*** December 2021 ACCA AFM exam – Instant Poll and comments ***

Does somebody remember any of your answers to crosscheck?
Don’t know if it’s a good idea as nothing can be done now but still…

Too close to call. It was mostly direct questions but the first aquisition question was information overload. Could have scored more if I hadn’t kept it for last. The APV and hedging questions were direct but it all hinges on my calculations being error free.
I feel like I’m going to get somewhere between 45 and 55.

had the same questions. Did you get a negative NPV and APV?

Q1 M&A as described above in the thread
Q2 Interest Hedge – FRA, Collars, Futures, smoothing
Q3 NPV/IRR/MIRR

how do you thiink how many marks can be lost if I put Initial investment in NPV calc to Y1 instead of Y0?

For Q2 which hedging did you find give the highest rate?

Negative NPV about 13m , negative APV about 2m I think. Did you?

GRA 6.3, futures 6.31 options 6.6. You?

But I recommend options as media reported probable reducing rates

I couldn’t decide between 8% and base rate, but I think both are acceptable. Yes, taxed tax profits abs calculated tax shields

JakeDoughty wrote:Negative NPV about 13m , negative APV about 2m I think. Did you?

Somewhere in the vicinity I think.

JakeDoughty wrote:GRA 6.3, futures 6.31 options 6.6. You?

FRA fixes the rate at 5 point something right? I hadn’t revised this part well enough.
Futures and options effective interest rate were mightily close, with options slightly worse. I’m probably wrong.

Who got Interest Rate Hedge for Receipt?
Do you remember your answers? Collars/Futures/FRA

I had collar. Could not remember exactly but futures>FRA>collar. Futures and FRA is around 4.1-4.2 and collar around 3.7% Did you get the same?

I’ve got the same figures)

The paper was not bad and was a fair paper in term of covering the course but there were issues in my test.

Like my test was not loading initially and invigilator asked to restart my PC, then when I relogged and signed in from the start to the end I had issues with the font.

However, after PC restart and relaunch of exam even they relaunched my test because of font but did not work.

Those PDFs or extracts of PDF for the question part not the requirement part was not readable. I have alarmed the invigilator couple of times but did not work later on, even when I was sending a message to them was not getting delivered or they were getting back to me or getting back in about a hour. Like for one of my messages in first hour they got back almost at the end of the test.

During the exam font issue made me to copy question data to word processor and read it there however the challenge was that, pasting the data to word processor was not in the same question format and extracting the data and concluding question details was difficult and time consuming. It impacted my performance definitely for numerical part and pressurized my paper attempt, running here and there, attempting this and that to score some mark but not being able to attempt all of the paper. I have struggled with time for my question 3 which was numerical question for the most part of it and ran out of time.

If a center-based exam was offered I would not have gone for online test because still it’s not offered in a quality, it should be. ACCA is also not considering the challenges and difficulties of the mode of offering and the technology issues the students are facing.

However, my test was ended at the end, and I have exited but was not able to send a message to the invigilator to report the issues to ACCA to compensate or if I could reschedule it my paper.

Therefore, it was not a favorable setting even attempting more 75% of the paper with all those challenges but my paper may have quality issues. Fingers crossed for a pass, but ACCA need to consider things like this which are beyond students’ control.

Best of luck to everyone setting Dec 2021 setting, hopefully this setting will add to your new year excitements. By the it was my last paper and if I pass it will definitely add excitements.