AFM

　　From last September every exam has had questions,which focused on section B of the syllabus(advanced investment appraisal)and E(treasury and advanced risk management techniques).These areas are therefore a high priory for your revision phase.

　　Section A questions are often based on coreareas such as project appraisal(domestic or overseas),business valuations and business/financial reorganisations.These areas often include cost of capital calculations.Risk management may also feature in a number of different ways,eg value at risk,real options,hedging or risk mapping.

　　For section B the tips are:

　　*Risk management(currency or interestrate).

　　*Dividend policy and general financing issues.

　　*Real options.