FN2复习大纲

Finance 2 [FN2] Examination Blueprint 2006/2007 Purpose The Finance 2 [FN2] examination has been constructed using an examination blueprint. The blueprint, also referred to as the test specifications, outlines the content areas covered on the examination and the weighting allotted to each content area. This document also lists the topics, the level of competence for each topic, and the related learning objectives. The learning objectives have been designed to ensure that the competencies are met. In addition, information is provided on the proportion of each question type presented in the examination (that is, multiple choice, quantitative problems, and so on). Use Candidates should use the examination blueprint to prepare for the course examination. The blueprint may not include all the topics listed in the course outline; however, candidates are still responsible for acquiring a broad-based knowledge of all topics not listed in the blueprint since these topics will be tested in assignment and review questions. The topics not listed in the blueprint will also provide candidates with a greater depth of understanding of finance concepts. Examination Objectives The objective of the 4-hour comprehensive examination is to test CGA candidates on the prerequisite knowledge required for advancement into PA1 and PA2, so as to ensure that the candidates have the broad-based knowledge in finance needed to function properly in the association’s capstone courses. Examination Guidelines for Questions
Level 1
1.2
Level 1
1.3
Level 1
1.4 1.5
Market efficiency Agency issues and ethical considerations Relationship between net present value and required return Estimating cash flows for capital budgeting purposes Net present value technique Estimating the cash flows of economically dependent projects
ii) Question Content The following table is organized according to content area and provides information on topics, learning objectives, weighting, competencies, and levels of competence. The competencies applicable to a particular module are identified independent of the learning objectives.
Examination sessions: December 2006; March 2007; June 2007
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Table 1.
Finance 2 [FN2] Examination Blueprint
Topics Learning Objectives Levels of Competence Module Competencies Weighting (%) 6%–9%
Level 2 Level 2
1.6
Level 1
Develops and administers budgets Develops financial forecasts and plans Develops and assesses financial benchmarks Assesses or designs a financial risk management strategy Uses technological tools in the workplace Articulates the requirements and expected performance of the organization’s operational plan to the appropriate stakeholders Evaluates and advises on the implications of an organization’s access to resources Identifies implications and extends solutions beyond the immediate or short-term Evaluates and advises on growth strategies of an organization or individual Applies professional ethical standards Considers alternative solutions and shapes recommendations Prepares or evaluates business cases or financial proposals
ቤተ መጻሕፍቲ ባይዱ
1.7
Level 1
1.8 1.9
Level 1 Level 1
1.10 Dealing with inflation in capital budgeting 1.11 Alternative valuation techniques used in capital budgeting
i)
Question Type The following are guidelines on the type of questions and their approximate weightings:
Question Item Multiple-choice questions Short-answer and/or short casetype problems of both a qualitative and quantitative nature Description Questions may take a conceptual approach or they may require technical or analytical skills to derive the correct solution. Questions may focus on technical or analytical aspects of the material. Short, integrative cases may be used to pull together related issues. For example, a problem may require candidates to outline alternatives, supporting their recommendations with numerical analysis. Percentage Weighting 20%–30% 70%–80%
Content Area 1. Basic concepts 1.1
Consumption, investment, and financial markets Including real assets as investment choices — the investment schedule Independence of the investment and consumption decision
Explain how the financial market helps individuals (and corporations) to transfer wealth from one period to another. Explain why the marginal rate of return is the right criterion to use to determine the optimal set of real assets to invest in. Explain how the financial market facilitates independence between the choice of the optimal set of real assets to invest in and the preference for current versus future consumption. Explain the three levels of market efficiency and their implications. Describe the nature of the relationship between shareholders and managers and the ethical issues that may arise. Explain how managers can make the decision to invest in an investment project based upon its net present value and internal rate of return. Explain how cash flows are estimated for capital budgeting purposes. Evaluate a project using the net present value technique. Evaluate economically dependent projects.