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CIMA MCS past questions

CIMA MCS past questions: Investment appraisal and real options

Every sub-task on investment appraisal and real options set in the Management Case Study pre-seens we cover, summarised in our own words.

Sub-tasks
8
Sittings
3 of 3
Exam variants
7 of 18
Last set
May & Aug 2026

Mostly filed under core activity A (Evaluate opportunities to add value). Syllabus: P2 B, capital investment decision making. These are patterns from past exams, not a forecast: CIMA can test any part of the syllabus.

May & Aug 2026 · Cartn

Every task set for Cartn

Packaging · CIMA's post-exam materials

  • V2 · Task 3(a)Core activity A: Adding value

    Difficulties forecasting cash flows for developing and making a new material.

  • V2 · Task 3(b)Core activity B: Implementing decisions

    Real options the board should weigh when evaluating the investment.

  • V5 · Task 1(b)Core activity B: Implementing decisions

    Challenges in judging whether investing in recycling centres has a positive NPV.

Nov 2025 & Feb 2026 · Ressett

Every task set for Ressett

Refurbished computers · CIMA's post-exam materials

  • V3 · Task 1(a)Core activity A: Adding value

    Difficulties forecasting cash flows for the NPV of a marketing proposal.

  • V4 · Task 2(a)Core activity B: Implementing decisions

    Real options to manage risk in a new manufacturing investment.

  • V6 · Task 2(a)Core activity A: Adding value

    Difficulties forecasting cash flows from a new product line alongside the existing range.

May & Aug 2025 · Trimayr

Every task set for Trimayr

Hair salons · CIMA's post-exam materials

  • V1 · Task 2(b)Core activity A: Adding value

    Difficulties forecasting cash flows for the NPV of a recruitment campaign.

  • V6 · Task 1(a)Core activity A: Adding value

    Difficulties forecasting cash flows for the NPV of an acquisition.

How we'd mark one

The past task

Real options in an investment decision

MCS · May & Aug 2026 · Cartn · V2 · Task 3(b) · Core activity B (Implementing decisions)

Real options the board should weigh when evaluating the investment.

Practise it in Eighty Marks

Lakeside spa: the case for the investment · Investment appraisal · set in Wuudbreak

Try a free MCS task

Illustrative example

77 / 150

PASS LINE 80 · BELOW

  • Technical understandingGood: options to delay, expand and abandon
  • Use of the informationNeeds work: not linked to the new product
  • Application to the scenarioFair: board's view considered
  • CommunicationFair: recommendation given

Fix first: Tie each real option to a decision the board actually faces on this product, with the point at which it would act.

Sample: an invented mark to show the shape of our feedback, not a real student's. Our marks follow CIMA's published 2026–27 marking approach. They are a practice estimate to help you improve, not an official CIMA mark or a prediction of your result.

Practise investment appraisal and real options in your own pre-seen

Timed MCS tasks set in Wuudbreak, the current pre-seen, marked in about a minute. Try one task free, no card needed.

Try a task freeWuudbreak pre-seen