04-12-2021, 01:13 PM
I passed with a 62 today on my second attempt!
You really have to give this test the time and respect it requires to pass.
I probably studied on and off (including the initial 2 weeks) for 8 weeks to pass this.
On my first attempt I only scored a 43. I used Modern States to get the CLEP voucher and did all the work they recommended, however, I did not find that Modern States completely prepared me for the exam.
I recommend:
Lots of debit and credit questions, which accounts go up with debit or down with credit
calculating interest payable on notes and assigning it to correct accounts
know your GAAP, a few questions on what principle applies here
so many COGS questions
ratios: gross margin and debt to equity
lots of cash flow, know the difference between direct and indirect and how NI is calculated
Good Luck!
You really have to give this test the time and respect it requires to pass.
I probably studied on and off (including the initial 2 weeks) for 8 weeks to pass this.
On my first attempt I only scored a 43. I used Modern States to get the CLEP voucher and did all the work they recommended, however, I did not find that Modern States completely prepared me for the exam.
I recommend:
- using Modern States for the voucher, and the lessons provided
- use InstantCert and really master your flashcards
- Matt Fishers videos on YouTube were very helpful for me: https://www.youtube.com/user/mattfisher64/featured
- I also took the three Peterson's exam, they're much harder than the CLEP and help to prepare you
Lots of debit and credit questions, which accounts go up with debit or down with credit
calculating interest payable on notes and assigning it to correct accounts
know your GAAP, a few questions on what principle applies here
so many COGS questions
ratios: gross margin and debt to equity
lots of cash flow, know the difference between direct and indirect and how NI is calculated
Good Luck!