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it was a very very unpredictable paper……it was mainly focused on the non core topics
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Hardest acca paper ever done all that study and an exam like that comes up acca are a joke
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Wat do you think about Q5!!! It was a little confusing:(
Q1 and Q2 was quite ok.. bt still am hoping for 50mks..- Topics: 0
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I found the paper rather easy. Q 2 & 3 were based on the articles and if any one had read them properly, they were easy questions. Q1 and Q4 were rather straight forward. This paper had too much theory, i thnk aprox 65%. i barely used the calculator.
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@ zakkie securitized assets are the term discussed in Toxix assets article, it is practice used by companies to lay of their risk of bad debt by securitizing their debt by selling their debt to others, and usually special purpose vehicle organizations buy them.
Paper was 50 percent, Q2 and Q3 was from articles BSM and CDO’s- Topics: 0
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I laughed coming out of that exam….could not believe how horrible I did 🙁
I know it may be wierd, but what was the project time period for question 1? The gov’t wanted to achieve targets by 2030 but the asset’s lifespan was 30 yrs
Q3 was based on Bob Ryan’s article “Toxic Assets”. If you read that, you would have been fine. I personally didnt like how I answered that question. There was a interest rate swap inside there though, wasnt sure how it came into the question really. Q1 had me in stitches though. Q5 was my best question yet. I revised multilateral netting last night, only thing my mind started to fail me when it came to the advantages and disadvantages. Overall, the paper was Bob Ryan. His perfect exit exam! Confusing, and hardly anything that we were taught and were studying for.
Well what an exam to be sitting, I think he the examiner had enough of it and its really time we should enjoy something after all the long late nights and days of working all those questions. Thank God for saving us for the December sitting. Hope we do well in that.
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Q2 was fully disaster! That was not expected to mix the different things not related ro each other in one question. Assume, assume, assume…. It seems that examiner try ti find more and more different synonym to each ordinary words that we see during preparation. Very hard to understand what exactly examiner wants to see in answer… Very confusing exam. Is was the worst exam in respect of clear question presentation in ACCA.
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securitized certificates are something like collateral debt obligations?
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@zigot14 said:
Q2’s based on the latest tech article on option pricing.Did anyone think that the annuity factor formuia in Q1 was wrong?
I think the idea was that the exam question wanted to incorporate growth of cashflow inside the annuity formula? I just used it anyway since it was given.
For question 2 did anyone use Gordon’s growth model? eg. the Ke = 12.56% x (180/580)
question 2 was quite challenging.
i found the theory question surprisingly easy.
@ Studystudystudy……yes the securitized unrated certifcates were the in the first tranche……which accounted for 10% of the pool of funds, just as the question said. That would have been the first one to go in terms of the debt obligations…..they are like junk bonds etc. Tranche 2 which is mezzanine debt which accounted for 10% of the pool (B rated fixed rate loan notes). And the final one accounted for the difference. Well they said 95% of the pool were made into CDO’s the balance prob stayed as normal debt.
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its disaster for me too. i really confused with annuity formula in Q1, Q4 is very strange, i cant imagine any real situation of running a business with one section as coins and notes producing and other section manufacturing sweets for finance traders!!!!. Q5 was better but i lost all my time before i reach there. is examiner expecting us as a banking expert?. if u compare pass rate of P4 with all other papers, its handled by tough examiner.
Gordon’s growth model didnt even cross my mind. Geez! Praying for 50 yes. I tired.
The issue with this paper was that there were areas that we have encountered but the way it was presented in the exa was totally different which actually gives e the jitters!
Q1 is akin to Q17 in BPP fuelitie but what happens to dep siince they are talking of ‘annual surplus cash’?
Q2 option pricing but we have to deterine Pe on the basis of a coupon/ yield rate
Q3 Tranching has never been tested b4
Q4 Issues with deerger
Q5 Forex – netting
Well what can we do but pray for the best!!!- Topics: 0
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At the end of the day i don’t think the exam was suited for accounting students. It was more of the investment paper, which does not make much sense as majority of ACCA qualified do not work in Investment banking… Hopefully new examiner will be better unless I miraculously passed today’s exam…
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This is what P4 is famous for .. You study, study, and study, but then, at the end its all part of dream !! What comes up in an exam is totally out of the blue !!
I believe , BOB RYAN always test our nerves !! How strong we are to face something NEW !! Thats the real test base of a professional accountant ..
Ofcourse , The examiner knew him self we all ‘ve been studying forex, valuations and bla bla , why not testing and differentiating GEMS among us by examining something new ??
WELCOME TO P4 🙂
@studystudystudy said:
I think the idea was that the exam question wanted to incorporate growth of cashflow inside the annuity formula? I just used it anyway since it was given.For question 2 did anyone use Gordon’s growth model? eg. the Ke = 12.56% x (180/580)
Q1. Using the formula to find the annuity factor would result in a negative figure no?
Q2. Yup i did this for g too.
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I’ll be glad to see the back of Bob Ryan and his considerable ego.
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Question 2 was disaster…
My impression is that they just play the game “have you read the latest article? oh you have not??? than you fail”…
that is not professional way of examining…- Topics: 0
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I would like see those people who are saying the exam was easy?
how could its possible?
may be you guys should give us some advices !!- Topics: 0
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Surely it would be in ACCA PR interests to hit the ‘easy’ option several times on this survey so the exam doesn’t look like the joke it was in relation to they syllabus!
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Make that the syllabus
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Has anyone read Bob Ryan’s blog?
https://professorbobryan.blogspot.com/2009/11/fools-p4radise.html
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