FM*** F9 June 2012 Exam was … Comments and Instant Poll ***

Q1 was ok.. Q2 was good.. Q3 was ok except islamic finance but i messed up on money rate calculation all because of time pressure.. Q4 was hell also i did rubbished on DVM and wacc.. I hope 4 a passed mark.. The questns was cheap but no reasonable time 2 attempt such questns properly! I need 2 disconnect my phone number from sms results 2 avoid high blood pressure after having time presure in the exam hall..

This exam was the worst. There should be balance between long answers and calculations. Long answers was like 80% of the exam. Format need to be change

@kamsingh01 said:
I think its unfair about how they word the questions. Question 4 was a nightmare.. you are expected to work out the P/E which is Share price / Earnings per share.. Yet they didnt give you the number of shares... I think everyone should write to the ACCA ( i have ) and say how unfair this exam was. They probably want us all to fail so we have to pay £80 resit fee. Remember ACCA is a business and need to make money. Maybe they should have given us a question of how Businesses con thier customers... i would use ACCA as my example and definately get 25 marks !!
Please can everyone email ACCA
Hopefully they would take our frustration on board and lower the pass mark slightly

PE is not necessarily share price/eps. You can also calculate it as total ordinary shares capital / total earnings. You don't really need number of shares to calculate that. Since the question asked for a valuation of the company, you could just take the PE ratio of the industry, make an adjustment to it if you want, and multiply it by the earnings of the company.

as in chapter buisness valuation the value of company can b calculate by multiplying the current avg p/e ratio of similiar companies to the corhig co into earnings of 1styear and growth rate of earnings

in Q#4 from the equity beta and the Debt and equity ratios we have to find asset beta then from that asset beta we have to find the new equity beta for the changed position of debt and equity then from that new equity beta we can calculate the WACC....
ahh the q was very easy but to my luck in ke calculation i used equity risk premium as equal to B(Rm-Rf) while it is only (Rm-Rf) :(
2nd mistake i did was that while running due to shortage of time i just 4get to apply (1-t) with D in the denominator of asset beta formula...:((
the paper was very very easy but alas i could not manage time well my marks may vary from 45 to 55 :(

All good except Q4. This is to fail the majority of students do that in this hard economic climate ACCA can make some money out of poor students. Otherwise there is no necessity of over complicating the questions. Some one above said you have to be above average to pass but I say to pass you just need to be average , and in real working life computer does it all and the rest are the matter of personal judgement and to remind all dumbos who boast that one need to be exceptional to pass Acca I would suggest them to study rocket science not Acca. Acca is for normal average people like majority of us

so that in this hard economic climate...... Shud be read like this. Thanks

WHEN CAN WE EXPECT THE ANSWERS TO BE OUT

Dear all,

answers are out: https://www.accaglobal.com/content/dam/acca/global/PDF-students/acca/f9/exampapers/F9_2012_jun_a.pdf

Yeah, I confirm I pass already :)