CISI Corporate Finance Strategy and Advice Exam Preparation
Structured preparation for the final Level 6 CFSA unit in the CISI Diploma in Corporate Finance, covering the latest syllabus and four-hour open-book case-study assessment.
Course syllabus information reviewed for 2026. Always check the awarding body’s latest official syllabus and candidate updates before booking or sitting your exam.
Prepare for the CISI Corporate Finance Strategy and Advice examination
Corporate Finance Strategy and Advice is the final Level 6 narrative unit in the current CISI Diploma in Corporate Finance route. It follows Financial Reporting and Financial Statements Analysis, Sources of Finance, Capital Investments and Valuations, and Mergers & Acquisitions and Market Regulations.
This course page follows the latest official syllabus structure reviewed for 2026. Version 12 groups the technical content into Corporate Strategy, Mergers and Acquisitions, Corporate Performance and Reconstructions, and supporting transaction material. The three weighted areas carry ranges of 15-35%, 35-50% and 30-50% respectively, so candidates must prepare for an integrated scenario rather than predict one fixed topic split.
The official assessment is a four-hour open-book case study. Candidates receive 55 minutes to review and annotate the information before the three-hour written stage. The assessment tests the ability to assimilate evidence, analyse financial and non-financial information, exercise professional and ethical judgement, and communicate practical recommendations. The learning and case-study practice bank is currently being completed, and purchasers see the current two-hour update notice while that work finishes.
Exam Format & Details
| Assessment | Four-hour open-book narrative case study: 55-minute review stage followed by three hours of written answers |
| Duration | 240 Minutes |
| Level | CISI Level 6 |
| Total Qualification Time | 300 hours |
Key Benefits
Four-hour case-study method
Separate the 55-minute information-review stage from the three-hour writing stage and use each period deliberately.
- ✓ Issue and evidence mapping
- ✓ Analysis and calculation planning
- ✓ Timed report delivery
Integrated corporate-finance judgement
Connect strategic, transaction, performance and regulatory evidence before selecting a recommendation.
- ✓ Corporate strategy and value creation
- ✓ M&A alternatives and financing
- ✓ Performance, recovery and reconstruction
Board-level report structure
Turn case facts into balanced analysis, conclusions and practical recommendations for the intended audience.
- ✓ Executive summary and terms of reference
- ✓ Numerical and narrative evidence
- ✓ Risks, implementation and next steps
Syllabus
Module 1: Corporate Strategy
Analyse domestic and international business strategy and give relevant advice. This area carries an official weighting range of 15-35%.
- • SWOT, PEST and Porter's Five Forces
- • Growth strategy and value creation
- • Acquisition versus organic growth
- • Disposals and the disposal process
Module 2: Mergers and Acquisitions
Evaluate acquisition finance, valuation, enlarged-group effects, integration, restructuring, sale preparation and due diligence. This area carries an official weighting range of 35-50%.
- • Acquisition financing and financial effects
- • Free-cash-flow, multiples and comparable-company valuation
- • Synergies and post-acquisition integration
- • Schemes, sale preparation, due diligence and dividend policy
Module 3: Corporate Performance and Reconstructions
Assess advanced corporate performance, recovery, reconstruction, schemes and private equity. This area carries an official weighting range of 30-50%.
- • Economic value added and performance analysis
- • Business recovery and reconstruction
- • Schemes of arrangement
- • Role of private equity
Module 4: Supporting Material for Sections 2 and 3
Apply the transaction, capital-markets, advisory, regulatory, governance and investor-relations knowledge required within M&A and reconstruction scenarios.
- • Advisory team and capital-raising methods
- • Flotations, private equity and quoted-company transactions
- • UK Listing Rules, Takeover Code, DTR, UK MAR and AIM Rules
- • Directors, governance, shareholders and confidential information
Who Is This For?
Preparation centre
CISI Corporate Finance Strategy and Advice Exam Guides
Use these connected guides for the syllabus, exam format, booking and revision strategy.
Frequently Asked Questions
Corporate Finance Strategy and Advice is assessed through a four-hour open-book narrative case study. Candidates have 55 minutes to review and annotate the information and examination paper, followed by three hours for the written answers.
CFSA is the final Level 6 unit in the current four-unit Diploma route. It follows FRFS, SFCIV and MAMR. Candidates using legacy or exemption routes should check their current eligibility directly with CISI.
Version 12 gives Corporate Strategy a 15-35% range, Mergers and Acquisitions 35-50%, and Corporate Performance and Reconstructions 30-50%. Supporting material is applied within the M&A and reconstruction sections rather than receiving a separate weighting.
No. It is an open-book narrative case study requiring analysis, professional judgement, conclusions and commercially practical recommendations. Any interactive scenarios in our supporting articles are answer-planning practice, not a reproduction of the official assessment.
Checkout is open while the latest learning content and case-study practice bank are being completed. Purchasers see the current two-hour completion notice on their dashboard.
CISI Corporate Finance Strategy and Advice
Course Features
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