The Conferment Ceremony is the highest celebration of academic achievement, where graduating masters and doctorates are formally conferred to their new academic rank and gain the right to bear the academic insignia (a ring and a wreath of laurels for Master’s; a hat, and a sword for doctors). The Conferment includes dinners, solemn processions, a formal Conferment Act in the university ballroom, lots of speeches, celebrations of education, science, and knowledge, and embracing the fellowship of the academic community.