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Includes exam logistics such as duration, total and passing marks, professional marks allocation, time allocation, and the requirement that all questions are compulsory. Supports practice through guidance on communication, report structure, and analytical evaluation using appropriate models, with calculations directed to an appendix via spreadsheet functionality.",{"@graph":69,"@context":122},[70,84,105],{"@type":71,"itemListElement":72},"BreadcrumbList",[73,77,79,82],{"item":74,"name":75,"@type":76,"position":8},"https://docshare.wps.com","Home","ListItem",{"item":78,"name":9,"@type":76,"position":14},"https://docshare.wps.com/document/",{"item":80,"name":20,"@type":76,"position":81},"https://docshare.wps.com/document/exam/",3,{"item":83,"name":65,"@type":76,"position":19},"https://docshare.wps.com/document/advanced-financial-management-afm-super-final-revision-note-sample/661468/",{"url":83,"name":65,"@type":85,"image":86,"author":91,"headline":65,"publisher":94,"fileFormat":97,"inLanguage":63,"description":67,"dateModified":98,"datePublished":99,"encodingFormat":97,"isAccessibleForFree":100,"interactionStatistic":101},"DigitalDocument",{"url":87,"@type":88,"width":89,"height":90},"https://docshare.wps.com/thumbnails/advanced-financial-management-afm-super-final-revision-note-sample/661468.png","ImageObject",300,407,{"name":92,"@type":93},"Stanford","Person",{"url":74,"name":95,"@type":96},"DocShare","Organization","application/pdf","2026-10-30","2026-10-28",true,{"@type":102,"interactionType":103,"userInteractionCount":14},"InteractionCounter",{"@type":104},"ViewAction",{"@type":106,"mainEntity":107},"FAQPage",[108,114,118],{"name":109,"@type":110,"acceptedAnswer":111},"How long is the AFM exam and what are the mark totals?","Question",{"text":112,"@type":113},"The exam duration is 3 hours and 15 minutes (195 minutes). The total marks are 100, with passing marks of 50 and professional marks of 20 within the 100 marks.","Answer",{"name":115,"@type":110,"acceptedAnswer":116},"Are all questions compulsory in the AFM exam and how is time allocated?",{"text":117,"@type":113},"All questions are compulsory. Time allocation is 195 minutes divided by 80 marks, giving 2.4 minutes per mark.",{"name":119,"@type":110,"acceptedAnswer":120},"What guidance is given for professional marks in Q1, Q2, and Q3?",{"text":121,"@type":113},"For Q1, focus on report headings, sub-headings, introduction, body, conclusion, professional clear report language, and put calculations in the appendix using spreadsheet functionality. For Q1, Q2, and Q3, focus on calculation using appropriate models and reaching a sensible conclusion.","https://schema.org",{"og:url":83,"og:type":124,"og:title":65,"og:site_name":95,"og:description":67},"article",{"robots":126,"canonical":83},"index,follow",{"doc_id":128,"site_id":62},661468,1793168154,{"code":4,"msg":5,"data":131},{"doc_id":128,"user_id":132,"nickname":92,"user_avatar":133,"doc_module":4,"category_id":19,"category_name":20,"doc_title":65,"doc_description":67,"doc_content":134,"file_id":135,"file_url":136,"file_type":137,"file_size":138,"view_count":14,"is_deleted":4,"is_public":8,"is_downloadable":8,"audit_status":8,"page_count":31,"language":139,"language_code":63,"site_id":62,"html_lang":63,"table_of_contents":140,"faqs":141,"seo_title":142,"seo_description":67,"update_tm":129,"read_time":143},2336477552062,"https://ap-avatar.wpscdn.com/davatar_994ba38a5ba835b3df7d355c54d3ed8d","Advanced Financial Management  \n(AFM)  \nSuper Final Revision Note  \n(Sample)  \nTable of contents:  \nIntroduction to AFM Exam ..................................................................................................................................................... 3  \nChapter 1 Net Present Value (NPV) ................................................................................................................................... 13  \nChapter 2 Payback Period, Discounted Payback Period, Project Duration.................................................................. 17  \nChapter 3 Internal rate of return (IRR) and Modified Internal Rate of Return (MIRR) ....................................................20  \nChapter 4 Adjusting Risks and Uncertainties in Investment Appraisal ............................................................................23  \nChapter 5 Value at Risk (VaR) ............................................................................................................................................. 26  \nChapter 6 Capital Rationing ............................................................................................................................................... 29  \nChapter 7 Free Cash Flow ................................................................................................................................................... 32  \nChapter 8 Real options (Black-Scholes Option Pricing Model) .......................................................................................36  \nChapter 9 Adjusted Present Value (APV) .......................................................................................................................... 45  \nChapter 10 International Investment Appraisal ................................................................................................................48  \nChapter 11 Risk Management ............................................................................................... Error! Bookmark not defined.  \nChapter 12 Economic environment ...................................................................................... Error! Bookmark not defined.  \nChapter 13 Business Finance.................................................................................................. Error! Bookmark not defined.  \nChapter 14 The Cost of Capital ............................................................................................. Error! Bookmark not defined.  \nChapter 15 Capital Structure Theories   Error! Bookmark not defined. Chapter 16 Acquisitions and Mergers versus Other Growth Strategies   Error! Bookmark not defined. Chapter 17 Equity Valuation   Error! Bookmark not defined. Chapter 18 Valuation when There are Changes in Risks Profile   Error! Bookmark not defined. Chapter 19 The Valuation of Debt and Other Financial Assets   Error! Bookmark not defined. Chapter 20 Interest rates terms considerations for debt valuation   Error! Bookmark not defined. Chapter 21 Managing fixed rate debts risks with Macaulay Duration and Modified DurationError! Bookmark not defined.  \nChapter 22 Payment Methods   Error! Bookmark not defined. Chapter 23 Defenses to Hostile Bids   Error! Bookmark not defined. Chapter 24 Regulation of takeovers   Error! Bookmark not defined. Chapter 25 Behavioural Finance   Error! Bookmark not defined. Chapter 26 Organisational Performance   Error! Bookmark not defined. Chapter 27 Corporate Reconstruction and Re-organisation   Error! Bookmark not defined. Chapter 28 Dividend Policy   Error! Bookmark not defined. Chapter 29 Ethical and Governance Issues   Error! Bookmark not defined. Chapter 30 Foreign Exchange Rate Risk Management   Error! Bookmark not defined. Chapter 31 FOREX Internal Hedging Techniques   Error! Bookmark not defined. Chapter 32 FOREX External Hedging Techniques (Part One)   Error! Bookmark not defined. Chapter 33 FOREX External Hedging Techniques (Part Two) -Currency Futures   Error!","cbCaihpgzjXFKblk","https://ap.wps.com/l/cbCaihpgzjXFKblk","pdf",1218227,"English","# Introduction to AFM Exam\n## Exam overview\n# Chapter 1 Net Present Value (NPV)\n# Chapter 2 Payback Period, Discounted Payback Period, Project Duration\n# Chapter 3 Internal rate of return (IRR) and Modified Internal Rate of Return (MIRR)\n# Chapter 4 Adjusting Risks and Uncertainties in Investment Appraisal\n# Chapter 5 Value at Risk (VaR)\n# Chapter 6 Capital Rationing\n# Chapter 7 Free Cash Flow\n# Chapter 8 Real options (Black-Scholes Option Pricing Model)\n# Chapter 9 Adjusted Present Value (APV)\n# Chapter 10 International Investment Appraisal\n# Chapter 11 Risk Management\n# Chapter 12 Economic environment\n# Chapter 13 Business Finance\n# Chapter 14 The Cost of Capital\n# Chapter 15 Capital Structure Theories\n# Chapter 16 Acquisitions and Mergers versus Other Growth Strategies\n# Chapter 17 Equity Valuation\n# Chapter 18 Valuation when There are Changes in Risks Profile\n# Chapter 19 The Valuation of Debt and Other Financial Assets\n# Chapter 20 Interest rates terms considerations for debt valuation\n# Chapter 21 Managing fixed rate debts risks with Macaulay Duration and Modified Duration\n# Chapter 22 Payment Methods\n# Chapter 23 Defenses to Hostile Bids\n# Chapter 24 Regulation of takeovers\n# Chapter 25 Behavioural Finance\n# Chapter 26 Organisational Performance\n# Chapter 27 Corporate Reconstruction and Re-organisation\n# Chapter 28 Dividend Policy\n# Chapter 29 Ethical and Governance Issues\n# Chapter 30 Foreign Exchange Rate Risk Management\n# Chapter 31 FOREX Internal Hedging Techniques\n# Chapter 32 FOREX External Hedging Techniques (Part One)\n# Chapter 33 FOREX External Hedging Techniques (Part Two) -Currency Futures\n# Chapter 34 FOREX External Hedging Techniques (Part Three) -Currency Options\n# Chapter 35 FOREX External Hedging Technique (Part Four) -Swap\n# Chapter 36 Interest Rate Risk Management\n# Chapter 37 Hedging Interest Rate Risks (Part One)– Internal Hedging Techniques\n# Chapter 38 Hedging Interest Rate Risk (Part Two) -External Hedging Techniques (FRA)\n# Chapter 39 Hedging Interest Rate Risk (Part Three) -External Hedging Techniques (Interest Rate Futures)\n# Chapter 40 Hedging Interest Rate Risk (Part Four) -External Hedging Techniques (Interest Rate Options)\n# Chapter 41 Hedging Interest Rate Risk (Part Five) -External Hedging Techniques (Interest Rate Collar Hedge)\n# Chapter 42 Hedging Interest Rate Risk (Part Six) -External Hedging Techniques (Interest Rate Swap)","[{\"question\":\"How long is the AFM exam and what are the mark totals?\",\"answer\":\"The exam duration is 3 hours and 15 minutes (195 minutes). The total marks are 100, with passing marks of 50 and professional marks of 20 within the 100 marks.\"},{\"question\":\"Are all questions compulsory in the AFM exam and how is time allocated?\",\"answer\":\"All questions are compulsory. Time allocation is 195 minutes divided by 80 marks, giving 2.4 minutes per mark.\"},{\"question\":\"What guidance is given for professional marks in Q1, Q2, and Q3?\",\"answer\":\"For Q1, focus on report headings, sub-headings, introduction, body, conclusion, professional clear report language, and put calculations in the appendix using spreadsheet functionality. For Q1, Q2, and Q3, focus on calculation using appropriate models and reaching a sensible conclusion.\"}]","Advanced Financial Management (AFM) - Super Final Revision Note - Sample | PDF",126]