Exam Technique and Effective Study

1
Exam Technique and Effective Study Sarah
Roberts, FCCA sarahroberts_at_bpp.com 447781 113739
2
Contents

• The multiple choice CBE, ACCA F1-F3
• RAPT
• The fundamentals, ACCA F4-F9
• The Professional Level
• Effective Study

3
Multiple choice exams

• Do not underestimate the exam
• Read the question
• Do calculations on paper not in your head
• Use the taught methods and proforma
• And remember if in doubt its C!!

4
Multiple choice sample question

• The following information has been prepared by a
  trainee accountant

Trade receivables, 1 July 20X5 130,000
Trade payables, 1 July 20X5 60,000
Cash recd from customers 686,400
Cash paid to suppliers 302,800
Discounts allowed 1,400
Discounts received 2,960
Contra between payables and receivables ledgers 2,000
Trade receivables, 30 June 20X6 181,000
Trade payables, 30 June 20X6 84,000
5
Multiple choice sample question

• What figure should appear in Annies income
  statement for the year ended 30 June 20X6 for
  purchases?
• A 331,760
• B 740,800
• C 283,760
• D 330,200

6
RAPT

• Reading and preparation time
• Do not open the answer booklet
• 15 mins given before all written papers
• First use to plan order of answering question
• Write time allocation by each question, 1.8 mins
  per mark
• Do not read questions in detail
• Start work on first question on exam paper

7
The Fundamentals General advice

• Always read the question
• Highlight and write on the question paper
• Time management
• Answer in the format asked for

8
The Fundamentals Numerical papers

• Show workings/calculations
• Cross reference workings to the final answer
• Make answer easy to follow
• If using formula write it out first if not
  provided
• Learn proformas

9
The Fundamentals Written papers

• Answer the question asked not one you wish had
  been asked
• Do not waffle
• Write in short paragraphs, leave white space
• Imagine reader is an intelligent person without
  any specific accounting knowledge
• Use the marking guide, usually 1 point per 1 mark

10
The Fundamentals Example

• Question ACCA F8
• (a) Explain the term audit risk and the three
  elements of risk that contribute to total audit
  risk (4 marks)
• (b) Identify areas of inherent risk in the
  EuKaRe charity and explain the effect of each of
  these risks on the audit approach. (12 marks)
• (c) Explain why the control environment may be
  weak at the charity EuKaRe. (4 marks)

11
The Fundamentals Example

• Solution
• (a) State the definition of audit risk and the 3
  elements
• (b) Find 6 risks from scenario and state effect
  on audit approach can use table format
• (c) Find 4 examples using scenario and expand
  point

12
The Fundamentals Example

• Marking guide
• (a) 1 mark for explanation of each term
• (b) 1 mark for each area of inherent risk and 1
  mark for explaining effect on audit approach
• (c) 1 mark for each point on weak control
  environment

13
The Professional level general advice

• Up to 5 professional marks per paper
• Use information in question in answer
• Less focus on numbers
• Higher level skills required
• Time management
• Marking guides weighted
• Knowledge is not enough
• Multiple issues within question
• Case study type scenarios

14
Effective Study

15
The Memory Fallacy

• How good is your memory?
• Does it get worse as you get older?
• The memory is like a muscle the more you use it
  the better it gets.
• The more it is neglected, the worse it gets.
• Adult learning trained out of using imagination
• Its only worse if you allow it to be!!

16
Fundamental Principles

• Association
• Linking things together
• Eg Song from your holidays
• Imagination
• Using visualisations
• Eg Remembering a holiday
• Location
• Provide a context
• To differentiate between information

17
Learning Styles

• Visual
• Written information, notes, diagrams, pictures.
• Visual appeal.
• Auditory
• Spoken word. Listen and take notes later.
• Auditory clues and music.
• Kinaesthetic
• Touch and movement. Imitation and practice.
• Performing actions. Using tools.

18
Learning Styles

• Pragmatist
• How can I apply this in practise?
• Activist
• Ill try anything once
• Reflector
• Id like time to think about this
• Theorist
• How does this fit with that?

19
Standard Note Making/Taking

• What is missing from standard notes?
• Visual pattern
• Colour
• Association
• Imagination
• Visualisations
• Dimension

20
Consequences for your brain

• Key words are obscured
• preventing the brain from making appropriate
  associations
• Difficult to remember
• single colour - boring - rejected and forgotten
• Waste of time
• unnecessary note taking and reading
• re-reading and searching for key words
• Failure to stimulate the brain creatively
• list style notes gives the brain the sense that
  it has come to an end or finished and prevents
  associations

21
Consequences for your brain

• Lose power of concentration
• Time Consuming habit of note taking
• Loss of confidence
• Loss of love of learning
• Boredom Frustration
• Hard work less progress!

22
Mind Mapping

• The mind map is an expression of radiant thinking
• Characteristics
• Subject crystalised in a central image
• Main themes radiate from central image as
  branches
• Key word or image used on branch in decreasing
  order of importance
• Branches form a connected nodal structure

23
Exercise 1

1. In the centre of your page draw a circle. Draw
   10 lines coming out of that circle.
2. When I give you the central word, write it in the
   circle.
3. Then you write 10 associated words along each of
   the other 10 lines you have drawn.

24
Mind Mapping

Happiness
25
Exercise 2

• Now do the same exercise around the central image
  seen below.
• This time you are not allowed to use any words.
  All associations must be drawn as a picture,
  symbol, diagram, etc

26
Picture

• Your brain enjoys the pictures
• Relaxation
• Pleasure
• Develops visualisations
• Unleash the power
• Enhance your memory

27
Advantages of Mind Mapping

• Time saved by
• noting only relevant words 50-90
• reading only relevant words 90
• Key words visually arrange
• enhancing recall and concentration on real issues
• Clear and appropriate associations between key
  words
• The brain finds it easier to accept and remember
  visually stimulating mind maps
• Encourages continuous and potentially endless
  flow of thought
• Brain becomes increasingly alert and confident in
  its abilities

28
Mind Mapping Laws

• The 3 As
• Accept
• Accept that it may work
• Apply
• Experiment to find a personal style
• Adapt
• Use the techniques in different ways

29
Mind Mapping Techniques

• Use emphasis
• Central image Colour Dimension VARIATION
• S p a c i n g
• Use association
• Arrows Colour --- BOIs
• Be clear
• Onewordperline PRINT Connect lines Thickness
  Boundary Horizontal Upright
• Personal style - 1 Rule

30
Questions