FAR Experience

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    Topic
  • #166418
    Anonymous
    Inactive

    Guys

    I just gave my FAR exam yesterday and let me tell you what a day it was.

    1st testlet alright

    2nd really difficult

    3rd alright

    Now the sims, they were alright but I was running out of time, had 7 finished 5, and could not complete the research tab as well as another sim did only half and put some zeros down in the end it was some sort of a spreadsheet format. I was told once even zeros count and you may get some credit( who knows).

    When i came out i realized I missed 2 MCQs because of my carelessness and the sim i could not complete I knew how to do it but ran out of time. Nothing could be said about the research tab as I just had no time.

    I hope a made it in this exam, i want to know if anyone could not finish all the sims and still managed to pass it.

    I had given my audit in November and had a same feeling( even though I passed it with a 84) but i did complete all the sims(some were calculated guess)

    Also an advice for new FAR test takers, please focus on IFRS, it is tested really heavily both concepts and calculations. Also study really hard for not for profit and governments and LEARN HOW TO MANAGE TIME (I am already bitten by this time bug, hope others take care of it)

    After the exam I got couple of good news which will have extraordinary impact on my life, one of which is my wife is pregnant and the other I can’t talk as it’s more personal but THIS EXAM has taken over my life, can’t even enjoy these precious moments

Viewing 12 replies - 1 through 12 (of 12 total)
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  • #324123
    thechamp26
    Member

    I just had a similar experience… I just filled in random stuff for like 2 of the sims.. If I don't pass, it's definitely because of the sims.

    #324124
    Mikey89
    Member

    Sounds like my experience too, testlet wise. However, I was able to finish all the sims with 45 mins leftover. I'm pretty sure I horribly failed. Waiting to find out is what really kills you. I find out in one more week 🙁

    Reg 4/18/12 78
    Far 7/30/12 74, 74, 75
    Bec 11/11/12 74, 78
    Aud TBD 51, 71, XX

    #324125

    @amtry I took the exam yesterday as well. Definitely agree with time management. I ran out of time towards the end and just filled in random numbers. I spend too much time on my 2nd testlet. My best advise to people taking FAR is if you dont know an answer, flag it and come back at the end. You dont want to waste too much time on any one problem and miss out on ones you do know. This was the second time taking this test and it was completely different from the last time I took it.

    Best of luck to everyone!!

    #324126
    thechamp26
    Member

    That's exactly what happened to me Purple Orchid… My 2nd testlet was extremely difficult and each question was like 5 lines long. Totally killed my time for the sims.

    #324127
    MFCPA
    Member

    I'm taking FAR on Friday. How much time do you guys recommend I budget for the sims?

    DONE!

    #324128
    Anonymous
    Inactive

    @MFCPA atleat 85 to 90 mins, more the better but not any where around 60 to 70mins, thats my take specially for the FAR,

    (AUD was a different story, had a lot more time on hand to play with)

    #324129
    MFCPA
    Member

    Thanks. I've passed Audit too, four hours was plenty for that exam. But I also never needed a calculator. This exam is scaring me, the amount of information is incredible. I cannot remember it all.

    DONE!

    #324130
    Anonymous
    Inactive

    @MFCPA, first of all good luck !, if you have studied well you will make through, just remember all the concepts (US GAAP, IFRS, Not for Profit orgs and Govs) and learn how to appy it. and again manage your time (honestly thats the key)and as purple orchid said

    If you get something totally from the other of this planet flag it and move on.

    #324131
    MFCPA
    Member

    Thank you for your advice. And congrats on the child!

    DONE!

    #324132
    og954
    Participant

    Thanks for the advice OP. I am beginning to study for the CPA exam and have chosen to take the FAR section first. I am going to try to keep an eye out on this forum because I am sure threads like these are going to help me pass the test.

    #324133
    Anonymous
    Inactive

    I took FAR in October. Felt really confident in the M/C…it went from medium, to difficult, to difficult. I spent way too much time on the second and third testlet that I only gave myself an hour for the simulations. I thought the simulations were going to be similiar to Becker but they weren't. I prepared the journal entries, filled out the presentation format of the exam but ran out of time to do any sort of calculations. I thought if I at least prepared the journal entries and stuff like that I would get partial credit or something. I failed. I'm taking it again in April. I think it's better to risk getting some wrong in the multiple choice but still give enough time for the simulations than to not finish the simulations. Time is a killer for FAR. Best of luck to you!!! I hope you passed! It's been miserable studying for that exam.

    #324134
    Anonymous
    Inactive

    @cyn637, Thanks, I am sure this time you will do great, good luck !

Viewing 12 replies - 1 through 12 (of 12 total)
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