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 STRATEGIC COST MANAGEMENT
Question Number CHAPTER NAME Question No. Source Page Number Topic

2 Decision Making Illustration 10 ICMAI MAT 103 Shut Down

Evaluation of offer - relevant cost of material, labour,
Illustration 32 ICMAI MAT 168 machinery, oh
Illustration 15 ICMAI MAT 113 Fixation of Selling Price
Illustration 3 ICMAI MAT 87 Limiting Factor Analysis & optimum mix - shadow price
Illustration 12 ICMAI MAT 107 Make or Buy and Evaluation of alternatives
2 June 25 Relevant Costing - Airlines
Example 2 ICMAI MAT 135 Revised Labour & OH budget and Lowest price
4(a) June 23 - Relevant Costing
2 June 24 - Subcontracting

3(a) Transfer Pricing Illustration 20 ICMAI MAT 144 Minimum Transfer Price with key factor
Illustration 19 ICMAI MAT 142 Transfer Pricing - maximum profit
Illustration 21 ICMAI MAT 146 Transfer Pricing - different capacity levels
Illustration 22 ICMAI MAT 149 Transfer Price - Shared Profit, Market Price

3(b) Decision Making Illustration 41 ICMAI MAT 189 Target Costing

Illustration 43 ICMAI MAT 191 Target Labour Time
Illustration 46 ICMAI MAT 196 Target Costing - target no of supervisors
Illustration 52 ICMAI MAT 216 Asset life cycle costing - when should be replaced
Illustration 56 ICMAI MAT 232 Decision Making using probability

4(a) Activity Based Management Illustration 6 ICMAI MAT 272 ABC vs Conventional
4(a) Dec 24 ABC vs absorption costing
Illustration 7 ICMAI MAT 276 ABC - comparative statement
Illustration 14 ICMAI MAT 298 Throughput Accounting
Illustration 17 ICMAI MAT 304 Throughput accounting - evaluation of alternatives
Illustration 13 ICMAI MAT

e297 Throughput Accounting

4(b) Introduction to SCM (Theory)

ut
ICMAI MAT 7 Elements in Porter Value chain
ICMAI MAT 24 Phases of Value Analysis
ICMAI MAT 27 Business Process Reengineering
ICMAI MAT 32 Importance of Supply chain management
t
ICMAI MAT 8 Steps in developing value chain
sti

ICMAI MAT 58 Lean Accounting and Principles

ICMAI MAT 65 Six Sigma - DMAIC and DMADV

5 Variance Analysis Illustration 6 ICMAI MAT 375 Material Variances

In

Illustration 4 ICMAI MAT 366 Reconciliation of profit

Illustration 22 ICMAI MAT 400 Reconciliation of profit
5 Dec 24 Reconciliation of profit
5(a) June 23 Traditional, Planning and Operating Variances
Illustration 15 ICMAI MAT 387 Target sales and margin
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6(a) Assignment/LPP/Transportation q3 ICMAI MAT 545 Assignment - salesman - maximize total sales
Illustration 7 ICMAI MAT 530 Assignment - Travelling salesman
SJ

q5 ICMAI MAT 546 Assignment - Airlines Idle Time

Illustration 2 ICMAI MAT 427 Formulation of LPP - transportation
Illustration 2 ICMAI MAT 427 Multiple Process Accounts
Illustration 12 ICMAI MAT 452 Primal and dual LPP
Illustration 7 ICMAI MAT 494 VAM - unbalanced - minimization of total cost

6(b) Simulation CNP 1 ICMAI MAT 596 Cars waiting and empty spaces
CNP 2 ICMAI MAT 596 Pump Service Line and Pb of idle
CNP 4 ICMAI MAT 598 Ordering Books

7(a) Network Analysis Illustration 4 ICMAI MAT 613 Amount of bid using PERT
CNP 4 ICMAI MAT 634 Crashing
Illustration 1 ICMAI MAT 633 Float
7 June 25 Pb of completion and updation

7(b) Learning Curve Illustration 4 ICMAI MAT 648 Initial and repeat order cost
Illustration 6 ICMAI MAT 659 Changes made by customer
10(a) June 23 Learning Rate

8(a) Maxima and Minima Illustration 2 ICMAI MAT 664 Minimization Problem
Illustration 6 ICMAI MAT 670 Multi Plants
Illustration 7 ICMAI MAT 671 Multi Markets
CNP 1 ICMAI MAT 680 Multi Products
or
Game Theory Illustration 1 ICMAI MAT 555 Mixed Strategy
Illustration 2 ICMAI MAT 556 Transpose
Illustration 4 ICMAI MAT 559 Matrix preparation
9a June 23 Payoff Matrix

8(b) Business Forecasting Models Illustration 1 ICMAI MAT 688 Method of Least Squares - Casual relationship
Illustration 4 ICMAI MAT 697 Moving Average Trend - Even Period

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 Illustration 9 ICMAI MAT 706 Quarterly Sales Indices - Linear equation
CNP 5 ICMAI MAT 718 Two types of Regression Equation

9 practical MCQs and 6 theory MCQs

Decision Making 3
Introduction to SCM 1
Quality Cost Management 1
Activity Based Management 1
Learning Curve 1
Data Analytics 2
Variance Analysis 1
Network Analysis 1
simulation 1
Maxima & Minima 1
Assignment / Transportation / Business
Forecasting Models 1
Game Theory 1

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 STRATEGIC FINANCIAL MANAGEMENT
Question Number CHAPTER NAME Source Question No. Page Number Topic illustration No. Pg No.
Previous ICMAI Mat Link - Latest ICMAI Mat Link -
Click here Click here
2(a) Capital Budgeting ICMAI MAT Illustration 20 35 Inflation adjusted NPV 21 36
ICMAI MAT Illustration 27 47 Replacement and Independent Evaluation 2 43
ICMAI MAT Illustration 29 50 Replacement - 3 machines 4 46
ICMAI MAT Illustration 34 59 Replacement 9 54
ICMAI MAT Illustration 35 60 Working Capital 10 56

2(b) Leasing ICMAI MAT Illustration 8 140 Lease vs Buy 2 124

ICMAI MAT Illustration 16 150 Lease Rental - beginning of the year 8 131
ICMAI MAT Illustration 4 155 Lease vs Buy, Rental 4 143

3(a) Risk Analysis in Capital Budgeting ICMAI MAT Illustration 11 88 Decision Tree 10 79
ICMAI MAT Illustration 13 93 Sensitivity Analysis 11 84
ICMAI MAT Illustration 18 102 Expected NPV and Std Deviation 3 90
Postal Test Paper Q1 Best Case and Worst Case 12 85
3(b) Equity Valuation ICMAI MAT Illustration 8 256 Three stage growth model 8 207
ICMAI MAT Illustration 8 273 Two stage model 8 222
ICMAI MAT Illustration 11 275 Various situations 10 223

4(a) Bond Valuation ICMAI MAT Illustration 13 266 Pricing of Semi Annual Coupon Bond 13 214
ICMAI MAT Illustration 15 268 YTC and YTM 15 217
Video Link ICMAI MAT 1 293 Forward Rates from ZCB 1 227
Video Link Dec 23 4(a) Convertible Bond
June 24 4(a) Convertible Bond
Dec 24 4(a) Convertible Bond
June 25 4(a) Convertible Bond

4(b) Mutual Fund ICMAI MAT Illustration 3 322 NAV for 3 years 3 256
ICMAI MAT Illustration 8 331 Treynor Ratio 6 262
ICMAI MAT Illustration 5(a) 339 Open End Fund with load 5 271
ICMAI MAT Illustration 9 341 Effective Yield Calculation 9 273
ICMAI MAT Illustration 12 344 Units, NAV, Yield, No. of days held 12 276
CA Final
ICMAI MAT
ICMAI MAT
ICMAI MAT
Illustration 13
Illustration 14
Illustration 15
345
347
348

e Dividend Equalisation Effect

Return, growth in NAV
Evaluation of Options using HPR
Q5a
13
14
May 25
277
278
ICMAI MAT Solved Case 1
ut 351 Annual rate of return 1 280

5(a) and 5(b) Portfolio Management ICMAI MAT Illustration 5 379 Return and Risk of Investment 6 310
ICMAI MAT Illustration 4 406 Corner Theory - Portfolio 3 333
t
ICMAI MAT Q3 439 Modifying Portfolio Beta
ICMAI MAT Illustration 13 417 Beta, SR, USR 16 352
sti

ICMAI MAT Illustration 14 419 Characteristic Line 10 344

ICMAI MAT Illustration 19 424 Variance using Sharpe Index and MPT 15 350
ICMAI MAT Illustration 16 497 Arbitrage pricing theory 14 403

6(a) Derivatives - Futures ICMAI MAT Illustration 10 598 Theoretical Futures Price 10 497
In

ICMAI MAT Illustration 13 602 Cash and Carry Arbitrage 14 501

ICMAI MAT Illustration 16 609 Cross Hedge 16 507
ICMAI MAT Illustration 17 610 Choice of Cross Hedge 17 509
ICMAI MAT Illustration 18 612 Perfect vs Imperfect Cross Hedge
ICMAI MAT Illustration 23 620 Future Rate Available vs Not Available Case Studies 594
CA Final May 25 AFM Q6(a) Margin Account
C

6(b) Derivatives - Options ICMAI MAT Illustration 41 651 Put Call Parity 40 540
ICMAI MAT Illustration 42 652 Single Period Binomial 41 541
ICMAI MAT Illustration 43 653 Two Period Binomial 42 542
SJ

ICMAI MAT Illustration 58 674 Valuation Using Delta Method 57 562

Swaps ICMAI MAT Illustration 69 695 Fixed to Floating - Gain Shared 66 577
ICMAI MAT Example 1 702 Credit Default Swap Example 583

Interest Rate Derivatives ICMAI MAT Illustration 75 707 FRA 72 587

ICMAI MAT Illustration 78 713 Interest Rate Cap and Floor 75 593

Foreign Exchange Risk

7(a) Management ICMAI MAT Illustration 5 768 Triangular arbitrage Example 649
ICMAI MAT Illustration 1 818 Modification of Fwd Contract - Delay by Bank 1 696
ICMAI MAT Illustration 6 826 Net Exposure and Offsetting 6 704
June 24 7a Pay or Avail Credit
December 23 7a Investment Analysis
CA Final Sep 25 6b Export Receivables - Leading

Foreign Exchange Risk

7(b) Management ICMAI MAT Illustration 5 823 Hedging using Various Methods 5 702
ICMAI MAT Illustration 7 827 Money Market Cover - Receivables and Payables 7 705
December 24 7b Appreciation and Depreciation

8(a) Digital Finance ICMAI MAT Find yourself Traditional vs digital Finance 718
ICMAI MAT Find yourself Benefits of digital finance 719
ICMAI MAT Find yourself Components of Digital Infrastructure 721
Advantages & disadvantages of digital
ICMAI MAT Find yourself finance 727
ICMAI MAT Find yourself Benefits of neobanks 728
ICMAI MAT Find yourself Fintech laws and regulations in India 733
Advantages & Disadvantages of
ICMAI MAT Find yourself Cryptocurrency 725

International Financial
8(b) Management Dec 24 8(b) Lending schemes of IMF
Dec 23 8(b) Major initiatives taken by World Bank
June 24 8(b) Features of GDR
ICMAI MAT Find yourself Eurobonds 621
ICMAI MAT Find yourself Benefits and Limitations of FCCB 622
ICMAI MAT Find yourself Advantages and Limitations of ADR 627

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 8(c) Securitisation ICMAI MAT Find yourself Benefits of securitization 148
ICMAI MAT Find yourself Participants in Securitization 150
ICMAI MAT Find yourself Problems of securitization 153
ICMAI MAT Find yourself Securtization Process 152
ICMAI MAT Find yourself Different Types of securities issued by SPV 154

For MCQs Base Case NPV 9 practical and 6 Theory MCQs

Modified NPV/IRR Capital Budgeting 1
NPV vs PI Portfolio Management 3
Option Greeks Equity Valuation 1
Forward premium Derivatives (option greeks mostly) 3
Parity Relationships Digital FInance 2
Forex 1
[Link] Efficient Market Hypothesis (forms of
CA Final Sep 25 AFM [Link] market) 1
[Link]
CA Final May 25 AFM [Link] Mutual Fund 1
Technical Analysis 2

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 STRATEGIC PERFORMANCE MANAGEMENT and Business Valuation
Question Number Chapter Name Question No. Source Page no Topic

ICMAI MAT 23 3 phases of P2P

ICMAI MAT 28 Supply chain Management - Concept, Components & Objectives
2(a) Introduction to performance management 2(a) ICMAI MAT 35 Use of business analytics in reverse mapping
ICMAI MAT 40 Types of CRM
ICMAI MAT 39 Optimization of O2C process

2(b) ICMAI MAT 71 Nine steps for successful implementation of BSC

ICMAI MAT 87 Types and Process of benchmarking
ICMAI MAT 95 DMAIC & DMIADV
ICMAI MAT 95 Key roles for successful deployment of six sigma
Performance Measurement, Evaluation & Improvement ICMAI MAT 121 Types of MIS Reports
Tools ICMAI MAT 127 TPM - Six Major Losses
ICMAI MAT 138 TQM - Steps

Illustration 1 ICMAI MAT 110 P chart

4(a) Solved case 3 ICMAI MAT 82 DU Pont analysis - Practical

Illus 4 ICMAI MAT 183 Selling price for maximum profit

3(a) 3(a) Dec 23 Maximum possible profit
Economic Efficiency of the Firm 3(a) Dec 24 Cost function

3(b) ICMAI MAT 204 Steps of Risk Management

ICMAI MAT 207 COSO Framework
ICMAI MAT 209 Components of ERM
ICMAI MAT 222 Risk Mapping
ICMAI MAT 231 REPM
ICMAI MAT 232 Risk Retention & Risk Reduction
Enterprise Risk Management
ICMAI MAT 235 Advantages and Limitations of VAR
ICMAI MAT 246 BASEL 1 and BASEL 2 difference

4(b) Solved case 6 ICMAI MAT 257 Altman Z score

Solved case 7 ICMAI MAT 263 Beneish M-score
4(b) June 24

e NCAER Model

5(a) Illustration 6
ut
ICMAI MAT 415 FCFE - Two phase
Q1 ICMAI MAT 438 FCFF - Two Phase
Illustration 11 ICMAI MAT 425 EV/EBITDA Ratio
Illustration 13 ICMAI MAT 432 BV, NAV on fair value, Value per share
t
Q6(a) CA Final Sep 25 FCFE - Two phase
sti
Q1(a) CA Final Sep 25 Ke, EPS, Equity Value, Enterprise Value
Q8 ICMAI MAT 551 Value of Business - Goodwill, Net Assets Method, Yield Method
Business Valuation Methods and Approaches
5(b) Illustration 12 ICMAI MAT 427 Value of Chat app
Illustration 14 ICMAI MAT 437 PV of EVA - Value of Firm
In

Q11 ICMAI MAT 469 Value of Business - Using Maintainable Profits

Q5 ICMAI MAT 464 Price Multiples based Valuation
Q12 ICMAI MAT 470 Value of Firm - MM Model
Q15 ICMAI MAT 472 Arbitrage - Levered and Unlevered Firm
Q8 ICMAI MAT 466 EVA
C

6(a) and (b) Illustration 9 ICMAI MAT 501 Valuation of Warrants

Illustration 10 ICMAI MAT 507 Valuation of Copyrights
Illustration 11 ICMAI MAT 509 Valuation of Goodwill
Illustration 12 ICMAI MAT 511 Valuation of Brand
SJ

Valuation of Assets and Liabilities Q13 ICMAI MAT 560 Valuation of Brand
Q17 ICMAI MAT 564 Valuation of Brand
Illustration 14 ICMAI MAT 518 Valuation of an Employee
6(a) Dec 23 Valuation of Real Estate
Q21 ICMAI MAT 569 Ecomomic Value Added

7(a), 7(b), 8(a), 8(b) Valuation of Mergers and Acquisitions Q9 ICMAI MAT 554 Buying Small Lot, Buying Controlling Interest
Illustration 3 ICMAI MAT 582 Acquisition premium, Acquirer's gain under various options
Illustration 6 ICMAI MAT 596 HHI
Purchase Price Premium, Exchange Ratio, No. of New Shares,
Q2 ICMAI MAT 632 Equity Distribution
Q5 ICMAI MAT 636 PE Ratio, EPS after acquisition
Q8 ICMAI MAT 639 Swap Ratio, EPS, MPS, MV, Gain/Loss
Q9 ICMAI MAT 640 PV of Growth Opportunities
Q10 ICMAI MAT 641 Reasonableness of ask price
Q11 ICMAI MAT 642 EPS, growth rates, negotiation, post merger EPS and MPS
Q12 ICMAI MAT 644 NPV of proposal
Q5 ICMAI MAT 322 NAV, Earning Capitalisation, Exchange Ratio
Q4(b) CA Final May 25 Pre Merger EPS and No. of Shares
Fundamentals of Business Valuation Q19 ICMAI MAT 654 Income Statement, Balance Sheet based on Ratio
Q5(b) CA Final May 25 Levered beta based Valuation

Case Study MCQs Data Envelopment Analysis

Formula for Efficiency and Productivity
Case Study based mcq (Q3 Pg 442)

CA Final Sep 25 AFM [Link]

CA Final May 25 AFM [Link]

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