FM

　　In section A OTs will often be knowledge based(testing your knowledge of key technical terms)and will balance out the questions in section B and C.So expect a good number of these Qs to test your understanding of financial management and objectives(ratio analysis,the concept of shareholder wealth),as well as the economic environment and financial institutions topics(financial intermediation,fiscal and monetary policies).the efficient market hypothesis is also likely to be tested.

　　Areas to expect in section B are working capital management(operating cycle,the impact of a change in credit period,or accepting a factor’s offer)_,business or security valuations(methods of valuation),and financial risk management(currency risk,or interest raterisk).

　　The two Qs in section C will focus mainly on syllabus sections C,D and E.That’s working capital management,investment appraisal(think NPV with inflation and tax here),and business finance;either an evaluation of financing options(interest coverage and gearing ratios arelikely),or cost of capital and analysis are most likely.Whichever of the setopics does not feature in section C is likely to appear in section B.