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ATC International's Mike Ashworth offers some advice on passing paper F9 and P4.

Each of the two compulsory case studies in paper P4 is likely to contain relatively easy requirements (for relatively high marks), for example cost of capital estimates, and at least one very demanding requirement (for relatively low marks), eg estimating the required return on a new bond issue to maintain shareholder wealth. Bank the easier marks and atleast make a sensible attempt at complex requirements, wrinting your assumptions and clearly explaining your approach.

As there is choice of two form three questions in section B the examiner can test anything he wants - after all, 'emerging issues in financial and financial management' is a key area of the syllabus. Although this may appear rather scary, one question will be wholly discursive and , to a large degree, may be attempted using a combination of common sense (discussing ethical issues, for example) and existing knowdlege.

Keep an eye on http://professorbobryan.blogspot.com/ to see what interest the examiner in his post "what is the value of limited liability?" professor Rayn gives his explation for the appetite for risk inthe banking sector.

Also real widely - check out The Economist and Financial Times websites regularly.

Source: PQ Magazine