CA Inter FM and SM RTP — All Attempts PDF
CA Intermediate · Group II · Paper 6 · Free ICAI Resource
Download the official ICAI Revision Test Paper for CA Intermediate Financial Management and Strategic Management for every attempt from May 2024 to September 2026. All PDFs are free and include ICAI's suggested answers with full workings for the Financial Management section.
Last updated: August 2026 · Links verified against the ICAI BOS portal
What is the CA Inter FM and SM RTP? The Revision Test Paper is an official document published by the Institute of Chartered Accountants of India before every CA Intermediate attempt. For Paper 6 it covers two very different sections in one document — numerical questions on Financial Management and fully theoretical questions on Strategic Management — each with detailed suggested answers.
| Paper | CA Intermediate Group II, Paper 6 — Financial Management and Strategic Management (ICAI New Scheme of Education and Training) |
|---|---|
| Total marks | 100 marks |
| Duration | 3 hours |
| Section A — Financial Management | 50 marks, predominantly numerical |
| Section B — Strategic Management | 50 marks, fully theoretical |
| Question format | Approximately 30% case scenario based objective questions and 70% descriptive |
| Published by | Board of Studies, ICAI |
| Release timing | Approximately two months before each examination |
| Cost | Free — no registration or payment required |
| Old Scheme equivalent | None. This paper was newly constituted under the New Scheme. |
Where can I download the CA Inter FM and SM RTP?
All Revision Test Papers for CA Intermediate Financial Management and Strategic Management are listed below, newest attempt first. Each link opens the official ICAI PDF for Group II, Paper 6 under the New Scheme of Education and Training.
| Attempt | Download |
|---|---|
| September 2026 | CA Inter FM and SM RTP — September 2026 Attempt (PDF) |
| May 2026 | CA Inter FM and SM RTP — May 2026 Attempt (PDF) |
| January 2026 | CA Inter FM and SM RTP — January 2026 Attempt (PDF) |
| September 2025 | CA Inter FM and SM RTP — September 2025 Attempt (PDF) |
| May 2025 | CA Inter FM and SM RTP — May 2025 Attempt (PDF) |
| January 2025 | CA Inter FM and SM RTP — January 2025 Attempt (PDF) |
| September 2024 | CA Inter FM and SM RTP — September 2024 Attempt (PDF) |
| May 2024 | CA Inter FM and SM RTP — May 2024 Attempt (PDF) |
Which topics does the Paper 6 RTP cover?
Paper 6 is split into two equally weighted sections of 50 marks each. Section A covers Financial Management and is largely numerical. Section B covers Strategic Management and is fully theoretical. Every Revision Test Paper draws questions from both.
Section A — Financial Management (50 marks)
- Scope and Objectives of Financial Management
- Types of Financing
- Financial Analysis and Planning — ratio analysis
- Cost of Capital
- Financing Decisions — Capital Structure
- Financing Decisions — Leverages — operating, financial and combined
- Investment Decisions — capital budgeting, NPV, IRR, payback
- Dividend Decision
- Management of Working Capital — inventory, receivables, cash and payables
Section B — Strategic Management (50 marks)
- Introduction to Strategic Management
- Strategic Analysis: External Environment — PESTLE and Porter's Five Forces
- Strategic Analysis: Internal Environment — value chain and core competencies
- Strategic Choices — corporate, business and functional level strategy
- Strategy Implementation and Evaluation
How should I use the RTP for a two-section paper?
Treat Section A and Section B as two separate papers. Financial Management rewards computation speed and correct workings; Strategic Management rewards point-wise theory writing and framework recall. Solving them in one continuous sitting trains neither skill properly.
1. Do not treat Strategic Management as the easy half
Strategic Management carries the same 50 marks as Financial Management but is routinely under-prepared because it contains no numericals. Students who leave it to the final week lose marks on a section that is entirely recall-based and therefore highly scoreable.
2. Show full workings in Financial Management
Marks in Section A are distributed across the formula applied, the intermediate workings and the final figure. A correct NPV or cost of capital with no visible computation loses marks that the Revision Test Paper would have exposed.
3. Write Strategic Management answers in points with framework names
Naming the applicable framework — Porter's Five Forces, PESTLE, the value chain — and then applying it in numbered points scores higher than an unstructured paragraph containing the same ideas.
4. Time each section to 90 minutes
The paper is three hours for two 50-mark sections. Practising each section against a 90-minute clock is the simplest way to avoid the common failure of running out of time in Section B.
5. Pair the RTP with an MTP and past papers
Each ICAI resource serves a distinct purpose in the final month before an attempt:
| Resource | Released | Best used for |
|---|---|---|
| RTP | ~2 months before the attempt | Topic-wise practice across both sections and identifying examination-relevant areas |
| MTP | ~3–4 weeks before the attempt | Full-paper practice in exact exam format and 3-hour duration |
| Past Papers | After each attempt concludes | Gauging real difficulty and which topics carry recurring weightage |
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View CA Inter FM & SM ClassesFrequently Asked Questions
What is the RTP in CA Inter?
The RTP, or Revision Test Paper, is an official practice document published free by the Board of Studies at ICAI before every CA Intermediate attempt. It contains chapter-wise questions with detailed suggested answers and indicates which areas of the syllabus ICAI considers examination-relevant for that attempt.
What is the marks split in CA Inter Paper 6?
Paper 6 carries 100 marks over three hours. Section A, covering Financial Management, carries 50 marks and is largely numerical. Section B, covering Strategic Management, carries 50 marks and is fully theoretical.
Why are there no Old Scheme RTPs for CA Inter FM and SM?
Paper 6 was newly constituted under the New Scheme. Under the Old Scheme, Financial Management was part of Paper 8 alongside Economics for Finance, and Strategic Management was part of Paper 7 alongside Enterprise Information Systems.
No single Old Scheme Revision Test Paper corresponds to the current Paper 6, so the available RTPs begin with the May 2024 attempt.
Is the CA Inter FM and SM RTP free to download?
Yes. Every ICAI Revision Test Paper is free and requires no registration or payment. The links on this page open the official PDFs directly.
Is solving the RTP enough to pass CA Inter FM and SM?
No. The Revision Test Paper is a revision and diagnostic tool rather than a substitute for the ICAI Study Material or structured classes. It assumes the syllabus is already complete.
With only eight attempts available for this paper, the question bank is smaller than for older papers, which makes each Revision Test Paper more valuable.
Which section should I prepare first, FM or SM?
Financial Management needs more time because numerical skill builds slowly through practice. Strategic Management is recall-based and can be consolidated closer to the attempt.
Both carry 50 marks, so neither should be left unprepared. The common mistake is treating Strategic Management as optional because it contains no numericals.
When does ICAI release the RTP for each CA Inter attempt?
ICAI typically publishes the Revision Test Paper on its Board of Studies portal roughly two months before the examination begins. CA Intermediate is held three times a year, in January, May and September.
Zeroinfy updates this page with the direct PDF link for each new attempt as soon as ICAI releases it.