CFA UK LEVEL 4 CERTIFICATE IN INVESTMENT MANAGEMENT (IMC) - UNIT 2 - INVESTMENT PRACTICE - MOCK EXAM ONE - VERSION 20

Sep 30, 2026

Mock exam paper for CFA UK Level 4 Certificate in Investment Management (IMC) Unit 2: Investment Practice, version 20 tested from 1 December 2022. Provides key exam facts including syllabus tax tables, 105 questions, 2 hours 20 minutes duration, and question types (standard multiple choice, item sets, and gap fill). Includes day-of information on calculator rules, a caution against relying on the mock as the primary learning source, and a detailed question allocation by content area. Includes multiple sample questions and a case study setup with exhibits of RPI and share price data.

LanguageEnglish

CategoryExam

FormatPDF

Pages34

Reading Time1 h 26 min

AccessFree to download

Key facts about the IMC Unit 2 exam

Syllabus and exam structure

Types of questions used

Important information for exam day

Calculator used

Question allocation

Quantitative methods

Economics

Accounting

Asset classes

Investment theory, management and measurement

Sample questions and case study

Rights issue ex-rights price

Credit rating on the S&P scale

Bond Macaulay duration determinants

Case study: Felicity and Exhibit 1 (RPI and share prices)

CFA UK LEVEL 4 CERTIFICATE IN INVESTMENT MANAGEMENT (IMC) UNIT 2 – INVESTMENT PRACTICE MOCK EXAM ONE VERSION 20– TESTED FROM 1 DECEMBER 2022 Key facts about the IMC Unit 2 exam | Syllabus | IMC Unit 2 Version 1 tested from 1 December 2022 | | --- | --- | | Tax tables for this syllabus | Tax tables used for IMC Syllabus Version 20 | | Number of questions | 105 | | Time allowed | 2 hours 20 minutes | | Types of questions used | • Standard multiple choice – Candidates select 1 option of 4.
• Item set – Candidates are given a short scenario with several questions associated with it. The material given in the case study does not change with the questions.
• Gap fill – Candidates must enter a value into the answer field. There are specific formatting requirements and these formatting requirements are always given in the question. | Important information regarding what happens on the day | Calculator used | • From 1st June 2020 IMC candidates will not be permitted to use a handheld calculator during their examination. The onscreen calculator will be available for all questions during the exam.
• The IMC calculator policy provides further information on the onscreen calculator. | | --- | --- | Please click here for all Terms and Conditions pertaining to the Investment Management Certificate examination(s) . The IMC mock exam should NOT be viewed as a primary source of learning. By its nature, a mock exam paper will only cover proportion of the learning outcomes. Candidates are strongly advised to develop a fundamental understanding of the curriculum in order to demonstrate the competence required to pass the examination. Question Allocation Question allocation across the syllabus is balanced on the guidance of psychometric and industry specialists. The following question allocation for Version 20 of the IMC is provided as a broad indication of the relative ‘weighting’ of different parts of the syllabus in IMC examinations from 1 December 2022. | CONTENT AREA TOPIC | | TOPIC NAME QUESTION
ALLOCATION | | | --- | --- | --- | --- | | Quantitative methods | 7 | Quantitative methods | 10–20 | | Economics | 8 | Microeconomics | 5-15 | | | 9 | Macroeconomics | | | Accounting | 10 | Accounting | 10-20 | | Asset classes | 11 | Equities | 25-30 | | | 12 | Fixed income | | | | 13 | Derivatives | | | | 14 | Alternatives | | | Investment theory, management and measurement | 15 | Portfolio management | 25-30 | | | 16 | Investment products | | | | 17 | Investment performance measurement | | 1. An investor holds 1,000 shares in ABC Plc with a current price of £4.00. ABC announces a one for eight rights issue with a subscription price of £2.50. What is the theoretical ex-rights price (in £ to 2 decimal places)? Important! You should enter the answer only in numbers strictly using this format: 0.00 Do not include spaces, letters or symbols (but decimal points and commas should be used if indicated) . 2. Which of the following is the highest non-investment grade credit rating on the S&P scale? (a) AA– (b) A+ (c) BB+ (d) B– 3. Which of the following is a determinant of a bond's Macaulay duration? (a) Inflation rate (b) Moody's rating (c) Frequency of coupon payment (d) Steepness of yield curve 4. Which of the following would be most suitable for a firm with insufficient equity capital? (a) Share buyback (b) Special dividend (c) Stock split (d) Placing 5. Which of the following statements best describe the macro-economy according to the Monetarist school of thought? (a) Prices are fixed (b) Prices are flexible but slow to adjust (c) Prices are fully flexible (d) Supply and demand are in equilibrium 6. What is the present value of £5,000 which will be received in four year's time if the discount rate is 8% per annum? (a) £3,402.92 (b) £3,675.15 (c) £3,969.16 (d) £6,802.44 7. Which of the following are true in relation to an investment trust's capital

FAQs

How many questions and how long is the IMC Unit 2 mock exam (Version 20)?

The exam includes 105 questions and allows 2 hours 20 minutes.

What calculator restrictions apply during the IMC Unit 2 examination?

From 1 June 2020, handheld calculators are not permitted; an onscreen calculator is available for all questions.

What question formats are used in this mock exam?

It uses standard multiple choice (select 1 of 4), item set questions with a fixed scenario, and gap fill questions requiring entry in a specified format.

Sep 30, 2026

Upload by Olivia Brown