Originally Posted by hunter2115
You will need to learn the formulas, especially the various ratio formulas. But remember that this isn't a MATH exam. If you know the formulas, the actual numbers they give you will make the solutions very easy to compute.
More important than knowing the formulas, is the need to know the concepts BEHIND the formulas (what does the formula calculate, how, and why).
I used my trusty Texas Instruments BAII+ calculator to take care of all the PV/FV/Breakeven/Interest calculation questions. So, knowing how to use my calculator allowed me to focus on memorizing the ratios and learning the concepts.
Without a good financial calculator, this exam would have been much more difficult for me.
PLEASE, if you haven't done so already, get yourself a financial calculator and learn how to use it. It will make this exam much more manageable.
Other than the calculator questions, the rest of the exam is all about knowing the CONCEPTS and memorizing the major ratio formulas.
Hope that helps,
My name is Rob
Exams/Courses Passed (43):
- Courses (4): 1 Excelsior, 1 CSU-Pueblo, 2 Penn Foster.
- Exams (39): 24 DSST, 15 CLEP.
Total Credits: 142 (12 not used).