The CFO's Chair
You run the firm's capital. Ten board meetings, one question every time: where does the cash go?
The brief
You take the CFO's chair. Each quarter the board hands you a slate of projects — each with an outlay and its economics — and a limited capital budget, and you decide which to fund. Some quarters add a financing or a payout call. Then the firm moves: value is made or destroyed, the cash buffer swings, leverage builds. It starts with a routine accept/reject. By the end you'll face a risk-adjusted-hurdle trap, a financing squeeze, the leverage trade-off, a profit-≠-cash cash crunch and a downturn — often at once. A positive headline number won't save you: you have to know which number to trust. Every world of the course, live.
How you play it
Ten board meetings, one capital slate each: fund it, defer it, or borrow for it.
The job: Chief Financial Officer — Deciding which of the company's competing futures actually gets funded, and how that funding is raised without mortgaging the firm to its lenders.
What a CFO actually does →What you're judged on
Every decision is marked to market server-side. These are the meters that move — run one to zero and the simulation ends there.
What it tests
No trivia — the simulation only asks what the chair actually has to know.
Where you learn this
The CFO's Chair is the finale of Capital Quarters, waiting past Level 25 — The Corporate Finance Capstone. You can sit down right now and find out how much of it you already know; the course is there for the parts you don't.
Play Capital Quarters →Other chairs
The Weekend
Sixty-two hours to Tokyo's open. You cannot save everyone — and one of them you cannot lose.
The Structurer
Every note is a bond plus options. Pick the wrong shape and the client finds out at maturity.
The President
Every policy has two halves: what you do, and who pays. The bond market grades the second one.
The First Year
Twelve months on your own. No perfect month — only wiser and poorer ones.
The Newsroom
One shift on the data desk. Every story is a stats trap in disguise.
Mission Control
No options to pick — do the math, key in the number, bring them home.
The Policy Chair
You are the central bank. One rate, every quarter, a whole economy on the line.
The Pit
You run the book. The tape moves, the Greeks bite, margin is real. Survive the session.
Your Own Worst Enemy
The market can't hurt you. You can. Ten moments, one enemy — the one making the decisions.
The Desk
Run a derivatives desk for one week — it does not stay calm.
Rotation Day
Ten desks, one stack of cards each. Sort them right — and never, ever misfile ethics.
The Expert Witness
Ten regression tables enter evidence. The significant one is usually the trap.
The War Room
The VaR says you're fine. The tail says otherwise. Ten audits — read which one is lying.