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- October 31, 2023 at 1:48 pm #694242
Pass with 59! Sixth attempt! Just don’t give up)
September 8, 2023 at 9:53 pm #691775Q1 – APV for 21 marks!!! Got NPV and APV negative. KE 12%.
Discussion of difference between APV and NPV and why APV is better. Investment decision.Q2 – BS PL analysis of firm with ratios and trends for 20 marks out of which 10 marks is given for ratios and trends. Also, it was required to identify/state missing information in order to expand the analysis.
Q3 – Acquisition with free cash flow to equity. 2 scenarios from CEO and finance director (CEO seemed to be showing behavioral finance). Maximum amount to be paid to target’s directors. Discussion of 3 strategies against the takeover provided by the directors of the target company (legitimacy and effectiveness) – finding competitor, some kind of questionnaire and legal obstacles by creating a negative assumptions on employees and clients.
March 11, 2023 at 10:37 am #681087Q1 was about Joshua Co acquiring Fraser Co. Huge chunk of theory including agency issue, concerns and assumptions of management and share buyback in the context of liquidity issues, potential covenant breach and so on.
Q2 was about Numium Co regarding the NPV with positive 1.4 million result. Capital rationing (totally forgot about multi period capital rationing) and imposing soft capital rationing as the company was not using hard capital rationing.
Q3 Interest rate hedge of USD 96 million. FRA, Interest rate future, Collar and Swap. It was quite a disaster for me(((
March 11, 2023 at 10:29 am #681086There was a gearing level 30 debt 70 equity pre-acquisition. The post-acquisition kept the same level of gearing. It was written in a tricky manner. Overall, my WACC was 10%.
October 14, 2019 at 6:30 am #549313Passed with 55%.
I would like to thank Chris Barlow! Chris, you are the best!!! Keep it up!!!July 16, 2019 at 1:21 pm #523854Failed with 43%. That was first attempt.
January 14, 2019 at 6:02 am #501536Passed with 54%.
It was the 4th sitting and 1st time I used OpenTuition. God bless OpenTuition and especially Chris!
It was my last F level exam, now proceeding to P level!
This is a huge relief!From now on, I will prepare only with OpenTuition.
Thank you one more time! - AuthorPosts