Before 1996, people had to go through a lot of struggles for trading and investments. Shares, bonds, and other forms of securities were available in physical forms only. This invited a host of problems like the safety of the documents, their authenticity, a transfer from one place to another, and their access. Then, the Depository Act of 1996 was introduced, and it revamped the whole system. All the securities were now transformed into electronic forms, and this move was widely appreciated. To store all these information, every trader had to open a demat account. As the market regulator has made the Demat account mandatory, one must get the same opened with any of the leading stockbrokers who is licensed for the same. It proves much helpful if one wants to deal in this market and earn a good profit on a regular basis also. One can get this account opened with NSDL or CDSL as only they are authorized for account opening of Demat.
The procedure to open a lifetime free demat account is very simple. One needs to visit the Depository Participant (DP) and submit all the relevant documents. The DP will then perform verification, and if there are no issues, the demat account will be opened, and its reigns will be handed over to the account holder. But with time, the idea of having a demat account got its share of critics who pointed out the small, but obvious issues it was causing to its customers.
- The feather on the cap of a demat account is its ability to safeguard all the sensitive information, which would wreak havoc if it fell into the wrong hands. The faith of the customers on this type of account is the reason why it is accepted all over the world.
- Physical certificates carried with themselves a stamp duty of 0.5 percent. Since demat accounts store digital information, there is no fee levied on the possession of share, bonds, and mutual funds.
- People who prefer online trading without any expert help gain the most because of demat accounts. All the tasks related to trading can be done in seconds, and there is no need to visit a professional for odd jobs.
- There is no supervision over the actions of the stockbrokers, who oversee the decision-making in place of their customers who hold a demat account.
- A lot of agreements are necessary for the sound functioning of the process; this beats the vision of having a simple method.
- Demat accounts having non-liquid shares can never be closed, and the account holder must continue paying its various fees.
- Some investors do no close their demat account even after liquidating their holdings, without knowing they have to pay the charges even after this action.
Even though the demat account has some cons, its benefits outweigh them. Its utility cannot be undermined, which is why every trader has one. Constant efforts are being made to make it better and provide much-needed help to the customers.
Critical Tests to Ensure Critical Calibre in Your Employees
A huge number of employers are managing critical thinking assessment tests during their recruitment process. This is exclusively designed to test the decision-making skills of an applicant. It is mainly based on standard critical thinking. Critical thinking demands a candidate to discover and define the issues and problems, collect essential information needed and expectations made, cater possible clarification to the problem, examining alternatives to select the finest solution and finally making conclusions to reach at a right and effective decision.
The right test for critical thinking ability is suitable for hiring at all levels like mid managerial and senior decision-making levels. These tests are used to assess the applicants on three chief areas like
- Proper recognition of Assumptions
- Exact evaluation of arguments
- Drawing conclusions
This all constitutes – Inference and Interpretation. The applicants are given diverse types of situations and statements to examine them on the above mentioned skills. The test is carefully scheduled to check the speed and correctness of candidates on reaching the conclusions. Once you have a test like this one, you can be sure about the critical abilities of your candidates. These are the tests that are both used as pre-employment test and promotion test. If you are recruiting some candidates for some important roles in your business, you have to be sure about their calibre and effectivity. You have to take steps to ensure that they are absolutely equipped with some sound critical abilities. What is the point if they don’t have a critical vision towards things? What is the point if the candidates are unable to tackle with a p [problem in an efficient manner? it would be a good thing to know about these calibres of your candidates before you change them into your employees.
Problem solving & decision making
The most important ingredient of an effective business setup is problem solving skills. If your candidates are good at their respective areas and tasks but they don’t have a neck at solving problems that won’t be a good thing for your business growth. You have to possess the right employees who know how to deal with the problems in the most prolific manner. Problem solving is really crucial in this present world. Anytime you can encounter a problem in your work and you should have some skills and knowledge to tackle with the situation. If a problem does not get solved within time and efficiently, it can be disastrous for your business. When you have critical Reasoning Test in your recruitment drive, it would assess the problem solving capabilities of the candidates taking part in the hiring drive.
Then decision making is another important ingredient of productive staff. No matter how skilled or intelligent your employees are; if they don’t have the skills to undertake the things and take decisions when needed; they won’t be an asset to your business. There are always instances when you have to take decisions to ensure that the business grows. If your employees hesitate to take decisions and they simply delay the things for this reason, it can turn out to be a loophole for your business growth. It is important that your staff members have the guts to take decisions when the need arises. In the absence of decisions, nobody can gain any effectiveness. Your business can collapse like a house of cards in the absence of decision making skills. Hence, there is a lot of prestige and importance associated with this attribute. You can make sure that your candidates have professional skills and knowledge to deal with the problems and take decisions with the help of critical testing. These tests are designed to get you the best information.
Even if you have some specific demands with the tests, you can always go for the customised versions of your critical tests. These critical tests are available in abundance and you can pick as per your requirement. However, if you want some specific things to be added or removed from the test, you can always get the test customised. In this way, you can be sure that your candidates are getting measured in the most prolific manner. There are many businessmen who use these tests to ensure that they are testing the areas of the candidates that matter the most to their business. Tests are always result oriented and get you the clear picture.
No partiality in critical tests
Many people have a doubt about the impartiality of the tests. Well, if you are new to the concept of pre-employment critical tests then it might surprise you that these tests are made in an exclusive manner. The tests are absolutely effective and not at all partial. Since the test has all questions same for everybody, there is no doubts about the genuineness of the test. Similarly, even the recruiters cannot do anything in this aspect. All the candidates give this test and then end up with a score as per their calibre and intelligence. On the basis of these tests, the recruitment team make a decision. Certainly the pre-employment test is blended with the interview and resume too. Maybe there is some amount of possibility of partiality in interview but not in these pre-employment tests. Scores are clear for everybody to see and whoever scores better, gets a seat in the next level of recruitment procedure.
So, in this complex and competitive world, critical thinking test is must for employees. You have to make sure that your staffs are equipped with critical thinking skills and for this you can use the best tests during the recruitment drive.
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