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Topics of the CIMA F3: Financial Strategy Exam

CIMA F3 exam dumps included the following topics:

  • Financial policy decisions 15%
  • Sources of long-term funds 25%
  • Financial risks 20%
  • Business valuation 40%

Reference: https://planner.cimaglobal.com/proqual/2019/strategic/F3

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To prepare for the F3 exam, candidates are advised to study the CIMA syllabus and to supplement their learning with relevant textbooks, practice questions, and online resources. Candidates may also wish to attend CIMA-approved training courses, which are available in a variety of formats, including online, classroom-based, and self-study options. By passing the F3 exam and completing the CIMA Professional Qualification, candidates can demonstrate their expertise in financial management and strategy, and enhance their career prospects in a wide range of industries and sectors.

CIMA CIMAPRA19-F03-1 Exam Syllabus Topics:

SectionWeightObjectives
Sources of Long-Term Finance25%- Optimal capital structure
  • 1. Impact of gearing on risk and return
    • 2. Practical determinants of capital structure
      - Equity finance
      • 1. Types of equity and issue methods
        • 2. Cost of equity and capital structure theories
          - Debt and hybrid finance
          • 1. Leasing, convertibles, and warrants
            • 2. Types of debt, terms, and covenants
              Investment Appraisal and Decisions25%- Risk analysis in investment decisions
              • 1. Cost of capital estimation and adjustment
                • 2. Sensitivity, scenario, and simulation analysis
                  - Advanced investment appraisal techniques
                  • 1. Adjusted present value and real options
                    • 2. Discounted cash flow, NPV, IRR, MIRR
                      Business Valuation20%- Pricing and negotiation
                      • 1. Determining offer price and terms
                        • 2. Post-transaction value creation
                          - Valuation concepts and purposes
                          • 1. Valuation for listing or equity issuance
                            • 2. Valuation for mergers, acquisitions, and disposals
                              - Valuation methods
                              • 1. Relative valuation and market multiples
                                • 2. Asset-based, earnings-based, cash flow-based
                                  Financial Policy Decisions15%- Dividend and distribution policy
                                  • 1. Practical considerations and constraints
                                    • 2. Theories of dividend relevance
                                      - Strategic financial objectives and governance
                                      • 1. Role of financial strategy in overall corporate strategy
                                        • 2. Agency theory and stakeholder interests
                                          Financial Risk Management15%- Risk mitigation and hedging strategies
                                          • 1. Internal controls and risk policy frameworks
                                            • 2. Use of derivatives: forwards, futures, swaps, options
                                              - Types and sources of financial risk
                                              • 1. Credit and liquidity risk
                                                • 2. Interest rate, foreign exchange, commodity risk
                                                  - Risk measurement and assessment
                                                  • 1. Value-at-Risk, duration, gap analysis

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