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CIMA CIMAPRA19-F03-1 Exam Overview:
| Certification Vendor: | CIMA (Chartered Institute of Management Accountants) |
|---|---|
| Exam Name: | CIMA F3 Financial Strategy (Strategic Level Objective Test) |
| Exam Number: | CIMAPRA19-F03-1 |
| Passing Score: | 100/150 (scaled score, equivalent to ~60%) |
| Exam Format: | Computer-based Objective Test (OT), Case-based questions, Multiple-choice questions |
| Exam Duration: | 90 minutes |
| Certificate Validity Period: | No expiry for passed exams; CGMA designation requires ongoing CIMA membership |
| Real Exam Qty: | 60 questions |
| Available Languages: | English |
| Related Certifications: | CIMA P3 Risk Management CGMA Designation CIMA F3 Financial Strategy CIMA E3 Strategic Management |
| Exam Price: | £120–£150 (varies by region and testing provider) |
| Recommended Training: | BPP CIMA Courses Kaplan CIMA Training |
| Exam Registration: | CIMA Official Exam Registration (My CIMA) CIMA Exam Booking Information |
| Sample Questions: |  |
| Exam Way: | Computer-based exam delivered at authorised test centres or online proctoring where available. |
| Pre Condition: | Completion of CIMA Operational and Management levels is recommended (E3, P3, F3 sit within Strategic level of CIMA syllabus). |
| Official Syllabus URL: | https://www.aicpa-cima.com/cimaexams |
CIMA CIMAPRA19-F03-1 Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Sources of Long-Term Finance | - Equity and debt financing - Hybrid financial instruments |
| Financial Strategy Formulation | - Corporate financial planning - Strategic financial objectives |
| Mergers, Acquisitions and Corporate Restructuring | - Synergies and takeover strategies - Valuation principles |
| Dividend Policy | - Dividend theories - Dividend decisions and shareholder value |
| Financial Risk Management | - Foreign exchange risk - Interest rate risk |
CIMA CIMAPRA19-F03-1 Exam: FAQ for Serious Candidates
CIMA F3 Financial Strategy is an official CIMA (Chartered Institute of Management Accountants) exam, listed under exam code CIMAPRA19-F03-1. A passing result earns you the CGMA (Chartered Global Management Accountant) certification at the Professional (Strategic Level) level. It also ties into CIMA E3 Strategic Management, CIMA P3 Risk Management, CIMA F3 Financial Strategy, CGMA Designation, extending its value across your certification roadmap. Employers read this credential as verified competence, which is why it keeps appearing in job requirements.
Expect 60 questions questions inside 90 minutes on the CIMA F3 Financial Strategy exam. That pace punishes hesitation, so rehearse it: the ActualPDF software engine simulates the real exam scene, reminds you of the questions you got wrong, and pushes you to re-practice them until the clock stops being your enemy.
Passing CIMA F3 Financial Strategy requires 100/150 (scaled score, equivalent to ~60%), and the official registration fee is £120–£150 (varies by region and testing provider). Retakes charge the full £120–£150 (varies by region and testing provider) again, which is why experienced candidates treat preparation as the cheaper exam fee. Verify your readiness with repeated ActualPDF practice scores above the requirement before you commit to a date.
Completion of CIMA Operational and Management levels is recommended (E3, P3, F3 sit within Strategic level of CIMA syllabus).
Requirements evolve, so confirm the current conditions before registering on the official exam page.
Registration for CIMA F3 Financial Strategy goes through the official channels listed here.
When you schedule, note that the exam is delivered Computer-based exam delivered at authorised test centres or online proctoring where available..
CIMA (Chartered Institute of Management Accountants) recommends the following training for CIMA F3 Financial Strategy candidates.
Follow any course with the 435 practice questions in the ActualPDF CIMAPRA19-F03-1 package; the software engine will even remind you which mistakes need another round.
Yes. ActualPDF provides a free download demo of the CIMA F3 Financial Strategy material, so you can check the content before choosing a version. After purchase, a one-year warranty covers you: the latest version is sent to you as it releases, free for 365 days, and after expiry you can extend the update service at a 50% discount.
Your purchase is covered by a 100% money-back guarantee with clear conditions. Take the CIMA F3 Financial Strategy exam within 60 days of purchase; if you fail, provide your unqualified result by submitting a scanned enrollment slip and the official Score Report PDF within 2 days of the exam, and the full refund is processed within 7 days. The exam must match your product, candidate and payer names must match, and attempts within 3 days of purchase, unused downloads, free materials, and expired orders are not covered. Alternatively, exchange for two other exam products of equal value, free, or wait for updates while keeping your original product's update service.
Delivery is instant: files unlock for download at payment and are emailed within one minute. If nothing arrives within 2 hours, check spam and contact customer service, which works 7/24 and normally replies within two hours. Installation is unlimited across your computers.
The CIMA F3 Financial Strategy syllabus spans 5 domains, led by Financial Risk Management, Dividend Policy, and Financial Strategy Formulation. The complete topic list is published above; candidates who study the map first rarely get lost later.
CIMA F3 Financial Strategy Sample Questions:
Question 1
On 1 January:
* Company X has a value of $50 million
* Company Y has a value of $20 million
* Both companies are wholly equity financed
Company X plans to take over Company Y by means of a share exchange. Following the acquisition the post-tax cashflow of Company X for the foreseeable future is estimated to be $8 million each year. The post-acquisition cost of equity is expected to be 10%.
What is the best estimate of the value of the synergy that would arise from the acquisition?
A. $100 million
B. $10 million
C. $30 million
D. $60 million
Question 2
A listed company with a growing share price plans to finance a four-year research project with debt.
The main criterion for the finance is to minimise the annual cashflow payments on the debt.
The research will be sold at the end of the project.
Which of the following would be the most suitable financing method for the company?
A. Standard bonds
B. Finance lease
C. Bonds with warrants
D. Bank loan
Question 3
DFG is a successful company and its shares are listed on a recognised stock exchange. The company's gearing ratio is currently in line with the industry average and the directors of DFG do not want to increase the company's financial risk. The company does not carry a large cash balance and its shareholders are not expected to be willing to support a rights issue at this time LMB is a small services company owned and managed by a small board of directors who are going to retire within the next year DFG wishes to purchase LMB and has approached LMB's owners, who are broadly open to the proposal, to discuss the bid and the consideration to be offered by DFG. LMB's owners explain to DFG that they are also keen to defer any tax liabilities they would be subject to on receipt of the consideration.
Based on the information provided, which of the following types of consideration would be most suitable to finance the acquisition?
A. Loan stock in DFG for the current value of LMB
B. Cash for the current value of LMB
C. DFG shares for a percentage of the current value of LMB plus a three year earn-out arrangement
D. DFG shares for the current value of LMB
Question 4
A listed company in a high growth industry, where innovation is a key driver of success has always operated a residual dividend policy, resulting in volatility in dividends due to periodic significant investments in research and development.
The company has recently come under pressure from some investors to change its dividend policy so that shareholders receive a consistent growing dividend. In addition, they suggested that the company should use more debt finance.
If the suggested change is made to the financial policies, which THREE of the following statements are true?
A. There may be a change to the shareholder profile due to 'the clientele effect'.
B. Retained earnings have a lower cost than debt finance.
C. The directors will not have to take shareholder dividend preferences into consideration in future.
D. The company's financial risk will increase due to its increased use of debt finance.
E. It may give a signal to the market that the company is entering a period of stable growth.
Question 5
A company plans to raise S15 million to finance an expansion project using a rights issue Relevant data
* Shares will be offered at a 20% discount to the present market price of S12 50 per share
* There are currently 3 million shares in issue
* The project is forecast to yield a positive NPV of $9 million
What is the yield-adjusted Theoretical Ex-Rights Price following the announcement of the rights issue?
A. $13.67
B. $9.50
C. $11 25
D. $11.67
Solutions:
| Question 1 Answer: B | Question 2 Answer: C | Question 3 Answer: D | Question 4 Answer: A,D,E | Question 5 Answer: D |
