cash Book; (d) Day Books purchases, sales, purchases returns & sales returns. ii) (a) Ledger meaning, utility and format; (b) classification of ledger accounts (c) Posting from journal, Cash Book and Day Books (d) Balancing of Accounts. 3. Banking 10 Marks (24 Periods) i) Meaning & importance ii) Types of Banks Role and Functions of a bank Deposit Accounts: Meaning & Types Loan Accounts: Meaning & Types Bank Reconciliation Statement (a) Meaning and need (b) Format (c) Preparations with rectifies Cash Book Balance 4. Vouchers and their Preparations 05 Marks (12 Periods) a) Meaning and importance (b) Different types of vouchers cash voucher, debit voucher, credit voucher, transfer voucher, adjustment voucher etc. 5. Trial Balance and Errors 10 Marks (24 Periods) i) Meaning and Objectives ii) Preparation of Trial Balance Errors : (a) Errors of omission (b) Errors of commission; (c) Errors of principle and (d) Compensating errors Rectification of errors Suspense account meaning, utility preparation and disposal 6. End of period Accounts: Sole Trader 10 Marks (24 Periods) i) Trading, Profit & Loss A/c and a Balance Sheet with simple adjustments like expenses outstanding, income accrued depreciation. Provision for Bad & Doubtful Debt, Closing stock. 7. Taxation Direct Tax & Indirect Tax 10 Marks (24 Periods) i) Direct: various terms used in Income Tax Previous year, assessment year, financial year, accounting year, residential status. ii) Indirect: (Introduction only) Sales Tax, Value Added Tax (VAT), Central Sales Tax (CST), Excise, Service Tax, Fringe Benefit Tax (FBT), Banking Transaction Tax (BTT), Cenvat Credit etc PRACTICAL MARKS: 40 1. Go to nearby bank branch and collect and fill the following forms and submit 05 Marks (12 Periods) a. Account opening forms b. Pay-in-slips for depositing cash, DD, and Cheques c. DD requisition slips Collect income tax form and practice in filling the forms 10 Marks (24 Periods) Take 10 business transactions from a small business office pertaining to cash and prepare a cash book; single column & two Cash Book with Bank columns 5 Marks (12 periods) Prepare different types of 15 vouchers on the basis of a practical set of given transactions. 5 Marks (12 periods) Practice in Recording of financial transactions in different subsidiary books, ledger posting, ledger balancing, preparation of trial balance and final accounts (Approximately 30 transactions may be given for this purpose) 10 Marks (24 periods) Prepare of Bank Reconciliation statement on the basis of the information given in the cash book and pass book. 5 Marks (12 periods) CLASS XI PAPER II INTRODUCTION TO FINANCIAL MARKETS I (TOTAL MARKS 100) (THEORY 60 + PRACTICAL 40) THEORY 60 MARKS 1. Markets and Financial Instruments 15 Marks (36 periods) Types of Markets: Equity, debt, derivatives, commodities, meaning and features of private, public companies; types of investment avenues: Fixed Deposits, Bank Deposits, Provident Fund, Life Insurance, Post Office Savings, Small savings, Gold, Mutual Funds, Equity Share, Debentures / Bonds. 2. Primary Market 7 Marks (17 Periods) Initial Public Offer (IPO), Book Building through Online IPO, Eligibility to issue securities, Pricing of Issues, Fixed versus Book Building issues, ADRs/GDRs, Allotment of Shares, Basis of Allotment, Private Placement. 3. Secondary Market 20 Marks (48 Periods) Role and Functions of : Securities and Exchange Board of India (SEBI), Depositories, Stock Exchanges, Stock Price Indices, Brokers, Sub-brokers, Foreign Institutional Investors (FIIs), Portfolio Managers, Custodians, Share Transfer Agents, Know Your Client, Member Constituent Agreement, Merchant Bankers, Bankers to an Issue, Debenture Trustees, Underwriters, Credit Rating Agencies, Listing, Membership. Screen based trading, Client Code, Contract Note, Price-time priority, Price Bands, clearing and Settlement, Rolling Settlement, Settlement Guarantee Fund (SGF), Margins, Investor Protection Fund (IPF), Dos and Donts for investors. 4. Financial Statement Analysis 8 Marks (19 Periods) Balance Sheet, Profit & Loss Account, Stock Market Related Rations Simple analysis before investing in the shares: sources of information, understanding Annual Report, Directors report etc. 5. Commodities Markets Introduction 10 Marks (24 Periods) Introduction to Commodities Markets. Agriculture Commodities Cotton, Crude, palm oil, RBD Palmolein, Soy Oil, Rapeseed Oil, Soybean and Rapeseed. Precious Metals Gold, Silver. PRACTICAL 40 MARKS Features of the NEAT 5 Marks (12 Periods) Key Functions Buy, Sell, Order Modification (OM) & Order Cancellation (OC) Use of Tab, Enter and Control Keys 15 Marks (36 Periods) Speed, Accuracy in Buying, Selling, OM & OC Proficiency on Numeric Key Pad 15 Marks (36 Periods) Numerals Layout Finger Set Up Speed Number Typing Basic skills in Trading Systems 5 Marks (12 Periods) BSE Trading System : Bombay Online Trading System (BOLT) NSE Trading System : National Exchange For Automated Trading (NEAT) Open Dealer Integrated Network Trading system (ODIN) CLASS XI PAPER III COMPUTER APPLICATIONS IN FINANCIAL MARKETS (TOTAL MARKS 100) (THEORY 40 + PRACTICAL 60) THEORY 40 MARKS COMPUTER HARDWARE 2 MARKS (04 PERIODS) Personal Computers Identification / demonstration of different storage devices like floppy disk & floppy disk drive, Pen Drive, CD & CD-drive, DVD Drive, Hard Disk HDD, Storing & retrieving data from various Storage Devices, Identification of various input & output devices. Different types of printer Dot Matrix, Inkjet / Deskjet / Bubblejet, Laser printer. Introduction to troubleshooting of Personal Computers with reference to connectivity (Firewire Port, USB, Parallel Port, Serial Port, PS2, Keyboard Port, Monitor Socket, Speaker/Microphone Socket) for connecting devices such as Keyboard, Mouse, Monitor, Scanner, Printer, Speaker, Microphone, Pen Drive and Web Cam; Setting of basic properties of Monitor and Printer. WINDOWS OPERATING SYSTEM 4 MARKS (09 PERIODS) Introduction to Windows: Logging on, switching between accounts, Accounts arent just for networks, Assigning and changing account passwords, shutting down minimizing windows, enlarging windows, manually changing window sizes, moving windows, closing a window, a windows menu, a windows toolbar, taskbar & Start button functions and review. Working with Windows: Looking at My Computer window, working in the My Computer window, other start menu windows, navigating and using Windows Explorer and Control Panel. Installing Program with Windows: Using the Add or Remove Programs windows, customizing Windows XP, installing and uninstalling applications. OFFICE 8 MARKS (18 PERIODS) Introduction to Office: Introducing Word, Excel, PowerPoint, Outlook. Optimizing office shortcut bar, the office assistant, sharing information, the web toolbar. WORD 1 Processing with Word: Beginning with Word, Entering text, selecting text, deleting text, copying, cutting and pasting text, finding and replacing text with basic and advanced options, auto correcting and auto formatting, correcting mistakes, spelling and grammar corrections. 2 Formatting with Word: Simple character formatting changing fonts and colors of text, Inserting numbers and bullets, paragraph formatting center align, left align, right align and justify text, tab setting, setting indentation and spacing, the ruler; setting page margins, Inserting line and page breaks, Formatting with styles, using format painter, previewing document before print. 2 Managing documents and customizing Word: Document properties, using words advanced proofreaders using the spell checker, using automatic hyphenation, using the thesaurus. Simple transaction, customize features and options settings. 1 Advanced Word Features: Inserting special characters, inserting dates and page numbers, inserting pictures, inserting scanned and digital camera images, creating and using auto text entries, adding tables to documents creating a new table, traversing the table, Inserting new columns and rows, drawing tables freehand. Using header and footer options, adding footnotes and endnotes. 2 EXCEL 15 MARKS (32 PERIODS) Excel: Overview: Starting with Excel, understanding worksheets / spreadsheet and workbooks, entering worksheet data entering text, entering numbers and formulas, entering dates and times. Navigating between spreadsheets. Opening a Workbook, Saving a workbook and printing a Worksheet / Workbook. 1 Editing Excel: Worksheets / Spreadsheets Selecting cells, editing cell contents. Inserting and deleting cells, Inserting and deleting rows and columns, working with worksheet ranges. Using Cut, copy and paste options, clearing data. 2 Using formulas and functions: Using arithmetic operators, using range names in formulas, using relative and absolute cell referencing, copying formulas. Using auto sum for efficiency, common functions sum (), average (), max () min (), count (), countif (), counta (). Using paste function. 6 Using Special Tools: Spell checking, auto correct worksheets, finding and replacing data, using autofill, adding comments. 1 Forrnatting worksheets: Center aligning, left aligning, right aligning and justifying cell content, row and column height, changing width and font. Making format changes. Auto formatting worksheets, modifying styles, additional formatting options special alignment, special cell borders, special cell shades, protecting cells. Conditional formatting, tab colors help separate worksheets. 2 Using Charts: Creating custom charts (graphs) choosing the chart type, selecting data for chart, modifying the chart. Making a quick, presentable and easily interpretable chart. 3 POWERPOINT 5 MARKS (11 PERIODS) PowerPoint Presentations: Understanding presentations and slides, creating a new presentation the auto content wizard and presentation design, creating presentations using design templates, 1 Editing and arranging presentations: Using the outline adding and importing new items, promoting and demoting elements. Using the slide sorter view, using the notes page view. Saving and printing. 2 PowerPoint advanced features: Modifying presentations, editing individual slides putting comments in your presentations, adding text and text boxes, moving and rotating text. Adding pictures. 1 Animating your presentations: Using Power Points slide show timed transitions, transition effects, setting up shows, rehearsing slide show. Voice narration, using action buttons, introducing animation scheme, customizing animation. 1 INTERNET SEARCH 2 MARKS (06 PERIODS) Finding information from the web using popular Internet search engines like Google, Yahoo, Rediff, Lycos, Indiatimes. EMAIL & OUTLOOK 2 MARKS (06 PERIODS) E-mails management: Opening e-mail accounts using popular sites offering free email services like Yahoo, Google, Rediffmail, Indiatimes, Hotmail etc., composing a message, formatting text, selecting the e-mail message format, add a signature, sending and receiving emails with / without attachment, reading email, replying to email, printing an email, deleting email, forwarding an email, creating folders/labels for archiving emails. 1 Introduction to Outlook: Setting up an email account, creating, viewing and sending emails, Organizing messages, Keeping contacts recording contacts, selecting and using contacts. 1 COMPUTER VIRUS 2 MARKS (06 PERIODS) Computer virus: Computer virus, computer virus versus biological virus. Virus classification boot sector virus, companion virus, e-mail virus, logic bomb, macro virus, cross site scripting virus, Worm and Trojan. Effects of computer virus, the vulnerability of operating systems to virus, protection from virus and use of popular anti virus software. 2 PRACTICAL MARKS 60 KEY BOARDING SKILLS 20 MARKS (40 PERIODS) Key boarding skills using Typing Tutor software minimum bench mark accurate typing speed of 40 words per minute. COMPUTER HARDWARE 2 MARKS (6 PERIODS) Computer Hardware - Identification of various peripherals / devices, checking the connectivity of a system with different peripherals / devices, switching on / off a system, demonstration / identification of different storage devices like floppy disk & floppy disk drive, CD & CD-Drive, Pen-Drive, DVD, Hard Disk HDD, storing & retrieving data from various storage devices, identification of various input & output devices. Printer operations inserting paper, setting up the printer, checking the cartridge / ribbon, mounting continuous stationary / inserting paper sheets and taking out prints. OPERATING SYSTEM WINDOWS 4 MARKS (12 PERIODS) Operating system: Windows Installation of Software, Starting a computer with Windows, controlling mouse pointer movement on screen, shutting down the computer, using start button, starting an application, starting multiple applications, starting and using Windows explorer, Viewing, copying, cutting, pasting the contents from / to different folders or disks, differentiating different types of file, starting an application using Windows explorer, finding a particular file, finding a group of files with different properties, renaming a file / folder, deleting a file / folder, renaming a group of files with particular properties, selecting and deleting a group of files, Creating a folder, formatting a disk, Defragmenting a disk, using scandisk, copy a disk to another disk, finding a file, using find utilities, making a file as hidden, compressing file (s), running a program using RUN option, creating shortcuts, setting desktops, setting screen saver, installing a printer. MS WORD 20 MARKS (40 PERIODS) MS-Word Starting MS-Word, creating a new document, opening an existing document, modifying a document, saving a document, viewing a document, editing text, formatting text, formatting a document, printing documents, minimize, maximize, import-export utilities. MS EXCEL 15 MARKS (35 PERIODS) MS-Excel - Starting MS-Excel, cursor movement & control, using different menus / options, entering data, using formulas & functions, making graphs & charts using data, navigating the worksheet, editing the worksheet, saving a workbook, linking worksheets & workbooks, presenting data using different graphs, diagrams, color and fonts, printing different types of graphs, diagrams, printing spreadsheets with proper formatting. MS POWERPOINT 5 MARKS (13 PERIODS) MS-PowerPoint Starting MS-Power Point, creating slides, editing slides, formatting slides using text, objects, clipart pictures, graphs, diagrams, integrating multimedia elements in various file formats, export-import utilities, designing & demonstrating own simple presentations, printing slides, creating self executable slide show file. EMAIL AND OUTLOOK 2 MARKS (04 PERIODS) Email and Outlook - Organizing messages, setting up an email account, creating and sending messages using popular email service like Google, Yahoo, Rediff, checking mail, keeping contacts recording contacts, selecting contacts. INTERNET SEARCH 2 MARKS (04 PERIODS) Finding information on the web using popular Internet search engines like Google, Yahoo, Rediff, Lycos, Indiatimes. CLASS XI OPTIONAL MUTUAL FUND TOTAL MARKS 100 1. CONCEPT AND ROLE OF MUTUAL FUNDS 8 MARKS (19 PERIODS) Section One The concept of a Mutual Fund; Advantages of Mutual Fund investing Portfolio Diversification, Professional Management, Reduction of Risk, Transaction Costs and Taxes, Liquidity and Convenience. Section Two Evolution of Mutual Funds in India Size of Industry, Growth Trends Role of Mutual Funds in Financial Markets Section Three Type pf Funds Open end Funds / Closed end Funds / Fixed Term Plans, Load Funds / No Load Funds, Tax Exempt / Non Tax Exempt Funds, Exchange Traded Funds, Fund and Funds. Money Market / Liquid Funds, Equity Funds, Debt Funds, Hybrid Funds, Commodity Funds, Real Estate Funds, Fund of Funds. Equity Funds Aggressive Growth Funds, Small Cap Funds, Growth Funds, Growth and Income Funds, Value Funds, Equity Income Funds, Equity Linked Saving Schemes, Index Funds, Sector Funds, Specialised Funds, Offshore Funds, Option Income Funds. Debt Funds Bond Funds, Government Securities Funds, Specialised Bond Funds Infrastructure / Real Estate, Mortgage Backed Securities Funds; High Yield Bond Funds; Offshore / Global Bond Funds / Country Funds, Assured Return Funds and Fixed Term Plans Hybrid Funds Balanced Funds, Growth & Income Funds, Asset Allocation Funds Commodity Funds Precious Metals / Gold Funds, Single versus Multi Commodity Funds 2. FUND STRUCTURE AND CONSTITUENTS 6 MARKS (14 PERIODS) Section One Legal Structure Closed end and Open end Funds Asset Management Company, Trustees / Trust Companies Legal Status of Fund Sponsors Rights and Responsibilities of the AMC Directors, Trustees (SEBI Companies Act) Fiduciary Nature of Relationship between Investor and Fund Legal Structure in the U. S. Investment Companies, Management Companies and Advisors Legal Structure in the U. K. Unit Trusts, Trustees Section Two Role, Functions, Rights and Responsibilities of Other Market Constituents Registrars, Bankers, Custodians, Depositories Marketing and Distribution Participants Individual Distributors, Banks, NBFCs, Stock Brokers, Sub-Brokers Section Three Fund mergers and Scheme Takeovers 3. LEGAL AND REGULATORY ENVIRONMENT 6 MARKS (15 PERIODS) Section One Role of regulators in India SEBI, RBI, Ministry of Finance, Stock Exchange, Registrar of Companies, CLB, DCA Section Two Regulation versus Self Regulation Role of AMFI, Investor Associations, Consumer Forums / Courts Section Three Rights and Obligations of the Investor 4. THE OFFER DOCUMENT 6 MARKS (19 PERIODS) Section One INTRODUCTION The Offer Document What it is, Importance, Contents, Regulation and Investors Rights Section Two Contents of the Offer Document Standard Offer Document for Mutual Funds (SEBI Format) Summary Information Glossary of Defined Terms Risk Disclosures Legal and Regulatory Compliance Expenses Condensed Financial Information of Scheme Constitution of the Mutual Fund Investment Objectives and Policies Management of the Fund Offer Related Information Section Three KEY INFORMATION MEMORANDUM 5. FUND DISTRIBUTION AND SALES PRACTICES 8 MARKS (19 PERIODS) Section One The Challenge of Distributing Mutual Funds Who Can Invest in MFs in India Section Two Distribution channels Role of Direct Marketing by Mutual Funds in India Broker / Sub Broker Arrangements Individual Agents, Brokers, Sub-Brokers, Banks, NBFCs Section Three Sales Practices 6. ACCOUNTING, VALUATION AND TAXATION 8 MARKS (19 PERIODS) In India, mutual funds are regulated by SEBI, which lays down the regulations for fund accounting and valuation of securities. The Income Tax Act, 1961 lays down the relevant tax provisions that govern mutual funds. This chapter outlines the major elements of mutual fund accounting, valuation and taxation norms as applicable to mutual funds in India. Section One Accounting SEBI Regulations on NAV Computation Pricing of Units Fees and Expenses Initial Issue Expenses Disclosures and Reporting Requirements Accounting Policies Section Two Valuation Marking to Market Equity Valuation Norms Listed, Unlisted, Untraded / Thinly treaded Debt Valuation Norms Listed, Unlisted, thinly traded / Illiquid Money Market Instruments Valuation Norms Non Performing Assets (NPA) Norms Section Three Taxation Taxation of Mutual Funds Taxation of Income and Gains in the Hands of Investors 7. INVESTOR SERVICES 6 MARKS (15 PERIODS) Section One Applying for or a account opening with Mutual Fund Application / Agreement, Provisions of the Agreement, Point of Receipt, Form of Payment, First Time versus Continuing Payments, Certificate vs. No Certificate Registering a mutual fund Account Individual, Joint, Corporate, Trusts, etc. Repurchase and redemption options Cut off Times for Submissions of Requests, Historical vs. Prospective NAVs Section Two Different investment plans and services by Mutual Funds- Accumulation Plans, Systematic Investment Plans, Automatic Reinvestment Plans, Retirement Plans, Switching Within a Family of Funds, voluntary Withdrawal Plans, Redeeming units. Services Performed by Mutual Funds Nomination Facilities, Phone Transactions / information, Check Writing, Pass Books, Periodic Statements and Tax Information Statutory, Others Loans Against Units. 8. INVESTMENT MANAGEMENT 8 MARKS (19 PERIODS) Section One Equity portfolio management How to identify which kind of Stocks to include Review of the Indian Equity Market Types of Equity Instruments Equity Classes Based on Market Capitalisation Based on Anticipated Earnings Approaches to Portfolio Management Passive: Index Funds Active: Growth and Value Investment Styles Role of Research in Equity Fund Management Successful Equity Portfolio Management Use of Equity Derivatives for Portfolio Risk Management Organization Structure of Equity Funds Section Two Debt Portfolio Management Classification of Debt Securities A Review of the Indian Debt Market Instruments in the Indian Debt Market Basic Characteristics of Debt Securities Measures of Bond Yields Current Yield, YTM, Yield Curve Risks in Investing in Bonds Credit Risk yield Spreads and Credit Ratings Interest Rate Risk Duration Debt Investment Strategies Interest Rates and Debt Portfolio Management Use of derivatives for Debt Portfolio Management Organization Structure of Debt Funds Section Three SEBI Investment Guidelines and Restrictions on Investment Portfolios Structure, Timing of Investments, Permissible Instruments 9. MEASURING AND EVALUATING MUTUAL FUND PERFORMANCE 8 MARKS (19 PERIODS) When an investor entrusts his savings to a mutual fund, naturally he hopes to increase his wealth by seeing the value of his investments grow. Having understood the conceptual and operating aspects of mutual funds, it is important to analyze the issue involved in the evaluation of fund performance. Section One Performance Measures Equity Funds NAV Growth, Total Return; Total Return with Reinvestment at NAV Annualized Returns and Distributions, Computing Total Return (Per Share Income and Expenses, Per Share Capital Changes, Ratios, Share Outstanding), the Expense Ratio, Portfolio turnover Rate, Fund Size, transaction Costs, Cash Flow, Leverage Debt Funds Peer Group Comparisons, The Income Ratio, Industry Exposures and Concentrations, NPAs, besides NAV Growth, Total Return, Expense Ratio Liquid Funds Fund Yield, besides NAV Growth, Total Return, Expenses Ratio Differences between Active versus Passive Fund performance, Equity vs. Debt Fund Performance Passive Funds Performance against Base Index, Tracking Error, Expenses Performance Measurement NAV change Analyzing fund Management Relative Importance of Factors: Total Return of Different Type of Funds Section Two Concept of Benchmarking for Performance Evaluation Performance Benchmarks in the Indian Context Active Equity Fund Performance against Market Indices as Benchmarks Debt Funds Interest Rates on Alternative Investments as Benchmarks, I-Bex Total Return Index, JPM T-Bill Index Post-Tax Returns on Bank Deposits versus Debt Funds Liquid Funds-Short Term government Instruments Interest Rates as Benchmarks, JPM T Bill Index Section Three Tracking a Fundss Performance Newspapers, Periodicals, Research Reports, Annual Reports, Prospectus, Reports from Tracking Agencies, Internet and Interpretation of Data 10. HELPING INVESTORS WITH FINANCIAL PLANNING 8 MARKS (19 PERIODS) Section One The Concept of Financial Planning for the Investor Financial Planning Definition and Scope Need for Professional Financial Planning Role of a Financial Planner Need for a Fund Distributor to become a Financial Planner Benefits of Financial Planning Qualities of a Good Financial Planner The financial Planning Process Common Mistakes in Financial Planning The Investor / Clients Responsibilities The Place of Mutual Funds in Financial Planning Section Two The Basis of Financial Planning Life Cycle Stages Childhood Young Unmarried Young Married Young Married with Children Married with Older Children Post-family / Pre-retirement Retirement The Basis of Financial Planning Wealth Cycle Stages The Accumulation Phase The Transition Phase The Distribution Phase The Inter-Generation Transfer Stage The Sudden Wealth State Planning for Affluent Investors 11. RECOMMENDING FINANCIAL PLANNING STRATEGIES TO INVESTORS 8 MARKS (19 PERIODS) Section One Financial Planning Strategies Investing for the Long Term Power of Compounding Strategies to Maximize Returns on Investment Buy and Hold, Rupee Cost Averaging, Value Averaging Investing Early, Investing Regularly, Cashing Out Section Two Asset Allocation Meaning and Principles Strategic and Tactical Asset Allocation Fixed versus Flexible Asset Allocation 12. SELECTING THE RIGHT INVESSTMENT PRODUCTS FOR INVESTORS 6 MARKS (14 PERIODS) Once the investor has been helped with a suitable Financial Plan, a Strategy and an appropriate Asset Allocation, the advisor ought to review all investment options available to the investor including the mutual funds. In one of the previous chapters, we discussed the importance of benchmarking fund performance relative to other investment products available in the market. This chapter describes the financial products available to investors in India and compares their investment potential relative to mutual funds. Section One Products available in India Shares, Bonds and Debentures, Bank and Company Deposits, Small Savings Instruments, PPF, Insurance, Gold, Real Estate and Mutual Funds Section Two Comparison based on Return, Safety, Liquidity, Convenience Investing through MFs versus Other Investment Products Comparison in terms of Investment objectives, Expected Returns and Potential Risks of Mutual Funds and Other Products Investor Perspective: Comparison in terms of Investor Objectives / Expectations, Risk Tolerance and Investment Horizon Direct Equity Investment versus Mutual Fund Investing Bank Deposits versus Income and Debt Funds 13. HELPING INVESTORS UNDERSTAND RISKS IN FUND INVESTING 4 MARKS (10 PERIODS) While reviewing mutual fund investing against other products, and while selecting the right funds, investors must be explained the risks that are inherent in fund investing and in different types of funds. Helping investors understand these risks is a major responsibility of the advisor. Section One Awareness of Risks in Mutual fund Investing Measures of Equity fund Risks Equity Fund Price Movements versus Market Index, Peer Group / Competitor Performance Comparison Measures of Debt Fund Risks Debt Fund Returns / Nominal and Real Interest Rates, Guaranteed Income or Assured Return Funds, Fund Volatility versus Index for Fixed Income Securities Impact of diversification on fund risk Profile Measures of Fund Risk Level: Sharpe and Treynor Ratios Attribution Analysis Measuring Portfolio Managers Skills Measurement of Risks Using the Prospectus, Annual and Quarterly Returns Types of Risk faced by Funds / Investors Credit Risk, Interest Rate Risk, Price Risk, Liquidity Risk; Company Risk, Sector Risk, Market Risk Risk Measurement Debt versus Equity not a Comparison Debt is for the Risk Averse Investor Risk Return Relationship, Optimization, and Optimal Risk Level for Varied Classes of Investors. 14. RECOMMENDING MODEL PORTFOLIOS AND SELECTING THE RIGHT FUNDS 4 MARKS (10 PERIODS) Once financial planning has been done, and the investment options reviewed, the financial planner needs to help the investor build a suitable portfolio of mutual funds and then select the right funds to attain the investment objectives of the investor. This chapter covers these important final steps in financial advisory activity. Section One Developing a Model Portfolio Developing an Investment Portfolio Suited to Investor Needs / Life Cycle Stages Developing an investment Portfolio Suited to Investor Needs / Wealth Cycle Stages Investment Options Equity Instruments, Fixed Income Securities, Quasi-Equity Instruments Convertible Debentures / Bonds, Warrants, etc., Taxable and Tax Exempt Funds Asset Allocation Section Two Helping the investor choose a Fund based on Selection Criteria Objective, Yield, Load, annual Total Return, Portfolio Diversification, Risk Level, Long Term Track Record, Services Provided and Management Expertise Costs of Ownership Management Fees, Share Transfer Agent Fees, Custodian Fees, Redemption Fees, Switching Fees, Maintenance Fees Distribution Costs and Commissions Payable Front End Loads, Ongoing Sales and Service Charges, Contingent Deferred Sales Charges, Other Fees Agents commissions, Rebates to Investors, Advisory Fees Impact of Age profile of Investor on Fund Selection Understanding the Investment Objective of a Mutual Fund Scheme Appreciation of Capital Market Volatility Reasons for Fluctuations in a Funds NAV Selecting an Equity Fund, a debt Fund, a Balanced Fund and a Money Market Fund 15. BUSINESS ETHICS FOR MUTUAL FUNDS 4 MARKS (10 PERIODS) Section One Understanding Business Ethics What is Meant by Business Ethics? What is the Need for Business Ethics? Business Ethics in Practice : Examples Objectives of Business Ethics Some Key Terms of Business Ethics Section Two Fund Regulators and Business Ethics Business Ethics and Fund Regulation in India Regulators Responsibilities Regulatory Objectives Fund Structure and Ethics a Fiduciary Fund Governance 2.1.2.2.1 Regulatory Requirements 2.1.2.3 Exercise of Voting Rights by Funds 2.1.2.4 Fund Operations 2.1.2.5 Fund Publicity and Advertisements 2.1.3 Ethics related Regulations Guidelines of Good Conduct for AMCs and TCs Personal Trading Regulations on Personal Trading Regulations on Insider Trading Regulations on Fund Advertisements Compliance Officer Board Review and Reporting to SEBI Code of Conduct for Distributors 2.2 Business Ethics and Fund Regulation in the U. S. Fund Governance Investment Adviser Codes of Ethics Ethical Issues and Responsible Investing New Regulations and Fair Business Practices OR Note: Any one of the subject from academic electives. Please refer the concerned year senior school curriculum of CBSE. CLASS XII PAPER IV ACCOUNTING FOR BUSINESS II TOTAL MARKS 100 (THEORY 60 + PRACTICAL 40) THEORY MARKS : 60 1. Financial Statements 15 Marks (36 Periods) Balance Sheet : meaning, purpose and format How to read the balance sheet? Analysis of financial statements Meaning and need Tools of financial analysis Ratio analysis Ratios to judge liquidity, Activity, profitability and leverage. (current, quick, stock turnover, debtors turnover, fixed assets turnover, creditors turnover, gross profit & net profit ratio, operating ratio, return on investment, debt / equity, debt-service coverage ratio) Cash flow (with simple adjustments as given above) According to AS-3 (Revised) with simple adjustment like depreciation, tax, dividend and sale of a fixed asset. 2. Banking (Operations) 10 Marks (19 Periods) i New Instruments offered by banks, types of loans, other financial services Personal Banking Services Deposits, Loans, Investments, Credit & Debit, Cards, Insurance, DEMAT Services, Online Services NRI Banking Money Transfer, Bank Accounts, Investments, property Solutions, Insurance, Loans Corporate Banking Corporate Net Banking, Cash Management, trade Services, Tradeway, Forex Online, SME Services Others Banking Services ATM, Mobile Banking, Internet Banking, DD, Locker / Safe vault and core banking 3. Investment Accounts 7 Marks (14 Periods) Maintaining the Accounts of investment in Shares of different Companies Maintaining the Accounts of Bonds and Debentures of different Companies. 4. Cost Accounting 10 Marks (19 Periods) i Meaning and importance of Cost Accounting ii Difference between financial accounting and cost accounting iii Types of costs and costing (Meaning only): fixed & variable, direct & indirect, average cost, marginal costing, standard costing, contract costing etc. iv Elements of cost : Material, Labour and Overheads v Cost Sheet : Purpose and its Format vi Preparation of cost sheet with simple adjustments 5. Corporate Laws 8 Marks (20 Periods) i Definition of a company private & public ii Memorandum and articles of association (Meaning only) iii Statutory Books (introduction only) 6. Accounting Software 10 Marks (29 Periods) i Types and utility of accounting software ii Installation of accounting software iii Ledger creation iv Using payroll PRACTICAL 40 MARKS 1. Visit a Workshop and take 20 items pertain material, labours and overheads and prepare a simple cost sheet 10 Marks (24 Periods) 2. Practice on latest accounting software 12 Marks (30 Periods) 3. Practice on latest Excise Software P&C Account of a Company 4 Marks (10 Periods) 4. Take a actual balance sheet and calculate the ratios 8 Marks (18 Periods) 5. Practice in operation of ATM, Tele Banking, Internet Banking, Core Banking, taking DD, operation of Locker / Safe Vault 6 Marks (14 Periods) CLASS XII PAPER V INTRODUCTION TO FINANCIAL MARKETS II TOTAL MARKS 100 (THEORY 60 + PRACTICAL 40) THEORY MARKS: 60 PART A: CAPITAL MARKET 1. Trading 8 Marks (18 Periods) Introduction Neat System Market Types Normal Market, Odd Lot Market, Retail, Debt Market, Auction Market Corporate Hierarchy Local Database Market Phases Opening, Open Phase, Market Close, Surcon Logging on Log Off / Exit from the Application Neat Screen Invoking An Inquiry Screen Market Watch, Security Descriptor, Market by Price, Previous Trades, Outstanding Orders, Activity Log, Order Status, Snap Quote, Market Movement, Market Inquiry, Auction Inquiry, Security / Portfolio List, Multiple Index Broadcast and Graph, Online Backup, Basket trading, Buy-Back Traders, Supplementary Functions Order Management Entering Orders, Order Modification, Order Cancellation, Order Matching Trade Management Trade Modification, Trade Cancellation Auction Entering Auction Orders, Auction Order Modification, Auction Order Cancellation, Auction Order Matching Limited Physical market Retail Debt Market (RDM) Trading Information Downloaded to Members Internet Broking Wireless Application Protocol 2. Clearing and Settlement 8 Marks (18 Periods) Introduction Transaction Cycle, Settlement Process, Settlement Agencies, Risks in Settlement Settlement Cycle Securities Settlement Fund Settlement Shortages Handling Risk Containment Measures Capital Adequacy Requirements, Margins, Settlement Guarantee, No Delivery Period International Securities Identification Number Dematerialization And Electronic Transfer of Securities Investor Protection Fund Clearing Software Reports File Transfer Protocol 3. Trading Membership 6 Marks (15 Periods) 4. Stock Brokers Introduction, Membership in NSE Sub Brokers Broker Clients Relations Know Your Client, unique Client Code, margins from the Clients, Execution of Orders, Accumulation of Orders, Contract Note, Payments / Delivery of Securities to the Clients, Brokerage, Payment of Stamp Duty, Segregation of Bank Accounts Sub Broker Client Relations Know Your Client, Orders, Purchase / Sale Note, Payments / Delivery of Securities, Brokerage Dispute, Arbitration and Appeal Code of advertisement 5. Legal Framework (Introduction and Meaning Only) 4 Marks (8 Periods) Securities Contracts (Regulation) Act, 1956 Securities Contracts (Regulation) Rules, 1957 Securities and Exchange Board of India Act, 1992 SEBI (Stock Brokers & Sub brokers) Rules, 1992 SEBI (Stock Brokers & Sub brokers) Regulations, 1992 SEBI (Insider Trading) Regulations, 1992 SEBI (Prohibition of Fraudulent And Unfair Trade Practices Relating to Securities Markets) Regulations, 1995 The Depositories Act, 1996 Indian Contract Act, 1872 The Companies Act, 1956 Public Debt Act, 1944 Income Tax Act, 1961 6. An Overview of the Indian Securities Market (Basics) 2 Marks (5 Periods) Introduction Market Segments, Products and Participants A Profile Dependence on Securities Market, Investor Population Primary Market Secondary Market Derivatives Market Market Design Primary Market, Secondary Market, Derivatives Market Regulatory Framework Research in Securities Market Testing and Certification 7. Fundamental Valuation Concepts 2 Marks (8 Periods) Elementary Statistical Concepts Mean, Geometric Mean, Variance, Standard Deviation, Coefficient of Variation, Covariance, Correlation Coefficient, Normal Distribution Time Value of Money Future Value of A Single Cash Flow, Future Value of an Annuity, Present Value of a Single Cash Flow, Present Value of an Annuity Understanding Financial Statements Comparative Financial Statements, Common Size Statements, Ratio Analysis Equity Research Bhav Copy Database, Index Database, Order Book Snapshots, Database, Trades Database PART B: DERIVATIVES MARKET 1. Introduction to derivatives 2 Marks (5 Periods) Definition Products Participants and functions (Types of members to be included) Types of derivatives Exchange traded vs. OTC derivatives markets Derivatives market at NSE (including turnover) 2. Market Index: 2 Marks (5 Periods) Understanding the index number Index construction Desirable attributes of an Index Types of indexes The S&P CNX Nifty (Introduction, components) Applications of Index 3. Introduction to futures and options 3 Marks (8 Periods) Forward contracts Limitations of forward markets Introduction to futures Distinction between futures and forwards contracts Futures terminology Introduction to options Option terminology Distinction between Futures and options Index derivatives 4. Application of Futures & Options 3 Marks (5 Periods) Payoff for derivatives contracts (futures and options) Difference between trading securities and trading futures on individual securities Use of futures (only simple strategies of hedging, speculation and arbitrage) Index futures Stock futures Use of Options (Only simple strategies of hedging, speculation and arbitrage) Index options Stock options 5. Trading 8 Marks (20 Periods) Futures and options trading system Entities in the trading system Basis of trading Corporate hierarchy Order types and conditions The trader workstation The market watch window Inquiry window Placing orders on the trading system Market spread / combination order entry Basket trading Futures and options market instruments (include interest rate futures) Contract specifications for index futures Contract specification for index options Contract specifications for stock futures Contract specifications for stock options Contract cycle Eligibility of stocks for futures and option trading Determination of market lot Quantity freeze Charges 6. Clearing and settlement 8 Marks (16 Periods) Clearing entities Clearing members Clearing banks Clearing mechanism Settlement mechanism Settlement of futures contracts Settlement of futures contracts Settlement of options contracts Special facility for settlement of institutional deals Risk Management Systems (Volatility, types of margins & SPAN) Adjustments for corporate actions 7. Regulatory framework Introduction only 4 Marks (10 Periods) Securities Contracts (Regulation) Act Securities and Exchange Board of India Act, 1992 Regulation for derivatives trading L. C. Gupta Committee Report J. R. Varma Committee Report Rules, Regulations and Byelaws of NSEIL Rules, Regulations and Byelaws of NSCCL Accounting and Taxation issues PRACTICAL 40 MARKS Live Trading NEAT 5 Marks (12 Periods) Market related Arithmetical Skills 5 Marks (12 Periods) Mock Trading, Future & Options (F&O) 10 Marks (24 Periods) NEAT ODIN BOLT MOCK Trading, Cash Market 20 Marks (48 Periods) NEAT ODIN BOLT CLASS XII PAPER VI BUSINESS PROCESS OUTSOURCING SKILLS TOTAL MARKS 100 (THEORY 60 + PRACTICAL 40) THEORY MARKS: 60 1. Understanding the BPO sector / Culture 10 Marks (24 Periods) Introduction to the BPO industry BPO Meaning, importance and different types of services Job profiles, career prospects & key skills Future potential and challenges Challenges / Threats facing the Industry Cost / Quality Model resulting in Outsourcing Concept of Cost savings resulting from outsourcing Difference between Indian and Western Culture (American / English / European) / Cultural preferences Key Regions & States Different types of Greetings / Lower decibel during all conversations 2. Source Data for Input / Processing / Voice 10 Marks (24 Periods) Familiarization on high volume data requiring processing Understanding conversion of paper to images Technology involved in the imaging Concept of Split Screen Latency Time Rule Set Data Entry Dependency Fields Meeting high volumes of similar transactions Concept of Exception handling Importance of documentation Consistency in Processing Storage / Access / Retrieving of data Regional Accent and grammar modification Correct vowel and consonant pronunciation Proper punctuation, intonation, blending and rhythm Accurate syllabus stress Voice Dictation, clarity and pitch Introduction to phonetics and transcription of messages Importance of Documentation Validation of all Documentation 3. Training & Communication 10 Marks (24 Periods) Mediums used for Transferring Knowledge Capturing of Skill sets required for the roles & On Job Training Concept of Subject Matter Experts Different Methods of preparing / writing invoices Different Methods of writing amounts / decimals Geography Key Regions & States Common Gestures / Greetings / Words Difference between active / passive communication Understanding the depth of different words used / applied Getting the feeling of the tone Awareness of offensive words in different cultures Pro active communication Awareness of working in similar time zone Concepts / handling of Conference calls Preparation of Presentations Key Channels required for business updates Difference between listening and hearing Four levels of listening / Rules on Active listening Listening barriers and overcoming them Business Continuity / Disaster Recovery 4. Building a Customer Service Attitude 10 Marks (24 Periods) Understanding the importance of a customer Transition from a College Culture to a Corporate Culture Identify what is professional / unprofessional Developing business relationship Customer Centricity Different tools available in taking customer feedback Measurements involved in gauging customer satisfaction Business Continuity / Disaster Recovery Word Choice & tone The concept of CARE (courtesy / attitude / respect and empathy) 5. Process Improvements 10 Marks (24 Periods) Identifying Areas on Improvements Concept around Critical to Quality (CTQ) Defining Quality with Metrics Baseline and Benchmarking Designing process improvements Competitive Edge ensuring low transaction cost Concept of Change Management Documentation of all improvements Synergy Benefits derived from multiple improvements Business benefits derived from process improvements 6. Transition Methodology 10 Marks (24 Periods) High Level Process mapping & Solution Identification Mapping of As is process Transition Budget / Billing & On Job Training Mapping of Adapted Process Process Performance Metrics Concept of Critical to Quality (CTQS) Measurements on CTQs Standard Operating Procedures Process Ramp up / Ramp down Concept of Pilot / Pre production PRACTICAL MARKS 40 i) Using role play method practice the customer handling procedure 10 Marks (24 Periods) Telephone handling skills Communication skills : oral and written Presentation Skills Trainers Skills Cultural Adaptability Skills ii) A complete case study encompassing the following : 30 Marks (72 Periods) Document High level process mapping Solution identification with Adapted process Training Plan Computation of As is Process Cost Computation of Adapted Process Cost On Job Training and pilot plan Ramping Up & Ramping down plan Billing & collections Documenting process performance metrics Client Communication Senior Management Communication Identifying areas on process improvements Solution designed on process improvements Solution mapped on Business Continuity / Disaster Recovery Analyzing voice of customer CLASS XII OPTIONAL COMMODITIES MARKET TOTAL MARKS 100 (THEORY 60 + PRACTICAL 40) THEORY MARKS: 60 1. Introduction to Derivatives 4 Marks (10 Periods) Derivatives defined Types of derivatives: Financial derivatives Commodity derivatives Products, participants and functions Exchange traded versus OTC derivatives 2. Commodity Derivatives 4 Marks (10 Periods) How they differ from financial derivatives Warehousing Quality of underlying assets Global commodities exchanges Commodities exchanges in India (regional & national) Commodities permitted for trading Kabra Committee Report (Roadmap) Commodity specific issues Cropping and growth patterns Global and domestic demand supply dynamics Price trends and factors that influence prices 3. Instruments available for trading 8 Marks (20 Periods) Types of instruments (future, options) Basics Payoffs 4. Pricing commodity derivatives 4 Marks (10 Periods) Investment assets versus consumption assets The cost of carry model Pricing futures contracts on investment commodities Pricing futures contracts on consumption commodities The futures basis 5. Using commodity derivative markets 8 Marks (15 Periods) Hedging Speculation Arbitrage 6. The NCDEX platform 3 Marks (6 Periods) About NCDEX Exchange membership Rules, regulations, byelaws 7. Commodities to be traded on the NCDEX platform 2 Marks (5 Periods) Types of commodities Bullion (silver & gold) Agricultural commodities 8. Trading on the NCDEX platform 10 Marks (25 Periods) Contract specifications Trading system Entities in the trading system Trader workstation Order types and conditions Exposure limits 9. Clearing, Settlement and Risk Management 10 Marks (25 Periods) Calendar and settlement schedule Position determination Settlement mechanism Daily Mark to Market Settlement Settlement price Daily settlement price Final settlement price Margining Initial margin Daily Mark to Market margin Open interest limits Second Line of Defence NSCCL SPAN @ Final settlement Cash settlement Physical settlement (Warehousing) Exception Handling Funds Shortages Delivery Shortages 10. Regulatory Framework 5 Marks (10 Periods) Rules governing Commodity Derivatives Exchanges Rules governing Intermediaries Investor Grievances, Arbitration Rules 11. Accounting and Taxation issues 2 Marks (8 Periods) PRACTICAL 40 MARKS Mock Trading of Commodities NCDEX platform 20 Marks (56 Periods) Viva voice commodities market 20 Marks (56 Periods) OR Note: Any one of the subject from academic electives. Please refer the concerned year senior school curriculum of CBSE. 6. LIST OF COLLABORATING INDUSTRIES & INSTITUTIONS National Stock Exchange Bombay Stock Exchange Mutual Fund Companies Foreign Financial Institutions Stock Broking Companies Commodities Broking Companies NASSCOM BPO Companies Call Centers Financial Institutions Other Financial Industries & Organisations 7. LIST OF EQUIPMENTS AND SOFTWARE Computers Printer Software Manual for Various Software / Assorted Reference Books Demonstration Stand Computer Consumable Stationery LCD Projector 8. LIST OF REFERENCE MATERIAL Study Material of Financial Market Module of NSE Futures and Options by B. R. Bagri and N. D. Vohra Manual of SEBI by V. K. Puri Indian Finance System by M. Y. Khan Business Finance by R. K. Sharma Introduction to Accountancy by T. S. Grewal An Introduction to Cost Accounting by P. K. Ghosh Principles of Auditing by G. N. Tandon Fundamentals of Computers by V. Rajaraman Manuals of Banks 9. TEACHING FACULTY AND THEIR QUALIFICATIONS 1. TEACHING FACULTY Full Time Teacher Part Time Teachers (Drawn from the industry / relevant field) 2. QUALIFICATION FULL TIME TEACHERS a) Essential M. Com. / MBA / MA (Economics) / Master of Financial Control / Master of Financial Services or equivalent for Accounting for Business. OR Bachelor degree from recognized University / Institutes with NSEs Certification in Financial Markets (NCFM) having passed 3 modules with minimum 60% in Financial Markets (Beginners Module) Capital Market Dealers Module Derivative Markets Dealers Module. OR Bachelor degree in Computer Science / Application from recognized University / Institutions with Minimum two years experience of working in all the module of MS-Office (Word, Excel, PowerPoint, Outlook) b) Desirable i Bachelor of Education or teaching degree from recognized University / institution ii Having experience of Accounting Software. Part Time Teachers Practical trainers duly trained by organizations dealing in financial markets. The trainers should have passed relevant module of NSE. OR Practical Trainers should be from stock exchanges or stock broking companies / financial institutions or BPO Industry with minimum of 2 years experience in the field. 10. COURSE COMMITTEE MEMBERS 1. Shri G. C. Sharma Convener Director, BLB Institute of Financial Markets, 6, Bahadur Shah Zafar Marg, New Delhi. Representative of ASSOCHAM 2. Shri Shashi Bhushan Chief Coordinator HOD (EDUSAT) CBSE, New Delhi. 3. Shri A. Palanivel Head, Business and Commerce Division, PSS Central Institute of Vocational Education, NCERT, 131 Zone II, M. P. Nagar, Bhopal 462011. 4. Dr. S. C. Gupta Head of Commerce Department, Ramjas College, University of Delhi Campus, Delhi 110007. 5. Shri Anoop Mundra General Manager, BLB Institute of Financial Markets, 6, Bahadur Shah Zafar Marg, New Delhi. 6. Shri Sharad Talwar Director Convergys India Services Pvt. Ltd. DLF-Atria, Jacaranda Marg, DLF City, Phase 2, Gurgaon 122002, Haryana 7. Shri Sanjay Vig C.A. & Consultant Price Water Cooper (PWC) 212 Gandharv Mahavidyalaya DDU Marg, New Delhi 8. Shri Sunder Ramachandran Managing Partner, W.H.C. Solutions, Lajpat Nagar I, New Delhi 9. Shri Arun Kumar Sr. Manager Convergys India Services Pvt. Ltd. Gurgaon 122002 10. Shri C. 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