Chartered Investment Banking Analyst – Level 2 Examination
The CIBA Level 2 Exam is an online, closed-book exam designed to evaluate advanced knowledge in investment banking and corporate finance.
Prerequisite: Candidates must have completed the CIBA Level 1 Exam and the before attempting Level 2.
The exam consists of 60 multiple-choice questions covering advanced topics in Financial Accounting, Credit and Credit Risk Analysis, Corporate Finance & Valuation Methods, Financial Modeling, and Mergers & Acquisitions.
Passing this exam demonstrates advanced expertise in financial modeling, valuation, and M&A/LBO strategies, and awards candidates the prestigious Chartered Investment Banking Analyst (CIBA™) designation from the New York Institute of Finance (NYIF).
Exam Specifications:
-
Number of Questions: 60
-
Duration: 180 minutes
-
Attempts Allowed: 1
-
Passing Marks: 70%
Course 1: Reporting Use of Firm Resources and Taxation (7-hrs)
- Module 1: Inventory
- Module 2: Long-Lived Assets and Depreciation
Course 2: Reporting Liabilities, Owners’ Capital and Cashflow (6-hrs)
- Module 1: Liabilities and Interest
- Module 2: Equity
- Module 3: Financial Statement Analysis
- Module 4: Free Cash Flow
Course 3: Reporting Investments, Pensions, and Financial Statement Analysis (7-hrs)
- Module 1: Accounting for Investments
- Module 2: Pension Accounting, Stock Options
- Module 3: Taxes and Depreciation
- Module 4: Deferred Taxes
Course 4: Ratios and Credit Statistics (7-hrs)
- Module 1: Financial Ratios, Metrics, and Analysis
- Module 2: Off-Balance-Sheet Risks
- Module 3: Organization Structures
- Module 4: Management
- Module 5: Recap
Course 5: Cash Flow and Historical Analysis (6.5-hrs)
- Module 1: Cash Flow Analysis
- Module 2: Project Finance
- Module 3: Financial Hedges
- Module 4: Case Studies
Course 6: Risk Assessment and Forecasting (5.5-hrs)
- Module 1: Financial Warning Signs
- Module 2: Forecasting and Projections
- Module 3: Capital Structure
- Module 4: Debt Capacity
Course 7: Cost of Capital (8-hrs)
- Module 1: Factors Influencing the Cost of Capital
- Module 2: Cost of Debt Capital
- Module 3: Cost of Convertible Debt
- Module 4: Cost of Equity
- Module 5: Implications of Cost for Corporates
Course 8: Discounted Cash Flow & Other Valuation Methodologies (7-hrs)
- Module 1: Overview of DCF Methodologies
- Module 2: Elements of Cash Flow Projections
- Module 3: Discounted Cash Flow Analyses
- Module 4: Alternate Valuation Methodologies
- Module 5: Relative Valuation Techniques
Course 9: Free Cash Flow Modeling (8-hrs)
- Module 1: Introduction to Free Cash Flow
- Module 2: Components of Free Cash Flow
- Module 3: Cost of Capital
- Module 4: Capital Budgeting Using FCF
- Module 5: Modified Free Cash Flow
- Module 6: Evaluating Acquisition Opportunities
Course 10: Structuring the Deal (8-hrs)
- Module 1: Integration of Acquisitions
- Module 2: Implementation Issues
- Module 3: Legal Structures
- Module 4: Triangular Mergers
- Module 5: Tax Considerations
- Module 6: Tax-Free Deals
- Module 7: Accounting Notes
- Module 8: Consideration
- Module 9: Advanced Structuring