FM*** December 2025 ACCA FM exam – Instant Poll and comments ***

Hi everyone, I found the exam okay I think I would have just passed, personally I needed some more time for exam practice, but the free notes were really helpful , and reviewing them before the exam helped; as a few niche things came up in section A that were covered in the notes ! I was pleased that Invest appraisal and WACC calculations came up, the written parts for Q32 about capital structure I did struggle on, because my mind went blank. Any way , I wanted to say big thank you to John for his lectures and all at opentution. As Johns exam techniques outplayed in the exam were very helpful !

I think the exam was difficult. There was a question on Baumon model whihc really threw me off Also the multiple choice was a lot harder than mocks really hoping this exam can be put to bed

Yeah i agree. Was it the baumol model with $4.5m demand rather than units?

It's not hard at all its easily predictable you just have to practice section c 1 npv question is fully confirmed you will get it other one is either working captial or business finance and equity its Easy after you practice to a certain level section b you will get one related to risk one will be working captial if didn't come in sec c or business finace and equity if it didn't come in section c you only need 50 marks

This was my 2nd attempt and found it to be easier..i found section A alot easier after heavy practice and preparation. Sec B was harder and i was really short of time. Sec C was good NPV as usual and one on Factoring..so hope all is good this round.

Hello every one, Is there anyone can share Kaplan Exam Practise for FM?

So I sat the FM exam this December and as this is my last skill exam i am very worried about the result. How much can i score? In sec C 20 Marks was of Investment appraisal 6 Marks was NPV, 6 marks Capital Rationing and 8 marks of risk and uncertainty. I did the NPV calculation it was quite simple for capital rationing it said the project is not deferred what does that mean and for theory i wrote i) sensitivity analysis ii) simulation iii) Adjusted payback and iv) CAPM Another 20 marker was from Business finance 10 Marks was WACC which i have done but little unsure about IRR and another 10 marks was to critically discuss about the relationship with debt and gearing and include theories so i wrote M&M with and without tax and traditional view with their assumptions and criticized how we can reach them. Sec B is the one i am scared about there was Risk management from interest rate risk in 5 questions i have guessed about 2 of them other 2 scenarios i dont even remember which i got right or wrong as i was blindsided by interest rate risk question. Sec A was easy as per say i think i can score 16-18 marks. How much do you think i can score altogether