ScaredCPA
offlineMember
Econ is my weakest area. I know it scores only 10% but it makes me nervous that it might be all I need to pull off 75. If you took BEC in this window, did you get a lot of Econ questions and how bad were they? Should I worry about it at all?
CAcpahopeful2010
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I havent taken BEC yet (its my next exam) but i do its like what you said 10%, so being all M/C exam figure that would be 1-3 questions at most? I would go over it and do the m/c 1-2x and what sticks, sticks. Focus more on the Cost Acct'g & Finance part. Thats my opinion.
ps. I like your screen name, scared cpa. thats me also! tomorrow at least when i take my exam haha.
financeguy
offlineMember
I don't think that when it says a part of an exam makes of 10% of the exam, I don't think that means number of questions...I think it means thats how much of your score it counts for. For instance you could have a lot of econ questions just worth very few points each. Definitely more than 3 questions.
cpa journey
offlineMember
ScaredCPA
BEC is a mixed bad - my first test was contained a lot of calculations. Felt constrained for time from the first testlet. The second time there were calculations just not as many.
ECON is about 8 - 10% - I would know the key points, answer the MCQ and move on. If you are using Becker - the test is weighted towards Chapter 3, 4 & 5. I would focus my attention on these areas and do daily practice tests. Also, keep examples of the "Frequently" tested problens and go over them & understand what you are doing. During the test I had a problem and was having a brain freeze. I knew how to work a similiar problem from the homework. I wrote down the figures from the homework - solved the problem and then plugged in the test information. I think I got it correct.
If you focus on the heaily tested areas and practice the problems you should be in good shaape. Just kept up the practice tests as you progress - or at the end of Chapter 5 you willl be thinking - I knew that information a couple of weeks ago.
Good Luck!
financeguy
offlineMember
My advice for BEC:
Know the financial ratio's and calculations: ALL of them. Know them like the back of your hand. Same w/ all calculations for cost accounting. Practice the hell out of MC questions involving these calculations. Know all the stuff about calculations of interest, all that stuff. If you know this stuff, and I mean really know it, then about half of your test will be a breeze. You will look forward to questions involving calculations.
Spend a good amount of time on the business law/partnership stuff. Its worth a lot and its really not a ton of info. Best bang for your buck when it comes to studying.
Have good understanding of IT, especially internal control. Know it as best you can. That stuff is so boring, and some of it is like a foreign language, but it is worth 25% of your grade.
You will pass if you got all that covered.
MPoni123
offlineMember
hey ScaredCPA - i wouldn't worry about Econ too much. i just took BEC for the 3rd time yesterday, and none of my 3 exams consisted of many Econ questions. i would probably go through the multiple choice once and get the main concepts down, but that's it. focus more on the other chapters.
you need to know business structure very well and it can be overwhelming if you have never dealt with the different types of entities before. i honestly wouldn't bother memorizing ALL the financial ratios because those will be more likely tested in FAR. i would recommend what cindy from yaeger said and memorize the quick ratio and current ratio because she said they are more likely to test those in BEC...and maybe the turnover ratios. if you wanna memorize all of them more power to you! definitely focus on other formulas in chapters 3 and 5. you aren't sitting for it until August so hopefully you have the time to review!
MPoni123
offlineMember
i also allocated about 45 minutes to each testlet and finished with about 4 minutes left. (it is a 2 1/2 hour exam) that allowed me to go back through all the questions and take a quick glance and also go back to the questions i marked.
i dunno if this will help, but if i got to a question and couldn't solve it within a few minutes, i marked it and moved on. then i would go back to it once i have answered everything else that i could. my exam was pretty calculation heavy, too.
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