While preparing for CMA Part 2, I realised something.
Most of the time, I knew the formulas.
NPV, IRR, WACC, risk terms - all familiar.
Still, in exam-style questions, I kept second-guessing myself:
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which cash flows are relevant
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when NPV vs IRR conflicts
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how much to write in ERM essays
What helped me was writing very simple personal notes focused on decision logic and examiner expectations, not memorisation.
I'm embedding those notes here in case they help someone who feels the same during revision.
👉Click Personal notes (Quick clarity)
Happy to hear how others are approaching Capital Budgeting and ERM for Part 2.
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Tushar Sahu
Student
Kumhari CT
India
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