Business and financial information
Connect organisation, governance, accounting and statement analysis, separating cash flow from profit.
HKSI LE Practical paper
HKSI Paper 11Corporate Finance
Turn financial information into a financing or valuation decision. Explain assumptions, match funding to business needs and consider the implications of the transaction.
- Multiple-choice questions
- 40 questions
- Exam time
- 90 minutes
- Passing mark
- 70%
WHAT TO STUDY
What Paper 11 tests
Checked 5 October 2026: the official guide is v3.2 and its public syllabus is effective from 1 February 2024. The examination format is 40 questions in 90 minutes.
Check the official syllabusInvestment and capital costs
Link time value, risk, capital structure and appraisal, checking how assumptions change results.
Equity financing
Compare shares, hybrids, listings, rights issues and venture capital against control and funding needs.
Debt financing
Compare loans, bonds, convertibles and securitisation through repayment, security, maturity and interest arrangements.
Valuation and acquisitions
Connect valuation techniques and industry context with takeover choices and directors’ responsibilities.
FROM RULE TO ANSWER
Make each mistake useful
Answer a focused set, read why an option is right, and return to the rule behind your mistake.
310original practice questions in this paper
Understand the reasoning
Use explanations to compare the rule, its exceptions and the incorrect options.
Review the questions you need
Return to wrong answers and bookmarks, then test yourself under the paper’s time limit.
These are independently written practice questions, not official past papers or recalled exam questions. Counts reflect the published bank checked on 5 October 2026 and may change with content updates.
A PRACTICAL ROUTE
Build a revision routine
- Read the three main financial statements and connect profit, cash flow and balance-sheet changes.
- For the 310 questions, write the formula, values, units and assumptions before reading the commercial explanation.
- Practise 40 questions in 90 minutes and revise formula errors separately from assumption errors.
YOUR PAPER, YOUR APP
10minquiz HKSI 2+5+11
HKSI 2＋5＋11Papers 2, 5, 11 in one app. Select Paper 11 from the top-left paper selector.
Start with free practice. The 90-day Pro option opens the full question bank and additional revision tools; check the store purchase screen for the current price and terms.
BEFORE YOU BEGIN
Paper 11 questions, answered
Is Paper 11 also a 60-minute paper?
Paper 11 has 40 questions in 90 minutes, unlike the 40-question, 60-minute format of Papers 2 and 5. Use Paper 11’s own timer when practising.
Should I simply memorise financial formulas?
Understand the cash flow, timing and risk each formula represents. Check units, signs and plausibility after calculating, and state your assumptions.
Does the app contain a complete Paper 11 reading course?
Paper 11 currently provides original questions, explanations and mocks, without a separate reading course. Use the official eStudy Guide for comprehensive theory.
How can I study Papers 11 and 5 together?
Use Paper 11 for the financial rationale and Paper 5 for transaction regulation and procedures. Separate app records help distinguish financial errors from regulatory errors.
Official sources and support
Checked on 5 October 2026. Exam rules, syllabus versions, fees, dates and licensing requirements may change; confirm the documents that apply to your exam date.
- HKSI Institute: Paper 11 syllabus
- HKSI Institute: Licensing Examination overview
- SFC: licensing and registration requirements
HKSIPapers is an independent preparation resource. It is not affiliated with or endorsed by HKSI Institute or the SFC.
