Posted: 17 Aug 2008 at 10:22 | IP Logged
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Here's what I learned using Wiley:
First, that b[east] is hard as all get out (the review, not the exam), so if you're getting at least 70% of the MCQs correct, you're doing all right. There may be an area or two in each module you may need to brush up on, but you're definately on the right track.
You have to be know the concepts comfortably and naturally. FAR is one section where rote memorization and being pressured to know the material in order to pass isn't going to cut it. One thing I would recommend is not to register to schedule the exam until you reach this point. That six month window is going to fly by and either you'll wind up not scheduling for a section(s) or you take it knowing you won't pass.
When you make a MCQ selection, you must know why you selected it. It does you a disservice to try to luck up on a correct guess, though certain curveball question does understandably justify guessing (just hope those curveballs are all pre-test (ungraded) questions on the actual exam).
Personally I think the Wiley questions tend to be worded in such a way as to intentionally trip you up. I particulary hate those insanely obscurely worded questions that I call "Oswald Bates questions". Those I will guess on in a heartbeat and move on. My standpoint is, if my passing or failing hinges on one of those type of questions, then it says more about the AICPA's ability to needlessly confuse the hell outta me than my accounting ability to protect the public ever could.
Some of the questions kinda forces you to read into what is given to get the correct answer because the data given has insufficient information. Those are "dangerous" questions in that it forces CPAs to make assumptions that may or may not be the case. But I'm digressing big time.
Bottom line, on Wiley, shoot for 70% MCQs, do the sims, have a comfortable working knowledge (when you have this, it's much harder for your brain to atrophy the material) of the section, and you will pass the exam. If Wiley is harder than the exam itself and you're knocking out the modules, you'll have the wind at your back at exam time. Guaranteed.
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