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Not sure about poison pill question it was either 6 or 8 points. I did the same and used 40% to calculate equity/ debt value.
This is my 4th attempt at this paper and it seemed the easiest so far, but that could well be due to all the extra hours studying I’d put in. I just hope for a pass, this is my last exam,. I got 9% but it’s probably only worth 3 or 4 marks. Also I forgot to add depreciation back into which ever question it was we had to deduct it on. I left a couple of questions unanswered, couldn’t remember what a posion pill was.
This is going to be my forth attempt at P4 and I’m feeling really stressed out as well. It is by far the most difficult paper I have studied. There is a lot of information to remember, and I’m not doing a very good job at remembering it. 🙁
Passed first time with 51! So relieved, just P4 to go, it’ll be my 4th attempt in March!
I also got 46 in June, I started on Q4 and completely run over on time. I stupidly started Q3, got completely stuck, spent far too much time and was left with an hour for Q1, didn’t read the question properly and messed it up. I did pretty much the same in June, so I’m expecting a similar result. The problem for me is definitely the length of the question, I don’t feel like I have time to read it properly. How many times has everyone else sat this exam? This is my 3rd time, it’s becoming embarrassing.
This was my 3rd attempt at this paper. I’ve never had to resit 3 times and won’t be surprised if I have to do a forth attempt. I struggle to read the whole question it’s so long… I started my calculations for q1 to realise they had already been calculated for me on the second page. I wasted 20 minutes. Q4 was my favourite but couldn’t think of 7 points for 4b. Nightmare paper, I seriously do not want to sit the damn thing again. I passed F9 with 80% and thought P4 would be a breeze, oh how mistaken I was!
I also got a negative NPV and loss on futures, although I can’t remember the amounts. I got share price in Q1 at 4.18 but thought I was miles out so I didn’t do the other calculations and consentrated on the written parts.
Hi Duc, what mark did you get in F9 to be a prizewinner! Congratulations on that! I got 80 which is why I chose P4 but I’ve left it too long since sitting F9 and P4 is so much more difficult!
I thought the paper was fair, although I’m not sure if I’ve done enough to pass. I got half way through Q1 and moved on as I thought my calculations were wrong. I made a mess of Q3 and I just hope the marker can read it.., I crossed out so much… wasted a lot of time on it. Q4 on interest rates… I think it was ok but not sure my premium calculations were correct. It’s such a relief it’s over, I hope I don’t have to sit it a third time!
I’m going to prepare for a fail and start studying P4 again for June…. I don’t want to risk forgetting everything I’ve learned.
I got 80% in f9 so thought P4 would be ok for me…it was the hardest exam I’ve ever sat and it’ll be a miracle if I scrape 50… worst exam of my life… for everyone else that thinks they’ve failed… do you wait for the result and then start studying? … or start studying again now?
good luck to all!! I’m praying for a pass!! I don’t know wether to go to bed or wait up… I might not sleep if I’ve failed ?
I got 28% arr. q4 The debt/equity ratio for book value was over 30% and MV was about 19% I think. For he WACC I got 9% including the overdraft and 9.6% not including the overdraft. The MV of bond I think I got 111.14.
Company valuations in q4 I got i 160k, ii approx 90k, iii approx 161k iiii approx 233k. From what I recall there were 2 questions that had a written on interest rates and what could happen, which I thought was very strange?
I showed the fixed inv costs as a fixed cost in years 1-4 and I inflated them By 2% per year, I have a feeling it should be more complicated than that cause the question was worth 12 marks.