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For more information visit

CIMA Official Website

Salary of CIMA F3: Financial Strategy Exam

United States: 90,000 USD Europe: 77,500 Euro India: 6,750,000 INR England: 66,500 Pound

Cost of the CIMA F3: Financial Strategy Exam

The cost of the CIMA F3: Financial Strategy Exam is 300 US Dollars.

Reference: https://planner.cimaglobal.com/proqual/2019/strategic/F3

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CIMA CIMAPRA19-F03-1 Exam Syllabus Topics:

SectionWeightObjectives
Financial Risks20%- Types of financial risk
  • 1. Interest rate risk
  • 2. Foreign exchange risk
  • 3. Credit and liquidity risk
- Risk management techniques
  • 1. Hedging strategies
  • 2. Derivatives: futures, forwards, swaps, options
- Risk reporting and governance
- Risk measurement and assessment
  • 1. Value-at-Risk, sensitivity analysis
Sources of Long-term Funds25%- Capital structure theories and WACC
  • 1. Modigliani-Miller propositions
  • 2. Cost of capital calculation
- Dividend policy and distribution strategies
- Equity finance
  • 1. Ordinary shares, preference shares, rights issues
  • 2. Flotation and listing methods
- Debt finance
  • 1. Leasing and sale-and-leaseback
  • 2. Bonds, loans, convertible instruments
Business Valuation40%- Impairment testing and value management
- Investment appraisal
  • 1. NPV, IRR, payback, discounted payback
  • 2. Adjusted present value (APV)
- Mergers, acquisitions and divestments
  • 1. Valuation of target companies
  • 2. Financing and post-deal integration
- Valuation methods
  • 1. Asset-based valuation
  • 2. Relative valuation: P/E, EV/EBITDA
  • 3. Discounted cash flow (DCF)
Financial Policy Decisions15%- Interaction between investment, financing and dividend decisions
- Strategic financial objectives and stakeholder impact
  • 1. ESG and ethical influences
  • 2. Financial objective setting
  • 3. Taxation and regulatory framework

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