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Dołączył: 14 Mar 2018
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Post2018-07-12, 01:25    Andrew-Benintendi Odpowiedz z cytatem
Swaps are valuable to those who are investing or borrowing in foreign currency. For example , a person who invests in a foreign treasury bill can use a spot-forward swap to avoid foreign exchange risk. The investor sells forward the foreign currency maturity value of the Treasury bill at the same time as the spot foreign exchange is purchased to pay for the bill. Since a known amount of the investor’s home currency will be received according to the forward component of the swap, no uncertainty from exchange rates is faced. In a similar way, those who borrow in foreign currency can buy forward the foreign currency needed for repayment of the foreign currency loan at the same time that they convert the borrowed foreign funds into their own currency on the spot market. The value of swaps to international investors and borrowers helps explain their substantial popularity. While valuable to investors and borrowers, swaps are not very useful to importers and exporters.

Payments and receipts in international trade are frequently delayed. However , it is an outright forward purchase of foreign exchange that is valuable to the importer, not a swap. Similarly, the exporter needs to make an outright forward sale of foreign exchange to ensure the amount received in its own currency. This is not, however , the place to present the details of these uses of forward exchange or the details of the value of forward exchange to borrowers and investors. Swaps are popular with banks because it is difficult to avoid risk when making a market for many future dates and currencies. For some dates and currencies a bank will be long in foreign exchange by having agreed to purchase more of the foreign currency than it has agreed to sell. For other dates and currencies, a bank will be short, having agreed to sell more of these currencies than it has agreed to buy.

Swaps help the bank to economically reduce risk. For example, if bank A is long on spot British pounds and short on 30-day forward pounds it will try to find another bank , bank B, in the opposite situation. Bank A will sell pounds spot and buy pounds forward – a swap-out of sterling – with bank B. In this manner, both banks balance their spot versus forward positions while economizing on the number of transactions that achieves this. The use of only standard length, or so-called even-dated contracts , leaves some exposure to remaining long and short positions from day to day. These are then covered with rollover swaps. In this way swaps allow banks to exchange their surpluses and shortages of individual currencies to offset spot and forward trades with their customers and with each other. It should be no surprise that matching customer trades with appropriate swaps is a complex and dynamic problem
For the aspiring electrical and computer engineers, a decision to take FE Electrical and Computer Exam is one of the most important steps that they take for their careers. Taking this initiative is vital as it sets you on a journey to Professional Engineering Licensure which probably the most regarded credential in industry. PE license offer recognition, status, higher salary , job opportunities and increases chances to assume senior roles.

Although above mentioned benefits appear to be self explanatory in terms of the source of motivation for students however it might be surprising to learn that a fair majority of practicing engineers as well as new graduates from engineering school decide not to take FE exam each year. One of the main factor that acts as a wall between students and FE exam is the perceived level of difficulty. This is because FE Electrical and Computer Exam practically covers entire undergraduate curriculum of a typical Electrical and Computer Engineering course work. The second and not so obvious factor is that most of the states in U.S. allow industrial exemption for PE licensed designs meaning that as long as businesses are carrying out activities involving engineering design on their private properties, they are not mandated to have the plans stamped and sealed by a licensed PE.

The first factor, perceived level of FE exam difficulty, results in procrastination on part of the students and they decide to put the exam off for future. This only exacerbates the problem because passing FE exam becomes more difficult not easier as you continue to postpone it. Without doubt , the best time to take FE exam is when you are still in school or recently graduated. This is because all the concepts are still fresh in your mind and you are used to preparing for the exams.

The second factor, industrial exemption, provides an excuse for not taking exam since you can always make an argument that PE license is not a requirement for practicing engineering. It is true that at the moment majority of jurisdictions do not require you to have PE license in order to practice engineering but if past and current trends are any indication of future, relying on industrial exemption is not the best career development strategy. This is because of two reasons. First of all , a lot of developed countries have moved towards legislating only the licensed professional engineers to be allowed to call themselves as engineer (such as in Canada) and require licensed professional engineers to stamp and seal both public and private projects. Secondly, in an extremely interconnected work, outsourcing of jobs is not restricted to certain fields like telemarketing, sales , IT or software. Outsourcing is aggressively happening in all industries and one of the only ways to protect yourself against it is to seek credentials like PE.

Evidently many employers in the top industries require a job candidate to be licensed for their senior engineering positions. Professional engineers enjoy high prestige and credibility after obtaining the licensure which is an ind.
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