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ICAN CAP-II · old syllabus

Every past question, by chapter, with answers you can actually follow.

CAP-II papers sorted by chapter and by how often each kind of question comes back. Each answer shows every step, the tables you should draw, and the places students lose marks.

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Time graph
Mr. B's cash receipts per share, discounted at 13%
0 1 2 3 Year 15.26 16.63 378.13 Net cash flow of each year: received ↑, paid ↓ ← every amount is brought back to Year 0 at 13%
YearCash flowAmountDiscount factorPresent value
1Dividend D115.260.88513.51
2Dividend D216.630.78313.02
3Dividend D318.130.69312.56
3Sale of share (P3)3600.693249.48
Value of share today (P0)288.57
What is inside

Six things that make revision faster

Every sample below is a real page from the June 2026 paper, which is free to read.

01Chapterwise

Every question, grouped the way you revise

Exam and RTP questions from every session, sorted into chapters and then into the kinds of question ICAN keeps setting. Financial Management alone has 230 question parts from 10 sessions.

  • How many of the last 10 sessions asked the same thing
  • Tier S, A and B: what to learn first when time is short
  • Mark questions done as you go
Chapter page · Financial Management
Financial Management · question groups
  • NPV of a project with relevant cash flowsTier Sasked in 10 of 10 sessions
  • CAPM, beta and the security market lineTier Sasked in 8 of 10 sessions
  • Capital structure theories and value of the firmTier Aasked in 7 of 10 sessions
  • Risk concepts (theory)Tier Basked in 5 of 10 sessions
02Worked answers

Every step written out, nothing skipped

Answers are written to be followed, not just checked. Each figure comes from a step you can redo with a calculator, and the reason for the step sits under it.

  • Working set out in tables, the way you should draw it in the exam
  • Time graphs for NPV, annuities and share valuation
  • Terms explained in plain words where they first appear
Worked answer · June 2026, Q4(a)(i)
Working
Working 1: Expected dividends (growth 9% a year)
  1. Dividend just declared (D0)
    given=Rs 14.00

    This dividend belongs to the present owner. Mr. B does not receive it, so it is only the base for growth.

  2. Year 1 dividend (D1)
    =Rs 15.26

    The new growth rate of 9% applies from the first year.

03Common mistakes

Where students lose marks, and the wrong figure it gives

Each answer points out the traps in that question: the wrong year, the sunk cost, the forgotten tax shield. It shows the figure you would get, so you can spot it in your own work.

  • Notes on how the marks are likely split
  • What to write first when you are short of time
Common mistake · same question
04AI tutor · with the AI pass

Ask about any step

Stuck on a line? Ask in your own words. The tutor answers only from that question and its worked answer, and shows which step it used.

  • Check my answer: type your figures and see what matches
  • Smart search: find a question from a rough description
AI tutor · asked about Working 1

Why don't we count the Rs 14 dividend?

Rs 14 is D0: it was declared before Mr. B buys, so it goes to the present owner. It is only the base for growth: D1 = .

05Mock exams · with the AI pass

Sit a paper, upload photos, get it marked

Take a full paper or a chapter test against the clock. Write on paper as in the exam, photograph each page, and get marks point by point with feedback.

  • Marked against the points a marker looks for
  • Your weak points on the dashboard, each with a question to fix it
Mock exam result · marks split
Marks split
5 marks
  1. 1.5/1.5Expected dividends D1, D2, D3 at 9% growth (15.26, 16.63, 18.13)✓ Full marks
  2. 1/1Valuation formula: PV of three dividends plus PV of sale price at Ke = 13%✓ Full marks
  3. 0.75/1.5Correct discount factors and present values, with Rs 360 discounted at Year 3½ Partly
  4. 1/1Total value Rs 288.56 and statement that it is the maximum price to pay✓ Full marks
Our estimate of how a marker would divide the marks. ICAN does not publish a marking scheme.
06Progress dashboard · with the AI pass

See how much you study, and what is left

One page for your revision: hours studied each day, where your marked mocks show you losing marks and why, and a plan for today built on those weak points.

  • Study time for the last 7 days, 30 days or since you joined
  • Where you're losing marks: what went wrong in your mocks, and the question that fixes it
  • A daily plan made for you each morning, which you can change
Dashboard · study time
  • Tue
  • Wed
  • Thu
  • Fri
  • Sat
  • Sun
  • Today
This week
16.5 h
Week before
13.2 h
Change
25%

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  • June 2026 paper with full answers
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  • Answers to every question, all seven papers as they are released
  • Chapters ranked by how often they are asked
  • Bookmarks and notes
  • Mark questions done; see how many are done in each chapter
  • Use on one phone and one computer
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