Stage 2 (2022)
Originally published: 18/03/2022 09:14
Publication number: ELQ-62642-1
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Stage 2 (2022) "Client's Model"

This is a real-life example of an FMWC stage case.

Financial Modeling World Cup is an annual competition dedicated to financial modeling with a view of promoting healthy competition and education. FMWC challenges participants through a range of different types of questions. To answer everything correctly and win prizes, it takes a wide spectrum of skills and knowledge related to financial modeling. The competition is structured in a way that each participant accumulates points during the season by participating in as many Stages as they desire. At the end of the season (December), the overall winners are announced and the prize fund is distributed. Additional monthly prize money is distributed to the best performing participants of each stage.

Client's Model is an actual case from the Financial Modeling World Cup 2022, Stage 2 (March 11-14) competition. This case contains a simple model taken over from a client, which has several errors (a total of 4 errors). You have to find and correct these errors. Although all questions are connected regarding the storyline, you can choose to complete each one separately, as they are not related in terms of calculations. If you're experienced in auditing other people’s models, this case should not be too difficult for you.

The downloadable file consists of the following:
-Task: PDF file with Case Materials; PDF file with Questions; Excel file with the initial model
-Solution: Excel file with full Solution Model; PDF file with correct Answers in Bold

This model awarded 200 regular points, while the whole 2h Stage allowed to earn 1,150 points in total.

You can also buy tickets to participate in the future FMWC Stages at

This Best Practice includes
3 files to start the Task; 2 files for Solution and Answers

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Further information

To provide training opportunities for financial modelers.

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