在F9的考試中，section A的考點(diǎn)覆蓋了正本書的內(nèi)容，因此，考生應(yīng)該全面地復(fù)習(xí)和掌握F9中相關(guān)的知識點(diǎn)。但是關(guān)于section B和section C的考點(diǎn)，則相對有規(guī)律可循。正如大家所了解的一樣，section B由三道選擇題構(gòu)成，section C由兩道大題構(gòu)成，因此，這五道題目分別來自課本中的Part C, Part D, Part E, Part F, Part G.

下面，小編就對這五章的重要的考點(diǎn)進(jìn)行總結(jié)和歸納，希望對大家3月份的考試會有所幫助。

Part C Working capital management

關(guān)于這一章的內(nèi)容，在歷年考題中主要考查的內(nèi)容是：

1.account receivables management ( early settlement discount & factoring )

2.inventories management ( EOQ )

3.payable management

4.cash management ( Baumol model & Miller-Orr model)

5.the cash operating cycle and related ratios

關(guān)于以上的知識點(diǎn)，主頁君為您們總結(jié)了以下的經(jīng)典考題，即使你時間緊迫，也希望你可以刷完這些題目；

● 2013.12 Q3 (考點(diǎn)：inventory management& early settlement discount & invoice discounting & factoring)

● 2014.6 Q2 (考點(diǎn)：1/working capital cycle 2/quick ratio& sales to net working capital   3/current asset & liabilities &working capital financing policy)

● 2014.12.Q1（考點(diǎn)：cash management/cash surplus）

●2015.12.Q3（考點(diǎn)：early settlement discount/risk of foreign account receivables）

此外，澤稷小編還需要提醒廣大考生：近期有一篇關(guān)于working capital management的文章，同學(xué)們一定要閱讀喲！隨后我們也將會在澤稷ACCA考友論壇推出這篇文章的中文解讀版本，希望同學(xué)們可以持續(xù)關(guān)注喲！

預(yù)測：在2016年9月份的考試中，本章已經(jīng)在section C中以一道大題的形式考查過trade receivables/trade payables/inventory management. 所以小編覺得：在今年3月份的考試中，這一部分的內(nèi)容應(yīng)該會以section B 的形式考查，并且重點(diǎn)關(guān)注cash operating cycles/ cash management /relevant accounting ratio.

Part D Investment appraisal

關(guān)于這一章的內(nèi)容，在歷年考題中主要考查的內(nèi)容是：

1.NPV (inflation & taxation & relevant cash flow )

2.Lease or buy

3.Payback period & ROCE

4.Capital rationing

5.Sensitivity analysis & profitability analysis

關(guān)于以上的知識點(diǎn)，小編為您們總結(jié)了以下的經(jīng)典考題，即使你時間緊迫，也希望你可以刷完這些題目；

● 2015.6 Q5（考點(diǎn)：NPV (inflation and taxation) & sensitivity analysis and risk）

●  2015.12.Q5 (考點(diǎn)：asset replacement & capital rationing)

●  2016.09 Section B-3 (考點(diǎn)：payback period & ROCE )

預(yù)測：在去年12月份，本章考查的是payback period and ROCE, 所以小編覺得在今年三月的考試中，大家應(yīng)該把重點(diǎn)放在NPV/sensitivity analysis/capital rationing/profitability analysis)

Part E Business finance

關(guān)于這一章的內(nèi)容，在歷年考題中主要考查的內(nèi)容是：

1.計(jì)算 cost of debt/cost of equity (CAPM model & Dividend growth model)

2.5. CAPM model (systematic risk and unsystematic risk)

3.計(jì)算cost of capital by using WACC/ project-specific cost of equity

4. Discuss the factors to be considered when chose sources of finance

5.不同融資方式的特點(diǎn)，such as Islamic finance/ right issues/issue traded bonds/venture capital / leasing and so on)

6. Capital structure theories/ the change of capital structure on the cost of capital and business valuation)

歷年經(jīng)典考題總結(jié)

2016.06 Q4 (考點(diǎn)：1/計(jì)算the cost of capital by using WACC 2/討論source of finance 與creditor hierarchy之間的關(guān)系 3/討論the difference between Islamic finance and other conventional finance).

2014.06 Q3(考點(diǎn)：1/WACC & cost of equity 2/systematic and unsystematic risk in relation to portfolio theory and CAPM 3/market efficiency)

2013.06 Q4(考點(diǎn)：Discuss the factors to be considered when chose sources of finance/The effect on EPS of raising finance by a stock market listing /The effect on EPS and interest cover of issuing new debt.)

2013.12 Q2(考點(diǎn)：1/ cost of equity (dividend growth model) 2/ the cost of capital by using WACC 3/project-specific cost of equity 4/discuss whether the change of capital structure can lead to a reduction in cost of capital and an increase in company valuation)

預(yù)測：在2016年9月的考題中，該章節(jié)的內(nèi)容并沒有在section 2 和 section 3中單獨(dú)考查，但是作為F9大綱中非常重要的一塊內(nèi)容，小編建議你認(rèn)真復(fù)習(xí)，因?yàn)檫@一考點(diǎn)很有可能在今年3月的考試中以大題的形式單獨(dú)考查。

Part F Business valuation

關(guān)于這一章的內(nèi)容，在歷年考題中主要考查的內(nèi)容是：

1.MV of equity (dividend growth model/net asset method/earning yield method)

2.MV of debt

3.Market efficiency

歷年考題總結(jié)

2016.09 section B-Q2 (考點(diǎn)：Business valuation (dividend growth model)& MV of debt/market efficiency)

2014.12 Q2 （考點(diǎn)：1/MV of convertible loan 2/share price using P/E ratio）

預(yù)測：計(jì)算MV of equity or debt / 討論有關(guān)market efficiency的相關(guān)概念。

Part G Risk management

關(guān)于這一章的內(nèi)容，在歷年考題中主要考查的內(nèi)容是：

1.Foreign currency risk

(Foreign currency risk management including: forward exchange contracts/ money market borrowing or lending / lead payments)

2.Interest rate risk

(Interest rate risk management including: asset and liability management/ matching and smoothing/ forward rate agreement)

歷年考題總結(jié)

2015.06 Q1 (考點(diǎn)：1/評價money market hedge VS forward market hedge 2/explain why forward rate manage interest rate risk)

2016.06.Q2 (考點(diǎn)：1/identify and discuss the different interest rate risk face 2/討論以下 pre-denominated interest payment in six month’s time所面臨的風(fēng)險及怎樣規(guī)避)

預(yù)測：2016年9月份關(guān)于本章內(nèi)容，考查的是currency risk management, so 小編覺得今年3月份很有可能會考查interest rate risk management的內(nèi)容，但是也并不意味著就不考有關(guān)interest rate risk management的知識點(diǎn)了，所以同學(xué)們千萬不可以掉以輕心喲！

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