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+--- Thread: Calculator for Principles of Finance DSST? (/Thread-Calculator-for-Principles-of-Finance-DSST)
Calculator for Principles of Finance DSST? - Kaskadian - 03-01-2015
Hi everyone,
I've heard mixed rumors that DSST no longer allows a calculator to be used on their Principles of Finance test. Can anyone confirm this? Math is definitely my weak point and I'm dreading this exam. If they're still allowing a calculator, is the BA II necessary? I have a TI-84 PLUS graphing calculator but I have no idea if financial formulas can be used on it.
If DSST no longer allows calculators on this exam, I may have to find an alternative method for obtaining these 3 finance credits.
Kas
Calculator for Principles of Finance DSST? - OfficerA - 03-01-2015
I would contact whichever testing center you're going to test with, and make sure you grab a copy of the Fact Sheet for it: http://getcollegecredit.com/assets/pdf/dsst_fact_sheets/DSST_PrinciplesofFinance.pdf
If they give you grief, you can highlight this paragraph for them:
The use of nonprogrammable calculators is permitted during the test. Scratch paper for computations will be provided. A calculator function is available during computer-based exams.
My testing center initially resisted me bringing in any calculator, as the function exists within the test itself. After I pointed this out to them they allowed me to use one of their calculators although they were pretty much the same as what the tests have, not one of the Finance-capable ones.
Your calculator should be able to work, although you may need to tweak it: TI-84 Plus Tutorial - Lump Sums | TVMCalcs.com
As for feedback with the exam: I took it a little cold, and ultimately didn't even end up using the calculator all that much (other than ratio calculations, which are simple division questions usually). Memorizing and understanding WHY you're using a formula was more important, and some of them show up repeatedly throughout the exam. Definitely get the basics down (such as calculating the value of a bond), as they will show up often, considering how the exam has 100 questions. There are also "tutorial" pages (mine had three) explaining the annuity tables (I believe), but note that time continues to tick whenever you refer back to them. A calculator can definitely help, but make sure you have the concepts/formulas down as well as a good understanding of the calculator itself.
There were only a few, long calculations involved from what I recall (one dealing with mortgage), but remember that all questions are worth the same; don't spend too much time on one if you can help it.
Lastly, I believe Financial Management through Penn Foster counts for this course, and has pretty good reviews: http://www.degreeforum.net/excelsior-thomas-edison-charter-oak-specific/21618-financial-management-101-penn-foster-tesc.html