STANDARD OF PAPER The standard and quality of the paper was generally normal consistent with requirement and expectation. The distribution of the questions across the syllabus was satisfactory with a balanced distribution between the quantitative and qualitative or essay part of the syllabus with quantitative questions taking 57% and qualitative taking the remaining 43%.The questions appeared easy to understand and apply based on the standard expected of students at that level with no any major ambiguous questions in the paper. It was also generally observed that no sub-standard questions were set and quality of questions considered good for that level. Mark allocations generally appeared fair and satisfactory relative to the nature of questions depending on the level of difficulty and extent of work expected of students. The marking scheme was realigned in line with the questions on the question paper and alternative solutions provided where necessary to accommodate varying approaches to answering the questions.

PERFORMANCE OF CANDIDATES The performance of the students was one of the worst in recent times with an average pass rate of about 7% far lower than the remarkable improved performance in recent times averaging over 25%. This requires vigorous and better preparation by the students in generally and specifically on essay type questions and application questions. With essay type questions taking 43% of the marks and a better preparation on that side together with the quantitative side would have produced much better performance the exams. The possible reasons for the poor performance were as follows:  Generally poor preparations by students for this sitting.  Poor preparation on the basic theoretical concepts in Finance and poor time and attention given to studying and understanding the essay area or non-quantitative aspect of the course content.  Complacency on the part of students possibly due to the recent improved performance in the paper.  Poor knowledge in answering applied questions.  Student’s concentration on direct questions answering