Join me as I prepare for the Financial Modeling Institute's Advanced Financial Modeler (AFM) exam which next takes place on 22nd February 2025 - Just two weeks away!
Preparing for the February 2025 AFM exam
I will be sitting the FMI Advanced Financial Modeler exam on Saturday the 22nd February 2025, which is now just two weeks away. In this series, I share my thoughts and learnings as I prepare for the exam.
You can catch up on my previous posts in our blog area.
What have I covered this week?
This week was a little tricky for revision as I was at the Global Excel Summit in London. My revision was therefore limited to four hours spread over Friday and Saturday.
I worked through the LNC Manufacturing case, logging my time at the end of each key build block:
Block 1: (1 hour) Read case, build core structure, revenue, CoS and balance sheet reconciling
Block 2: (45 mins) Depreciation, working capital, equity and dividends
Block 3: (30 mins) Debt, interest and tax
Block 4: (20 mins) Scenarios and tidy up
Block 5: (remainder) Final review
The first block felt like a real grind, the concepts are simple, but there is lots to get through in the first hour.
Given that we have four hours for the exam my timings feel pretty comfortable. I should have a reasonable amount of time to review at the end and some leeway should my brain decide not to work properly on the day.
Exam set up
The other key thing that I did in preparation for the AFM exam was to run through the proctoring setup. I recommend running through this as soon as you have the email link. FMI make the whole process very easy, with a clear process and instructions.
A few key points that I am pleased to have cleared up in advance:
The proctoring software requires Google Crome. I use Firefox so needed to download Crome and will need to remember to use Crome on the day.
I use my laptop and one large monitor. You are only allowed one monitor - this is easily changed in monitor settings (only show monitor 2).
My microphone did not work initially - I had to go into my microphone privacy settings to allow the proctoring software to access it.
The auto pick-up of my ID didn't work however much I waved it around in front of the screen. Eventually, I used the manual link - which just took a picture of the ID - super simple. On the day I will be clicking on that straight away.
And finally - I think I might have to tidy my office a little before the exam as they require a full scan of the room. All of the mess hidden just out of view of my webcam is going to have to go!
Case Study Practice
For the final two weeks I'll be working through the remaining case studies provided.
How we support FMI students at Full Stack
Full Stack Modeller is an accredited training provider for the Financial Modeling Institute.
Our core training program covers all the Excel and financial modelling skills that you need to succeed in the FMI exams.
Our FMI AFM exam Bootcamp, led by Giles Males, MVP and MFM has been designed specifically to support candidates taking the FMI AFM exam.
Our FMI AFM "micro-automation" toolkit collection has been approved by FMI for use in the exam.
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Giles Male, our co-founder and CEO, has achieved the prestigious, highest level of accreditation from the FMI - The Master Financial Modeler (MFM).
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What is the Financial Modeling Institute?
The Financial Modeling Institute (FMI) was founded in 2017 with the goal of “Promoting awareness, excellence and discipline in Financial Modeling through world-class accreditation programs”.
The Financial Modeling Institute (FMI) focuses on assessment, leaving the delivery of training to independent and proven partners like us at Full Stack Modeller.
What are the FMI certification levels?
The Financial Modeling Institute (FMI) has three certification levels. These are: Advanced Financial Modeler (AFM); Chartered Financial Modeler (CFM); and Master Financial Modeler (MFM).
