teeteenounouche – I'm not sure what you're asking since you mentioned both notes and bonds. Without more specific examples I can't tell you much more than:
For a bond problem, face value is basically used for 3 things: 1) initial credit to bonds payable when recording the transaction 2) calculation of interest payments (not to be confused with interest expense which uses amortized cost carrying value) 3) calculation of bond selling price.
For a note problem, face value is used to calculate the maturity value. The maturity value represents the total cash received over the life of the note, or when the note is due. Therefore, questions asking about total payments relate to maturity value. Maturity value is always used when discounting a note, per my explanation above.
For bonds and notes, maturity value = face value for a zero interest bearing note/bond.
NJPRU – Thanks!! I just used Becker. I did 2 chapters a week, watched the lecture, read the chapter, did all MCQ's and marked the questions I got wrong, or thought would be good to look at during my review. For questions I got wrong, I always read all explanations and went back in the book to make sure I understood why I got it wrong. Then I did all the SIMs with similar technique. On Sundays of each week, I would take a couple 90 question progress tests (time limit 90 minutes) to simulate a few sets of 3 exam testlets, marking topics for review like I did with the homework MCQ's. I didn't do anything else on Sundays so I could recharge and be ready to start the next week of material.
My 2 review weeks were broken down into 3 segments. I did all the MCQ's from 2 chapters a day for 5 days, then took Final Exam I. I reviewed my weak areas for each chapter, this time only doing questions specifically marked, taking Final Exam II at the end. After that I only had a few areas to review so I kept practicing 30 question “testlets” (30 minute time limit) until the actual exam.
My strategy for SIMs was to crush the MCQ's. I always practiced so that I was able to maintain an average of 1 minute or less per MCQ (I realize this might be difficult for some people, but it worked very well for me). That gave me about 2.5 hours for the SIMs. I also practiced using the Codification on the Becker SIMs to find the answers to NON-research questions. On my actual exam, I know I got almost every point on the SIMs because I was able to check every SIM in the Codification. For reference, I ended my exam with 70 minutes left, so it's possible to do this using less than 2.5 hours for SIMs, you just need to be efficient when using and applying the Codification.
FAR 97
REG 91
AUD 5/30/14
BEC 7/11/14
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