<span style="color: #ff0000;">Please note: this product has been withdrawn as FME can no longer include past ACT exam questions in our learning materials</span>

<span style="color: #ff0000;">Products supporting the ACT's new syllabus</span> <a href="https://www.fmelearnonline.com/act-new-syllabus/">can still be purchased here.</a>

Exam technique is critical to passing your exam.  The only way to know whether your exam technique is up to scratch is to practice exam questions. Our experienced marker will mark your worked solutions and then advise you on how you can improve.

Choose a question from the list of past exam questions, or email us to submit an alternative.  Several of these date back to before the exams currently available from the ACT, so you will have not seen these before.
<h3>Available questions</h3>
<p style="padding-left: 30px;">Q1: April 2012 Q2: A comparison and calculation of MVA and ER for two companies.</p>
<p style="padding-left: 30px;">Q2: October 2010 Q2: The valuation of a possible acquisition, followed by the allocation of total value gain or loss between the two groups of shareholders under a cash offer and a share for share exchange.</p>
<p style="padding-left: 30px;">Q3: April 2011 Q1: The conflict between investors and borrowers and a valuation using forecast dividends and its limitations.</p>
<p style="padding-left: 30px;">Q4: April 2012 Q1: The calculation of simple NPVs, ranking them under capital rationing when the projects are divisible or indivisible, a discussion of post completion audits and of real v nominal returns.</p>
<p style="padding-left: 30px;">Q5: April 2012 Q5: The calculation of payments under a finance lease, the return to the lessor and a discussion of the difference between the lessor and the lessee’s position and the advantages of leasing rather than buying assets.</p>
<p style="padding-left: 30px;">Q6: April 2011 Q4: The change in the cost of capital if ordinary or preference shares are issued and a discussion of different types and classes of ordinary shares.</p>
<p style="padding-left: 30px;">Q7: October 2012 Q4: The comparison of a special dividend, a share repurchase and a scrip dividend in their effect on a shareholder and the book value of equity and a discussion of their relative merits.</p>
<p style="padding-left: 30px;">Q8: April 2010 Q5: The calculation of a bond issue price by reference to gilt yield and spread, discussion of bond covenants and credit watch and foreign bonds.</p>
<p style="padding-left: 30px;">Q9: October 2012 Q3: The calculation of the effective annual cost of bank loans with different fees and a discussion of bilateral and syndicated loans and foreign bonds.</p>
<p style="padding-left: 30px;">Q10: October 2010 Q3: A discussion of bond mandates and the cost of zero coupon bonds; calculation of the issue price if the bond was convertible and the yield to investors given a certain growth in the share price.</p>

<h3>How this process works:</h3>
Buying this product enrols you on a course on our study site.  You can access our study site either by selecting 'study site' at the top of out website, or going to www.fmelearnonline.com/study.
<ul>
 	<li>You download the exam / exam question from our study site</li>
 	<li>You work the exam / exam question on paper, ideally under exam conditions</li>
 	<li>You scan your solution and save it as a single pdf document (we recommend you use Fastscanner via <a href="https://play.google.com/store/apps/details?id=com.coolmobilesolution.fastscannerfree&amp;hl=en">android</a> or <a href="https://itunes.apple.com/gb/app/fast-scanner-quickly-scan/id586167688?mt=8">apple</a>.)</li>
 	<li>You upload your pdf document following the instructions in your course. Your tutor will be immediately notified of this.</li>
 	<li>Your tutor will annotate your solution and upload it as a 'feedback' document to the study site where only you can see/ download / print it.</li>
 	<li>We aim to mark and return your exam to you within one week.</li>
</ul>
Please email <a href="mailto:mark@fmetraining.com">mark@fmetraining.com</a> with any comments / feedback, either before, during or after this process.