FM*** F9 June 2014 Exam was.. Instant Poll and comments ***

Is anyone here who did F9 uk??

ye. Was not too bed. Although my answer for q1 was so big and negative.

Yeah fingers crossed done enuff.

My q1 was negative as well, what about theoretical ex price? I ignored the issue cost. Any comments

What did you get for the NPV?

I gt negative 4600 somthing for npv I wrkd only on 000

I can't remember exactly but I think my NPV was about -$49k Thought exam wasn't too bad over all, no long questions, all nicely broken down into smaller marks. I was unlucky to develop a really awful headache 1 hour in & had to stop 10 mins before the end because I felt like I was going to be sick with the pain but I do feel like I've done enough to pass, hopefully! Such a long wait to find out :(

npv was something (233...) I made in million. TERP mine was 4.5 I think I made mistake and didnot deduct issue cost.

Honestly don't remember, too much was going on, but definitely checked my calculation twice.

My npv was positive 81.4, terp I got was 4.53 but I included the issue cost why did u ignore?

What did u guys get for WACC? And new Beta?

12.3 for the wacc? Ballsed the new beta up

Wacc was I think around 9 ish % Beta Q gt 12.7% at the end cost of equity or project specific cost

I'm not sure but I think my WACC was 12.26% does that ring a bell? Can't remember new beta but I can remember that my capm came out to be almost the same as WACC, maybe 12.25%???

I got 4.90 for TERP and NPV was negative 300 something

Don't know how you guys can remember anything! I got neg npv but can remember little else of my calculations. Best of luck xx

And I can't remember question 4. What was it again? Lol

Lol I feel the same. Can barely remember the questions.

I got npv positive because I used project E investment of 5m, but I dont know if this correct WACC around 12.4% Question 4a asked to check if company is meeting its 3 objectives for few years: TSR, ESP growth, PAIT growth

I also used the 5m investment for project E and got positive npv dunno if it was right to do so. Did people inflate there sp vc and fixed costs?

I got NPV 48 negative and Capital Rationing Max NPV 3900. Secondly my WACC was 11%

And yes we inflated SP, VC and FC

I did inflate sp, vc, fc each separately

Got NPV AROUND negative (23000) .total no . of new shares are 2500 (9400/4.7*.80) which gives total no of shares to 14500. total market value of equity 65800 (56400+9400). and terp $4.54 is it right

I cant remember my capital rationing but with project E zero my all NPVs were included and I didnt have to proportionate it

Ah I see, I got a negative NPV for project E but then when doing the rationing part it said to assume an NPV of zero so it must have expected us to use the $5m investment & decide where to use the remaining $5m which is what I did. I think it was E then D then C then $500k of A. Anyone else get that? Can't remember what my total NPV for that came out at though

I think project E, d c and 20% of the A was the mix

I know I got negative NPV for question 1, but remember nothing else! I do think it was a fair exam though. Just hoping I did enough to pass.

Crazy stuff! you spend 20 or 25 mins trying to get a perfect 13 (or was it 14?) marks on Q1 NPV and then have 10 mins at the end if your lucky trying to extract 8 marks out of talking about sources of debt finance for a quoted company, at least I think that was the question...? Good luck all.

Ps I did inflate the SP, VC & FC by (1+i) to the power of n, not sure if right though, did confuse me a bit because the SP & VC per unit were already increasing, haven't seen that before? My TERP was also $4.54 using same calc as you pakistan098