Strategic Level

F3 Objective Test

  • 10 hours of on-demand video lectures by a subject expert
  • 500+ post-chapter CIMA-grade practice questions
  • 5 Mock Exams of 60 questions each
  • Downloadable course notes covering the entire syllabus
The course is on-demand. Access lasts 6 months from the purchase date.
what will you be learning?

Course Syllabus

The different strategic financial objectives and policy options that are open to organisations.

The types of funds available to organisations to finance the implementation of their strategies, including where and how they access these funds at the right time, in the right quantities and at the right cost.

The sources of financial risk, how to evaluate and manage financial risk appropriately, and techniques in business valuation to assess whether a company has created and preserved value within the organisation.

The valuation techniques to calculate value of organisations and conditions applicable for such calculations especially intangibles in the digital world and how to report intangible value and their drivers in integrated reporting.

Pre-course work
1.5 hours of tuition
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Objective Test Success
ELITE COURSE ONLY
This introductory set of videos gets you oriented before digging into the specifics of F3. You will learn about where this subject fits into the overall CIMA qualification, the format of the Objective Test exam, the best approach to study, and the optimal technique on exam day.
Week 1
4 hours of tuition
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Strategic Objectives
The first chapter explains the nature of strategic objectives from a financial perspective. You will learn about financial return calculations, sensitivity to variables, and the relevance of non-financial objectives. Then once you’ve completed the video lessons, you’ll get to test your understanding with 50 exam-grade questions on our online CIMA exam simulator.
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Strategic Financial Policy Decisions
Once we’re clear on the role of objectives, it’s time to figure out how to formulate a strategic financial policy. You’ll be taught about investment, financing and dividend decisions, international financial strategy, the impact of financial strategy on key ratios, and external influences on financial strategy. Then it’s time to test yourself with 36 challenging exam-style questions.
Week 2
9 hours of tuition
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Long-term Debt Finance
Here we do a deep dive on the nature and sources of long-term debt finance. We’ll compare and contrast with short- and medium-term debt finance, and discuss issues such as convertible debt calculations and leasing. Consolidate your learning with 38 exam questions at the end of the chapter.
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Equity Finance
Another approach to financing here, we break down the complexities of equity finance in an easy to digest way. You will come away with an understanding of types of shares and capital markets, issuing shares, rights issues and cost of equity. This chapter includes another 62 exam-standard practice questions.
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Dividend Policy
Here you will learn about what influences dividend policy, the dividend irrelevance theory, and alternatives to cash dividends. Another 33 challenging questions await you to ensure you’ve taken it all in.
GMT
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Capital Structure
At a strategic level, you need to have a firm grasp of how capital operates within an organisation. Here your tutor will guide you through technical concepts like weighted average cost of capital (WACC), capital structure theories, MM capital structure calculations, and real world capital structure. As always, you get to confirm your understanding with another 47 exam questions.
Week 3
8.5 hours of tuition
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Financial Risk
Risk is a crucial component of the strategic level, and here we approach risk from the financial perspective. You’ll be introduced to different types of financial risk, and how to quantify financial risk. Check your comprehension with 16 CIMA-grade questions.
GMT
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Currency Risk - Exchange Rates
You’ll be trained in key terminology when it comes to discussing currency, as well learning about factors that affect foreign exchange rates, the fisher effect, and practical steps for managing foreign exchange risk. Once you work through the video lectures, test yourself with 21 exam-grade questions.
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Managing Currency Risk
In this chapter, you’ll learn about forward contracts, money market hedges, futures contracts and currency options, among other methods of managing currency risk. 25 more end of chapter exam questions await to consolidate your learning.
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Managing Interest Risk
Interest rates are an often-overlooked source of financial risk. Here you will learn different methods for reducing that risk, from forward rate agreements (FRAs), through interest rate futures (IRFs) and OTC interest rate options, to interest rate swaps. Complete your chapter with 55 exam-grade questions.
Week 4
10 hours of tuition
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Context of Business Valuations
Here you’ll get a grounding in the fundamentals of business valuations. Your tutor will explain reasons for acquisitions, different types of acquisitions, and common issues with acquisitions. Another challenging set of 45 practice questions awaits you.
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Introduction to Valuation Methods
In this series of lessons you’ll get into the nuts and bolts of valuation. Your tutor will guide you through the efficient market hypothesis, asset based valuation, intangible assets, the dividend valuation model, price earnings valuations and cash flow valuations. Put your understanding to the test with 55 challenging exam-grade questions.
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Advanced Valuation Methods
Here we get into the really high-level stuff! Your tutor will break down for you a series of advanced valuation methods, as well as valuations using a proxy company. Confirm your comprehension with another 55 CIMA-grade questions.
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Pricing and Post-transaction Issues
The final series of video lessons takes in financing an offer, post-acquisition share values, hostile takeovers and the integration of a new business. Round out your learning with 74 exam-style test questions.
Week 5
7.5 hours of tuition
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Mock Exam
self-paced
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Mock Exam 1
Now’s your chance to prove yourself, by taking VIVA’s CIMA-grade mock exams in our online exam simulator. As in the real-life F3 exam, you’ll have 90 minutes to answer 60 questions.
GMT
Mock Exam
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Mock Exam 2
Our second set of 60 exam-style questions replicating the real exam scenario.
GMT
Mock Exam
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Mock Exam 3
Your third mock exam of unique, CIMA-grade questions.
GMT
Mock Exam
self-paced
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Mock Exam 4
Having completed three full mock exams of unique questions, you should now be feeling close to ready for the real-life equivalent. But just to keep you on your toes, we’ve included two more mock exams - this time compiled from a selection of end-of-chapter questions from the core materials.
GMT
Mock Exam
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Mock Exam 5
The 5th and final full mock exam - once you’ve completed this, you stand ready to nail that real-life CIMA exam!
Week 6
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Hotspot sessions

As well as access to over 10 hours of on-demand video lectures covering the core syllabus, you will find bonus "Hotspot Sessions". For those particularly trick subject areas, your tutor offers a deeper dive to ensure understanding.

  • Complex topics are broken down into plain English
  • All hotspot topics are explained with concrete examples
  • Walkthroughs of exam-style questions to ensure full comprehension

Live webinars

Tap into your course tutor’s deep expertise by asking questions & getting answers immediately. From pre-seen analyses to mid-course check-ins, our live sessions cover a range of topics and student needs. And if you miss a session, you can always watch the replay.

  • Interact with your CIMA tutors during Q&A segments
  • Never miss a session with full replay access
  • Mock writing guidance, theory applied sessions, and more.

Personalisation and learning analytics

Our course design is based on the latest science of learning. Part of optimal study is ensuring that you have the data and control that you need to shape the resources to your needs. VIVA does just that.

  • Data dashboard to track your course progress and average scores
  • Control video playback - slow down or speed up as you require
  • Progress tracker ensures you know where you last stopped studying

Online exam simulator

Not only to do you get 500+ CIMA-grade practice questions as standard - but you get to practice these in our online exam simulator, to ensure maximal preparation for the real-life exam!

  • Choose from 3 time modes - No Limit, Exam Mode, or Quick Mode
  • Choose how you see your answers - after each question, or after the exam
  • See mock breakdown of how you scored in each syllabus area

Complete mock exam coverage

The Case Study course comes complete with professionally written mock exams as standard (3 for OCS, 5 for MCS and SCS), freshly written for each new pre-seen cycle. Our mocks are weighted in accordance with official CIMA subject and grading criteria.

  • Professionally written mocks tailored to current pre-seen document
  • Model solutions written by former CIMA prizewinners
  • Unlock mock marking at any time for complete exam preparation
Elite only

Live Workshops

As an Elite Student, you will gain access to 12 hours of private, live cohort workshops with your expert Case Study tutor. Each workshop is thematically focused on a different aspect of the Case Study exam, with an emphasis on practice, application, and exam technique secrets.

  • Work with your tutor and fellow Elite students on problems
  • Offer and exchange ideas, feedback, and doubts with your tutor
  • Develop answers and insights in collaboration
Elite only

Tutor-led Forums

As an Elite student, you will gain exclusive 24 hour access to a private, tutor-led Slack discussion group. Here you will be able to post and share queries, topics for discussion, helpful sources and articles. Your tutor will also regularly share helpful materials, and prompt discussions and debate between workshop sessions.

  • Bounce ideas off fellow Elite students in relaxed environment
  • Take advantage of Slack's great community features
  • Seek assistance from your Tutor at any time

Live workshops

Our live sessions are run outside of work hours. Tap into your course tutor’s deep expertise by asking questions & getting answers immediately. From pre-seen analyses to intensive workshops, our live sessions cover a range of topics and student needs. And if you miss a session, you can always watch the replay.

  • Interact with your CIMA tutors
  • Elite workshop sessions with lecturer and small student cohorts
  • Receive regular notifications on upcoming webinars

Tutor-led private discussion group

"I have tried mocks from other providers, but VIVA's are the best". Neofytus (SCS Aug17) isn't alone in thinking this. Our Case Study mocks are written in-house by our team of CIMA experts, tailored to the current pre-seen, and modelled closely on the real CIMA papers. Practice in our online exam simulator under timed conditions.

  • 13 Mock Exams per exam window across OCS, MCS and SCS
  • Professionally prepared model answers with every mock
  • Marking services can be added at any time

Mock marking

120+ hours of video lectures by subject experts, covering the entire CIMA syllabus. That's an average of 10 hours per subject. Watch anywhere, anytime. All our lectures are concise, high definition, using only the highest quality audio and example-led visualisations.

  • Special hotspot sessions devote additional time to tricky areas
  • Learning interface keeps track of where you stopped watching
  • View at any speed setting that you prefer

Tutor office hours

"I have tried mocks from other providers, but VIVA's are the best". Neofytus (SCS Aug17) isn't alone in thinking this. Our Case Study mocks are written in-house by our team of CIMA experts, tailored to the current pre-seen, and modelled closely on the real CIMA papers. Practice in our online exam simulator under timed conditions.

  • 13 Mock Exams per exam window across OCS, MCS and SCS
  • Professionally prepared model answers with every mock
  • Marking services can be added at any time
Course Tutor Picture
Your expert tutor
Ben Wilson

A former Big 4 auditor, for the past 12 years Ben Wilson has worked at the top of the professional education market, working first as a lecturer and manager at Kaplan before moving to Avado as their Head of Learning.

Ben teaches VIVA's E3 and F3 subjects. He is also VIVA's MCS tutor.

CIMA Global Pass Rate Excellence Award Badge

VIVA was one of only six tuition providers worldwide to win the prestigious CIMA Global Pass Rate Excellence Award in 2020.

Purchase options

Course Pricing

Choose a single course or our excellent value All Access Pass
Choose from our Standard* or Elite Courses
(*Standard Courses are included in All Access membership)
F3 Objective Test
Standard Course

A comprehensive online course for the independent learner

Pre-seen Analysis Lectures (4 hrs)
Objective Review Lectures (3 hrs)
E3/F3/P3 Applied Lectures (6 hrs)
E2/F2/P2 Applied Lectures (6 hrs)
E1/F1/P1 Applied Lectures (6 hrs)
5 Mock Exams with Solutions
3 Mock Exams with Solutions
Tutor-Annotated Pre-seen
2 Live Tutor Check-in Sessions
100s of Pages of Course Notes
Unlimited Replays of Live Webinars
Private Student Discussion Group
Live Tutor Workshops (12 hours)
Mock Marking*
Personal Tutor Office Hours
3 Live Mock Debrief Sessions
Private Tutor-Led Forum

Course access runs until 31st of August 2022.
*Mock marking can be purchased separately at any time.

F3 Objective Test
Elite Course

Ideal for students seeking intensive, personalised 1-to-1 training

Pre-seen Analysis Lectures (4 hrs)
Objective Review Lectures (3 hrs)
E3/F3/P3 Applied Lectures (6 hrs)
E2/F2/P2 Applied Lectures (6 hrs)
E1/F1/P1 Applied Lectures (6 hrs)
5 Mock Exams with Solutions
3 Mock Exams with Solutions
Tutor-Annotated Pre-seen
2 Live Tutor Check-in Sessions
100s of Pages of Course Notes
Unlimited replays of live webinars
Private Student Discussion Group
Live Tutor Workshops (12 hours)
Mock Marking for All Mocks
Personal Tutor Office Hours
3 Live Mock Debrief Sessions
Private Tutor-Led Forum

Course access runs until 31st of August 2022.

F3 Objective Test
Single Course

Access to the F3 Objective Test Course until the end of the chosen exam window.

OCS
OCS
E1
E1
P1
P1
F1
F1
MCS
MCS
E2
E2
P2
P2
F2
F2
SCS
SCS
E3
E3
P3
P3
F3
F3

Ideal for those who are soon sitting the F3 Objective Test but are unsure of their future study plans.

CIMA All Access Pass
All 12 CIMA Courses
Unlimited access to all CIMA Courses for 12 months, inc all Case Study & Objective Test mock exams
OCS
E1
P1
F1
MCS
E2
P2
F2
SCS
E3
P3
F3
Designed for those students who would like to complete 2 or more courses over the next year.
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CIMA All Access Pass

Unlimited Access to all CIMA Standard Courses for 12 months. Designed for students who would like to complete 2 or more courses over the next year.

Access to all CIMA Courses for 12 months

OCS
E1
P1
F1
MCS
E2
P2
F2
SCS
E3
P3
F3

Designed for those students who would like to complete 2 or more courses over the next year.

  • 1,000+ hours of premium CIMA study content
  • All Case Study/Objective Test Mock Exams included
  • Hundreds of hours of on-demand video lectures
  • Downloadable course notes covering entire syllabus
  • All materials automatically updated throughout year
Only £34 per course, saving you £1000s vs buying each course separately!
£369

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Despite very difficult personal circumstances, with VIVA's help I managed to not only pass the SCS but to achieve my highest case study score from the 3 levels. Please keep doing what you do as it's so good!
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I have passed my MCS exam on my 4th attempt but the first time using VIVA's course. The mock feedback was very informative. I will recommend you to my friends and expect me back for the Strategic level!
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I passed my OCS with a scaled score of 137 and got a letter from CIMA saying that I obtained the joint third position for the February 2019 case study and I believe that VIVA's materials really helped to make this possible.
Rachel Elliott
Very helpful insights into the Case Study exams. Great explanations and examples!
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Before I signed up with VIVA's course I was already enrolled with another tuition provider, and the way VIVA runs this course is 100x better! I will highly recommend you to my coworkers who are early in their CIMA journey.
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I have noticed a significant increase in my marks after the introduction of VIVA's professional marking and feedback. I managed to pass all three Case Study exams at the 1st attempt and this wouldn't have been possible without VIVA.
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Course FAQs

If I fail my exam, will I still have access to the VIVA course?

That depends on the plan you purchase. If you purchase a single case study course, you will have access for the duration of the relevant exam window (i.e. until the final CIMA exam date for that window). If you purchase a single objective test course, you will have 6 months of access to the course from the date of purchase. If you purchase the All Access membership, you will have access to the course (and all courses) for 12 months from the date of purchase. And don’t worry: your subscription/access will not auto-renew. You will be automatically notified when your access is due to expire, but you get to decide whether or not you would like to renew.

How is this course so cheap? I see other tuition providers charging thousands for single courses.

VIVA was born entirely online, and since day one has maintained a small team of dedicated experts. This low cost-base has allowed for relatively high investment in a streamlined online learning platform and high-quality production values. This in turn has allowed us to scale our tuition rapidly, reaching thousands of students across the world.

Our low cost-base and scaled delivery affords us the luxury of being able to charge radically lower prices for premium-grade courses than traditional, brick-and-mortar tuition providers (or online providers with bloated administration and sales teams who target and service large institutional clients).

Does VIVA offer feedback/marking on students’ mock exam answers?

Yes. After you purchase a Case Study course or All Access membership with VIVA, you will be offered the chance to add marking services to your account. You will be able to purchase corrections for anywhere from 1 mock exam to 5 mock exams, and these can be used during any of the Case Study exam windows. Once you have 5 mock exams corrected (whether during one exam window or across several), you can repurchase corrections services as and when needed.

Case Study Elite course students have marking for 5 mock exams included as standard.

Can I download the video lessons, or view them offline?

No, the video lessons can only be viewed online on VIVA’s website and may not be downloaded due to copyright restrictions.

What’s VIVA’s pass rate?

Due to GDPR restrictions, it is increasingly difficult to compile our students’ pass rates whether directly or via CIMA. However, VIVA has had consistently high pass rates over the years, and this is attested to by the fact that VIVA was awarded the prestigious Global Pass Rate Excellence Award in 2020 by CIMA itself.

Make sure to check out what students are saying about us here.

What if I don’t like the course? Is there some kind of money back guarantee?

Yes, if within 72 hours of purchasing you are not satisfied with VIVA’s course, you are entitled to claim an immediate refund - no questions asked.

I have another question that is not answered here. How can I get in touch with VIVA?

If you're still confused, just drop us an email at info@vivatuition.com, or use our live chat box (bottom right), and a member of the team will be happy to help.