CIMA F3オンライン試験 & F3勉強ガイド

ちなみに、GoShiken F3の一部をクラウドストレージからダウンロードできます：https://drive.google.com/open?id=1fGPU_zyE7cAjsA26Gy9exONOny0ke-H3

我々の目標はF3試験を準備するあなたにヘルプを提供してあなたに試験に合格させることです。この目標を達成するために、我々は時間とともに迅速に発展しています。だからこそ、我々の専門家たちの研究と分析によって開発されたF3問題集は高質量で的中率が高いですから、我々はあなたのF3試験に一発合格できるのを保証しています。

CIMA F3 Exam Syllabus Topics:

SectionWeightObjectives
Topic 1: Financial Risks20%- Currency Risk Management
  • 1. Translation exposure
  • 2. Hedging techniques
  • 3. Transaction exposure
- Interest Rate Risk Management
  • 1. Interest rate derivatives
  • 2. Forward rate agreements
  • 3. Interest rate exposure
- Risk Identification and Assessment
  • 1. Market risk
  • 2. Liquidity risk
  • 3. Credit risk
Topic 2: Business Valuation40%- Business Valuation Techniques
  • 1. Asset-based valuation
  • 2. Discounted cash flow valuation
  • 3. Earnings and market-based valuation
- Mergers and Acquisitions
  • 1. Financial implications
  • 2. Strategic rationale
  • 3. Acquisition financing
- Post-Transaction Issues
  • 1. Value realization
  • 2. Performance monitoring
  • 3. Integration planning
Topic 3: Financial Policy Decisions15%- Development of Financial Strategy
  • 1. Investment decisions
  • 2. Dividend decisions
  • 3. Financing decisions
- Strategic Financial Objectives
  • 1. Shareholder wealth maximization
  • 2. Stakeholder objectives
  • 3. Financial and non-financial objectives
Topic 4: Sources of Long-Term Funds25%- Equity Finance
  • 1. Rights issues
  • 2. Ordinary shares
  • 3. Private placements
- Capital Structure and Dividend Policy
  • 1. Capital structure theories
  • 2. Dividend policy theories
  • 3. Cost of capital
- Debt Finance
  • 1. Bank borrowing
  • 2. Lease finance
  • 3. Loan notes and bonds

>> CIMA F3オンライン試験 <<

F3勉強ガイド & F3最新受験攻略

CIMAさまざまな顧客がさまざまなニーズを持っていることを考慮して、3つのバージョンのF3テストトレントを提供しています。PDFバージョン、PCテストエンジン、およびオンラインテストエンジンバージョンです。 ウェブ上のF3 Financial Strategy試験問題の最も有利なデモの1つは、Q＆Aの形式でPDFバージョンで書かれており、無料でダウンロードできます。 この種類のF3試験準備は印刷可能で、ダウンロードにすぐにアクセスできます。つまり、いつでもどこでも勉強できるので、移植性があります。 そして、F3トレーニングガイドのGoShiken無料デモを試してみると、すばらしい品質がわかります。

CIMA F3 Financial Strategy 認定 F3 試験問題 (Q46-Q51):

質問 # 46
The ex div share price of Company A's shares is $.3.50
An investor in Company A currently holds 2,000 shares.
Company A plans to issue a script divided of 1 new shares for every 10 shares currently held.
After the scrip divided, what will be the total wealth of the shareholder?
Give your answer to the nearest whole $.

正解：

解説：
7000


質問 # 47
Company WWW is considering making a takeover bid for Company KKA Company KKA's current share price is $5.00
Company WWW is considering either
" A cash payment of $5.75 for each share in Company KKA
" A 5 year corporate bond with a market value of $90 in exchange for 15 shares in Company KKA
Calculate the highest percentage premium which Company KKA shareholders will receive.

正解：C


質問 # 48
Company A has just announced a takeover bid for Company B. The two companies are large companies in the same industry_ The bid is considered to be hostile.
Company B's Board of Directors intends to try to prevent the takeover as they do not consider it to be in the best interests of shareholders Which THREE of the following are considered to be legitimate post-offer defences?

正解：A、C、D


質問 # 49
Company HJK is planning to bid for listed company BNM
Financial data for BNM for the financial year ended 31 December 20X1:

HJK is not forecasting any growth in these figures for the foreseeable future Profit and cost data above should be assumed to be equivalent to cash flow data when answenng this question.
Which THREE of the following approaches would be most appropriate for HJK to use to value the equity of BNM?

正解：B、D、E

解説：
Explanation (concise):
To value the equity of BNM appropriately, HJK can use:
D). Share price × number of shares in issue
This is simply the market capitalisation, i.e. the current market value of equity.
A). Cash flows of $24 million discounted at the cost of equity
Discounting cash flows available to equity holders (free cash flow to equity) at the cost of equity is a standard equity valuation approach under CIMA F3.
E). Cash flows of $30 million (= $40 million net of tax at 25%) discounted at WACC minus the value of debt Here, $30m is effectively FCFF = EBIT × (1 - T). Discounting FCFF at WACC gives the value of the firm; subtracting the value of debt then gives the equity value.
Option B double counts retained profits (already reflected in the share price), and option C is based on the wrong cash flow definition for equity valuation.


質問 # 50
The directors of a unlisted manufacturing company have prepared a valuation of their company using the price-earning method.
Their calculation is:
Value if the company's equity = $6 million x 10 =$60 million where.
* $6 million is the company's reported profit before interested and tax in the most recent accounting period and
* 10 is the average price-earnings ratio for all listed companies
Which THREE of the following are weakness of this valuation?

正解：B、C、D


質問 # 51
......

競争力が激しい社会において、IT仕事をする人は皆、我々GoShikenのF3を通して自らの幸せを筑く建筑士になれます。我が社のCIMAのF3習題を勉強して、最も良い結果を得ることができます。我々のF3習題さえ利用すれば試験の成功まで近くなると考えられます。

F3勉強ガイド: https://www.goshiken.com/CIMA/F3-mondaishu.html

ちなみに、GoShiken F3の一部をクラウドストレージからダウンロードできます：https://drive.google.com/open?id=1fGPU_zyE7cAjsA26Gy9exONOny0ke-H3