*** F9 December 2014 Exam was.. Instant Poll and comments ***

I am devastated. I worked really hard but unfortunately I am not confident at all.

MCQ’s were very hard compared to BPP’s revision kit and I did ALL of the MCQ’s in the revision kit plus the ones on iPass.

These ones were on another level. Plus lots of things that were not in the text book.

Good luck everyone. I think I have told myself already that I am re writing in June.

Mcq was brutal. Reverse yield gap? Never heard of it, ever. Not in my study notes at all. Found it in my study book, five lines buried in the middle of a 450 page text-heavy book.

Definitely failed.

The paper over was ok for me.

First question I attempted was the NPV…. Careful inflating my cash flows. I had to go with my gut on whether of not to inflated in interest on the loan… And I did because It is a fixed cost. Got and NPV of 2 millions or something!

Cash budget was good

Fx was a little tricky…. Had to read over the requirements like 5 times! I compared the spot rate of the receipt and then the forward which resulted in a net LOSS…

the WACC was a little time consuming for me…. Mainly on the Cost of debt part… Overall I believe I got 11% (maybe from my rounding.) can any one tell me if the wacc under both method got extremely different WACC…?

Also the discussion on the invest in shares when there is a cash surplus… I said yes and discussed why! Idk if that’s correct…

Over the paper is ok! Idk how to feel but I believe I’ll pass…. Share your thoughts guys.

@kermillia said:
The paper over was ok for me.

First question I attempted was the NPV…. Careful inflating my cash flows. I had to go with my gut on whether of not to inflated in interest on the loan… And I did because It is a fixed cost. Got and NPV of 2 millions or something!

Cash budget was good

Fx was a little tricky…. Had to read over the requirements like 5 times! I compared the spot rate of the receipt and then the forward which resulted in a net LOSS…

the WACC was a little time consuming for me…. Mainly on the Cost of debt part… Overall I believe I got 11% (maybe from my rounding.) can any one tell me if the wacc under both method got extremely different WACC…?

Also the discussion on the invest in shares when there is a cash surplus… I said yes and discussed why! Idk if that’s correct…

Over the paper is ok! Idk how to feel but I believe I’ll pass…. Share your thoughts guys.

loan or interest should not be included in NPV as far as i know…

The two revision meant what you did differently when you redrafted the npv calculation. One of them for sure was the depreciation. The junior accountant included it as part of the original calculation and another was the inflation…I think

The new exam system of MCQ is really good. It saves a lot of cost for ACCA.
But it is not so good for students.

There is a lot of problem in explaining our answers and do not give us a flexibility to present our concepts. Eventhough our numbers can be wrong but our concepts can be correct. And that’s what mattered previously.

The questions asked in F9 MCQs were a disaster. 70% of the MCQs were tricky and involved very complicated terminology, which required a lot of time to digest for interpreting the result.

Thanks

Same

the multiple choice questions were brutal – i only knew about 4 of them with any confidence. another 8-10 i worked out with a reasonable attempt and the others were complete guesses.

most of them i had never read about or heard of, and i would be sitting there thinking “ok, i think it is number 2” – but number 2 came up in the option to pick 1 & 2, 2&3 or 1,2&4 – i was then sat there trying to make sense of the other statements not having a clue, so was a complete guess.

annoyingly, some of the questions said “which of the following statements ARE correct” and then gave an option to pick more than one statement, and then some questions (question 6 was one of them) said “which of the following statments IS correct” – which would imply you only picked one statement, but i was sat there thinking it is definately D, but i am sure it is B as well – but were we only supposed to pick one letter when there wasn’t an option to pick more than one?

after i navigated my way through them i thought the following:

question 1 was ok
question 2 was horrible
really liked question 3 and foreign risk (like that topic)
question 4 threw me when i first read through the paper – originally it freaked me out and i thought it was a huge question about relevant cash flows (incremental, future cashflows etc) – then i re-read it and realised it was a NPV question. annoyingly i included the loan interest in the answer 🙁 but, that will only be 1 mark wrong and i should still get plenty of follow through marks
question 5 was ok – wacc was ok, market value of wacc i completely lost it on, and the second part i just wrote loads about traditional theory, M&M with tax, pecking order theory, objectives of a company (to maximise shareholders wealth etc).

i am praying for 50%, but i fear i have ruined my chances with a horrible multiple choice question set.

MCQ #1 was a real bugger! I looked at it and know how to figure Price / divis / Shareholders Return etc etc but that really threw me… Thought if they are all like this I have no chance. I skipped it and found the rest to be fair but then returned after all of section B spent another 3-4 mins on it and guessed randomly ‘c’.

I didnt blindly guess any F7s even though I know some will be incorrect. But this one made no sense. Compared to the BPP revision kit the MCQs for both F7 and F9 were twice as hard 🙁 Just want 50% on both!

Exam was tough …. Not sure about MCQ answers, but saved it in my calculator by 1234 waiting for open tuition answers so that I can check them hopefully, I am gonna Pass.

When will u post the answer to us?
Please????

Npv was like this.
Sales VCs and fixed costs all needed inflating properly. It tried tricking you into thinking eg sales prices had already tried to have been inflated all from 25 but that wasn’t the case, none of the prices had been inflated.
I did include interest because it definitely was a relevant cost because it specifically said in the question ‘used to finance the investment’ but it was placed wrongly. As we know it should be sales less cost of sales equals profit, then we take off interest and this is the figure we tax. Then the deduct tax. The depreciation was calculated wrongly, had to be redone on a reducing balance basis. Once that is added back on, normal story from there and I ended up with 3 mil and something

Hello, MCQ where really hard some of the theory ones never heard them before.

Anyone remembers the answer for the MCQ the probabilty of income and the expected balance? It was like 0.7, 0.3,0.1, the last probaility the was negative.