SOLUTION: International Financial Management | My Assignment Tutor

Page 1 of 12APPENDIX GA36a LEVEL 4 ASSESSMENT SPECIFICATION Programme:BA Business ManagementModule:International Financial ManagementModule code:LCBB6002Contribution toOverall ModuleAssessment (%):70%ModuleCoordinator/Lecturer:Dr Theo PanagiotidisInternal Verifier:Dr John-Paul OkekeAssignment Title:Assessment 2(Due to Covid 19, theexamination has been replacedwith this assessment tasks)Word count (orequivalent):2500-3000Submissiondeadline:To be announced by theAssessment teamPlease refer to the assessmentsschedule published onStudents’ Hall in MoodleReturn date ofprovisional marks& writtenfeedback:After the ExamBoardSubmissionmethod:All written assessments, where practical and possible, must be submitted viaTurnitin unless otherwise instructed by the Lecturer. (Please DO NOT put thisassessment specification into Turnitin or it will match many similarities withother students’ submissions.)Alternative submission method (if applicable): Not ApplicableLate submission of the assessment will result in a late penalty mark.Penalties for late submission: Up to one week late, maximum mark of 40%.Over one week late, 0%. Only the Extenuating Circumstances Panel mayapprove a change to submission dates.Academichonesty /referencing:Academic honesty is required. In the main body of your submission you mustgive credit to authors on whose research and ideas your work is based. Appendto your submission a reference list that indicates the books, articles, etc. thatyou have used, cited or quoted in order to complete this assessment. Page 2 of 12 Module Learning Outcomes(from module syllabus)Upon the successful completion of this module, the student should be able to:• apply and critically evaluate the relevant theoretical framework and models ofinternational financial management;• evaluate, apply and critically discuss various methods and techniques relating to thefinancing of an international business;• apply and critically appraise various theoretical models of corporate value, internationalcost of capital, and financial structure. TASK DESCRIPTION Due to the Covid-19 Pandemic, the examination has been replaced with the following taskswhich you have been asked to answer all questions.1. Question 1Toughnut plc is considering a two-year project that has the following probability distribution ofreturns: Year 1Year 2ReturnProbabilityReturnProbability8,0000.14,0000.310,0000.68,0000.712,0000.3 The events in each year are independent of other years (that is, there are no conditionalprobabilities). An outlay of £15,000 is payable at Time 0 and the other cash flows are receivable atthe year ends. The risk-adjusted discount rate is 11 per cent.Calculatea The expected NPV.b The standard deviation of NPV.2. Question 2RJW plc is a quoted firm that operates ten lignite mines in Wales. It has total assets of £50m andthe value of its shares is £90m. RJW plc’s directors perceive a great opportunity in the UKgovernment’s privatisation drive. They have held preliminary discussions with the governmentabout the purchase of the 25 lignite mines in England. The purchase price suggested by theTreasury is £900m.For two months, the directors have been engaged in a fund-raising campaign to persuade Cityfinancial institutions to provide £500m of new equity capital for RJW and £400m of fixed interestrate debt capital in the form of bank loans.Page 3 of 12You are a senior analyst with the fund management arm of Klein-Ben Wensons and last week youlistened attentively to RJW’s presentation. You were impressed by their determination, acumenand track record but have some concerns about their figures for the new project.RJW’s projections are as follows, excluding the cost of purchasing the mines:Table 1: Cash flows for the English lignite mines: RJW’s estimate Time t012345 and allsubsequentyearsSales (£m) (cash inflows)1,2001,2501,3001,3201,350Less operating costs (£m) (cashoutflows)1,0701,1051,1501,1901,200Net cash flows (£m)130145150130150 You believe the probability of RJW’s projections being correct to be 50 per cent (or 0.5). You alsoestimate that there is a chance that RJW’s estimates are over-cautious. There is a 30 per centprobability of the cash flows being as shown in Table 2 (excluding the cost of purchasing the mines).Table 2: A more optimistic forecast Time t012345 and allsubsequent yearsSales (£m) (cashinflows)1,3601,416.71,473.331,4961,530Less operating costs(£m)(cash outflows)1,1001,1401,1901,2251,250Net cash flows (£m)260276.7283.33271280 On the other hand, events may not turn out as well as RJW’s estimates. There is a 20 per centprobability that the cash flows will be as shown in Table 3.Table 3: A more pessimistic scenario (excluding purchase cost of mines) Time t012345 and allsubsequentyearsSales (£m) (cashinflows)1,166.671,216.71,266.671,1441,170Less operating costs(£m)(cash outflows)1,0701,1051,1501,1651,150Net cash flows (£m)96.67111.7116.67–2120 Assume1. The cost of capital can be taken to be 14 per cent.2. Cash flows will arise at year ends except the initial payment to the government that occurs atTime 0.Page 4 of 12Required aCalculate the expected net present value (NPV) and the standard deviation of the NPV for theproject to buy the English lignite mines if £900m is taken to be the initial cash outflow. b There is a chance that events will turn out to be much worse than RJW would like. If the netpresent value of the English operation turns out to be worse than negative £550m, RJW will beliquidated. What is the probability of avoiding liquidation? cIf the NPV is greater than positive £100m then the share price of RJW will start to rise rapidly intwo or three years after the purchase. What is the probability of this occurring? 3. QuestionAlder plc is considering four projects, for which the cash flows have been calculated as follows: Points in time (yearly intervals)Project012345A-£500,000+£600,000Project endsafter 1 year.B-£200,000+£200,000£150,000Project endsafter 2 years.C-£700,0000£1 millionProject endsafter 2 years.D-£150,000+£60,000+£60,000+£60,000+£60,000Project endsafter 4 years. The appropriate rate of discount is judged to be 10 per cent for risk-free projects.Accepting one of the projects does not exclude the possibility of accepting another one, and eachcan only be undertaken once.Assume that the annual cash flows arise on the anniversary dates of the initial outlay and thatthere is no inflation or tax.Requireda Calculate the net present value for each of the projects on the assumption that the cash flowsare not subject to any risk. Rank the projects on the basis of these calculations, assuming thereis no capital rationing. bBriefly explain two reasons why you might regard net present value as being superior to internalrate of return for project appraisal. cNow assume that at Time 0 only £700,000 of capital is available for project investment. Calculatethe wisest allocation of these funds to achieve the optimum return on the assumption that each of the projects is divisible (fractions may be undertaken). What is the highest net present valueachievable?d A change in the law now makes the outcome of Project D subject to risk because the cash flowsdepend upon the actions of central government. The project will still require an initial cash outflowof £150,000. If the government licensing agency decides at Time 0 to permit Alder a licence fora one-year trial production and sale of the product, then the net cash flow for the first year willbe +£50,000. If the agency decides to allow the product to go on sale from Time 0 under a fouryear licence without a trial run the cash inflow in Year 1 will be +£70,000. The probability of thegovernment insisting on a trial run is 50 per cent and the probability of full licensing is 50 percent.Page 5 of 12If the trial run takes place then there are two possibilities for future cash flows. The first, with aprobability of 30 per cent, is that the product is subsequently given a full licence for the remainingthree years, resulting in a cash flow of +£60,000 per year. The second possibility, with aprobability of 70 per cent, is that the government does not grant a licence and production andsales cease after the first year.If a full licence is granted at Time 0 then there are two possible sets of cash flows for thesubsequent three years. First, the product sells very well;, producing an annual net cash flow of+£80,000 – this has a probability of 60 per cent. Secondly, the product sells less well, producingannual cash flows of +£60,000 – this has a probability of 40 per cent.The management wishes you to calculate the probability of this product producing a negative netpresent value (assume a normal distribution). The appropriate discount rate for a project of thisrisk class is 13 per cent.Page 6 of 12 GUIDANCE FOR STUDENTS IN THE COMPLETION OFTASKS NOTE: The guidance offered below is linked to the five generic assessment criteria overleaf.1. Engagement with Literature SkillsYour work must be informed and supported by scholarly material that is relevant to and focused on the task(s)set; you should make use of scholarly reviews and primary sources, where appropriate (for example, refereedresearch articles and/or original materials appropriate to the discipline). You should provide evidence thatyou have accessed a wide range of sources, which may be academic, governmental and industrial; thesesources may include academic journal articles, textbooks, current news articles, organisational documents,and websites. You should consider the credibility of your sources; academic journals are normally highlycredible sources while websites require careful consideration/selection and should be used sparingly. Anysources you use should be current and up-to-date, mostly published within the last five years or so, thoughseminal/important works in the field may be older. You must provide evidence of your research/own readingthroughout your work, using a suitable referencing system, including in-text citations in the main body of yourwork and a reference list at the end of your work.Guidance specific to this assessment:2. Knowledge and Understanding SkillsAt level 6, you should be able to demonstrate coherent and detailed knowledge and a systematicunderstanding of the subject area, at least some of which is informed by the latest research and/or advancedscholarship within the discipline. You should be aware of the uncertainty, ambiguity and limits of knowledge.Your work must demonstrate the growing extent of your knowledge and systematic understanding ofconcepts and underlying principles associated with the subject area. Knowledge relates to the facts,information and skills you have acquired through your learning. You demonstrate your understanding byinterpreting the meaning of the facts and information (knowledge). This means that you need to select andinclude in your work the concepts, techniques, models, theories, etc. appropriate to the task(s) set. Youshould be able to explain the theories, concepts, etc. meaningfully to show your understanding. Yourmark/grade will also depend upon the extent to which you demonstrate your knowledge and understanding;ideally each should be complete and detailed, with comprehensive coverage.Guidance specific to this assessment:3. Cognitive and Intellectual SkillsYou should be able to: critically evaluate evidence, arguments, assumptions, abstract concepts and datasome of which are at the forefront of a discipline (and that may be incomplete) to devise and sustainarguments, to make judgements and/or solve problems; describe and comment upon particular aspects ofcurrent research, or equivalent advanced scholarship, in the discipline Your work must contain evidence oflogical, analytical thinking, evaluation and synthesis. For example, to examine and break information downinto parts, make inferences, compile, compare and contrast information. This means not just describingwhat! But also justifying: Why? How? When? Who? Where? At what cost? At all times, you must providejustification for your arguments and judgements. Evidence that you have reflected upon the ideas of otherswithin the subject area is crucial to you providing a reasoned and informed debate within your work.Furthermore, you should provide evidence that you are able to make sound judgements and convincingarguments using data and concepts. Sound, valid conclusions are necessary and must be derived from thecontent of your work. Where relevant, alternative solutions and recommendations may be proposed.Guidance specific to this assessment:Page 7 of 124. Practical SkillsAt level 6, you should be able to apply the methods and techniques that you have learned to review,consolidate, extend and apply your knowledge and understanding, and to initiate and carry out projects. Youwill deploy accurately established techniques of analysis and enquiry relevant to the discipline, and applythem in complex and unpredictable contexts, to devise and sustain arguments and/or to solve problems. Youshould be able to frame appropriate questions to achieve a solution – or identify a range of solutions. Youshould be able to demonstrate how the subject-related concepts and ideas relate to real world situationsand/or a particular context. How do they work in practice? You will deploy models, methods, techniques,and/or theories, in that context or circumstances, to assess current situations, perhaps to formulate plans orsolutions to solve problems, or to create artefacts, some of which may be innovative and creative. This islikely to involve, for instance, the use of real world artefacts, examples and cases, the application of a modelwithin an organisation and/or benchmarking one theory or organisation against others based on statedcriteria. You should show awareness of the limitations of concepts and theories when applied in particularcontexts.Guidance specific to this assessment:5. Transferable Skills for Life and Professional PracticeYour work must provide evidence of the qualities and transferable skills necessary for graduate-levelemployment requiring the exercise of initiative and personal responsibility and decision-making in complexand unpredictable circumstances. This includes demonstrating: the learning ability for professionaldevelopment to advance existing skills and acquire new competences of a professional nature that will enableyou to assume significant responsibility within organisations; that you can initiate and complete tasks andprocedures, whether individually and/or collaboratively; that you can use appropriate media to effectivelycommunicate information, arguments and analysis in a variety of forms to specialist and non-specialistaudiences; fluency of expression; clarity and effectiveness in presentation and organisation. Work should becoherent and well-structured in presentation and organisation.Guidance specific to this assessment:Page 8 of 12 STUDENT FEEDBACK FORM This section details the extent to which the assessment criteria are demonstrated by you, which in turn determines yourmark. The marks available for each category of skill are shown. Lecturers will use the space provided to comment onthe achievement of the task(s), including those areas in which you have performed well and areas that would benefitfrom development/improvement. Generic Assessment CriteriaMarksavailableMarksawarded1. Engagement with Literature Skills.102. Knowledge and Understanding Skills203. Cognitive and Intellectual Skills204. Practical Application Skills405. Transferable Skills for Life and Professional Practice10 Assessment Mark (Assessment marks are subject to ratification at theExam Board. These comments and marks are to give feedback on module workand are for guidance only until they are confirmed. )Late Submission Penalties (tick ifappropriate)100%Up to 1 week late (40% Max)Over 1 week late (0%) GENERIC ASSESSMENT CRITERIA Level 6In accordance with the Framework for Higher Education Qualifications, at the end of Level 6 students should have coherent and detailed knowledge and asystematic understanding of their subject area, at least some of which is informed by the latest research and/or advanced scholarship within the discipline.They will be able to accurately deploy established techniques of analysis and enquiry within a discipline, using their conceptual understanding to devise andsustain arguments and/or to solve problems. They should be aware of the uncertainty, ambiguity and limits of knowledge. They should be able to criticallyevaluate evidence, arguments, assumptions, abstract concepts and data (that may be incomplete), to make judgements, and to frame appropriate questionsto achieve a solution – or identify a range of solutions. They will apply the methods and techniques that they have learned to review, consolidate, extend andapply their knowledge and understanding, and to initiate and carry out projects. They will have the ability to manage their own learning, and to make use ofscholarly reviews and primary sources (for example, refereed research articles and/or original materials appropriate to the discipline). They will demonstratethe qualities and transferable skills necessary for employment requiring: the exercise of initiative and personal responsibility; decision-making in complex andunpredictable contexts; the learning ability needed to undertake appropriate further training of a professional or equivalent nature. Level 6FAILMARGINAL FAILSATISFACTORY(3rd / Pass)GOOD(2.2 / Pass)VERY GOOD(2.1 / Merit)EXCELLENT(1st / Distinction)EXCEPTIONAL(1st / Distinction)Category0-29%30-39%40-49%50-59%60-69%70-84%85-100%Engagementwith literature(includingreading,referencing,academicconventions andacademichonesty)Little or noevidence ofreading and/orreliance oninappropriatesources.Views andfindings mostlyunsupported andnonauthoritative.Referencingconventionsusedincoherently orlargely absent.Poorengagementwith essentialreading. Noevidence ofwider reading.Reliance oninappropriatesources, and/orindiscriminateuse of sources.Heavily relianton informationgained throughclass contact.Inconsistent andweak use ofreferencing.Engagementwith a limitedrange of mostlyrelevant andcredible sources.Some omissionsand minorerrors.Referencingconventionsevident thoughnot alwaysappliedaccurately orconsistently.Engagementwith anappropriaterange ofresearchinformedliterature,includingsourcesretrievedindependently.Some overreliance on texts.Referencing mayshow minorinaccuracies orinconsistencies.Engagementwith a widerange ofresearchinformedliterature,includingsourcesretrievedindependently.Selection ofrelevant andcredible sources.Very good use ofreferencing, withno/very fewinaccuracies orinconsistencies.Engagementwith anextensive rangeof relevant andcredibleliterature,informed by thelatest research.Consistentlyaccurateapplication ofreferencing.Exceptionalengagementwith anextensive rangeof relevant andcredibleliterature,informed by thelatest research.High-levelreferencing skillsconsistently andprofessionallyapplied.Knowledgeandunderstanding(Coherent anddetailedMajor gaps inknowledge andsystematicunderstanding ofthe subjectGaps inknowledge, withonly superficialsystematicunderstanding.Limitedknowledge andsystematicunderstanding ofthe relevantKnowledge isreasonablydetailed,accurate with agood systematicKnowledge isreasonablyextensivecoherent anddetailed.Excellentcoherent anddetailedknowledge andsystematicExceptionallycoherent anddetailedknowledge andsystematic Level 6FAILMARGINAL FAILSATISFACTORY(3rd / Pass)GOOD(2.2 / Pass)VERY GOOD(2.1 / Merit)EXCELLENT(1st / Distinction)EXCEPTIONAL(1st / Distinction) Category0-29%30-39%40-49%50-59%60-69%70-84%85-100%knowledge andsystematicunderstanding ofthe subject area,at least some ofwhich is informedby the latestresearch and/oradvancedscholarship withinthe discipline.)matter.Substantialinaccuracies. Noawareness ofknowledge of thelatest researchand/or advancedscholarshipwithin thediscipline.Some significantinaccuraciesand/or irrelevantmaterial. Noawareness ofknowledge of thelatest researchand/or advancedscholarshipwithin thediscipline.concepts andprinciples withinthe subject areawhich to somelimited extent, isinformed bycurrent researchand scholarship.understanding ofthe field of studyand to someextent, currentresearch andscholarship.Exhibits verygoodunderstanding ofthe breadth anddepth ofestablishedviews, and thework is, at leastin part, wellinformed bycurrent researchand scholarship.understanding ofthe principlesand theories ofcurrent researchand scholarship.Clear awarenessof challenges toestablishedviews and thelimitations of theknowledge base.understanding ofthe principlesand theories ofthe subject, wellinformed bycurrent researchand scholarship.A critical,sophisticatedand nuancedawareness ofthe ambiguitiesand limitations ofknowledge.Cognitive andintellectualskills(Conceptual andcritical thinking,analysis,synthesis andevaluation ofresearch,assumptions,abstract conceptsand data (thatmay beincomplete); logic,argument andjudgement.)Wholly or almostwhollydescriptive work.Little or noanalysis,synthesis orevaluation.Failure todeveloparguments,leading toillogical or invalidjudgements.Unsubstantiatedgeneralisations,made withoutuse of anycredibleevidence.Largelydescriptive work,with superficialuse of criticalevaluation.Weakdevelopment ofarguments andjudgements.Informationaccepteduncritically, usesgeneralisedstatementsmade with scantevidence andunsubstantiatedopinions. Ideassometimesillogical andcontradictory.Limited attemptat criticalthinking,analysis,synthesis andevaluation,tending towardsdescription.Some evidenceto supportemergingarguments andjudgements butthese may beunderdevelopedor with a littleinconsistency /misinterpretation.Asserts ratherthan argues acase.Some criticalthinking,analysis,synthesis andevaluation. Cananalyse newand/or abstractconcepts anddata withoutguidance.An emergingawareness ofdifferent stancesand ability to useevidence (thatmay beincomplete) tosupport theargument.Mostly validarguments andlogicaljudgements.Some tendencyto assert/stateopinion ratherthan argue onSound criticalthinking,analysis,synthesis andevaluationdemonstratingcritical thinking.Ability to deviseand sustainpersuasivearguments, andto review thereliability, validityand significanceof evidence (thatmay beincomplete) tomake mostlyappropriate andvalidjudgements.Excellent criticalthinking,analysis,synthesis andevaluation.Ability toinvestigatecontradictory orincompleteinformation andmake strong,persuasive,arguments andsophisticatedjudgements.Some evidenceof independentthought andability to ‘seebeyond thequestion’,suggesting agrasp of thebroader field andwider concepts.Exceptionalcritical thinking,analysis,synthesis andevaluation basedon judiciouslyselectedevidence.Ability toinvestigatecontradictory orincompleteinformation andmake strong,persuasive,arguments andsophisticated,nuanced,judgements.Evidence ofindependentthought andability to ‘seebeyond thequestion’,suggesting anoutstanding Level 6FAILMARGINAL FAILSATISFACTORY(3rd / Pass)GOOD(2.2 / Pass)VERY GOOD(2.1 / Merit)EXCELLENT(1st / Distinction)EXCEPTIONAL(1st / Distinction) Category0-29%30-39%40-49%50-59%60-69%70-84%85-100%the basis ofreason andevidence.grasp of thebroader field andwider concepts.Practical skills(Apply/deployaccuratelyestablished toolsand techniques;initiate and carryout projects;formulatesolutions to solveproblems incomplex andunpredictablecontexts.)Limited or nouse of methods,materials, toolsand/ortechniques.Little or noappreciation ofthe context ofthe application.Limitedunderstanding ofthe application oftheory topractice ormakingappropriate linksbetween the two.Very weakproblem-solvingskills in complexandunpredictablecontexts.Rudimentaryapplication ofmethods,materials, toolsand/ortechniques butwithoutconsiderationandcompetence.Flawedappreciation ofthe context ofthe application.Weakunderstanding ofthe application oftheory topractice, withonly occasionalevidence ofmakingappropriate linksbetween the two.Weak problemsolving skills incomplex andunpredictablecontexts.An adequateawareness andmostlyappropriateapplication ofwell-establishedmethods,materials, toolsand/ortechniques.Basicappreciation ofthe context ofthe application.Theoreticalknowledge andunderstandingapplied inpractice, but notalways makinglogical linksbetween the two.Can identifyproblems andpropose basicsolutions incomplex andunpredictablecontexts withoutfully appreciatingthe complexity.A good andappropriateapplication ofstandardmethods,materials, toolsand/ortechniques.Clearappreciation ofthe context ofthe application.Mainlyconsistent,accurate andlogicalapplication oftheory topractice, makingappropriate linksbetween the twoCan identifyproblems andpropose mostlyappropriatesolutions incomplex andunpredictablecontexts.A very goodapplication of arange ofmethods,materials, toolsand/ortechniques.Very goodconsideration ofthe context ofthe application,with perceptiveinsights. Canidentify problemsand proposeappropriatesolutions incomplex andunpredictablecontexts.Evidence ofsome innovationand creativity.An advancedapplication of arange ofmethods,materials, toolsand/ortechniques.The context ofthe application iswell considered,and insightful.Application anddeploymentextend beyondestablishedconventions.Can identifycomplexproblems andproposeexcellentsolutions.Innovation andcreativityevident.Exceptionallevels ofapplication anddeploymentskills inunpredictable,practicalcontexts,drawing skilfullyon the latestresearch withinthe discipline.Can identifycomplexproblems andproposesophisticatedsolutions.Assimilation anddevelopment ofcutting edgeprocesses andtechniques.Transferableskills for lifeandprofessionalpractice(Exercise ofinitiative andCommunicationmedium isinappropriate ormisapplied.Work is poorlystructured,disorganisedCommunicationmedium is poorlydesigned and/ornot suitable forthe audience.Work is poorlypresented in aCancommunicate ina suitablemedium but withsome room forimprovement.Cancommunicateeffectively in asuitable format,but may haveminor errors.Cancommunicatewell, confidentlyand consistentlyin a suitableformat.Cancommunicateprofessionallyconfidently andconsistently in asuitable format.Cancommunicatewith anexceptionallyhigh level ofprofessionalism. Level 6FAILMARGINAL FAILSATISFACTORY(3rd / Pass)GOOD(2.2 / Pass)VERY GOOD(2.1 / Merit)EXCELLENT(1st / Distinction)EXCEPTIONAL(1st / Distinction) Category0-29%30-39%40-49%50-59%60-69%70-84%85-100%personalresponsibility;professionaldevelopment;initiate andcomplete tasksand procedures:individually and/orcollaboratively;use appropriatemedia tocommunicateeffectively;fluency ofexpression; clarityand effectivenessin presentationand organisation.)and/orconfusinglyexpressed. Veryweak use oflanguage and/orveryinappropriatestyle. Little or noevidence ofautonomy (orcollaboration,where relevant)in the completionof tasks. Little orno evidence ofthe skillsrequired ingraduateemployment.disjointedmanner. It isloosely, and attimesincoherently,structured, withinformation andideas oftenpoorlyexpressed.Weak use oflanguage and/orinappropriatestyle. Weakindependentinitiative (orcollaboration, ifrelevant).Limited evidenceof the skillsrequired ingraduateemployment.Mostly orderedpresentation andstructure inwhich relevantideas / conceptsare reasonablyexpressed. Workmay lackcoherence inplaces. Canwork as part of ateam, but withlimitedinvolvement ingroup activities.Demonstratesthe basic skillsrequired ingraduateemployment,with some areasof minorweakness.Mostly coherent,organised work,in a suitablestructure and isfor the most partclearlyexpressed. Canwork effectivelyindependentlyand/or as part ofa team, withclearcontribution togroup activities.Demonstratesthe skillsrequired ingraduateemployment,with some areasof strength andsome of minorweakness.Work iscoherent, fluent,well-structuredand organised.Can work verywellautonomouslyand/or as part ofa team, with verygoodcontribution togroup activities.Demonstratesvery goodgraduateemploymentskills, with justoccasional minorweakness.Work iscoherent, veryfluent and ispresentedprofessionally.Can workautonomouslywith initiative.Where relevantcan workprofessionallywithin a team,showingleadership skillsas appropriate,managingconflict andmeetingobligations.Demonstratesexcellentgraduateemploymentskills and anappetite forfurtherdevelopment.Work isexceptionallycoherent, veryfluent and ispresentedprofessionally.Can workexceptionallywell andprofessionallywithin a team,showingadvancedleadership skills.Demonstratesexceptionalgraduateemploymentskills and anappetite forfurtherdevelopment. 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