7 Tips to Pass the ACCA AFM Exam
ACCA AFM has pass rates around 36-42%. Follow seven proven tips - from mastering FM foundations to professional marks - to pass the AFM exam first time.
Updated September 2023
ACCA AFM · Advanced Financial Management
Everything you need to pass ACCA AFM.
Covers advanced investment decisions, M&A, treasury management, and complex financial risk management. £149 on its own with 12 months' access, or every paper with All Access.
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Modern tuition
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AI Tutor in every lesson
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Every paper with All Access
- 3h 15m exam length
- Mar, Jun, Sep, Dec exam sessions
- Strategic Professional Option paper
- £149 on its own, 12 months' access
Taught by experts
Real experts behind every AFM course.
The qualified-accountant tutors who teach the paper, with an AI Tutor in every lesson.
Karl BallardAFM
Karl Ballard is VIVA's tutor for ACCA Performance Management (PM) and Advanced Financial Management (AFM).
ACCA AFM
Meet the tutors →
The syllabus
What AFM covers.
Advanced Financial Management (AFM) covers complex corporate finance: M&A, treasury management, real options, advanced risk hedging, and international financial management. It's aimed at senior finance professionals advising on major strategic financial decisions.
- ✓ Advanced investment appraisal: real options and APV
- ✓ Mergers and acquisitions: valuation and financing
- ✓ Treasury management and multinational finance
- ✓ Complex foreign exchange risk management
- ✓ Interest rate risk: advanced hedging instruments
- ✓ Behavioural finance and decision-making
The course, section by section
8 sections · 125 lessons · 19h 23m of video
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01 A. Role of the senior financial adviser in the multinational organisation 5 modules17 lessons2h 57m of video
- The role and responsibility of a senior financial executive 4 lessons 50m
- Theoretical and practical rationale for risk management 3 lessons 24m
- Ethics and governance 4 lessons 34m
- Management of international trade and finance 3 lessons 36m
- Dividend policy in multinationals and transfer pricing 3 lessons 33m
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02 B. Advanced investment appraisal 9 modules35 lessons4h 11m of video
- Net present value 5 lessons 37m
- IRR and MIRR 2 lessons 16m
- Capital rationing 2 lessons 15m
- Dealing with risk and uncertainty 3 lessons 15m
- Application of option pricing theory in investment decisions 9 lessons 45m
- International investment and financing decisions 3 lessons 34m
- Capital structure 4 lessons 33m
- Weighted average cost of capital 4 lessons 32m
- APV and risk-adjusted WACC 3 lessons 24m
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03 C. Acquisitions and mergers 4 modules12 lessons1h 20m of video
- Rationale for mergers and acquisitions 2 lessons 18m
- Business valuations 5 lessons 35m
- Regulatory framework and processes 2 lessons 13m
- Financing mergers and acquisitions 3 lessons 14m
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04 D. Corporate reconstruction and re-organisation 2 modules4 lessons33m of video
- Financial reconstruction 2 lessons 20m
- Business re-organisation 2 lessons 13m
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05 E. Treasury and advanced risk management techniques 4 modules19 lessons2h 20m of video
- The role of the treasury function in multinationals 2 lessons 10m
- Hedging basics 3 lessons 15m
- Managing forex risk 8 lessons 1h 4m
- Managing interest rate risk 6 lessons 51m
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06 AFM practice exam 1 3 modules13 lessons2h 40m of video
- Question 1 practice exam 1 (AFM) 6 lessons 1h 11m
- Question 2 practice exam 1 (AFM) 4 lessons 40m
- Question 3 practice exam 1 (AFM) 3 lessons 49m
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07 AFM practice exam 2 3 modules12 lessons2h 52m of video
- Question 1 practice exam 2 (AFM) 6 lessons 1h 25m
- Question 2 practice exam 2 (AFM) 3 lessons 41m
- Question 3 practice exam 2 (AFM) 3 lessons 46m
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08 AFM specimen exam 3 modules13 lessons2h 30m of video
- Question 1 specimen exam (AFM) 7 lessons 1h 7m
- Question 2 specimen exam (AFM) 3 lessons 41m
- Question 3 specimen exam (AFM) 3 lessons 42m
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Modern tuition
Expert video, with a tutor in every lesson.
Built and taught by qualified accountants who have taught these exams for years, with an AI Tutor sitting inside each lesson to answer the question you have right now.
- Experts Qualified accountants who have taught these exams for years: university lecturers, former Kaplan and BPP tutors, and accountants from the Big 4 and industry.
- AI Tutor Ask a question inside the lesson and get an answer grounded in that lesson.
- Pick up where you left off Your progress is saved lesson by lesson, so you always come back to the right place.
AI Tutor in every lesson
"Can you go through the Mergers and acquisitions part again, more simply?"
Of course. Here is the short version from this lesson, then the worked example again, one step at a time.
- Advanced investment appraisal: real options and APV 4:12
- Treasury management and multinational finance 5:02
- Complex foreign exchange risk management 9:20
ACCA Strategic Professional
AFM is one of the four Strategic Professional Options. You sit SBL and SBR, plus two of the four Options.
See all of Strategic Professional →- SBL Strategic Business Leader
- SBR Strategic Business Reporting
- AAA Advanced Audit and Assurance
- AFM Advanced Financial Management You are here
- APM Advanced Performance Management
- ATX Advanced Taxation
Read before you buy
Free Advanced Financial Management guides
ACCA pricing
Get AFM on its own, or every subject at once.
AFM only
£149
12 months' access
- Video lessons from expert tutors
- AI Tutor in every lesson
- Study at your own pace
All Access, 12 months
Best value£299
every subject · 12 months
- All 15 ACCA courses
- 250+ hours of video lessons
- AI Tutor in every lesson
- Move between levels any time
All Access, lifetime
£599
every subject · for life
- All 15 ACCA courses
- 250+ hours of video lessons
- AI Tutor in every lesson
- Move between levels any time
Single subjects and All Access 12 months give 12 months' access from the day you buy. All Access lifetime gives access to all current ACCA course content for life. Future premium features aren't included.
Questions
The things students ask before buying.
What does the AFM course include?
Expert video lessons from qualified-accountant tutors across the AFM syllabus, with an AI Tutor in every lesson and your progress saved as you go. £149 on its own, with 12 months' access.
How is AFM examined?
The AFM exam is 3h 15m long. AFM is sat in the March, June, September and December sessions.
Does the course cover the whole AFM syllabus?
Yes. The video lessons cover every section of the AFM syllabus, and the AI Tutor in each lesson answers questions on it as you study.
Do ACCA courses include mock exams?
ACCA courses are taught courses: video lessons with an AI Tutor in every lesson. Online mock exams with marking are part of our CIMA courses.
What if I buy one subject and want more later?
You never pay twice for the same course. What you have already paid for a subject comes off the price of All Access (£299 for 12 months), so you only pay the difference.
How long do I have access?
A single subject and All Access 12 months give you 12 months from the day you buy. All Access lifetime (£599) has no end date. Nothing renews automatically.
Ready for a clearer route to your AFM exam?
Get through your exams.
Get on with your life.
Take AFM on its own, or add it to the papers you have left.