FAR Tips (especially for my fellow anxious people)

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  • #1742027
    stran620
    Participant

    Hi all. I've browsed this forum on and off for roughly the past 5 years now, and I am glad to share that I HAVE FINALLY PASSED FAR!!! I recently sent an email to a colleague of my two cents of suggested topics to focus on and tips on how to avoid some lesser known test day woes. I'm typically not much of a poster, but I thought sharing the email is the least I could do for all the years of service this forum has provided me. 🙂

    DISCLAIMER: Some tips may be testing center specific, so they may not apply to you. Check with your local center. Also, these test day tips may only save you a few seconds or minutes overall, but for the anxiety ridden test takers like myself who want to utilize every second, this is for you!

    – NEED NTS & ID on exam day
    – You get a locker with key to put all your stuff. At this time I also take out my snack, water, chapstick, gum, etc from my bag and set it up in the locker for quicker access later during break time.
    – It can get cold in the room. You can wear a light jacket. I try to remember to wear pants with no pockets (workout pants or something) and a pocket-less sweater over a basic tee. Depending on how stringent the staff/center are, you're going to be security checked when checking in and beginning your exam at a minimum. This last time I totally forgot this and wore jeans and a hoodie, and I had to flip out all my pockets including the mini pocket and the hood of my hoodie when leaving for break and again coming back from break. Also when I came back from break, they were checking someone else in so I had to wait. If I did not eat my snack basically concurrently with the walk to the bathroom, I would've ran over the break time and my test time would've started. It goes by faster than you think.
    – Similar to above about them helping someone else when you need them. You can get new scratch paper but they will tell you that you need to come out of the room to get it. You'll have to wait if they are helping someone else (they do try to go fast but still….) so if you can, peek out the window of the testing room and try to see if they are free. Not too big a deal but I hate standing there all anxious.
    – Also if you get new scratch paper, remember to transfer your launch code. The last time the staff person did not remind me to transfer over the launch code, and I had to come back out. See above if you have to wait yet AGAIN if they are in the middle of helping someone….
    – Request paper & pencil if you prefer those over laminate board and dull smudgy pens. Email candidatecare@nasba.org at least 2 weeks prior to your test date and include name, testing center number, appt day & time, exam part, NTS section ID, and confirmation number. It's possible not all are needed but I include it all.

    TOPIC SUGGESTIONS:
    – I did not review everything for this attempt. I really just finished some lectures that I didn't get to the last time and focused on the topics below. I would suggest spending at LEAST 70% of your final review doing mixed MCQ and SIMS on these areas specifically and then the rest of the time doing mixed from everything. I honestly believe that is what helped me. I raised my score by 9 points with only a fraction of the study time I put in for the last last one (it's busy season!).

    foreign currency fx
    identify functional currency
    identify the method to convert Fx FS
    translation
    remeasure
    fx translation adjustment
    which FS reported on & where located within the report
    bonds
    leases
    deferred taxes
    treasury shares
    R&D – including what is allowed when recording investment***
    PPE capitalize valuation
    valuation of donated assets that not part of a collection
    SCF – lots of DIRECT method
    pension
    funded status (had amounts of PSC & transition obligation)
    net periodic pension cost
    business combinations
    goodwill valuation & impairment
    investments
    acquistions
    intercompany/consolidating

    Hope this helps you guys!!! Last one that I am making my b**** is REG!! (Any tips for me is appreciated. ^_^) GOOD LUCK TO ALL!

    #1742117
    sacpa
    Participant

    Thank you for the detailed tips, including the ones for test center. During my last attempt, I panicked because there was so much chaos in the test center with lot of people checking in at the same time & computer camera not working. When I came back from break, the test center guy & I forgot about the laminated sheets & I had to wave like crazy to get his attention. To add insult, the test center guy took a mug shot using his cell phone with me holding a paper with my information, like they do for prisoners.

    Good Luck for REG! Like you, I have also been following this site for many years now.

    Winners don't quit. Quitters don't win.
    #1742372
    noclady
    Participant

    Yes, thank you so much for the details on the testing center. I think as much as studying for the exam itself, the whole getting checked into the testing center is freaking me out. I'm taking my first exam in a few weeks, and I keep going over whether I should request paper/pencil, what I should wear (reminding myself to leave the watch and earrings in the car…LOL), etc. I'm thinking I'll be too pumped with adrenaline to be hungry or thirsty for the whole time, but I'll bring a snack anyway.

    “We are what we repeatedly do. Excellence, then, is not an act, but a habit.” ―Aristotle
    #1742844
    sacpa
    Participant

    @noclady: I can relate to the test center experience. During one FAR exam, I kept reminding myself to stay calm. When faced with a tough question, I took deep breaths to not freak out, made a well educated guess & moved on to the next question. I got a 69 in that exam. Though I was sad that I did not pass, I was happy for my upbeat attitude during the exam & getting the closest score I have ever got to a 75.

    For a snack before & during the exam, I have a banana & little bit of water. All that potassium from the banana gives so much energy & helps to be alert.

    I have a schedule to be followed one day & morning before the exam. I have a list of tasks that I need to do before leaving for Prometric & while I am there as well as things to take with me for the exam.

    Winners don't quit. Quitters don't win.
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