Simple Exam Tips

AN OLD joke on passing CA examinations goes like this:

There was a writing in a church that read, "Jesus never fails". A CA student added below that, "Then let him try the CA examination"!

Passing the CA exam is not as difficult as it is made out to be. Several students clear it in the first attempt and even secure ranks. Why, then, are others unable to crack it? The reasons are several.

Every student knows the importance of studying. However at times studying can be tedious and boring. Studying is not usually a favorite past time of most students, although there are those who enjoy it. It is however a necessary part of academic life whether you are in elementary school, high school or university. Studying is the key to success. Every student knows this but with all the enticements and entertainment available studying can easily fall by the wayside and for most of us that means failure. Studying is therefore something that students must find the discipline to do.

Whether to go for one or both groups

The very first step for exam is to decide, whether to go for one or both the groups together. I mean, I think its on every individual to think wisely and not just intellectually or so called “PRACTICALLY”. Whether you are a poor student, an average student, or a good student, you can become a better student.

At present you may believe that the more time you spent and the harder you study the better student you will become. It is not so because the most important thing is to use effective study skills.

Every CA Student remains in a dilemma as to whether to appear for one Group or both the group.

It is only a matter of mental decision. When people have little work to do they stretch it out to fill up the large amount of time at their disposal? Thus it’s always better to appear for both groups.

Do you make most of your time? If you would introspect yourself honestly certainly the answer would be” No”. Therefore get maximum time out of all the time you invest in studying. The real art in studying is to achieve a great deal in a short span of time. Give yourself the deadlines for each task and do your best to stick to it.

And if someone asks me that how much time should be given to one group or both groups. Then I would say that for PCE, even 2.5-3 months are more than enough to get clear and secure desired marks. While for FINALS, both group require utmost 3.5 months for an average student (who hardly exists in FINALS, all are converted in above average student).

PREPARING FOR EXAMS

As such, how difficult CA is or say what is the level of studies here, everyone knows, so don’t want to discuss about the level of sincerity requires one. Its expected from every student that he should dedicate his time to studies atleast in exam time. What we do during our academic career at tuition classes or in colleges or in institutions is tested at exams, it is the time when everyone can do his/her best, not to prove anyone else but to himself/herself.

So, lets start with the same

Medium of instruction

Those who study in regional-medium schools, often complaint that they face a lot of difficulty in comprehending the subject. While I consider it as a bull-sh*tt. Sorry, but the rankers at 10^th or 12^th or any colleges or even in CA are these students only. Its their desire to study without any complaints and regrets. If a bunch of such students can do, why can’t all?

I know, there can be difficulties in understanding few concepts, but it should never be because of language problem. If one argues that he/she didn’t get some topic or some point due to negligence towards the topic or difficulty of topic, that is valid. But not understanding the concept merely on the basis of language problem, should not happen.

Though ICAI provides facility of writing paper in HINDI, but I would suggest everyone to write it in ENGLISH only. If you won’t do this time, you will never get diverted to this global language.

[No offences towards our national language HINDI, I love the language and proud to communicate in Hindi]

Exposure

Another factor is the exposure to the business world, terminologies, and so on. Students from rural and semi-urban areas face difficulty in understanding the subject due to inadequate exposure. Another drawback could be the lack of access to reading material, non-availability of textbooks, Internet facilities, so on. While these students are sincere, they may lack the right guidance. Students can overcome the fear of the examination by following a regular and systematic study routine.

Moreover, they should try to use internet (now that is possible in every village) and get books downloaded, printed or get the same through any other such source.

General study

If possible then start preparing for the examination immediately on joining the course. Study regularly and conscientiously. It does not matter how many hours you study, but how much you understand. Qualitative study is important.

Keep track of the latest updates in all the subjects: accounting standards (new standards, revision of old ones, interpretations, etc.) auditing and assurance standards, amendments to company law and other laws, Finance Act and Income-Tax law. Contribute and subscribe to a good business newspaper. Essays on capital markets, tax matters and other subjects will be helpful.

Study material

Your study material is the most important. Supplement it with a good reference book. A good student does not require tuition. Tuitions certainly are helpful, but only when you have it in you to use them.

For a professional, self-study and getting to the root of the subject is essential. And for any difficulties, this site is always going to be there. The members here are most co-operative people I’ve ever seen in my life.

Strategies

Follow a strategy of study. Remember, you cannot study accounts independent of company law. Income-tax cannot be studied independent of accounting. Thus, these subjects are inter-related. You have to study all the subjects for the examination. Take, for example, the issue of shares by a company. Read provisions of company law from S. 55 onwards prospectus, contents, liabilities for misstatements, and so on till S.108. You would have grasped the legal requirements. Then work out problems in accounting on issue of shares at par, premium, discount, for consideration in other than cash, etc. Follow it up with audit of issue of share capital, resolutions to be passed, documents to verify, and so on. [This will surely save your time to the optimum].

Study the tax provisions for allowability of share issue expenses, etc. Thus, you would have covered the issue from all points of view. This may look cumbersome in the beginning, but once you get used to it, things become interesting. This way you will have covered a part of company law, a part of income-tax, part of auditing, as well as a part of accounting.

Other activities

Each of us has hobbies. Spare some time for that. This will help you unwind. It increases productivity. Develop certain hobbies and pursue them. A light game, for instance, a crossword puzzle. At the same time, know when to stop. Get your priorities right. A student should be physically fit, spiritually sound and mentally alert. Also, spare some time for fitness. You should be strong enough to withstand the stress and strain of hard work. Endurance is important.

The final charge

Generally, the pressure valve is turned on only after the candidate pays the examination fees. There is a lot anxiety, nervousness, and tension. If a candidate is well prepared, last minute blues can be avoided. The candidates should learn how to tackle each subject and perform accordingly. One should know which accounts need to be opened and how to reach the goal in the shortest possible route and quickly. Saying that you should pass 36 journal entries for amalgamation, 16 entries for issue of shares, etc., is unjustified. You should learn to play according to the wicket. Passing the CA examination should become a routine, much like other examinations.

Oh and yes one important thing, forgot to include above. :

Scoring 90 per cent in one and 10 per cent in another, will lead you nowhere. Distribute time judiciously for all subjects.

DAY OF EXAMINATION

Dear friends, I’ve found, often students complain that they don’t understand why they got less marks or why they failed. And at the end, they put blame on ICAI’s checking pattern or start compromising with their current situation. They don’t try to find out their drawbacks or some measures that can help them.

Here are few points which I think everyone should consider on the day before as well as on the DAY OF EXAMINATION.

1.      Don’t learn or read anything new on the day before the day of exam. All you should do is to revise what you have already done.

Ø      Usually, some students have tendency to learn certain points or some important topics on the day before the day of exam. They consider that by doing this, they could easily recall such topics on exam day, which is converse. All we learn during our normal leave period is stored in our sub-conscious mind and that helps us on our exam day. But, the new topics we take on a day before exam-day are hard to remember, coz we just cram them and not understand.

Ø      So, on just the day before exam, every student should try to revise as many things as he/she can do. Moreover, focus should be made on important topics initially and then shift to minor topics or else there will be shortage of time, due to which remaining important topics will be left unrevised.

2.      On the day of examination do that question first, which you know the best. This will lead a good impression on the mind of the person who will check your copies and as well boost your importance.

Ø     
As such, many of us start with Question 1 always, I myself used to do the same. But still, I think it’s important that one should start with the Question which he/she is utmost confident. Reason is very simple, I mean, apart from impressing the examiner, it definitely helps in boosting the confidence of student.

Ø      Various students, when they fail to attain their question 1 properly, perform bad in other questions too (though other questions may be easy). So, this is something which makes a student nervous and lets him down.

Ø      Every student should spent 30-40 seconds to go through question paper first, then decide which question he can attain best, start with the same and take as much time as he/she can. Thereafter, speed up for rest of the questions.

3.      Always begin answer to any question with one or two summary sentences.

Ø      This is something, students don’t do in hurry. Dear members and fellow students, look examiner is a person and he does expects something extra then just getting a bookish answer. Presentation or decorating the answer or even underlining few important words is not as important as giving introduction or writing ending note.

Ø      What is asked is definitely important, but more than that, a student should understand what is to be answered and how much to be answered.

Ø      In various case studies asked in exams, students just discuss the case studies asked. The never mention any case law related, or any topic related to that case study. I really don’t understand why this happens. Why students remain stick to the content? I know in exams, especially CA exams, time is less and ICAI itself asks u to give answer only & only related to question. But does that mean you should start haphazardly and end it in the same manner.

Ø      You need to give little introduction as well ending note like conclusion, or the solution.

4.      Try to attempt all questions. [Not for CPT students of course]

Ø      Another aspect that I discussed with everyone, I don’t know why, students simply leave the question which they don’t know what to answer. There are no negative marks dear friends. And as I said, whichever question you don’t know, do it at the end, initially start with the question which you think you can answer the best. But don’t leave any question in exam.

Ø      My practical example, I hereby want to share, mine was JUNE 09 attempt. I literally did not study anything in audit, I could not do that subject thoroughly. I was sure that I’m going to get duck in that subject, but though I attempted that paper. To everyone’s surprise, paper didn’t consist any direct question, only the case studies were asked in complete paper. I attained the entire question, though didn’t study any case study before or not having that practical knowledge. I attained all the questions to my best level. I got highest in that subject only, 67.

Ø      If I would have left the paper or some questions, like many of my friends did, I would have failed or have got lesser marks.

Ø      So, whatsoever happens, don’t think that you don’t know anything about the question or you cant answer properly or any such weird feeling. Just attain the question as if you know everything and will attain it according to your own understanding.

5.   Write legibly & big so that it is clearly visible from distance.

Ø      ICAI charges us exam fees, it won’t demand another money if we fill one or more extra supplements. So, be free to write bigger and use as much space as you require. There is no harm in that.

6. After the exam do not discuss the paper with any body. What has  happened has happened it cannot be changed. Discussion will only spoil your other papers.

Ø      I think, this is a human tendency to do. Every student, after completing the paper wants to know how his/her friend attempted the paper. I mean, c’mon guys, what difference that is going to make. If you think that you have done best and someone else has not, then also, its fine. But what if the situation is converse and you have come to know the same after you attained the paper?

Ø      Various students discuss their papers with their friends and have felt worst consequences. What is the need to discuss the paper? Once you come to know that you have done something wrong in your answers, that will hinder you all the day and will not let you concentrate on preparations for next exam. What is the logic behind spoiling your own mood and spoiling your further exams too?

Ø      I think, once you finished your paper, you should never discuss regarding your exams that you already appeared but for the one which is about to come. Atleast that will help you in revising or not generating more & more pressure in your mind.

7. Once all your exams are over, you should make a note of all the mistakes and drawbacks for future reference. Look them before the next exams.

Ø      Yes, this is something that every student should follow. Once your exams are over, spend some time to go through all the papers and decide what mistakes have you made in those exams. That will help you to estimate what are the possible chances of you getting pass and if at all you’ll fail, what will be the areas that you now need to concentrate.

Ø      I’m now in CA FINAL, though I feel that there were many areas in PCC that I overlooked, though I cleared, but still I could have performed well.

Ø      For e.g., was the time allocation while preparing for any topic or subject proper, strategies followed were correct or not, the books you referred were enough or was their any possibility to get best than what you have done, etc.

Ø      You should make a note of all this, and should follow and rectify your mistakes that you committed earlier.

Here it is

Thanks brother

Ur welcom Khalid

thanx bro. 

you are doing a fabulous job

Agreed with rohit