Took FAR on 10/29. Yikes!

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  • #158974
    Anonymous
    Inactive

    I just took FAR Friday, October 29, 2010.

    First a little background. I took FAR and failed twice before but did not put in the requisite study time, so I don’t even like to count those as “tries.” They were half assed attempts. I had the mindset that this test was way too hard and there was no way I could pass. I needed to change gears and study for a different section. I chose BEC because I thought it would be the “easiest.” I studied for and took the exam in the following order: BEC, AUD, and REG and passed each on the first try. I utilized Becker to study. I watched each lecture once, read each chapter once, took notes, and went through each chapter’s questions once. I finally set my mind to it and learned to tell others “no.” I had to put myself first and it worked.

    This leads me to this past Friday when I sat for FAR. I knew from past experience, half assed or not, that FAR was a beast. I followed my same study plan as the other sections only this time I took four days off of work right before my exam to review. I even purchased the Becker Final Review (which I was not too impressed with).

    Contrary to a couple other posters on this cite the majority of my MC questions were computational problems, not theory. There were probably only 10 or less theory based questions in each testlet. The first testlet was challenging but definitely doable. I actually felt a little happy inside thinking that my studying had paid off. That feeling did not last long. Testlet two was definitely harder and the third testlet was almost impossible. The subject of each MC question was familiar but each question was just so challenging. So much information to process. The majority of the questions were very lengthy. The questions were four, five, or even six lines of verbiage that needed to be read to set up and ask the question. I felt like it was eating up so much time.

    Before I walked into the exam I had it worked out that I would take 50 minutes for each MC testlet and 45 minutes for each simulation. I pushed over my limit on the second and third testlets, which made me very nervous as I had less time to work on the simulations.

    Next came the simulations. One piece of advice – know your journal entries. I was not comfortable enough with them and I’m sure I will pay for it. The written portion of BOTH simulations was EASY. I have read other posts that said that their written portion was pretty easy too. It was basically explain the difference between X and Y. And both topics were super easy. Almost too easy. I felt like they just gave away an easy 10 points, which I totally needed!

    The individual work tabs in the simulations were each on a different topic. Each had a long situation to read through before you did any work. Sometimes I was a little confused as to what exactly they wanted. Again reading so much felt like so much time wasted.

    Overall the exam was more difficult than I expected. The MC was really hard and really lengthy. The topics were familiar but most of them had really difficult twists thrown in. Same with the simulations; however, the WC was easy. Walking out of the exam I feel it could go either way. If I had to predict I would say I probably failed but I know from going through this process that you really never know what to expect since the test is curved. I am hoping for the best and stressed with the waiting game.

    A few pointers for those taking FAR this quarter:

    1. Pay attention to your time on the exam. The questions are so difficult and so wordy that you could easily go over on the MC and not leave enough time for the Sims.

    2. Do not underestimate knowing journal entries. I kind of glossed over them in my studies figuring that I could figure it out on the exam. Don’t go this route… study them.

    3. Do as many MC problems as possible to prepare for the exam. This is especially important in the FAR section.

    Good Luck to everyone testing this quarter!

Viewing 11 replies - 1 through 11 (of 11 total)
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  • #255482
    2010Please
    Participant

    Thanks for reporting in…wow that sounded like a nightmare!! Secretly (well, not so secretly now), I wonder if the AICPA has kicked it up a notch to push more people into the IFRS material…in other words, throwing the worst of the worse at us in this last quarter. I'm hearing so many horror stories recently. But, then again, that makes me wonder why the easy WC. Maybe if you did okay on the MCQ and the WC, you'll be able to get a passing score – I don't know. I just know that I'm not feeling good about going into this one at the end of November. The mostly computational and the lengthy MCQ with strange twists – not something I had hoped to find when I sit for this monster. Thanks for the heads-up and hope you pulled through with at least a 75!

    AUD 92, REG 85, BEC 90, FAR 85
    Ethics 100
    Obtained License 7/11/11 🙂

    #255483
    FARbehind
    Participant

    car16015

    Thanks a lot! This was very informative. It brought me back to reality so to speak. Every time I took the exam I had similar experience to the one you're describing. MCQ mostly calculations with twists, simulation tabs with information I spend a long time just reading, JEs all over, and WC that I know how to do but never have time to do properly… So nothing changed as far as I am concerned. I am using a different strategy this time. Let's see if it works. Good luck and happy waiting. You have a good chance I think…

    aud,bec,reg-passed
    far-->75 Done!!!!!
    ethics-100

    #255484
    Anonymous
    Inactive

    Car..

    I took the exam also on 10/29, and had basically the same feeling afterwards! I wouldn't be surprised if I ended up in the 50's. The first testlet wasn't too bad, but then it got really tough. The third testlet I went over my time limit, so the last simulation I was rushed and guessed on a tab. I also had a ton of JEs on my simulation, wasn't expecting that! The WC was also simple, as well as the research tabs. I didn't know the test was curved, that gives me some hope. Here is hoping me and you pass this thing and are done!

    #255485
    2010Please
    Participant

    car16015 and Dan,

    Can either of you say whether the JEs were just cold JEs, or whether you selected the accounts from a drop-down list and then put in the correct $ amount…in other words, did you have to come up with the names of accounts from memory or select from a list of options?

    Also, if you don't mind, may I ask if either of you use the simulations in Becker to prepare for your exams – I haven't had a chance to go over them yet, but I'm thinking there should be some samples with JEs there. If you used Becker's simulations in studying, are they similar to what you experienced on the real exam, or much different?

    AUD 92, REG 85, BEC 90, FAR 85
    Ethics 100
    Obtained License 7/11/11 🙂

    #255486
    Anonymous
    Inactive

    The JE's in the Becker simulations is a great place to practice! it is a drop down menu of choices..

    #255487
    Anonymous
    Inactive

    The exam has a drop-down menu for choosing JE's, but you have to type in the amount of the JE. I did not use Becker for my review program.

    #255488
    Anonymous
    Inactive

    @ Car – thanks for the writeup/headsup. Very helpful and as we all know to make sure to read the questions slowly, it doesnt hurt to have a reminder out there. FAR is a beast so I've heard, I've failed both REG & AUD so I know I need to step up my game for this exam. Good luck everyone!

    #255489
    Anonymous
    Inactive

    2010Please:

    As others have noted the account names are drop down menus but they give you a lot of account names to pick from so you need to have a good idea of what you are looking for. I used Becker and did a couple simulations prior to the exam. I really wasn't too worried about the functionality of the sims as I felt pretty comfortable with them. It doesn't hurt to practice the sims but spend more of your time reviewing over and over the material in the book and doing MC questions. If you study the journal entries in the Becker book you should be in good shape.

    Good luck!

    #255490
    2010Please
    Participant

    CPA Someday, Dan, and Car:

    Thanks for the info and advice…now if I just had more than 24 hours in a day to study, I'd be set. Gonna do what I can with the time I have though and hope to squeeze out my 75! Hoping the same for all ouf us in this boat!

    AUD 92, REG 85, BEC 90, FAR 85
    Ethics 100
    Obtained License 7/11/11 🙂

    #255491
    Vern
    Participant

    I have it on 11/13. Just really started studying serious two weeks ago, and I was traveling for work last week. I'm doomed. I passed Auditing and barely passed. I was burnt out and put this stupid test off all summer. Now, I realize I'll probably be out $500 (Test and Study Material) and have to relearn the new 2011 material. I'll kill myself over the next few days, but working FT doesn't help. I hate myself for procrastinating, congrats to all that knock this out in exam out in such a short time frame. I guess I'll study JE's

    Audit Passed
    FAR Passed
    REG Passed
    BEC ??

    #255492
    Anonymous
    Inactive

    Vern is it possible you can move your test to later in November? If not don't waste energy getting down on yourself. Work as hard as you can. That is all you can do.

    Good luck!

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