E3 builds on the insights gained from E1 and E2 about how organisations effectively implement their strategies by aligning their structures, people, process, projects and relationships. E3 aims to develop the skills and abilities of the strategic leaders of organisations, enabling them to create the vision and direction for the growth and long-term sustainable success of the organisation. This involves successfully managing and leading change within the process of strategy formulation and implementation.

Topics covered

You’ll develop your skills and abilities to become an effective leader, so you’re able to both formulate strategy and to create the conditions for successful strategy implementation.

Course content:

• Strategy process
• Organisational ecosystem
• Strategic options
• Strategic choices
• Strategic control
• Digital strategy

• Dates:

   The Professional qualification is made up of two types of computer-based assessments:
  • 90 minute objective tests for each of the three subjects within each level - these are on demand and can be taken all year
  • A three hour case study exam when you have completed all objective tests and want to progress to the next level - these are available in four windows a year. Exams are available for five days from Tuesday to Saturday. View the current exam timetable.

• Scheduling:

   Objective tests are available all year. We recommend that you schedule an exam at least 2 weeks in advance.

• Locations:

   CIMA is working in partnership with Pearson VUE who have over 5,000 test centres in 178 countries. Find your nearest Pearson VUE centre.

• Duration:

   Objective tests are 90 minutes. Case study exams are 3 hours

• Exam requirements:

   You must pass (or be exempt from) all three objective tests at a level before you can move onto the case study exam. When you have passed the case study exam you can move onto the next level and start the objective tests for that level. The Strategic Level case study exam is the last exam that you will take.

• Pass marks:

   For information on pass marks for objective tests and case studies, please visit www.cimaglobal.com/results.

• More information:

   Visit the CIMA exam preparation page.

Students who have passed the Gateway Assessment will be exempt from the Certificate, Operational and Management levels and can move directly to the Strategic level. They will therefore be exempt from the Management Integrated Case Study. If students are part way through level then they will need to sit the new Objective Test for the papers yet to pass and the Management Integrated Case Study before proceeding to the Strategic Level.

If students have passed all three Strategic papers (E3, P3 and F3) under the 2010 syllabus then they can move onto the new Strategic Integrated Case Study, however if part way through the level then they will need to sit the new Objective Test for the papers yet to be sat and the Integrated Case study for that level. Students who have completed the Professional Competence Level Paper T4 – Part B (2010 syllabus or equivalent), will be give credit in the Strategic Case Study Exam. For more details please visit: www.cimaglobal.com/exemptions.

P3 shows how to identify, evaluate and manage various risks that could adversely affect the implementation of the organisation’s strategy. It provides the competencies required to analyse, evaluate and apply the techniques, processes and internal control systems required to manage risk. The insight is then used to manage the risk associated with cash flows and capital investment decisions – two important areas of organisational life for which the finance function is responsible.

Topics covered

You’ll learn how to specify and manage risks that could affect a company’s strategies. You’ll gain the skills to apply techniques used in risk management and understand how the oversight of risks is critical to the governance of the organisation.

Course content:

• Enterprise risk
• Strategic risk
• Internal controls
• Cyber security risks

• Dates:

   The Professional qualification is made up of two types of computer-based assessments:
  • 90 minute objective tests for each of the three subjects within each level - these are on demand and can be taken all year
  • A three hour case study exam when you have completed all objective tests and want to progress to the next level - these are available in four windows a year. Exams are available for five days from Tuesday to Saturday. View the current exam timetable.

• Scheduling:

   Objective tests are available all year. We recommend that you schedule an exam at least 2 weeks in advance.

• Locations:

   CIMA is working in partnership with Pearson VUE who have over 5,000 test centres in 178 countries. Find your nearest Pearson VUE centre.

• Duration:

   Objective tests are 90 minutes. Case study exams are 3 hours

• Exam requirements:

   You must pass (or be exempt from) all three objective tests at a level before you can move onto the case study exam. When you have passed the case study exam you can move onto the next level and start the objective tests for that level. The Strategic Level case study exam is the last exam that you will take.

• Pass marks:

   For information on pass marks for objective tests and case studies, please visit www.cimaglobal.com/results.

• More information:

   Visit the CIMA exam preparation page.

Students who have passed the Gateway Assessment will be exempt from the Certificate, Operational and Management levels and can move directly to the Strategic level. They will therefore be exempt from the Management Integrated Case Study. If students are part way through level then they will need to sit the new Objective Test for the papers yet to pass and the Management Integrated Case Study before proceeding to the Strategic Level.

If students have passed all three Strategic papers (E3, P3 and F3) under the 2010 syllabus then they can move onto the new Strategic Integrated Case Study, however if part way through the level then they will need to sit the new Objective Test for the papers yet to be sat and the Integrated Case study for that level. Students who have completed the Professional Competence Level Paper T4 – Part B (2010 syllabus or equivalent), will be give credit in the Strategic Case Study Exam.For more details please visit: cimaglobal.com/exemptions.

F3 focuses on the formulation and implementation of financial strategy to support the overall strategy of the organisation. Using insights gained from F1 and F2, it provides the competencies to evaluate the financial requirements of organisations and the relative merits of alternative sources of finance to meet these requirements. Finally the valuation of corporate entities for mergers, acquisitions and divestments.

Topics covered

You’ll gain an understanding of the different strategic financial objectives and policy options that are open to organisations and the factors that influence them. You’ll learn about the capital structure of a firm and sources long term funds, how to value investment opportunities, including the assessment of corporate entities for mergers, acquisitions and divestments and how to evaluate and manage financial risks.

Course content:

• Financial policy decisions
• Sources of long term funds
• Financial risks
• Business Valuations

• Dates:

   The Professional qualification is made up of two types of computer-based assessments:
  • 90 minute objective tests for each of the three subjects within each level - these are on demand and can be taken all year
  • A three hour case study exam when you have completed all objective tests and want to progress to the next level - these are available in four windows a year. Exams are available for five days from Tuesday to Saturday. View the current exam timetable.

• Scheduling:

   Objective tests are available all year. We recommend that you schedule an exam at least 2 weeks in advance.

• Locations:

   CIMA is working in partnership with Pearson VUE who have over 5,000 test centres in 178 countries. Find your nearest Pearson VUE centre.

• Duration:

   Objective tests are 90 minutes. Case study exams are 3 hours

• Exam requirements:

   You must pass (or be exempt from) all three objective tests at a level before you can move onto the case study exam. When you have passed the case study exam you can move onto the next level and start the objective tests for that level. The Strategic Level case study exam is the last exam that you will take.

• Pass marks:

   For information on pass marks for objective tests and case studies, please visit www.cimaglobal.com/results.

• More information:

   Visit the CIMA exam preparation page.

Students who have passed the Gateway Assessment will be exempt from the Certificate, Operational and Management levels and can move directly to the Strategic level. They will therefore be exempt from the Management Integrated Case Study. If students are part way through level then they will need to sit the new Objective Test for the papers yet to pass and the Management Integrated Case Study before proceeding to the Strategic Level. 

If students have passed all three Strategic papers (E3, P3 and F3) under the 2010 syllabus then they can move onto the new Strategic Integrated Case Study, however if part way through the level then they will need to sit the new Objective Test for the papers yet to be sat and the Integrated Case study for that level. Students who have completed the Professional Competence Level Paper T4 – Part B (2010 syllabus or equivalent), will be give credit in the Strategic Case Study Exam.For more details please visit: cimaglobal.com/exemptions.

In an increasingly digital world, rapid changes in technology are creating challenges for the business models of organisations. It is also making it difficult for business leaders and employees to create and preserve sustainable value. Against this digital backdrop, it is imperative that finance professionals possess relevant technical skills, a sound understanding of their organisation, as well as the ability to influence and lead people. This will make them capable of providing the insight their organisations need to craft and successfully execute their strategies.

The 2019 syllabus continues to bridge the skills gap of newly qualified finance professionals worldwide, meeting the employability needs of both business and people. In designing the syllabus, we set out to enhance the relevance of the syllabus to employers; ensure the rigour of the related examinations and align the learning experience of candidates to the real world.

The case study is designed to bring together the knowledge learnt at the objective test levels. The case study exam is tested using core syllabus areas designed to reflect the daily tasks expected of a finance professional at the relevant exam level.

The Strategic level focuses on long term strategic decision making. Candidates will be able to support organisational leaders to craft strategy; evaluate and manage risks that might prevent organisations from successfully implementing strategy; value organisations; and source financial resources required to implementation of strategy.

At the Strategic level, the role simulated is that of the senior finance manager. The Case Study Examination provides a simulated context which allows learners to demonstrate that they have acquired the required knowledge, skills, techniques and mindset for that role.

For further details please follow the examination blueprints. Link here

Please note that in order to sit the case study exam, you will need to have passed all of the objective test papers at the relevant level.  

From February 2020 the exam window will run from Wednesday to Friday in the week of the relevant level. Please follow this link for more details as well as CIMA’s entry deadlines. 

CIMA Exam Timetable

If you have sat exams that you feel may give you exemptions from the case study please check with CIMA. Full details can be found in the link below.

CIMA Exemptions