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Some frequently asked questions about the Corporate Finance (CF) qualification.

Study route

  • Is the syllabus internationally applicable?

    The syllabus is focused on corporate finance practice and theory and as such is internationally applicable. The syllabus also covers UK listing rules which are directly relevant to many members practicing outside the UK, including those advising clients listed on a London Exchange. We have international students from a variety of locations including; South Africa, Bucharest, Singapore, Bahrain, Dubai and Hong Kong SAR.

  • What are the entry requirements for the Diploma in Corporate Finance?

    Candidates need to hold either:

    • CISI Certificate in Corporate Finance
    • ICAEW ACA
    • Or a recognised Accountancy qualification

    Full details are available on the Diploma in Corporate Finance webpage.

  • What format are the exams?

    The Diploma in Corporate Finance consists of three on-demand exams and one narrative exam. The three new on-demand exams provide a flexible progression route, with each building upon the last in terms of required study hours and complexity.

    Diagram showing Diploma exam format for papers 1-4
  • How is the studying done?

    Either through distance learning (self-study from anywhere in the world with the support of online materials) or classroom learning (with a tutor, surrounded by peers). Find a training partner near you.

  • Where / when can I sit the Diploma in Corporate Finance exams?
    Exams Dates
    Financial Reporting & Financial Statements Analysis On demand
    Sources of Finance,Capital Investments & Valuations On demand
    Mergers & Acquisitions & Market Regulations On demand
    Corporate Finance Strategy & Advice 3 June 2024 – 13:00 BST
    25 November 2024 – 13:00 GMT
  • What is the estimated study time?
    • Financial Reporting & Financial Statements Analysis - around 60 hours of study
    • Sources of Finance, Capital Investments & Valuations - around 70 hours of study
    • Mergers & Acquisitions & Market Regulations - around 100 hours of study
    • Corporate Finance Strategy & Advice - around 300 hours of study
  • What is the pass mark?
    • Financial Reporting & Financial Statements Analysis – 70%
    • Sources of Finance, Capital Investments & Valuations - 70%
    • Mergers & Acquisitions & Market Regulations – 60%
    • Corporate Finance Strategy & Advice - The pass mark varies but is never less than 50%
  • How long are the exams?
    • Paper 1 - 50-minute multiple-choice exam, available on demand
    • Paper 2 - 60-minute multiple-choice exam, available on demand
    • Paper 3 - 70-minute exam, available on demand
    • Paper 4 - 4-hour open-book examination based on a case study

Eligibility to apply for the experience route

Examination of Experience

Answering the Examination of Experience requirements

Examination of Experience resubmission requirements

  • If I am unsuccessful, can I re-apply?

    You may re-apply until you reach the maximum of four attempts. Details of resubmission requirements are set out in the feedback to unsuccessful applicants.

  • Do I submit all the transactions when I resubmit my Examination of Experience?

    When you resubmit your Examination of Experience, you should submit all six of the original copies of your transactions together with any reworked and/or new transactions as recommended in the examiners’ feedback. You should read this feedback carefully in order to satisfy all requirements. All transactions should be marked appropriately in accordance with the instructions within your results and feedback letter. You must ensure that all transactions submitted were completed or terminated within the last five years.

  • Do I need to include new examples in the transactions that I am resubmitting?

    The Examination of Experience refers to the use of examples of experience that are recent. This means examples of experience from within the last five years. As it may have been some time since you last applied, you will need to make sure that when resubmitting the transactions previously failed, you include examples from within the last five years. This enables you to include and reflect upon the most up-to-date and relevant examples in your answers.

    All transactions and deals must be verified by a transaction or deal certifier. Where they have been reworked for resubmission, they must be reverified by a transaction or deal certifier.

  • Do I need to include a curriculum vitae (CV) in my resubmission?

    Yes, if it has been some time since you applied, an up-to-date copy of your CV is requested. This enables you to include any new positions you have held or currently hold since your last application.

  • Do I need to ask my certifier(s) and referees to sign off my resubmission?

    Yes, the assessors will expect your certifier(s) to have read the deals and/or transactions in your resubmission and reverify each one as authentic and a true record. Your referees must also reconfirm the accuracy of the total resubmission and recommend you for this qualification. The certifier(s) and referees may be those from your previous application.

  • What is the cost to resubmit my application should I fail?

    The cost of each resubmission is £788.00 + VAT

  • What is the cost to resubmit my application should I fail?

    If you require further information or advise, our CF qualification team is available to answer your questions, please call +44 (0)1908 248 250 or email cfqualification@icaew.com.


Assessment of the Examination of Experience

  • Who will assess my Examination of Experience?

    Suitably qualified and respected members of the corporate finance community have been invited by ICAEW to mark and assess your application. They combine the necessary technical skills and practical experience with a thorough knowledge and understanding of the assessment. ICAEW is a highly regarded awarding body and, in order to ensure that the CF qualification standards are consistent and results are reliable, employs similar assessment procedures for all its qualifications which include double marking.

Contact us

Contact the team

For further information or advice on the CF qualification:

Comprehensive and practical qualification which provides all those who complete it with practical and relevant skills.

Jon Moulton CF Chairman, Better Capital LLP