FAR Study Group July August 2017 - Page 3

Viewing 15 replies - 31 through 45 (of 1,059 total)
  • Author
    Replies
  • #1563774
    CPAIN2K17
    Participant

    I hate pensions.

    #1563781
    Jj
    Participant

    I love pensions.

    #1563784
    CPAIN2K17
    Participant

    I hate amortization tables.

    #1563795
    Jj
    Participant

    I love amortization tables.

    #1563856
    Cruzer
    Participant

    I hate encumbrances.

    #1563859
    Jj
    Participant

    I love encumbrances.

    #1563865
    richsimms
    Participant

    I hate leases.

    #1563921
    CoachEmUp
    Participant

    I love leases.

    #1563924
    Anonymous
    Inactive

    Hi All – I had a to take one day to gather my thoughts on my experience taking FAR in on 05/31. The following is the countdown of time remaining by part and my overall thought/feeling.

    Testlet #1 – (03:15) Found questions to be in line with what Becker provided – feeling good on these, had to guess on 1.

    Testlet #2 – (02:20) Found questions to be more difficult then in testlet #1, more over seem to have more calculations – since I was running 10 mins late had to guess on 2

    Testlet #3 – (01:40) Got a bit discouraged but hammered through with a couple of guesses

    – Took the standardized break – Definitely came in handy for a quick bathroom run and a sip of water

    Testlet #4 (00:50) 3 simulations of which comprise the research (which I pray I got correct), 1 DRS

    Testlet #5 (00:00) 3 simulations

    Overall Comments:
    I can't stress enough that time management is KEY. Like others have stated, there is no way to fully complete these simulations in the time frame provided due to all the documents you have to read/review.

    Any who.. just venting/sharing my thoughts.

    #1563925
    CPAIN2K17
    Participant

    Who's Lisa?

    #1563933
    Wannafree
    Participant

    Just copied from some old post of some blog,I am not alone and this new format is actually not new.LOL

    My FAR experience was a disaster, or so I thought. When I left the testing center, leaving 1 sim with all 0's because I ran out of time, I wanted to crawl in a hole and cry. We study for 2-3 months, 15 – 20 hours a week, and get 1 shot to pass. I tried to remain calm and keep my confidence but at the end of my first testlet I was @ 52 minutes in. What?! Where did the time go, ok so I went quicker on the 2nd and 3rd testlet, getting them done in 38 and 45 minutes, which left me with 1 hour and 45 minutes for my sims. I always do the research question first since I know the codifications good and generally find them pretty fast, but this time I spent 30 minutes looking and still didn't find the answer. So 1 hour and 15 minutes left to do 7 sims! Ugh! I got through 5 simulations with 15 minutes left, put 0's on the last one, and went back to the research which I found 13 minutes later. How could I get an industry specific research question when it was not a FAR topic?

    MCQ's. I kept track of all the questions that I KNEW I got right and that added up to 27. I didn't want to count the calculation questions into this just because when I am rushed I make calculation errors, so I didn't include them. Only a few questions that I had no idea where they came from, assuming pretest questions or else I missed something in my study's. I skipped calculation questions until the end on the 2nd and 3rd testlet and I think that sped up my time.

    Testlets – Questions I knew I got right per testlet
    1 – 10 correct
    2 – 7 correct <– Pretty sure it was hard level
    3 – 10 correct <— Some weird questions

    Knowing how many I had correct gave me confidence throughout the exam. That is until I got to the simulations.

    Simulations – BRUTAL – ALL of them were extremely tough, except one. Even though that one wasn't tough I knew it would be time consuming with a ton of calculations and then journal entries to record it. Since I was running out of time, I didn't have time to re-calculate my answers so my confidence level was pretty low.

    Looking back, I know within 90% accuracy that I got 3 of the simulations correct. The other 3 are up in the air, I am hoping for partial credit. If I had another 30 minutes I could have recalculated the other 3 and made sure I got them right and finished the one I didn't have time to complete. Praying that the one I left with 0's is the pretest simulation.

    It's done and behind me now, so I am forgetting it and moving onto my audit studies.

    #1563939
    Anthony
    Participant

    @WannaFree I wonder if we had the same research sim. Yes it was a industry specify research question..but when I first looked at it, it didn't seem like it. Luckily I got it right after wasting like 30 minutes and just when I was able to give up..boom found it.

    #1563988
    jeff
    Keymaster

    Ok – so, I have at least 10 posts in this study group to edit for exam disclosure.

    Two strikes and you're out – which is one more than the AICPA (who monitors this board like a hawk).

    Jeff Elliott, CPA (KS) | Another71 | NINJA CPA | NINJA CMA | NINJA CPE

    #1564017
    Wannafree
    Participant

    Hi Jeff
    Have you seen these types of reactions when last time exam changed ? If yes ,did AICPA considered those inputs ?

    #1564024
    Kera Franklin
    Participant

    Hi everyone! I am taking the exam in July. I tested in December '16 and got a 74 🙁 I am using Rogers CPA review and the Ninja MCQ's

Viewing 15 replies - 31 through 45 (of 1,059 total)
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