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THE FAR EXAM

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Comment by MATT on November 29, 2009 at 5:22am
Right, I didnt go back mostly to the mcqs after I answered them. I had more than enough time to write good essays and do what I could on the sims which was not much.
Comment by FutureCPA on November 28, 2009 at 10:31pm
I just took my FAR exam today and posted the following on the cpanet forum:


Mostly everyone on the forum has said that time management is critical in FAR. So I made sure I track my time. Ideally, I told myself I will take 45 per testlet in MCQ's. This way, it will leave me a good 1 hour and 45 minutes for the sims. The first testlet was fairly manageable and I finished it in 40 minutes. The second set of MCQs were horrible and I took 55 minutes to finish it. Assuming I didn't do so well in the second one, the third one was moderate, and I took 40 minutes. So I ended up being on track with 1 hour and 45 minutes for sims. The first sim took 1 hour and the second one was 45 minutes. I was able to finish it with 1 minute and 55 seconds remaining.

My advice, manage your time very carefully, because those mcq calculations can easily eat up all your time. Also, even if you mark your mcqs for review, don't go back and review them. When answering the mcq, I told myself that this is my only shot, no going back and correcting the answer. This way, I saved myself some time for the sims. If you don't know it the first time you see it, chances are you will not know it in the second go around.

I wouldn't say that there is any one chapter that is more important than the other. I had all random stuff thrown at me.

So go in there with full confidence and show them that you know your material.

All the very best for Monday!
Comment by Dokimcpa on November 28, 2009 at 9:16pm
For those who took the FAR exam, how did you distribute your time during the exam? My plan is 50 mins (MCQ1), 50 mins (MCQ2), 50 mins (MCQ3), 45 mins (SIM1) and 45 mins (SIM2).

I had the same plan last time, but I ended up spending too much time on MCQs as they were getting harder each testlet. I ended up spending 3 hours and 10 mins on MCQ sections and I was only able to finish the first simulation with 1st written communication and Research in 42 mins, which was quite challenging content and then managed to do the 2nd written communication and research in 18 mins.

I did not have chance to touch the 2nd simulation at all (not even guessing). The problem I faced was that I could not just let MCS sections go when I knew the answers to the problems- just took me time to solve it. As I remember many of them were calculations on 2nd and 3rd testlet. As a result, I got a comparable performance on MCQs and weak performance on SIM and Written communication.

I would appreciate for any advice on the time management. I am taking the FAR exam on Monday. Thank you.
Comment by CPA Exam Club on November 22, 2009 at 1:59am
Sounds good!
Comment by MATT on November 21, 2009 at 6:15am
Lets do this!
Comment by Roger Philipp on November 19, 2009 at 10:37am
FAR focus - learn all about the FAR section here

http://blog.rogercpareview.com/2009/02/cpa-exam-focus-far-financial...
 

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