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Cost of the CIMA F3: Financial Strategy Exam

The cost of the CIMA F3: Financial Strategy Exam is 300 US Dollars.

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

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Format of the CIMA F3: Financial Strategy Exam

  • Length of Examination: 90 minutes
  • Format: Numerous choices, multiple responses
  • Number of questions: 60
  • Language: English
  • Passing score: 70 percent

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CIMA CIMAPRA19-F03-1 Exam Syllabus Topics:

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

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