CPAWannaBe - What a thoughtful and courageous post. I love your perspective on the situation. You will eventually pass all of the parts for this exam.
I have only taken two parts so far - AUD and FAR, and I'm in Wisconsin, so I'm still waiting on my FAR score from 7/10. I just wanted to share my two cents.
First, these exams are not really easy for anyone, and I do think it is insensitive (intentional or not) for passers to claim they "guessed" their way through an exam to a favorable score. That's probably not what they mean, though, when they say that. What they mean is likely that they worked through a process of elimination and made educated decisions on their answer selections. Statistically, the odds of passing any section of this exam through pure chance are extremely minimal. While some people more quickly are able to pass this exam, with proper preparation, most people will eventually pass.
I would also like to add from my experience as an accounting educator. Over the years, I have worked with students from many backgrounds and ability levels. I can tell you that it is possible for a student to do all of the multiple choice questions, problems, videos, etc., for this exam, and still not have an adequate grasp on the concepts. The important focus of study should be on grasping concepts, theories, and methods so that you can apply them in a variety of situations the exam may present. For example, if the text shows you how to work a problem in a particular situation (i.e. gains), think about how the solution would be adapted for a slightly different scenario (losses). Consider the relevance and purpose of the concepts, and be more concerned with problem solving than rote memorization. The mnemonics are useful, but not an end-all. I particularly found that focusing on general concepts really helped on the AUD section, because auditing is a field that requires significant judgment in a lot of different situations. A thorough understanding will really help when evaluating questions that are unfamiliar to you and deciding between two good answers.
I would like to share with you an alternative to copious note-taking. In working through the study program (Becker), I printed out a good sample of questions as I completed the multiple choice questions and sims. I chose ones that were challenging, but also a bunch of others I thought covered the main points of each unit. Then, on the printouts, at the top of the page, I wrote down the main concept to which the question related, i.e. "Scope Limitation". On the bottom of the page, I would jot down a little note to myself about the question, i.e. "Inability to obtain audited financial statements of a significant subsidiary = scope limitation = qualified or disclaimer of opinion". This accomplished two things - (1) Writing something down makes me more likely to remember it, and (2) I then included the printouts in an organized three-ring binder for a very quick and effective review for use the week prior to the exam.
I originally took pages of notes for the FAR section, but soon concluded that it was too time consuming. Instead, I printed out Becker's Class Notes, highlighted certain areas, and wrote a few things in the margins. For example, if I encountered something on a multiple choice question I didn't want to forget, I wrote it on the Becker notes in the relevant area. Next to the compilation definition in Becker's class notes, I wrote "No Assurance". Again, Becker's class notes (with my added extras) and the printouts of various multiple choice questions with my short notes to myself written on them really helped me use my study time as efficiently and effectively as possible. I found I could review many multiple choice questions much faster by glancing at a sentence or two I wrote on the printouts than reading the entire thing over and all the answers. The objective is to grasp the concept behind the questions. That same concept could appear in a different multiple choice question presented in an alternative way. So, for example, no matter how it might be brought up in any question, I know that compilations provide no assurance, and that the inability to access a significant subsidiary's financials (or other important audit information in a variety of contexts) is a scope limitation.
I don't think it's necessary to take pages of notes to pass this exam, if you have good study materials.
People learn in different ways. Some people are visual learners, some are auditory, and some are kinesthetic. There are other classifications too. Try to determine for yourself how you learn best. If you're an auditory learner, in addition to the value of the videos, you may want to audio tape yourself stating some important concepts and play it back in your car while driving. If you're a kinesthetic learner, maybe you would benefit from taking your flashcards with you while you go for a walk. Visual learners do well with seeing the written word, pictures, and diagrams. Brain mapping is a great technique for visual learners. Trying just a few new things could make the difference in your score.
Anyway, I say all of this with the greatest humility and respect for everyone's efforts in working toward passing this exam.
Eventually, after passing the exam, I would love to use my background in education to help others pass too. I hope this is helpful to you.
Jan
FAR - 94 (7/10)
AUD - 99 (8/20)
REG - 99 (10/15)
BEC - 88 (11/20)
