[AdamK127]

Unfortunately, I was not successful in passing the FAR exam on my first attempt. I was totally surprised by the TBS section, it seemed like it was unlike the format that I have studied. I have just reapplied to take the exam, so now I am trying to formulate a plan to move forward and pass FAR. I believe one of the main problems is that I did not get myself a large amount of time to review everything.

Any tips, advice, words of encouragement?

Thanks everyone!

FAR---52, **Currently Reapplied, getting ready to tackle again**
AUD---TBD
REG---TBD
BEC---TBD

[CPA2BEE]

FAR was my first exam too, and I failed it the first time. I recommend starting from scratch and going through all of your study materials again. Reread the book, take new notes, do all the HW again, etc. You gotta try to forget about not passing and come back at it with new energy. You'll be amazed at how much more knowledge you pick up when starting all over, and you'll become a lot more comfortable with the material. Don't worry about the past and just stay focused, you can do it!

FAR - 80
AUD - 82
BEC - 80
REG - 85

ETHICS - 90
EXPERIENCE - COMPLETE
Application for California license mailed 8/4/2016

[tpeters321]

I've failed FAR twice and I am currently restudying for it. First off we can do it. It's a test of discipline not necessarily smarts. That being said discipline yourself to study. This has been my biggest challenges and is something I am currently working on. Schedule time in the day to study and stick with it. Your brain remember more when you have a consistent schedule. I don't know how many hours you study per week but I would suggest 30-40. Studying is honestly a full time job. You can do it!

FAR: 63, 73
AUD: October 2016
REG: August 2016
BEC: 74 (Ugh!)

[Track55]

I did over 220 hours for FAR. And that's not counting the first time I failed.

AUD - 74, 99 !!
REG - 74, 92
BEC - 83
FAR - 73, 86

Studying for Ethics exam

California candidate
Business and Industry

[Willpower]

Far is long and tedious. I was able to pass on the first trial but I studied over 2 months. What helped me the most was repetition and each time learn something. I used flashcards to write down important points. Also, I wouldn't go crazy trying to understand everything but I would try to know everything at high level. I hope this helps. Good luck!!!

Passed 4 parts

[Amortized and Energized]

Same thing happened to me. I didn't have time to study for Non-Profit and Governmental and went in there hoping for the best. Second time around I just kept doing progress tests for all the sections and really drilled in on the simulations.

I skipped a lot of becker lectures the first time around too, but the second time I re-watched all of them.

FAR - Aug 2015 (58), Feb 2016 (81)
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BEC - May 2016 (79)
AUD - Jul 2016
REG - Aug 2016

[CISNC]

I never studied any of the SIMS for any sections I passed. It's my personal belief that it's useless to study it because if you know the material, the format of SIMS does not matter. You just have to be comfortable enough to be able to make correct JEs.

From my previous post regarding NPF:

Statement of Activities = Income Statement
Statement of Financial Position = Balance Sheet
Statement of Cash Flows
Equity = Net Assets

Net Assets has 3 categories:

Unrestricted (URNA) – Donor imposes no restrictions
Board designated – This is not a true restriction and is still classified as Unrestricted on the SOFP, although they can present it separately under Unstricted (DO NOT LET THE MCQs trip you up on this, it is easy points)
Temporarily Restricted (TRNA) – Donor can impose two restrictions under time (ex: you can spend this next year) and purpose (ex: you can only spend it for your conference).
Permanently Restricted (PRNA) – If a donor donates an investment or some kind of asset and you can only use the earning from the asset. You can only get the perm. restriction taken off directly from the donor or the donor's agent (usually if the donor passed away)
Expenses – Expenses are only taken from URNA. It never gets expensed from TRNA. If the MCQ asks you what would happen if the temporarily restriction was fulfilled and expensed, it'll decrease URNA because the funds would be released from TRNA to URNA

Statement of functional expenses – only volunteer welfare orgs have to prepare.

Understanding these points literally will cover about 90% of all NPF related MCQs.

FAR - Pass
AUD - Pass
BEC - Pass
REG - September

[Anonymous]

I can't say my SIM practice is ever wasted. Sometimes it gives me a better grasp of what I don't know; sometimes it just improves my ability to approach a certain type of question.

[Author]

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