Morgan’s Top Tips to Prepare You for the FP&A Exam (Part 2): Exam Time
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The day and night before...
Don’t leave any surprises for exam day. Make sure you know where your test center is at least the day before by looking up on Google maps or even driving over to locate it in person.
Having studied hard so far, your last night is not the time for last minute, late night revision. It’s the time to relax and get a good night’s sleep so you wake up fresh on exam day.
On the day...
Time it right
Plan to leave for the testing center with some time to spare. Don’t get caught out by bad traffic or delays!
There are a number of items not allowed inside the testing center, including programmable calculators, phones, smartphones, and PDAs.
Inside the exam...
First things first
After you get inside the testing room, you have three minutes in which to agree to the onscreen non-disclosure agreement (NDA). Do it as soon as you can. If you miss the three minutes deadline, you will not only lose the opportunity to take the exam in this window, you’ll have to pay a re-examination registration fee before taking it in the next window.
Anything you’re not sure about? Now’s the time to ask the testing center administrator before the test begins.
Use your White Board
You’ll be given a white board before the test begins that you can use this for scratch calculations as you go. It’s also handy for jotting down at the beginning of the test any difficult-to-remember formulas that you don’t want to forget.
& Use your Spreadsheet
Your testing computer also contains an on-screen spreadsheet. This is another handy tool for writing down any scratch calculations.
Don’t skim over anything as if you go too fast you might make mistakes.
Don’t delve into your work experience for your answers: stay focused on your knowledge of professional standards you learned in the course.
Don’t Look Around
Stress can be contagious so don’t check what the other test-takers look like: stay focused on yourself.
First is Best
Tempted to change your answer? Only do so if you’re absolutely positive the new one is an improvement.
Take it Easy
Target the easy to solve questions first, and mark the difficult ones to come back to later.
Give it a Go
There is no penalty for incorrect answers, so if in doubt, have a guess. You have nothing to lose!
All things equal
Each question, regardless of its level of difficulty, carries the same number of points, so try to give the same amount of attention to each question.
Get practicing now with sample FP&A test questions.