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@lunix: I had no more time to read the question, so might be a liquid source and you are right with your argumentation. I just wrote in the last 3 or 4 minutes standard comments on high volume sales hoping they would fit.
I agree to teddy, core topics of P4 were asked, no special things and nothing intellectually challenging at the end… But for me difficulty was time management and avoiding mess (3 ccys, large numbers, long inflating calculations) as well as untypical question wording, requiring more time for me to simply understand the question.
I guess I simply did not put enough effort in studying.
I don’t know if you noticed but people are not complaining about the difficulty of the exam itself, but mainly about the time allocation vs amount of calculations involved. I don’t believe the exam was difficult. I just can’t do it within 3 hours time no matter how much I prepare for it, which is extremely discouraging for me and many people out there
Yes, I noticed. And the (my?) inability to complete the exam in the 3 hours will also lead to my failure. This exam was the worst that could happen to me, I like mathematics and thinking, not using my calculator.
The exam was testing time management and ability to keep overview on mess, not much more in my opinion.But what I can also say on my experience during learning: for this kind of messy questions I really improved my speed while practicising. Unfortunately not enough at the end…
Up to now, I am optimistic that special training on these time consumption questions will enable to solve such a messy paper in 3 hours with the needed 50%.
Maybe I will reverse this impression when I get a result of 30% 😉@Elia-Shar-eK
Thank you for the mental support 🙂
What you described happened to me in F9… I attempted approx 70% of marks and reached 62%… no clue how this happened…
Here I attempted the same %, maybe 75% of marks, but I also know some bad mistakes I did within the possible ones… reducing the likely outcome dramatically
But whatever will be the result, I know what and how to improve. And that’s a good thing 🙂
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I attempted 100% of the exam – which meant I left the majority of Q3 and Q4 unfinished being able to only write two or three responses at most.
At one point I didn’t even bother putting numbers in my calculator. I just wrote rough estimates so I could get a final figure to discuss.
”Daikon Co is expecting to borrow $34,000,000 in five months’ time. It expects to make a full repayment of the
borrowed amount in 11 months’ time. Assume it is 1 June 2015 today.”Based on this information– what should be the no of contracts for Q4? My one came 125 but I am getting a feeling that it is wrong and the right one will be 68. Anyone?
Folks if it makes anyone feel better. If you attempt 75% of the exam and score 70% of that you would still pass.
Not outside the realms of possibility.
^ exactly, don’t despair. I took this ridiculous exam in December 2014 and attempted only 75% of the question with half of each of the 2 optional questions attempted. Was sure I was going to fail and I was so upset because I actually liked and understood P4 overall, just didn’t have time to apply knowledge in the December sitting. Somehow I passed with 64%. And this, despite being sure I made tons of calculation mistakes in Q1 – for goodness sakes, I made up a standard deviation figure! As long as your written responses are solid and justify your calculations appropriately, you have a chance, and you do have a chance (like me) even attempting only 75% of the paper.
Good luck!
P5 is no easier, and sadly there is no wisdom in just switching papers… In my opinion and having sat P5 today, the P4 paper was easier. There will always be people who find the paper easy, however, I don’t think anyone can knock others down or switch without having received the final mark!
Hi, from the scenario, “… Daikon Co is expecting to borrow $34,000,000 in five months’ time. It expects to make a full repayment of the borrowed amount in 11 months’ time. Assume it is 1 June 2015 today. … The contract size is $1,000,000…”
The number of contract will be Amount to be hedged/Contract size x duration of the borrowing/3.
The duration of the loan is 11months – 5months = 6months. This will give you 68 contracts ($34,000,000/$1,000,000 x 6months/3)
Thanks.
When can we get suggested answers for P4 June 2015 sitting? @Moderator –Please reply.
We don’t provide suggested answers for the P level exams. The ACCA will publish the official answers on their website in a few weeks time.
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Jun 15 Q4 interest rate risk easy than last diet and Q3 (a)(b) same equal to Dec 11 Q4(a)(b)
Q3(b) is belong to Dividend Policy. I only done the pass paper. So I feel that the paper is easy than last attempt.In my opinion, the exam was OK.
I did Q1,Q2 and Q4.
I’m not going to guess whether I passed or not, however I do think that this time the exam was much better than in December 2014.
By the way, try the questions of the previous P4 examiner and you’ll see that the previous one was much worse. The previous examiner had tended to make things more complicated that they actually are. Just recall the question “BBS stores”…..
Thus, ACCA should NOT replace the current examiner.
He’s able to improve his exams, given that this one is much better than the previous.can any one plx tell NPV was positive or negative?
My ans was negative ,i m bit worried
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at800 i agree with you,i think for you to pass you need to improve your time management skill.Otherwise this examiner’s papers can be followed through.Where i think i messed is on time management. I answered Q1,Q2 and about 24% of Que 4.Time management
p4 was too hard, i can’t see meaning in testing calculations, not knowledge. I’m regret time spent on preparation to this exam, waste of time, mark allocation weren’t subdivided properly in Q in order to help students. Why examiner need to test interest rate and FOREX risk in one sitting, no other topics to test. I suppose examiner aimed to fail as much students as possible…..
how anybody cope with royalty….amount 20mln was excessive i think to include in NPV calculationRoyalties were not relevant in NPV calculations. Apparently it should have been in US based calculation. I thought it was a red herring and just mentioned it in the comments as part of red tape.
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Royalties excluded from the foreign cash flow but bought back into domestic and taxed at domestic rate
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Hi guys
I attempted 60% last Dec and got 56. So enjoy your day and hope for the best.
Q1. This took my two hours and i even left the last six marks so i could touch others.
I only stop the NPV at YR value and use 12% DCF. I need the remaining one hour
to attempt the other two.
Other risk i mentioned were: Exchange rate, probability, Political – change of Govt.,
Social/environmental as a result of the school. I suggested the use of Sensitivity
Analysis could be better etc.q2. Dark pool is a securities trading platform for block deal so as not to sensitize the
market.
I calculated some ratios like Margin, ROCE, EPS, Ke, gearing etc. About 90% of
which shows serious decline while the Ke was increasing (signifying more return
demand by the shareholders). I suggested Oden should SELL (Divest) since the
stock is 16% of the portfolio which is significant.q3. Time was seriously against me as i have just 15 minutes left. I just answer the “a” 5
marks before being asked to stop.Generally, i think this diet is far better than December (my first attempt) which was
the worst mark i ever get in all my professional exams (27 score).The Paper was hard..the major major problem that i see is that in Q1 there was alot of information to be considered in NPV calculation and that was time consuming.The examiner should consider that the paper should should be in a such a way that a student can complete all the question.I bet if any examiner is given such a paper to write within the 3hrs exam they too cant manage to finish all the questions
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