Online Degrees and CLEP and DSST Exam Prep Discussion
I just took money and banking - Printable Version

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I just took money and banking - avi - 08-23-2006

I went into the money and banking test today petrified. I did a petersons practice tests and got only 40 percent correct. I read all the threads on this test and was totally scared.
This test was not nearly as hard for me as its made out to be. There were quite a few reasons and I will try to explain so others can benefit.
1) I did macro, micro, finance and accounting before this test. Many questions were based on info from those previous courses!!!!!!!!
2) I knew all the instancert material very well!!!
3)The same as 1

I am a big talker now when I really dont know my score, however I firmly believe that this is a very very doable test if you understand the concepts. I will tell you guys in a few weeks what happens- good luck everyone. This is the first peterson test I paid for and I felt it was a total waste. The questions were 50% harder then the actuall test and almost all the info was totally unrelevant to the test. Good luck everyone.
Avi

I just took money and banking - ShotoJuku - 08-23-2006

[SIZE="2"]Sounds like you were well prepared going in and yes, the Petersons exams are always more difficult than the real thing. As such, I would say that it looks like you will pass - Good Luck!![/SIZE]

I just took money and banking - snazzlefrag - 08-23-2006

avi Wrote:1) I did macro, micro, finance and accounting before this test. Many questions were based on info from those previous courses!!!!!!!!
2) I knew all the instancert material very well!!!
3)The same as 1

Hi Avi,

Money & Banking is basically an upper level economics exam. So it makes sense that the courses you listed above would provide a solid foundation for this exam.

I too, have already passed finance and accounting. I plan on taking macro, then micro, then M&B in the next couple of weeks. So hopefully I will also benefit from the cumulative effect of taking the economics exams in order.

I'll keep my fingers crossed for a passing score for you.

Good luck,
Snazzlefrag

I just took money and banking - Librevore - 08-23-2006

avi Wrote:I went into the money and banking test today petrified. I did a petersons practice tests and got only 40 percent correct. I read all the threads on this test and was totally scared.
This test was not nearly as hard for me as its made out to be. There were quite a few reasons and I will try to explain so others can benefit.
1) I did macro, micro, finance and accounting before this test. Many questions were based on info from those previous courses!!!!!!!!
2) I knew all the instancert material very well!!!
3)The same as 1

I am a big talker now when I really dont know my score, however I firmly believe that this is a very very doable test if you understand the concepts. I will tell you guys in a few weeks what happens- good luck everyone. This is the first peterson test I paid for and I felt it was a total waste. The questions were 50% harder then the actuall test and almost all the info was totally unrelevant to the test. Good luck everyone.
Avi

Hi Avi-you always study and prepare so well that I'm sure you did great. Let us know. Are you going to start studying for the precal now?

Librevore

I just took money and banking - avi - 08-23-2006

I think I will take for my next few tests, business math, data management systems, human resource management and organizational behavior. This will complete all the cleps and dantes I can do for my degree, except for STUPID precal. I think precal will take me a few weeks of really hard studying and I would like to post on my transcripts as many credits as possible as soon as possible. So I am leaving good old STUPID precal for the end. If anyone has any tips for precal I would be soooooo appreciative. Good luck.

I just took money and banking - dhlvrsn - 08-24-2006

Check if there is "for Dummies" workbook. I like the workbooks better than their books. Lots of simple problems that focus on the concept not trying to confuse you big numbers etc. and EVERY problem has an answer and an explanation why. Not something really helpful like 2.4589. They go into detail and explain the answer and how you get there.

I just took money and banking - snazzlefrag - 09-15-2006

Hi All,

I took Money & Banking today.

All I can say is....Holy Shite!!!

It is DEFINITELY one of the most difficult exams out there. I don't think the questions were EXTRA HARD, but the answer options seemed to be consistently more obscure than they are on most other exams.

The exam is literally a composite of Macroeconomics, Microeconomics, Principles of Finance, and Accounting. I would not recommend taking this exam until you have studied all of the above.

Instantcert is not enough for this exam. However, if you study the sections on the four subjects I listed above AND the section for M&B, you should be okay.

I can't stress this enough. There were MANY questions that I would not have known the answer to, had I not already studied the other subjects.

I was SHOCKED to find five calculation questions on my exam. Each one required you to know a formula that you would have learned while studying for Principles of Finance. The only difference is that no calculator is allowed for M&B.

There were three or four questions which involved concepts you would have learned for Principles of Accounting.

There were dozens of questions that required you to have studied Macro and Micro (especially Macro). These topics aren't mentioned on the DSST Study Sheet, and are not covered in IC's M&B section. Be warned!

I am proud of how much information I actually remembered from the four previous exams. But even so, I have no clue how I did on this exam. For MANY of the questions, I had to choose between two or three answers that all looked equally correct.

I don't want to scare anyone here, but please be warned that if you haven't studied Macro, Micro, Finance, and Accounting already; you WILL have trouble with this exam. Think of it as a Capstone exam which encompasses elements of all the above.

I can't even say that I 'think' I may have passed this exam. All I can say is that I 'hope' I passed.

I'm not even going to provide a list of items covered on my exam, as I normally do. It might lull you into a false sense of security! You MUST be extremely well versed with all the concepts contained in M&B (plus the four other subjects). If not, you will very likely struggle. I scored well on all the above subjects, and STILL felt like I struggled with this exam. Please be advised!

I felt like I had a good understanding of the material, and I am hopeful that it was enough to pass. I may have got an A, or I may have failed it miserably.

I will let you know in 2-3 weeks.

Hope that helps,
Snazzlefrag

I just took money and banking - mrpaul - 09-15-2006

Thanks for the well informed post as usual Snazz. You are such a assest to the board. I passed both Micro and Macro, but there may have been divine intervetion with Micro as I squeezed out a 57 somehow cramming in about 10 skipping answersand the end with seconds on the clock. Makes me shiver a little thinking about it. Big Grin Anyway, considering that you always prepare well, your going to pass it and not look back. Most sincere best of luck to you. Let us know.

-paul.

I just took money and banking - Librevore - 09-16-2006

Ditto on what Paul said, Snazz. I'm sure you did well. We'll all be waiting to hear.

Librevore

I just took money and banking - snazzlefrag - 09-27-2006

Hi All,

I got my score back for DANTES Money & Banking today. I managed to get a 60, which is an A at Excelsior. All I can say is "Thank God!".

As I said on the day I took the exam, I had no clue whether I would fail this exam, or get an 'A'. It could have gone either way, depending on how accurate my 'educated guesses' were on some of the questions.

This was a nerve-wracking couple of weeks while I waited to find out my fate. I'm glad it's over...and I'm thrilled that I got an 'A'.

I still think that this was the hardest of all the exams I have taken so far.

It took DANTES exactly 14 days to get my score to me.

Thanks to all of you for you encouragement and support,
Snazzlefrag