Paper 2 Group 1
CA Final Advanced Financial Management: Most Repeated Questions & Important Topics
Ranked by how often each topic was actually asked in ICAI exams, MTPs and RTPs — computed from real papers, not predicted.
Built from 630 real questions across 34 CA Final Advanced Financial Management attempts (2015–2026). Every topic below links to the exact past papers it appeared in, so you can read the actual questions. The top 10 topics cover about 48% of everything asked.
30
Topics ranked
630
Questions analysed
34
Attempts (2015–26)
1
Valuation
49×
asked
2015–2026 11 hard 37 medium
Tested provisions: Customs Act, 1962Foreign Contribution (Regulation) Act, 2010Ind ASInd AS 113Rule 32(2)(a) of the CGST Rules, 2017Rule 7 (Deductive Value) of the Customs (Determination of Value of Imported Goods) Rules, 2007Section 15 of the CGST Act, 2017Section 2(6) of the IGST Act, 2017
2
Portfolio Management
46×
asked
2015–2026 10 hard 34 medium
3
International Finance
34×
asked
2015–2026 11 hard 23 medium
4
Derivatives
31×
asked
2015–2026 5 hard 26 medium
5
Mergers And Acquisitions
29×
asked
2015–2025 8 hard 19 medium
6
Risk Management
26×
asked
2015–2026 6 hard 19 medium
7
Mutual Funds
24×
asked
2015–2026 24 medium
8
Investment Analysis
24×
asked
2018–2026 3 hard 20 medium
9
Capital Budgeting
21×
asked
2015–2026 7 hard 14 medium
10
11
Foreign Exchange Risk Management
15×
asked
2015–2025 1 hard 14 medium
12
Securitization
15×
asked
2018–2026 14 medium
13
Investment Decisions
14×
asked
2015–2025 2 hard 11 medium
14
Bond Valuation
14×
asked
2016–2025 1 hard 13 medium
15
Hedging
11×
asked
2015–2025 2 hard 9 medium
Tested provisions: Foreign Contribution (Regulation) Act, 2010
16
Direct Taxation
9×
asked
2021–2021 2 hard 7 medium
Tested provisions: Chapter XII-ACompanies Act, 2013DTAA (Double Taxation Avoidance Agreement)ICDS XIncome Tax ActIncome Tax Act, 1961Income-tax Act, 1961Ind AS 16
Appeared in: Dec 2021
17
18
Dividend Discount Model
9×
asked
2018–2024 9 medium
19
20
Options
8×
asked
2018–2024 1 hard 7 medium
21
Share Valuation
7×
asked
2015–2026 7 medium
22
Technical Analysis
7×
asked
2015–2026 7 medium
23
Security Valuation
7×
asked
2015–2025 7 medium
24
Corporate Finance
7×
asked
2015–2026 7 medium
25
Financial Management
6×
asked
2015–2023 5 medium
26
Dividend Policy
6×
asked
2017–2024 6 medium
27
Risk And Return
6×
asked
2015–2025 6 medium
28
Financial Instruments
5×
asked
2019–2025 4 medium
Tested provisions: Ind ASInd AS 1Ind AS 10Ind AS 101Ind AS 102Ind AS 108Ind AS 109Ind AS 11
29
Financial Statement Analysis
5×
asked
2015–2026 1 hard 4 medium
Tested provisions: Companies Act, 2013Reserve Bank of India Act, 1997
30
Strategic Financial Management
5×
asked
2015–2025 5 medium