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I took the DSST Principles of Finance exam yesterday. I don't have too much to add to what others have already posted about this exam. It was the most difficult exam I have taken but that's mostly because I am not good at memorizing and applying formulas.
After filling out the paperwork I spent approx. 2 hours on the 88 question exam. I used the TI-30Xa calculator and it was able to do everything I needed.
The number one piece of advice I can offer is to make sure you know how to calculate Present Values, Net Present Values, Future Values and Annuities very, very well (with a calculator and from tables). Studying only IC will only get you about half way through this exam. You absolutely must study from other sources to have a chance at passing this exam (see links from other postings for suggested study aids).
I'll try to remember to post again when I get the results back in 3 weeks or so.
Russ
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Dakota Wrote:I took the DSST Principles of Finance exam yesterday. I don't have too much to add to what others have already posted about this exam. It was the most difficult exam I have taken but that's mostly because I am not good at memorizing and applying formulas.
After filling out the paperwork I spent approx. 2 hours on the 88 question exam. I used the TI-30Xa calculator and it was able to do everything I needed.
The number one piece of advice I can offer is to make sure you know how to calculate Present Values, Net Present Values, Future Values and Annuities very, very well (with a calculator and from tables). Studying only IC will only get you about half way through this exam. You absolutely must study from other sources to have a chance at passing this exam (see links from other postings for suggested study aids).
I'll try to remember to post again when I get the results back in 3 weeks or so.
Russ
[SIZE="3"]I "calculate" that you will receive a terrific score - Good Luck!![/SIZE]
ShotoJuku +
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Dakota Wrote:I took the DSST Principles of Finance exam yesterday. I don't have too much to add to what others have already posted about this exam. It was the most difficult exam I have taken but that's mostly because I am not good at memorizing and applying formulas.
After filling out the paperwork I spent approx. 2 hours on the 88 question exam. I used the TI-30Xa calculator and it was able to do everything I needed.
The number one piece of advice I can offer is to make sure you know how to calculate Present Values, Net Present Values, Future Values and Annuities very, very well (with a calculator and from tables). Studying only IC will only get you about half way through this exam. You absolutely must study from other sources to have a chance at passing this exam (see links from other postings for suggested study aids).
I'll try to remember to post again when I get the results back in 3 weeks or so.
Russ
Congratulations Dakota! This is supposed to be a tough exam and it sounds like you were prepared and did well. Thanks for the tips. We'll be waiting to hear with you.
Librevore
Kate
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BS Psychology
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I passed by one point on this exam. I thought this was one of the top three hardest tests of all of them. I studied only Instacert for a week and grilled my dad (a financial advisor). The biggest advice is to echo what was said earlier: know how to calculate future/present values, annuities, etc. Here was my mistake: I printed off the official DSST test description, saw only a small percentage of the test was on actual problems so *skipped* the entire last Instacert section. BIG MISTAKE: that should be your memorized best question!!! Half the questions were actual questions - meaning you calculate it with a calculator. Also, there are four full pages of tables to help you calculate answers to those questions at the front of the test so know how to use them. And finally, to give you hope about how you can become a lucky guesser, I was so unfamiliar with how to work these problems that I didn't even *reference* those tables b/c I had no idea how to work them out. This test I was absolutely sure I failed, but somehow.....I passed. You can do it, but study hard!!! And then....you will NEVER have to study it again!!! Woo-hoo!
Leah in Texas
CLEPs I passed: Accounting, Info Syst/Comp App, Mgmt, Marketing, Am Lit, Anlyz/Inter Lit, Eng Comp w/ Essay, Eng Lit, Humanities, US Hist I, US Hist II, Macroeco, Microeco, College Math, Nat. Sciences, College Algebra, Buis Law, Sociology
DSSTs I passed: Statistics, Finance, HR Mgmt, Org Behavior, Intro to Buis, Mgmt Info Sys, Buis Math, Prin Supervision, Money and Banking
Tests I failed:
Money and Banking, Pre-cal
College/Major: Thomas Edison, Buis Mgmt
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FYI - I just received the score for my Principles of Finance DSST.......I got a 60 (I only needed a 46 or better)!!! It took 19 days to get the score back.
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Dakota Wrote:FYI - I just received the score for my Principles of Finance DSST.......I got a 60 (I only needed a 46 or better)!!! It took 19 days to get the score back.
AWESOME!
That was a stinking hard exam (as you know). You did FANTASTIC Dakota.
Congratulations,
Snazzlefrag
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).
[SIZE=1]GPA: 4.0
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