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CIMA Official Website

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

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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%

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CIMA CIMAPRA19-F03-1 Exam Syllabus Topics:

SectionWeightObjectives
Topic 1: Sources of Long-term Funds25%- Capital structure theories and WACC
  • 1. Modigliani-Miller propositions
  • 2. Cost of capital calculation
- Equity finance
  • 1. Ordinary shares, preference shares, rights issues
  • 2. Flotation and listing methods
- Debt finance
  • 1. Bonds, loans, convertible instruments
  • 2. Leasing and sale-and-leaseback
- Dividend policy and distribution strategies
Topic 2: Business Valuation40%- Impairment testing and value management
- Valuation methods
  • 1. Relative valuation: P/E, EV/EBITDA
  • 2. Discounted cash flow (DCF)
  • 3. Asset-based valuation
- Mergers, acquisitions and divestments
  • 1. Financing and post-deal integration
  • 2. Valuation of target companies
- Investment appraisal
  • 1. Adjusted present value (APV)
  • 2. NPV, IRR, payback, discounted payback
Topic 3: Financial Policy Decisions15%- Interaction between investment, financing and dividend decisions
- Strategic financial objectives and stakeholder impact
  • 1. Taxation and regulatory framework
  • 2. ESG and ethical influences
  • 3. Financial objective setting
Topic 4: Financial Risks20%- Risk measurement and assessment
  • 1. Value-at-Risk, sensitivity analysis
- Types of financial risk
  • 1. Foreign exchange risk
  • 2. Credit and liquidity risk
  • 3. Interest rate risk
- Risk reporting and governance
- Risk management techniques
  • 1. Derivatives: futures, forwards, swaps, options
  • 2. Hedging strategies

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