CIMA Related Exams
F3 Exam
The CIMA F3 exam syllabus encompasses a wide range of financial strategy concepts, including:
The CIMA F3 and P3 exams are part of the Strategic Level of the CIMA (Chartered Institute of Management Accountants) qualification, but they focus on different areas:
A company has:
• A price/earnings (P/E) ratio of 10.
• Earnings of $10 million.
• A market equity value of $100 million.
The directors forecast that the company's P/E ratio will fall to 8 and earnings fall to $9 million.
Which of the following calculations gives the best estimate of new company equity value in $ million following such a change?
A)
B)
C)
D)
Option A
Option B
Option C
Option D
A company's main objective is to achieve an average growth in dividends of 10% a year.
In the most recent financial year:
Sales are expected to grow at 8% a year over the next 5 years.
Costs are expected to grow at 5% a year over the next 5 years.
What is the minimum dividend payout ratio in 5 years' time that would allow the company to achieve its objective?
A company proposes to value itself based on the net present value of estimated future cash flows.
Relevant data:
• The cash flow for the next three years is expected to be £100 million each year
• The cash flow after year 3 will grow at 2% to perpetuity
• The cost of capital is 12%
The value of the company to the nearest $ million is: