CCM Equity Securities study plan

Map the end-to-end trade lifecycle - execution, allocation, confirmation, affirmation, clearing, novation, netting, settlement - and name the party and system responsible at each step.

Distinguish centrally cleared novation from bilateral clearing, and explain how each allocates counterparty risk and settlement risk between the parties.

Compute gross versus multilateral-netted settlement obligations for a five-trade day and quantify the funding released by netting.

Value a share with a two-stage dividend discount model and state which single assumption drives most of the output.

Calculate initial margin, variation margin and the resulting cash call for a long equity portfolio after a 12% adverse price move.

Build a WACC from a given capital structure, equity beta, risk-free rate, equity risk premium and after-tax cost of debt.

Derive FCFF from EBITDA, then reconcile it to FCFE, justifying each adjustment for tax, capex, working capital and net borrowing.

Explain how a settlement fail arises and describe the buy-in and securities-borrowing remedies available to the receiving party.

Compute P/E, PEG, P/B, P/S, EV/EBITDA and EV/Sales for three comparable companies and defend the single most appropriate multiple for the sector.

Build the enterprise value bridge from market capitalisation through net debt, non-controlling interests, preferred stock and pension deficit.

Decompose ROE into DuPont components and identify which lever explains the gap between two peers.

Calculate theoretical ex-rights price, the value of one right and the dilution effect of a rights issue at a given subscription price.

Sequence an IPO from mandate to stabilisation, naming the document or filing produced at each stage.

Differentiate firm-commitment, best-efforts and standby underwriting, and identify who bears unsold-share risk in each structure.

Model a 15% greenshoe: compute over-allotment size and show the stabilising position versus naked short it creates.

Contrast ordinary shares, cumulative and non-cumulative preference shares, convertibles, warrants and depositary receipts by claim, voting rights and payoff profile.

Compare cap-weighted, price-weighted, equal-weighted and float-adjusted indices, then calculate the divisor change needed after a constituent substitution.

Map buy-side, sell-side, market makers, alternative and dark venues, custodians, central securities depositories and regulators to their function and the risk each carries.

Classify order types by execution condition and explain how limit, iceberg and stop orders behave on a lit venue versus a dark pool.

Match insider dealing, unlawful disclosure and market manipulation to concrete trading scenarios that would breach each prohibition.

Describe how a restricted list, a wall-crossing and a personal-account pre-clearance process interlock inside a firm.

Explain best-execution obligations and list the factors a firm must weigh when routing a client equity order across venues.

Outline client-asset segregation and reconciliation duties and state precisely what fails when client money is commingled.

Describe disclosure obligations for substantial shareholdings, net short positions and takeover thresholds under at least two regimes.

Apply a structured ethics framework to a conflicted allocation of an oversubscribed IPO.

Explain the clearing obligation and trade-reporting duties triggered by an equity derivative transaction.

Re-attempt every previously missed question and rewrite the correct reasoning for each in your own words.

Recompute from memory every formula on your sheet, including WACC, FCFF, TERP, diluted EPS and the EV bridge.

Rebuild the settlement and corporate-action timeline from memory and reconcile it against your week 1 notes.

Sit one full-length timed mock under exam conditions and record a score for each of the five domains.

Sit two further full-length timed mocks, targeting 75% overall with no domain below 65%.

Drill the two weakest domains with 40 targeted questions each and re-explain every missed item aloud.

Recite the settlement-cycle, disclosure-threshold and margin definitions from memory in under ten minutes.

Final-review the formula sheet and compliance checklist, confirming no unresolved flagged items remain.