May 10, 2020 at 9:36 am #2998983HollyParticipant
Hi All – I have my FAR retake in less than a week. I received a 68 on my last exam in March and have been rewatching parts of lectures and pounding 33 sets of MCQs using Becker. I’m averaging in the low 70s and worried if I am ready for my retake. Any advice? I am desperate since this is my last exam and last chance before my first credit expires!May 10, 2020 at 11:42 am #2999076PDiddy2000Participant
@Holly I also took FAR this past March and failed with a 71. I was originally supposed to retake FAR on April 17 but they extended the stay-at-home order so prometric cancelled my exam. Based on my original April 17 exam date I started reviewing the sections that I was weak in, Select Transactions and Select Financial Statement Accounts. I gave myself a week to review each section by rereading only, no lectures unless something was really confusing, and taking notes. This helped me with time management because I wanted to stick to my one week limit for both sections. I scored “stronger” in State and Local Government and “comparable” with the conceptual framework sections so I mostly addressed my review with those sections by doing MCQs one day a week and rereading certain tricky items from both of those sections. on April 10 I found out my April 17 date was cancelled after I had already gone over my two weaker sections. At that time, I immediately applied the same approach to the Conceptual framework section by rereading that entire section and taking notes at the same time as still reviewing the other sections (mainly MCQs) once a week. Along with hunting for the earliest exam date that I could find because I wanted to keep that material I'd learn as fresh as possible. Once I found my new rescheduled exam date, May 21. I started taking two days to review each section. I've divided the 3 sections in half, rereading my handwritten notes and doing about 60-80 MCQs based on that half of the section. One half of a section usually takes me a day because I work fulltime so I'm reviewing a section every two days. I'll continue doing this until about May 18 or 19 then I'll spend a day or two doing MCQs on the state and local government section. You may be thinking why I'm sort of ignoring the state and local government section. Well, it kind of comes easy to me. I've taken FAR twice and both times I've scored “stronger' on that section but still failed FAR. The only improvement from my first fail and my most recent fail was I went from “weak” to “comparable” on the conceptual framework section. I improved a WHOPPING 5 points. To my credit, I took my first FAR exam back in April of 2018 but it still sucks to only improve a dismal 5 points. This isn't much advice but more of an insight to what someone else in your shoes is doing. Good Luck!May 10, 2020 at 8:07 pm #2999349allyParticipant
Another one in the same boat here! I got my 74 in March, and my test is current scheduled for next weekend. I actually passed it a few years ago on my first try, but that score expired thanks to the evil, evil audit. Now that I've passed that, I'm trying to figure out how to best retake FAR after being one point short (but feeling like I was 20 points short).
When I passed with an 82 back in 2016, I spent a LOT of time on simulations, and I still swear by them! They not only give you practice, but you can really develop your conceptual understanding if you read the explanations for the answers and take the time to understand them. When I took it this year, I was fresh off AUD and REG in January, and I was a bit too wiped to spend enough time on the more complicated/specific simulations. Naturally, I saw all of them on my test (yet somehow did worse on the MCs haha). I only had three weeks, and I spent too much time on note taking and not enough time practicing sims/questions.
Long story short, I would recommend the following:
– Practice some tests with MC questions in every chapter (even just a few) to make sure you aren't slipping. Use different question sets! I noticed that I'm starting to memorize the answers to my Roger ones, so I am only doing those MCs every other day now.
– If you have sections you're struggling with, do the simulation questions and read the explanations to the answers carefully. Go back and read the chapter/redo your notes if that helps. For instance, I learn best by physically writing out detailed notes, but if it helps you to type or talk out concepts, you do you!
And best of luck (and never forget government!!!)!May 10, 2020 at 9:27 pm #2999385JM03Participant
With less than one week, I would say your best bet would be to study the big topics. Think of leases, consolidations, statement of cash flow, pensions, etc. Odds are one of these will make up a good chunk of points on your exam. Make sure you understand those in your own words.
It may also help to read the Becker outlines. They get to the point and cover the key concepts while removing the fluff from the book.
Finally, just relax. If you’re scoring in the 70s on the mcqs and practice exams you’re in a good place.May 11, 2020 at 7:05 pm #2999970ChloeParticipant
Hey, I think you need to focus on details to pass FAR. It is good time to grab a pen and paper and make journal entries (T accounts if you prefer) that you've been studying.
Also, solve AICPA released questions and practice questions. If you already solved them, do AICPA practice questions again but this time, focus on SIMs. you might see the same sims on your exam.
Don't solve only wrong questions. you might forget the one that you got correct initially. re-take 10-20 MCQs per chapter.
That's what I did.