This is for people taking their exams in the July/August 2010 testing window.

This is for people taking their exams in the July/August 2010 testing window.
Any one have any ideas on how to study for this darn test the fourth time?
cpaindiana
What do you think is the reason you didn't pass the other times? Did you feel prepared on exam day? Were you shocked to find out you didn't pass, or did you know it coming out of the exam?
Can someone please explain the Ohio Loophole to me?
~ just kidding!
I felt better about it this time than I did last time going into it...but it seemed like some of the questions were not even similar to anything I had been studying. Simulations are a killer to me...by the time I get to them my brain is so fried I draw complete blanks on simple things like does cash go the B/S or I/S!!!
I guess my real question is do spend the time rewatching all the videos or do i just focus on doing MCQ after MCQ after MCQ and reading the Wiley Book? Just looking for some tricks others have used to pass it after taking it multiple times.
Well I haven't taken it at all, but I will take it July 5. I think it depends on your most efficient method of learning. For me, doing the MC teaches me best. Especially reading the answer right afterwords and really trying to understand the underlying concept.
When you read the question, as you read each sentence, try to tell yourself sort of what concept you are getting from reading that sentence.
Just a very simple example:
First sentence says: A machine w/ a life of 5 years was leased by ABC company for 4 years.
Now, no matter what the question is asking, you know that that first sentence is telling you that this is a capital lease, and you tell yourself this.
Try to do this as much as possible for each question. That was just a simple example, but that way of working the problems helps me learn and really cement the concepts in my head.
Financeguy I agree with your technique of trying to undersatnd the underlying concept. Initially I thought that cramming the multiple choice questions would be the solution to studying for this exam till I realized that it wasn't helping at all. I had to change my study technique and understand what concept the question was getting at before answering the question. It takes a little time for some folks to get the concepts as compared to others but if you put your mind to it, it starts making sense gradually.
I just got my score and I PASSED FAR with an 81!!!! I am finally finished with this beast. I am living proof that you can bomb a simulation (barely even touch it) and still pass! For those of you that are still on this journey - best of luck to you and don't let this exam make you feel defeated. You can pass it! For those of you who passed this time around Congrats!
All the best!!
Congrats Karen!
cpa indiana,
Taking FAR for the first time July 16. I don't know if I'm right, but I'd definitely focus on MCs. I feel like I've seen all the concepts before and know the main issues in FAR, yet I tend to get 70% on MCs the first time around (Becker). I feel that doing the questions will prepare you for their tricks since all the practice questions are taken from old exams! Based on the fact that simulations are your weak point, I'd leave about 1 hour for each at the end like many who already took the exam suggested, so you really gotta know how to do those MCQs fast! Also, I'd suggest to get another test bank since you are so familiar with the one you are using right now, it might not even help (i know i tend to memorize the answers quickly). On ebay you can find question banks for quite cheap (like Becker in pdf for like $30). Again, it's my first time taking FAR so the above comment is just my $.02. Best of luck!
Karen if you don't mind me asking what question actually appeared on your simulation? And congrats. Did you use the Becker CPA review material??
whonis2002 -
I can't really discuss what question actually appeared on my simulation. I can tell you that my 2nd sim was very long and dealt with areas unfamiliar to me. Yes, I did use Becker and I highly recommend it. It is expensive but very well worth it. I failed REG, FAR, and BEC twice before passing all the third time around. I started off using Wiley Exam Review (1st time around). Failed. Tried MDS the second time. Failed. Then moved on to Becker. Success! Passed each part first time after using the materials. I like Becker because the lectures are not very boring and the instructors explain things in a way that makes sense to me. Plus, I like the mnemonics. Becker added an about 20 points to each of my exam scores. With exception to AUD which I passed each time.
REG -54, 58, 79 AUD - 76, 76 (lost first time) FAR -60, 62, 81 BEC - 52, 54,76
cpaindiana,
I took FAR 3 times and finally passed it on Tuesday. The first time I did not study and received a 56 (NTS was expiring and didnt have time to study so just took it). Second time I got Becker 2010 went through the lectures, MCQ, and read the book. I went through all MCQ (excluding some supplemental questions) until I scored 90%-95%. . .this meant I did the MCQs 2-3 times. I was not confident with the SIMS and scored a 74 in Feb 2010. Third attempt, I watched all the lectures again but due to time constraints I did not read the book word for word but skimmed it about 4-5 times and did the MCQs 4-5 times. I passed with a 83 even though I thought I had still failed it. But I think repetition is the key and definitely understand the questions and do not memorize the answers. I think it also helps to take it the next window after you fail it since it's still fresh. . .waiting a few months this stuff will definitely go out of your mind (the nit picky tested concepts anyways) Hope that helps. . .good luck and keep trying.
About to take FAR for a third time myself... 72...74...?...
I am on my 7th DVD, and find FAR quite frustrating. There is SSOO much to remember, I am just hoping by the time I get through the DVD's and in to my review it is all going to click.
As of now, it just seems overwhelming. I am really striving to get it done the 1st time I take it. So, I am prepared to push it back until the end of August if needed.
Any areas of emphasis, or tips and trick are appreciated.
Glogo
Hit the progress tests as hard as you can along with the supplemental question!
@ glogo - my third time too...71 and 72. My retake is 7/2. Are you having a hard time studying because I am. Apparently, studying for something for the third time bores me to tears, lol
@CPA-Valenz review as you go. Don't wait for a final review to reread the prior lectures. Repetition is the key to remembering everything.
Can anyone tell me where I could purchase some cheap test bank questions for FAR? I just received my letter from nasba, and as I thought, totally tanked not for profit. I didn’t even study that section prior to sitting the first time and my review materials do not have many questions or material related to that subject. Thanks
I can give you some 2009 FAR questions if you'd like. What's your email address?
potatogun - thanks , its keepon7@gmail.com
@potatogun....if you don't mind sharing, what was your study strategy for FAR?
glogo and LSU,
i am in the same situation - taking far for a third time in July... It is depressing. The second time I felt better after the exam and I felt like I did add the 2 additional points I needed. Instead, I got 70 (3 points down). While I know 74 hurts much more than 70 at least you see improvement. I don't know how to study to be sure I pass this time.
@CPA-Valenz
Well I am using Becker so maybe my experience isn't exactly able to be replicated if you are using a different review. But I would watch the lectures, read the portion of the chapter for that lecture, and do the MC for each portion. I would complete the MC for the overall lecture and then do the simulation.
Every 2-3 lectures I would go back and skim through the prior lectures to make sure I could jog my memory on what I had learned before.
For my final review I totally reread the chapters (one a day) and then did the final tests (I had 2). I used some flash cards to just help me figure out what areas I was totally blanking on and then went to those specifically as well if I needed more reenforcement.
Granted I did this full time for a couple months so I studied probably 250-300 hours.
Edit: It looks like you have some time so just keep at it. Everyday consistently. The key is repetition to keep everything in your head.
Keepon - Gleim questions can be bought per section, check out their website. I'd say they're affordable. There's over a thousand per section.
I have barely studied.
glogo,
even if you didn't study don't panic. take 4-5 hrs not more than 12 hrs before the exam and go through your book. Read just the highlighted stuff and reinforce the concepts. If you know certain topic well just skim through it and continue. It's a great refresher before the exam and brings the small knowledge pieces to the surface of your brain. It helps even people who don't consider themselves last minute learners... Well, I shouldn't be giving advice when I failed twice. LOL
keepon
Gleim has an affordable testbank under $60. If you purchase the testbank online you can start using the testbank without delay. They have a testbank for each section of the exam.
It is a useful tool.
Hey Gang did any of you ever ran into the problem I had today. Tried my level best to study but could not retain anything. I pushed for about 3 hours but realized it was fruitless. My mind and brain couldn't comprehend. Any advise on how to over come this kind of problem? So frustrated I lost a day. I know this sounds silly but I need some advise on how to over come this kind of problem. Can't afford to lose any more days :(
FARbehind and glogo -
It has got to be torture for you since it's your last test. I started with FAR back in January and would like to have it not be the one I am still working on in August. Fingers crossed, we will get past in this time :). Ya'll will be finished (YAY!) and I can move on to my last one REG :)
This has been the most intense experience. I would not want to got through this again but I know 100% it has been and will be soooo worth it.
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