2017 Inter-Collegiate Finance Competition
The 19th ICFC “The Search for the Best College Finance Team”
CO!"TITIO# "C$%#ICS
1. Team Composition Participants should be enrolled as a regular student with at least 12 units as certified by the school registrar (or equivalent official in the absence of a registrar). Any exemption must come with a request for exemption from the ean. !he "#$# committee has the right to approve or disapprove the request made. Participants in any previous "#$# are not allowed to compete. %hould a participant be discovered that he or she has competed in previous "#$#& the school will be immediately disqualified. Eliminations 'ach team is composed of a minimum of and a maximum of participants * students. !he team composition should be based on the line+up submitted to the ,unior $"-' #ommittee. During the competition 3 participants must be on stage at the start of the first question. While the 2, if any, will serve as alternates. !he team defaults the #ompetition if it does not have all participants on stage by the time the first question is as/ed by the qui0master
Finals
%ubstitutions will be allowed during the brea/s between rounds. embers of the school teams will be the only allowed alternates.
2. Competition Rounds !he competition consists of the 'limination round and the $inal s round. !he host school shall sponsor its own welcome * opening activities.
3. Format and Time Limit
Eliminations Finals rounds9 easy4 moderate and difficult :ill consist of ; questions. 'A%< (2;) = points each >'?A!' (1) = 1; points each "$$"#7@! (1) = 2; points each 'asy questions should be answered within ; seconds. oderate questions should be answered within ; seconds. ifficult questions should be answered within 1; seconds All $uestions are in multiple choice 'ormat.
4. Materials #alculators to be used will be provided by 3ewlett+Pac/ard and the "#$# #ommittee. -o other electronic device4 including cellular phones4 shall be allowed during the competition proper. Eliminations 3ewlett+Pac/ard (3P5s)
Paper and pencils will be provided by the "#$# #ommittee
5. Contest Procedure uring the eliminations4 the same question will be as/ed simultaneously in all the contest venues. $or the eliminations4 the 6oard of ,udges will announce the question number. !he corresponding numbered envelope with the question slip will be distributed to each team. 'ach envelope and the question slip should have the same recipient school printed on their face. 'ach team will then be as/ed to chec/ whether they have their names on the envelopes and whether they have the same number in their envelopes as the question number that the qui0master has announced. 7pon signal by the 8ui0master4 the teams shall simultaneously open their envelopes . A team that opens their enelope prior to the si!nal !ien "# the $ui%master &ill "e !ien a %ero 'or the speci'ic $uestion. !o ma/e sure everyone has the right question4 the qui0master will read a portion of the question once before the teams are given the go+signal to commence answering the question.
At the end o' the time limit( and onl# upon the instruction "# the $ui%master( all teams &ill "e as)ed to hold up their Ans&er Cards( Each team should hae also &ritten the same ans&er in the ans&er slip. !he #hairman of the 6oard of ,udges or his duly appointed representative will then give the right answer to the 8ui0master by raising the correct Answer #ard. After all the cards are raised and the correct answer given by the ,udges4 the 8ui0 aster will as/ those with wrong answers to put down their cards to ma/e it easier for the auditors to mar/ and tally the scores of the !eam(s) with correct answers. *o"od# &ill "e allo&ed to raise his card ane& once it has "een put do&n. Furthermore( teams &ith the correct ans&ers could onl# put do&n their cards upon the adice o' the +oard o' ,ud!es- other&ise( the# &ill "e penali%ed &ith a %ero score 'or the speci'ic $uestion.
Additionally4 competition personnel shall collect the question slips of teams with the correct answers. !he auditors shall then verify if the answer written in the question slip is the same as the raised answer card of the team . Teams &ho 'ail to &rite their ans&er on the $uestion slip and teams &ith con'lictin! ans&ers &ill "e penali%ed &ith a %ero score 'or the speci'ic $uestion. !he question slips shall then be chec/ed and filed by the onsite Auditor and will serve as an additional audit trail in the verification of scores. #onflicting answers should be brought immediately to the attention of the 6oard of ,udges. @ate raising of Answer #ards or changing of Answer #ards beyond the time allowed for each question or shall be penali0ed with a 0ero score4 to be decided accordingly by the 6oard of ,udges. !he 6oard of ,udges has the full authority to impose penalties against any form of cheating4 i.e. signals from the audience4 non+surrender of cell phones and other electronic devices4 use of unofficial calculators4 loo/ing at another teams answer card and similar infractions. Penalties can range from a 0ero score for a particular question to outright disqualification from the competition. !he 6oard of ,udges shall be present in all sites for the purpose of arbitrating the #ompetition. Protests and queries must be filed by an# o' the team mem"ers actiel# participatin! in the round as registered with the "#$# #ommittee and brought to the attention of or addressed to the #hairman of the 6oard of ,udges of the concerned site immediately prior to the next question. !he 8ui0master shall refer all questions raised to the #hairman of the 6oard of ,udges. n case a $uer# has merit( the $uestion &ill "e completel# inalidated. The decision o' the +oard o' ,ud!es is 'inal and all participatin! teams must a"ide "# its decision . !he 6oard of ,udges has the prerogative to penali0e any unacceptable behavior of the contestants via point deductions. Teachers( coaches( school o''icials( and other team mem"ers not currentl# participatin! in the speci'ic round are all "arred 'rom raisin! $uestions.
/. Test +an) !he 'asy 6an/ of 8uestions will be composed of the topics mentioned below as well as general information on the local investment industry while the oderate and ifficult 6an/ of 8uestions are solely based on the topics outlined below. All questions are formulated and vetted by the Asian "nstitute of anagement Bov. ,ose 6. $ernande0 ,r. #enter for 6an/ing and $inance4 #$A %ociety of the Philippines4 and members of $"-'.
The Bank of Questons will cover he following
. Tools0Foundation CFA Curriculum A. 'conomics 6. 8uantitative Analysis #. 'thics . Financial Reportin! and Anal#sis FRA FR Controllership CFA Curriculum A. $inancial %tatements C 6alance %heet4 "ncome %tatement4 #ash $low %tatements 6. $inancial ?atios #. Assets and @iabilities . Mana!ement Accountin! Controllership CMA0CFA 1. $inancial Planning and Performance A. Planning4 6udgeting and $orecasting 6. Performance 'valuation 6.1 #ost and Dariance Analysis 6.2 ?esponsibility #enters and ?eporting %egments 6. Performance easures #. #ost anagement #.1 easurement #oncepts #.2 #osting %ystem #. >verhead #osts #.E >perational 'fficiency #. 6usiness Process Performance 2. $inancial ecision a/ing A. $inancial %tatement Analysis 6. #orporate $inance (#$A #urriculum) 6.1 :or/ing #apital 6.2 #apital 6udgeting 6. #ost of #apital 6.E #apital %tructure
#.
. 6.
ecision Analysis F ?is/ anagement #.1 #ost C Dolume C Profit Analysis #.2 arginal Analysis #. Pricing ecisions "nvestment ecision (#A #urriculum)
6aluation CFA Curriculum A. ebt C $ixed "ncome 6. 'quity C %ecurities ar/et #. erivatives C plain vanilla . Portfolio anagement
!he questions and the order that they shall be as/ed will be pre+determined. !he pre+ drawing will be observed by the "#$# 6oard of ,udges4 and representatives from the #$A %ociety of the Philippines Asian "nstitute of anagement and our independent auditor. 3owever 4 because of the randomness in the question selection procedure4 the questions drawn may not necessarily reflect the distribution of the 6an/ of 8uestions.
7.
7uali'ication 'or the Final Round
!he ?egistered competing schools are divided into the following groups4 namely -#?14 -#?24 -#?4 -#?E4 @u0on 14 @u0on 24 Disayas 14 Disayas 24 indanao1 and indanao 2 *CR1 *CR2 *CR3 *CR4 L89:* 1 *orthern Lu%on; locos *orte0ur( CAR( +a!uio( Tu!ue!arao( sa"ela( and Pan!asinan L89:* 2 Central Lu%on; Tarlac( 9am"ales( Pampan!a( *uea Eci
estern 6isa#as- Anti$ue( A)lan( Capi%( loilo( *e!ros :ccidental 6A=A 2 Eastern0Central 6isa#as- *e!ros :riental( Ce"u( +ohol( amar( Le#te M*?A*A: 1 *orthen Mindanao- ?aao( Cota"ato( A!usan M*A?A*A: 2 outhern Mindanao- Ca!a#an de :ro( +u)idnon( li!an
!he top scoring school in each group after the 'limination ?ound shall automatically qualify in the $inals. !he 6oard of ,udges shall determine how many schools are required to fill the remaining cast to complete a roster of twenty (2;) finalists. !he remaining schools shall then be ran/ed nationally based on their scores. !he top+ scoring schools shall then qualify until the roster of twenty finalists is complete. "n case that after the 'limination round4 there are teams that tied for the top spot in their group4 these teams shall be subGected to a Broup %udden eath using difficult questions4 exclusive to their group. !he top team at the end of the %udden eath shall be declared as the winner of the group and will gain an automatic $inals slot. !he remaining teams shall then be ran/ed nationally4 similar to other teams. "n case of a tie for the 2;th $inals slot at the end of the 'limination round4 such tie shall be bro/en under a -ational %udden eath 'limination format. -ational %udden eath 'limination is performed after all Broup %udden eaths are resolved. %cores shall be tabulated throughout the #ompetition in each regional site by a computer and score+/eeping panel composed of auditors from independent auditing firms. ?egional scores will be fed centrally to the -#? site4 where they will be tallied by the 6oard of ,udges and audited by independent auditor. ?econciliation will be done after each round. 8uestions on the score tally for a particular round should be raised before the start of the next round. ?esults at the end of the 'limination ?ound will be submitted to the 6oard of ,udges. !he #hairman of the 6oard of ,udges will announce the teams that will advance to the $inals.
@. A&ards and Reco!nition !here will be medals for each member of the #hampion !eam plus a !eam !rophy. !he 1st ?unner+up and 2 nd ?unner+up !eams will be given !eam !rophies. Plaques of Appreciation will be given to all participating schools. !he "#$# ?oving !rophy will be /ept by the #hampion !eam for one (1) year. !he !eam*%chool that becomes #hampion for three () times4 will be entitled to a replica of the ?oving !rophy.
!he #hampion !eam will receive pri0e money of Php 1;;4;;;.;;4 1 st ?unner+up team will receive pri0e money of Php H;4;;;.;; and 2 nd ?unner+up team will receive pri0e money of Php E;4;;;.;;.
