After taking an exam, students frequently ask if they should start studying for the next part right away, or if they need to wait for their results first. If you feel that you did well on the exam, I suggest that you should start studying the next part, and here’s why:

  • Even if you do not pass, you will not have a lot to re-study, so you would be able to re-study while you continue studying for the next Part.
  • Once you have studied for an exam, you are the habit of studying. If you take more than a week or two off, it will be harder to start studying again later than if you just continue studying without a long gap.
  • You will need to take all of the Parts eventually, so there is nothing to gain by waiting.

If you leave the exam knowing that you failed or did poorly, then I recommend you take a short break (no longer than a week) and start preparing to re-take that same Part, and then you should retake that same Part as soon as possible.

During your break, you should also think about your study materials and try to determine if your study materials contributed to your poor results. If there were questions on the exam that you did not think that the material covered, or covered poorly, then you might want to consider looking into other study materials for your second attempt.

If you determine that you need some additional materials, here are some things to keep in mind:

  • Most of the question banks are going to be very similar among all of the providers because all providers should be using the same previously released exam questions as the basis for their question bank. Therefore, you normally should not purchase a second question bank.
  • If you have a textbook from one company, it might be a better investment to purchase videos from another company instead of a second textbook. If the videos cover the entire syllabus (like the HOCK Videos do), the Videos will not only provide a different approach to some of the topics but also provide a different style of learning, which may be useful.
  • If you decide to purchase HOCK materials as additional materials, be certain to take advantage of our “Switch to Hock” Discount. We know materials are expensive and want to help you when you are purchasing a second set of materials.

The time period after you take the exam and before you get your results is a period of anxiety. But, you can use this time wisely by preparing to either take the next exam or prepare to retake the exam that you just took. Whether it is the same exam or the next exam, we are confident that HOCK can help you pass the exam. Learn more about our CMA, CIA, and CPA exam materials and start studying today!

Brian Hock, CMA, CIA

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When we talk about professional certification exams, we generally think of people with jobs taking the exams to advance their career and increase their earnings potential. However, if you are a university student in accounting or finance, you should seriously consider taking a relevant certification exam while you are still a student.

If you would like to be an internal auditor, you should take the Certified Internal Auditor Exams (3 exams). If you would like to work in management accounting or finance, you should take the Certified Management Accountant Exams (2 exams). If you would like to go into auditing, you should take CPA or ACCA (or other similar certification), depending on the required certification for auditors where you live.

No matter which exams you take, there are three reasons that you should start your Certification while you are still at university:

  1. You save money. Registering for the exams is cheaper if you do so as a student. For example, the costs of taking the 2 CMA Exams as a professional is $1,325, but the cost of taking them as a student is only $849. Additionally, some of the certifications have scholarships for students that make the registration for the exams free. You should contact the local Chapter of the organization that gives the certificate and ask if there are any student scholarships available for you.
  2. It is easier to study. While you are a student, you probably have studied many of the topics on the exams in your classes. This means that your studying for the exams is more of a review of these topics, and you can prepare more quickly while everything is fresh in your mind.
  3. It will help you get a job. It is a very competitive market for graduates in accounting and finance, and anything that you can do to differentiate yourself will help you get a better job and/or the job that you really want. By taking the exams (even if you have not passed them all yet) you are showing a prospective employer that you are serious about your profession and that you are also making a positive distinction between yourself and everyone else who graduated but did not take any exams.

We welcome any students (or professionals) with questions to contact us and we will be glad to discuss certifications and how to prepare to pass the exams. The sooner you start your professional exams, the sooner you will benefit from them.

If you are a university student, send us a copy of your unexpired student ID at support@hockinternational.com to get the 35% discount.

Brian Hock, CMA, CIA

 

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CMA Exam Time Management on Essays and Problems

The written essays and problems on the CMA Exams are a source of anxiety for many candidates, but having proper time management strategies will help reduce your stress level and earn the most points possible on these questions.

Candidates usually have one of two problems when writing answers on the essays or problems:

  1. You know the topic of the question very well, and don’t have time to write everything that you know.
  2. The question requires a lot of calculations (for example,  preparing a financial statement), and you need more time to finish it and make your answer perfect.

The solution to both of these problems is budgeting your time. When you get to the essay or problem portion of the exam, briefly scan through all of the questions so that you know what is required, and then roughly allocate your time for each question. This will ensure that you do write something for each question. It is critical that you have some time for each part of each question because, unlike multiple-choice questions, you cannot just quickly guess on the last essay or problem and hope to get it correct. Earning zero points on just a couple of tasks will significantly reduce your chance of passing the exam.

Your budget will also keep you moving through the essays so that you do not spend too much time writing everything you know about a topic. There is usually a diminishing return in points with the more time you spend on a question. If you spend 20 minutes on a question that has 20 available points, it is likely that you will get 10 of those 20 points in the first 5 minutes. In the next 5 minutes, you might get 6 more points. In the last 10 minutes, you are working for only 4 more points. If you exceed the twenty minutes, you may get an extra 1 or 2 points, but with that extra time, you could have earned 8-10 points by answering the next question and getting the easy points in that essay or problem.

To give an example, let’s say that a question requires preparing a short balance sheet and you are very comfortable with your answer, but the balance sheet does not balance. Do not panic! You probably got (for example) 18 of the 20 points with the work that you did and only made a simple math error or transposed two numbers. If you spend 10 minutes trying to balance your balance sheet, you might get those 2 extra points. But, in those same 10 minutes, you could have started another question and earned a substantial portion of the points available on the next question.  Since you have a limited amount of time, you need to be make certain that you get the maximum number of points for each minute that you have available.

By managing your time and sticking to a time budget on the essays or problems, you can be certain to maximize the number of points you earn, which will lead to your passing your CMA Exam.

Brian Hock, CMA, CIA

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4-Post-it-Header

The first thing you usually hear about focused work and studying is “your environment.” However, have any of these ever happened to you:

  • You are in a quiet room with no distractions, and
  • You turn on the background music that is supposed to help you focus, and
  • You turn off your email notifications and set your phone in silent mode, and
  • Your desk is perfectly clean and organized, and 
  • You have materials to study, a brand-new notebook, and a study plan, and
  • You are ready to start studying, but…

… you simply can’t focus. You can’t motivate yourself. You can’t get deep into it. Your brain is jumping from one thought to another. You understand why you are studying. You know that now is the time to start reading the book. But, you simply can’t. All of a sudden, you feel an urge to read an email, to go to the bathroom, to check on your kids, to add an item to your to-do list before you forgot it, to get a glass of water, etc.

Does this sound familiar? Most likely, yes! Everyone has been through this, but the good news is that there is a simple strategy that will help you. It is called the 4 Post-it Notes Strategy.

Here is how it works:

1. The first note is your goal. For example, if your goal is to become certified, write your name with the certification letters after it.

 Example: Sophie Herbert, CMA

2. The second note is your why. Remember what Brian Hock, says: “If you can answer why are you studying, then you are ready to pass your exams, and you will pass your exams.”

Example: I want to become a CMA because I want to make more money and buy my own home.

3. The third note is a “10 minutes” reminder. Brian also says: “The hardest 10 minutes of each study session are the first 10. So, all you need to do to study 1-2 hours is to make yourself study for the first 10 minutes.” Remember, 10 minutes of deep, uninterrupted work is all you need to set yourself up for success. 

Example: The hardest 10 minutes are the first 10 minutes. I can do it!

4. The fourth note is the plan for this study session. You have to write what you are going to study very specifically. When you are writing this note, make a firm decision that you are not going to interrupt or stop your study session until you are finished studying what is on this note. If you finish this topic and would like to study more, you can add another Post-it.

Example: CMA Part 1, Section E. Topic: Internal Control. Pages: 177-201.

This strategy sets you up for success: you are reminding yourself why you are studying, you are visualizing the results, you are making it doable because you need to start with only 10 minutes (and everybody can do anything for 10 minutes!), and you are writing a specific plan. Make the “4 Post-it Notes Strategy” your study ritual. Even if the first three notes do not change, don’t keep them on your desk all of the time. Take them down after you have finished studying and make new ones when you are ready for the next study session. It is an important mental strategy and study ritual that will help you study successfully and pass your exams with confidence!

4-Post-It-Example

Please share this post on social media and send us pictures of your Post-it notes! Let’s help other people find their focus and motivation! 

#4postitnotes #hock

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In this video, get six tips for answering multiple-choice questions on the CMA exams, including how to quickly eliminate answer choices and use clues from the question to determine the correct answer.

For more information about the CMA exam scoring and grading including how many MCQs are not evaluated during the exam (and why) see How is my CMA Exam Score Determined?.

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There is one question that you must be able to answer correctly in order to pass a professional exam. If you can answer this question correctly, you will pass the exam. If you cannot answer this question correctly, it is very unlikely that you will pass. Watch the video to find out the question!

So, before you start preparing for any question that is going to be on the exam, make certain you can first answer the question of why you are studying. Why are you studying?

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In this video, HOCK international President Brian Hock offers some tips about how you can maximize your study time with distraction-free studying. Fewer distractions = more learning and more learning = passing your exams!

Some of the suggestions discussed in the video include:

  • Have all of your materials ready when you start studying.
  • Turn off all of your notifications (phone, email, etc.).
  • Wear earplugs or play soft music.
  • Try studying somewhere other than home or office (try the library!).
  • Try different study times (maybe early morning or later at night).

Learn more about the HOCK study materials for the CMA, CPA, and CIA exams and see how HOCK can help you prepare to pass your exams on your first attempt.

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