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It was my last exam and I passed with 86%!!! Over the moon to be ending on such a high! Congrats to everyone else who passed and those who didn’t, don’t give up!!
Passed 60% on my first attempt! I’m over the moon, it was my first P paper so was nervous as i know it’s a hard one. P1 and P3 next then my options!!!! Eek!
For business risk and financial risk you needed to write about how business risk is measured by operational gearing (contribution / PBIT I think) and that there’s always going to be business risk but it depends on the type of business etc. Financial risk is measured by financial gearing (debt/debt+equity) and I wrote about some of the theory’s – traditional theory and M&M etc. – although not sure if I went into too much detail.. can’t remember how many marks it was for but I’m confident I covered everything 🙂
@beckyspace said:
Section C was like Merry xmas enjoy so not difficult.
but MCQ was like f***** it! I didn’t have a clue so guess my way through them.
Because I guessed them had plenty of time to memorised them as below:
1 A 11 A 21 A
2 B 12 B 22 B
3 D 13 C 23 B
4 C 14 C 24 A
5 C 15 D 25 B
6 C 16 D 26 A
7 D 17 D 27 D
8 A 18 C 28 C
9 C 19 D 29 C
10 c 20 A 30 DI also did noticed MCQ 27 partly answered one of the section C question on two ways of incorporation risk in to investment appraisal.
The answer was probability and sensitivity analysis.
for the NPV I had a very huge figure like never before which made me think I had done something wrong but looking at the NPV values of the subsection b which was about PI I concluded i was probably right.My Wacc was 10…. something.
the business and financial risk wasn’t quote sure what to write any one?For business risk and financial risk you needed to write about how business risk is measured by operational gearing (contribution / PBIT I think) and that there’s always going to be business risk but it depends on the type of business etc. Financial risk is measured by financial gearing (debt/debt+equity) and I wrote about some of the theory’s – traditional theory and M&M etc. – although not sure if I went into too much detail.. can’t remember how many marks it was for but I’m confident I covered everything 🙂
I know it was only this morning but my mind has already gone blank because I’ve gone into Christmas mode now that exams are finally over!!!
What were the 20 marks on again?
I know there was a WACC for 11 marks, the NPV for 8? Was it? Then the written parts were about explaining a rights issue, describe two ways to identify risk in an NPV or something (I did IRR and Sensitivity)
What were the others? Overall I think I did ok with section C – confident I could get full marks for question 32. Although I know my WACC was slightly out as my mind went blank about the cost of preference shares… confident on my market values though I think 🙂
@vipulv said:
Dividend MCQ anyone? Baffle me thinking its not correct as it said forcast dividendscurent year 0
year 1 0
year 2 they have
year 3 they gave
gave you KE and growth 3%
I got 7. something A anyone same?
Yes $7.25 I think it was, I got that too!
@vipulv said:
This sounds more like mine though my first one defo C. Last was A lol do you remember any questions?50000 n resell 80000 profit 7000 something?
6000 benefit
ROCE or interest think i chose neither D
Yeah I think I got $6000 benefit too. I think i chose ROCE would increase but interest cover would have decreased but only because I world that out (didn’t work out ROCE so guessed)
One of them was about share prices and I got $7.25
And another you had to select a % increase or something and I remember I got 0.24% (think it gave you a figure you sold to a bank then bought it back 90 days later or something)@vipulv said:
I chose 2 and 4Yes I answered the same, reduce tax and create more transport links!
My MCQ answers were B C D C D C A A C A B A C A A B B A B A (I wrote them down before I came out, I’m not just crazy and remembered them all lol!)
I got that the increasing minimum wage wouldn’t help (as it’s going to increase the money they pay out) I can’t remember the other options, if you can remember them let me know and il tell you what I got ?
I agree NPV was easy I’d really practiced that so I’m really happy it came up! Found WACC ok too, but I’m sure I got 14.62% as my WACC which isn’t good! I found it easy apart from the Pref Shares though so that’s definitely what messed my calc up. Hopefully I still get marks for my workings. I thought the MCQs were OK but Iv got different answers to above, lots of Ds I wrote them down somewhere up post what I got later.
Thanks John.
I meant the longer written questions as I know Section A tests the whole syllabus.
I’m currently using your lectures and find them so much more helpful than BPP (who I studied with in June 2015 & September 2015).
Failed June 15 with 35% and September 15 with 44% so I hope I manage to get through this one on Friday.