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CIMA F3 certification exam is a challenging but rewarding qualification for anyone seeking a career in finance. With its focus on financial strategy and decision-making, the certification provides candidates with the skills and knowledge they need to succeed in a highly competitive industry.

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.

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CIMA F3 exam is a computer-based test that consists of objective questions. F3 exam is designed to be challenging, and candidates are required to demonstrate a high level of knowledge and understanding of financial management and strategy. F3 exam is also timed, with candidates having three hours to complete the test. Candidates who do not pass the exam on their first attempt can retake the exam at a later date.

CIMA F3 Exam Syllabus Topics:

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

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