Panel 1 · The mark map
The 4 Assessment Objectives
AO1
Knowledge
Define theory correctly
AO2
Application
Use case-specific facts & figures
AO3
Analysis
Chain reasoning with "which means…"
AO4
Evaluation
Commit to a judgement with reasons
Panel 2 · What the question wants
Command Words, Quick Ref
Calculate2 to 4mAO1+AO2 · show the working
Explain4 to 6mAO1+AO2 · because → so → meaning
Analyse9 to 10mAO1+2+3 · two full chains
Assess10 to 12mAO1 to 3 + light AO4 · 1 judgement line
Discuss10 to 12mFull AO1 to 4 · both sides + view
Evaluate16 to 20mFull AO1 to 4 · justified judgement
To what extent16 to 20mFull AO1 to 4 · scale of "yes"
Justify16 to 20mHeavy AO4 · defend the choice
Recommend16 to 20mFull AO1 to 4 · choose + justify
Panel 3 · Do not blank on these
10 Killer Formulas
01Gross profit margin = (Rev − COGS) / Rev × 100
02Operating margin = Op profit / Rev × 100
03Net margin = Net profit / Rev × 100
04Break-even units = FC / (P − VC)
05Margin of safety = (Actual − BE) / Actual × 100
06Current ratio = Curr assets / Curr liabs
07Acid test = (Curr assets − Stock) / Curr liabs
08PED = %ΔQD / %ΔP (sign matters)
09ARR = (Avg annual profit / Initial) × 100
10Labour productivity = Output / Workers
Panel 4 · Drop these into the last paragraph
5 Judgement Stems (AO4)
"On balance, the decision is justified only if… [condition]"
"While X benefits Y, the cost of Z likely outweighs it because…"
"The strategy depends critically on… [variable]"
"In the short term…, but in the long term…"
"The most decisive factor is… [name it, weigh it]"
Panel 5 · Cross these out if they appear
5 Phrases That Lose Marks
"It is a good idea"No commitment, no reasoning → Level 2 cap.
"I think"Examiners want judgement, not opinion.
"Some people say…"Vague, name a stakeholder instead.
"This is a positive"Empty, what specifically, for whom, why?
"In conclusion, X is good"Conclusion must qualify, not restate.
Panel 6 · Last 60 seconds before clock stops
4 Pre-Submission Checks
Did I name the business at least 3 times by name?
Did I include at least one number or figure?
Does my conclusion commit (not "good or bad")?
Did I write the question number on every answer page?
If 16-marker: did I write at least 4 paragraphs (intro · case for · case against · judgement)?