This page was exported from Exams Labs Braindumps [ http://blog.examslabs.com ] Export date:Sat Nov 23 0:40:29 2024 / +0000 GMT ___________________________________________________ Title: Most UptoDate CIMA F3 Exam Dumps PDF 2022 [Q80-Q103] --------------------------------------------------- Most UptoDate CIMA F3 Exam Dumps PDF 2022 100% Free CIMA Strategic level F3 Dumps PDF Demo Cert Guide Cover Learning guide CIMA F3: Financial Strategy Exam Exam Blueprint of CIMA F3: Financial Strategy Exam Tips to Prepare the exam in a short amount of time In order to become a CIMA Professional, you must first become CIMA Operational certified. After completing this level, you may go on to the Top management and then the Strategic level to become a professional strategy to manage. Failure to comply with training standards is a major reason that many financial companies close their doors. Reflect this in your audit report. 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Tests are instantly scored and up to date. Score report of the test taker's results are sent to the employer. Markup and take advantage of the company's strategic advantage. Protection of consumer information. Answer and explanations of the questions also available. Understand the CIMA F3 exam and pass it on first attempt. Interactive learning environment.   Q80. A company intends to sell one of its business units. Company W, by a management buyout (MBO). A selling price of S200 million has been agreed.The managers are discussing with a bank and a venture capital company (VCC) the following financing proposal.The VCC requires a minimum return on its equity investment In the MBO of 35% a year on a compound basis over 5 years What is the minimum total equity value of Company W in 5 years time in order to meet the VCC’s required return? Give your answer to one decimal place. 65Q81. Listed company R is in the process of making a cash offer for the equity of unlisted company S.Company R has a market capitalisation of $200 million and a price/earnings ratio of 10.Company S has a market capitalisation of $50 million and earnings of $7 million.Company R intends to offer $60 million and expects to be able to realise synergistic benefits of $20 million by combining the two businesses. This estimate excludes the estimated $8 million cost of integrating the two businesses.Which of the following figures need to be used when calculating the value of the combined entity in $ millions?  8, 20, 50, 60, 200  8, 20, 50, 200  20, 50, 60, 200  7, 10, 20, 50, 200 Calculation_F0Calc_Set1Q82. A manufacturing company is based in Country L whose currency is the L$.One of the company’s products is exported to Country M, a rapidly growing economy, whose currency is the M$.In the most recent financial year:* 100,000 units of the product were sold to customers in country M* The unit selling price was M$12The spot rate today is L$1 = M$5The company has an objective of growth in total sales value in L$ of 10% a year.If the L$ strengthens by 5% next year against the M$, what volume of sales of this product is needed next year to achieve the objective?  115,500 units  104,500 units  105,000 units  110,000 units Q83. Company A is located in Country A, where the currency is the A$.It is listed on the local stock market which was set up 10 years ago.It plans a takeover of Company B, which is located in Country B where the currency is the B$, and where the stock market has been operating for over 100 years.Company A is considering how to finance the acquisition, and how the shareholders of Company B might respond to a share exchange or cash (paid in B$).Which of the following is likely to explain why the shareholders of Company B would prefer a share exchange as opposed to a cash offer?  It would allow them to realise their investment and make a capital gain.  It would avoid them being exposed to foreign currency risk.  They would receive shares in a market that is likely to be more efficient.  It would enable them to benefit from the future performance of the combined entity. Q84. Which of the following best explains why the interest rate parity model is highly effective in practice?  Governments actively manage their exchange rates so that parity holds  Divergence from parity is impossible because exchange rates drive interest rates  Any divergence from parity can be observed by the market and corrected by arbitrage  Speculative forces drive the interest rates and exchange rates together to achieve parity. Q85. An analyst has valued a company using the free cash flow valuation model.The analyst used the following data in determining the value:* Estimated free cashflow in 1 year’s time = $100,000* Estimated growth in free cashflow after the first year = 5% each year indefinitely* Appropriate cost of equity = 10%The result produced by the analyst was as follows:Value of equity = $100,000 (1+0.05)/0.10 = $1,050,000The analyst made a number of errors in determining the value.By how much has the analyst undervalued the company?  $950,000  $2,000,000  $2,100,000  $1,050,000 Q86. A company is planning to repurchase some of its shares. Relevant details are as follows:* 100 million shares in issue* Current share price $5* 5 million shares to be repurchased* 10% repurchase premium* Repurchased shares to be cancelledWhat would you expect the share price after the repurchase to be?Give your answer to two decimal places.$ ? 4.97, 4.98Q87. A large, listed company is planning a major project that should greatly improve its share price in the long term.These plans require a significant capital cost that the company plans to finance by debt.All of the debt options being considered are for the same duration of time.Which of the following sources of debt finance is likely to be the most expensive for the company over the full term of the debt?  Bonds  A finance lease  Convertible bonds  Bank loan Q88. H Company has a fixed rate load at 10.0%, but wishes to swap to variable. It can borrow at LIBOR 8%.The bank is currently quoting swap rates of 3.1% (bid) and 3.5% (ask).What net rate will H Company pay if it enters into the swap?  LIBOR +6.5%  LIBOR +8%  LIBOR +6.9%  LIBOR +3.1% Q89. Under traditional theory, an increase in a company’s WACC would cause the value of the company to:  Increase  Decrease  Stay the same  Either increase or decrease Q90. A company’s latest accounts show profit after tax of $20.0 million, after deducting interest of $5.0 million. The company expects earnings to grow at 5% per annum indefinitely.The company has estimated its cost of equity at 12%, which is included in the company WACC of 10%.Assuming that profit after tax is equivalent to cash flows, what is the value of the equity capital?Give your answer to the nearest $ million.$ ? million 300, 300000000Q91. A company wishes to raise new finance using a rights issue. The following data applies:* There are 10 million shares in issue with a market value of $4 each* The terms of the rights will be 1 new share for 4 existing shares held* After the rights issue, the theoretical ex-rights price (TERP) will be $3.80 Assuming all shareholders take up their rights, how much new finance will be raised ?Give your answer to one decimal place. $ ? million7.5, 7.50Q92. A company with a market capitalisation of S50million is considering raising $1 million debt to fund a new10-year capital investment protectThe value of this issue is considered to be small in comparison to the company’s market capitalisation The company is considering whether to raise the debt finance by either a “bond private placing’ or a ‘public bond issue.Which THREE of the following statements are correct?  An initial public bond issue will be administratively complex and relatively expensive for the relatively small amount of debt being raised whereas a bond private placing will be relatively less complex  An average investor is made aware of a potential initial public bond issue whereas the average investor is only made aware of a bond private placing after it has occurred.  The company’s credit rating will be a key element in determining the interest rate payable and the potential success of either the public bond issue or the bond private placing  An initial public bond issue does not need to be underwritten whereas a bond private placing must be underwritten.  An initial public bond issue can be arranged relatively quickly whereas a bond private placing can take up to a year to arrange. Q93. A company intends to sell one of its business units, Company R by a management buyout (MBO).A selling price of $100 million has been agreed.The managers are discussing with a bank and a venture capital company (VCC) the following financing proposal:The VCC requires a minimum return on its equity investment in the MBO of 30% a year on a compound basis over 5 years.What is the minimum TOTAL equity value of Company R in 5 years time in order to meet the VCC’s required return?Give your answer to one decimal place.$ ? million 111.4, 111,111.0, 111.1, 111.2,111.3, 111.5, 111.6,111.7Q94. Which THREE of the following are likely to be strategic reasons for a horizontal acquisition?  Reduction of risk by building a larger portfolio  Acquisition of an undervalued company  To achieve economies of scale  To secure key parts of the value chain  Reduction of competition Q95. A company is based in Country Y whose functional currency is YS. It has an investment in Country Z whose functional currency is ZS This year the company expects to generate ZS20 million profit after tax.Tax Regime* Corporate income tax rate in Country Y is 60%* Corporate income tax rate in Country Z Is 30%* Full double tax relief is availableAssume an exchange rate of YS1 = ZS5What is the expected profit after tax in YS if the ZS profit is remitted to Country Y?  YS2 29 million  YS1 60 million  YS6.67 million  YS57.14 million Q96. A company enters into a floating rate borrowing with interest due every 12 months over the five year life of the borrowing.At the same time, the company arranges an interest rate swap to swap the interest profile on the borrowing from floating to fixed rate.These transactions are designated as a hedge for hedge accounting purposes under IAS 39 Financial Instruments: Recognition and Measurement.Assuming the hedge is considered to be effective, how would the swap be accounted for 12 months later?  The swap would be shown at nominal value in the statement of financial position and the change in value posted to other comprehensive income.  The swap would be shown at nominal value in the statement of financial position and the change in value posted to profit or loss.  The swap would be shown at fair value the statement of financial position and the change in value posted to other comprehensive income.  The swap would be shown at fair value the statement of financial position and the change in value posted to profit or loss. Q97. Extracts from a company’s profit forecast for the next financial year as follows:Since preparing the forecast, the company has decided to return surplus cash to shareholders by a share repurchase arrangement.The share repurchase would result in the company purchasing 20% of the 1,250 million ordinary shares currently in issue and canceling them.Assuming the share repurchase went ahead, the impact on the company’s forecast earnings per share will be an increase of:  $0.100  $0.125  $0.175  $0.200 Q98. Hospital X provides free healthcare to all members of the community, funded by the central Government.Hospital Y provides healthcare which has to be paid for by the individual patients. It is a listed company, owned by a large number of shareholders.In comparing the above two organisations and their objectives, which THREE of the following statements are correct?  X is a not-for-profit organisation while Y is a for-profit organisation.  X and Y have the same primary financial objective – to maximise shareholder wealth.  The performance of X will be appraised primarily on the basis of value for money.  Only Y is likely to have a mixture of financial and non-financial objectives.  X and Y will have the same primary non financial objective – provision of quality of health care. Q99. Company A is a listed company that produces pottery goods which it sells throughout Europe. The pottery is then delivered to a network of self employed artists who are contracted to paint the pottery in their own homes.Finished goods are distributed by network of sales agents.The directors of Company A are now considering acquiring one or more smaller companies by means of vertical integration to improve profit margins.Advise the Board of Company A which of the following acquisitions is most likely to achieve the stated aim of vertical integration?  A company in a similar market to Company A.  A pottery factory in the Middle East.  A company that produces accessories.  A listed international logistics firm. Q100. Which THREE of the following are the most likely exit routes that apply to a venture capitalist?  Flotation via a stock market listing  Trade sale to another company  Selling back to the original owners  Liquidation of the company  Raising long term debt from the company Q101. Select the most appropriate divided for each of the following statements: Q102. A company is located in a single country. The company manufactures electncal goods for export and for sale in its home country. When exporting, it invoices in its customers’ currency. What currency risks is the company exposed to?  Transaction risk only  Transaction, economic and translation risks.  Transaction and economic risks  Translation and economic risks. Q103. 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 millionWhat is the yield-adjusted Theoretical Ex-Rights Price following the announcement of the rights issue?  $11.67  $11 25  $9.50  $13.67  Loading … Format of the CIMA F3: Financial Strategy Exam Language: EnglishNumber of questions: 60Format: Numerous choices, multiple responsesLength of Examination: 90 minutesPassing score: 70 percent   Updated CIMA F3 Dumps – PDF & Online Engine: https://www.examslabs.com/CIMA/CIMA-Strategic-level/best-F3-exam-dumps.html --------------------------------------------------- Images: https://blog.examslabs.com/wp-content/plugins/watu/loading.gif https://blog.examslabs.com/wp-content/plugins/watu/loading.gif --------------------------------------------------- --------------------------------------------------- Post date: 2022-07-30 13:42:42 Post date GMT: 2022-07-30 13:42:42 Post modified date: 2022-07-30 13:42:42 Post modified date GMT: 2022-07-30 13:42:42