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elfrabbit Wrote:For the Uexcel practice exams, you do get to review and see the correct answer. I don't remember if they provide explanations though. They do tell you what topic the question belongs to, so you can go back and review that topic's section in the book and see what you missed.
The Uexcel is pretty straightforward; reading the book,taking the practice exams, and doing the online companion activities should be sufficient enough to pass. But keep in mind Straighterline is a cheaper option ($150) compared to the Uexcel once you add all costs together. So you do have a back up option if you don't want to take the all or nothing exam. Then again, I've never taken the Straighterline course so I'm not sure how it compares.
Okay, cool, sounds good. I'm not entirely worried about having a back-up because I've been passing all my DSSTs and CLEPs by very very comfortable margins, and all but one of them I had zero previous experience with. Nonetheless, SL will be my back-up option and would probably be easy as hell if I didn't pass the Uexcel. I won't fixate on that too much, though.
laughter Wrote:Yes, you may review the UExcel PTs after completing them. Explanations are provided, too.
Thanks for clarifying!
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To topdog98 and elfrabbit, is a knowledge of calculating present value via formula required (e.g., Present Value = Future Value / [ (1 + interest) ^ number of periods] )? Or will a present value factor table be included (e.g., Present Value = Future Value X Present Value Factor)?
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mpie18 Wrote:To topdog98 and elfrabbit, is a knowledge of calculating present value via formula required (e.g., Present Value = Future Value / [ (1 + interest) ^ number of periods] )? Or will a present value factor table be included (e.g., Present Value = Future Value X Present Value Factor)?
Present value/future value is more of a finance topic so it probably wont have much emphasis on the exam. I just followed the content guide and treated it like the other formulas - memorized it, the reason it's used and how, and by whom. Even if they provide the chart it's best you know the formula.
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elfrabbit Wrote:Present value/future value is more of a finance topic so it probably wont have much emphasis on the exam. I just followed the content guide and treated it like the other formulas - memorized it, the reason it's used and how, and by whom. Even if they provide the chart it's best you know the formula.
Thank you! Another question, if I may... I've searched high and low for this but couldn't find the answer. What is the required score to pass a Uexcel? Also, will a on-screen calculator be provided?
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Scheduled to take the Uexcel tomorrow.. I got an 85 and 90 on my two official practice exams, so I'm going to do some last minute reviewing and just get it over with tomorrow!!!
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Good luck! You're going to do awesome!
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Passed with flying colors!
As others have echoed, all you really need to do is follow the content guide from Uexcel, study the recommended text accordingly, and use the official practice exams. The material is dry and boring, but I got the highest possible grade score by only following the guide, studying the text, reviewing/practicing for 3-5 hours per day for 11 days. I didn;t count my first few days of study BTW because I was using accountingcoach.com, which would not be useful in preparing for this exam.
Anyway, I didn't necessarily read the text, but I used the online companion materials from the textbook's publisher which included narrated slides and practice quizzes. The narrated slides were like a lecture for each chapter. The text was useful for referencing, however.
If anyone wants a link for the online companion stuff for the text, feel free to PM me.
I highly recommend taking CLEP financial accounting and Uexcel managerial accounting if Straighterline is not an attractive option to you.
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Congratulations! Also, thanks for posting your experience. It's good to know what the exam is like.
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studymom Wrote:Congratulations! Also, thanks for posting your experience. It's good to know what the exam is like.
Thank you! Also, instead of having people PM me, here is the link for the online companion site. It appears to be free for textbook that is one edition behind - however, the content between this one and the current edition is the same.
Managerial Accounting: An Overview
I used the narrated slides and the chapter quizzes, with the textbook as reference. Although I do not condone pirating and theft, there is indeed a PDF download somewhere online for the 14th edition of the textbook (the previous edition that I studied).
I hope this was helpful to anyone considering taking managerial accounting.
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QUESTION: If my school's website and academic catalog say I get 6 credit hours for accounting CLEP, will I still get that amount even though everyone is saying it is now only worth 3 credit hours? I sent in my request form to get the CLEP credit to the registrar's office and they approved it and emailed saying I had to make a 50 to get 6 credit hours... Do they now have to give me the 6 since they said that and I have it in writing?
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