BFD (Past Paper Analysis)

Attempt
Q#
WACC & Capital

Structures
Summer 2012
Summer 2011
Winter 2010
Summer 2010
Summer 2009
Winter 2008
Summer 2008
1
6
5
3
5
6
2
WACC + Adjusted WACC

Debt Equity ratio working
Interest cover + MM
APV
For different Capital Structures
WACC + MM
Market price and WACC
Summer 2011
Winter 2010
Winter 2009
Winter 2008
Summer 2008
2
3
1
7
1
Involvement of sharp ratio

Alpha Values
Apha Values and Revised Beta
Beta calculations for different projects
Returns and Weighted Beta
Summer 2012
Winter 2011
Winter 2011
Summer 2011
Summer 2011
Winter 2010
Summer 2010
Winter 2009
Winter 2009
Summer 2009
Summer 2009
Winter 2008
Winter 2008
Summer 2008
5
6
3
4
4
4
2
3
1
2
4
5 (a)
4
NPV + Discounted Payback + IRR + MIRR

(Different Currencies)
International + Taxation issues
NPV (2 alternatives)
Lease vs Buy
NPV
International + Tax treaty working
Leasing calculations
NPV
NPV
TFC + Other Floating rates
Asset Replacement option
NPV (Leasing & IRR)
NPV
Winter 2011
Summer 2010
Winter 2009
Summer 2008
1
5
5
3
Dividend irrelevance theory

Right issue and effect on price
Right shares and Capital Structure
Summer 2012
Winter 2011
5
4
Winter 2010
Winter 2009
Summer 2009
Summer 2008
3
6
All methods (Futures,Hedge,Options)

Hedging through forward cover and money
market + multilateral netting
market + interest rate risk
market
Call and Put Options
Hedging through forward cover
Summer 2012
Summer 2011
Summer 2010
1
1
Winter 2008
Winter 2008
Winter 2008
2
5 (b)
Valuation
Risk
Analysis
Misc
Foreign Excahnge
Dividends
& Right
Issue
Investment Appraisal
Topic
CAPM +
Portfolio
BFD Question Bank (Topic Wise) - Summer 2008 to Summer 2012

Short Description
Investment mix of Mutually exclusive &

mutually dependent projects
Leverage Ratios
Projected cash flow and divident payout
policy
Injection of fresh equity + shareholding
calculations
Forcasting and Debt/Equity Ratio
Sensitivity Analysis
Winter 2011
Summer 2009
Winter 2008
2
6
3
Decision Tree + NPV

Probabilities and Expected Values
Interest rate swaps
Summer 2012
Winter 2011
Summer 2011
Winter 2010
3
5
1
Summer 2010
Winter 2009
Summer 2009
Summer 2008
2
4
4
5
Free Cash Flows + Optimum sales level +

Cash Flow Management
Free cash flows + impact of acquisition
Calculating purchase consideration
Shares as purchase consideration EPS /
Discount Rate (+ Theory)
Free cash flows + impact of SYNERGY
MBO
Working for mergers
Surplus Value on Demerger
Marks
Page (Q)
Page (A)
19
17
23
16
15
13
12
115
15
13
20
12
18
78
17
1
27
39
48
73
82
91
5
33
45
53
78
88
96
24
37
58
83
91
29
42
63
89
95
15
16
24
25
38
49
59
59
70
70
81
82
92
21
22
30
31
43
54
64
65
74
76
86
87
98
13
50
61
92
17
56
67
97
4
15
11
20
20
37
41
12
61
68
12
17
89
20
71
94
77
102
15
22
23
47
28
51
13
80
84
14
10
94
14
15
10
39
30
80
82
85
87
13
73
81
18
79
85
20
25
20
14
26
36
19
31
40
25
24
21
20
185
48
60
72
93
52
65
77
100
20
17
12
16
24
20
14
13
20
17
18
10
18
236
15
17
17
15
64
14
14
13%
9%
26%
7%
10%
10%
4%
21%
BFD Question Bank (Attempt Wise) - Summer 2008 to Summer 2012
Summer 2008
Winter 2008
Summer 2009
Winter 2009
Summer 2010
Winter 2010
Summer 2011
Winter 2011
Summer 2012
Attempt
Q#
Topic
Short Description
Marks
Page (Q)
Page (A)
WACC + Adjusted WACC

Investment mix of Mutually exclusive &
mutually dependent projects
NPV + Discounted Payback + IRR + MIRR
(Different Currencies)
Free Cash Flows + Optimum sales level +
Cash Flow Management
All methods (Futures,Hedge,Options)
19
20
1
2
5
6
17
30
14
11
15
14
20
14
13
13
14
15
17
18
19
20
20
17
15
16
21
22
1
2
WACC & Capital Structures

Misc
Valuation
Foreign Excahnge
1
2
3
4
Dividends & Right Issue

Risk Analysis
Valuation
Foreign Excahnge
5
6
Dividend irrelevance theory

Decision Tree + NPV
Free cash flows + impact of acquisition
market + multilateral netting
International + Taxation issues
NPV (2 alternatives)
1
2
3
4
5
6
Misc
CAPM + Portfolio
Valuation
Leverage Ratios
Involvement of sharp ratio
Lease vs Buy
NPV
Calculating purchase consideration
Debt Equity ratio working
15
15
12
16
25
17
23
24
24
25
26
27
28
29
30
31
31
33
Valuation
20
36
40
Foreign Excahnge
20
37
41
3
4
5
CAPM + Portfolio
Shares as purchase consideration EPS /

Discount Rate (+ Theory)
market + interest rate risk
Alpha Values
International + Tax treaty working
Interest cover + MM
13
24
23
37
38
39
42
43
45
Misc
22
47
51
2
3
4
5
Valuation
25
16
20
17
48
48
49
50
52
53
54
56
1
2
3
4
5
6
CAPM + Portfolio
Valuation
Foreign Excahnge
Apha Values and Revised Beta

NPV
NPV
MBO
market
20
14
13
24
17
12
58
59
59
60
61
61
63
64
65
65
67
68
1
2
3
4
5
6
Foreign Excahnge
Valuation
Risk Analysis
TFC + Other Floating rates

Asset Replacement option
Call and Put Options
Working for mergers
For different Capital Structures
Probabilities and Expected Values
20
17
12
21
15
15
70
70
71
72
73
73
74
76
77
77
78
79
Misc
13
80
84
14
10
18
10
10
13
12
80
81
81
82
82
82
83
85
85
86
87
87
88
89
18
12
15
18
20
17
91
91
92
92
93
94
95
96
97
98
100
102
Projected cash flow and divident payout

policy
Free cash flows + impact of SYNERGY
APV
2
3
4
5 (a)
5 (b)
6
7
Misc
Risk Analysis
Misc
CAPM + Portfolio
Injection of fresh equity + shareholding

calculations
Forcasting and Debt/Equity Ratio
Interest rate swaps
NPV (Leasing & IRR)
NPV
Sensitivity Analysis
WACC + MM
Beta calculations for different projects
1
2
3
4
5
6
CAPM + Portfolio
Valuation
Foreign Excahnge
Returns and Weighted Beta

Market price and WACC
Right shares and Capital Structure
Surplus Value on Demerger
Hedging through forward cover

BFD (Past Paper Analysis)

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Attempt

WACC & Capital

WACC + Adjusted WACC

Involvement of sharp ratio

NPV + Discounted Payback + IRR + MIRR

Dividend irrelevance theory

All methods (Futures,Hedge,Options)

BFD Question Bank (Topic Wise) - Summer 2008 to Summer 2012

Investment mix of Mutually exclusive &

Decision Tree + NPV

Free Cash Flows + Optimum sales level +

BFD Question Bank (Attempt Wise) - Summer 2008 to Summer 2012

WACC + Adjusted WACC

WACC & Capital Structures

Dividends & Right Issue

Dividend irrelevance theory

Shares as purchase consideration EPS /

Apha Values and Revised Beta

TFC + Other Floating rates

Projected cash flow and divident payout

Injection of fresh equity + shareholding

Returns and Weighted Beta

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