Modeloff is a global financial modeling competition that requires contestants to use Excel to solve financial questions and case studies. Though it is referred to as a “financial modeling” competition, it doesn’t require participants to build a complete valuation model of a business; it mostly focuses on independent questions that require mini exercises in Excel. By comparison, the CFI Financial Modeling Competition requires competitors to build a full 3-statement and DCF model in Excel from scratch using a case study.
How to register for Modeloff?
To register for Modeloff simply visit their website and follow the instructions on the screen.
There are over 50 functions in Excel listed under the “financial” category. If you really want to win the competition, you should probably memorize all 50 of those functions and know how and when to use them.
If you want to get started with the top 10 most important functions, check out CFI’s guide to Excel for finance.
Since the Modeloff competition requires a combination of Excel AND finance/accounting skills, it’s important to make sure you know your stuff.
In order to have strong technical skills, the focus when preparing should be on formulas and calculations – which typically relate to the time value of money, equities, fixed-income, and accounting schedules.
To be well prepared for these, the easiest way is to learn from experts in our video-based lessons. The most relevant ones include:
Modeloff publishes prior year competition questions and you can use them as an effective way to prepare for the contest.
As you go through them you will get a sense of what types of questions they ask, and hopefully, understand what their style and approach is.
Step #5 Combine the above steps and practice building financial models
Once you have the Excel skills, technical finance skills, and you’ve seen past questions, it’s time to combine all of the above into your own practice competition.
Being good at financial modeling requires extensive practice. One of the best ways of training is to take a company’s financial statements, put them into Excel, and build your own forecast model. This will allow you to take all the shortcuts, functions, and financial knowledge you have and tie it all together.
In addition to Modeloff, you may wish to register for CFI’s annual Financial Modeling Competition, which in 2018 had cash prizes totaling USD $10,000. The competition is centered around a private equity case competition where participants must use the data in a Confidential Information Memorandum to build a model of a company from scratch.
We hope this has been a helpful guide to preparing for the Modeloff financial modeling championship and competition.
CFI is the official provider of the Financial Modeling & Valuation Analyst designation and on a mission to help you advance your career. For more learning and practice, we recommend the following CFI resources:
Below is a break down of subject weightings in the FMVA® financial analyst program. As you can see there is a heavy focus on financial modeling, finance, Excel, business valuation, budgeting/forecasting, PowerPoint presentations, accounting and business strategy.
A well rounded financial analyst possesses all of the above skills!
Additional Questions & Answers
CFI is the global institution behind the financial modeling and valuation analyst FMVA® Designation. CFI is on a mission to enable anyone to be a great financial analyst and have a great career path. In order to help you advance your career, CFI has compiled many resources to assist you along the path.
In order to become a great financial analyst, here are some more questions and answers for you to discover:
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