Help! Those who took BEC- do I really have to know the formulas for annuities?

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  • November 29, 2015 at 6:43 am #198634
    rosecpa
    Participant

    I noticed in my becker flashcards that they expect us to know the formula for PV of $1, and annuities. Aren’t they going to give that information in the question?

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  • November 29, 2015 at 8:14 am #745496
    ohiostategirlcpa
    Participant

    What formulas are you talking about?

    Do you mean amt x 1.1 x 1.1, etc for 10% FV?
    amt / 1.1, etc for PV?

    Yes, I used the above.
    Though not the annuity formulas (they gave the multipliers). But for annuities you just have to add the various years PV together, right?

    F91 A95 R90 B94
    CMA since 2015
    (Gleim books/PDFs, MCQs, SIMS)

    November 29, 2015 at 9:44 am #745497
    Future Ninja
    Participant

    they will give the PV factor.

    AUD - 79 (expired) retaking July 28,2016
    FAR - 76 expiring July 31, 2016
    BEC - 85
    REG - 74,74,74,74,59,70,

    November 29, 2015 at 2:38 pm #745498
    rosecpa
    Participant

    Yup, that's what I meant. The pv factors-phew! With less than 24hrs to my exam, I didn't exactly want to start memorizing those.

    November 29, 2015 at 4:06 pm #745499
    ohiostategirlcpa
    Participant

    On most problems, yes, they will give the PV factors, but not on all. I distinctly remember a question where I had to calculate because there were no PV factors.

    I remember wondering how were people expected to answer that if they did not how to calculate. They would have had to make educated guesses, or use another roundabout ways.

    F91 A95 R90 B94
    CMA since 2015
    (Gleim books/PDFs, MCQs, SIMS)

    November 29, 2015 at 5:33 pm #745500
    hasy
    Participant

    Same, I got one question where they PROVIDED NO PV factors. I encountered a similar problem while studying, you were supposed to make an educated guess. [roll eyes] I just guessed and moved on. If you're looking to REALLY tackle this area, I would really learn how to calculate NPV really well.

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    BEC 80 (10/23/15)
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    Roger + NINJA MCQ + WTB

    November 29, 2015 at 6:16 pm #745501
    Anonymous
    Inactive

    It's basic; just know it.

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