Accountant in Business MTQ advice

Accountant in Business MTQ advice

Hi my name is Debbie and I work for BPP
Professional Education. I’m here to talk to you about the new
format computer-based exams that are going to come in in February 2014, specifically I’m going to
talk to you about the knowledge modules or the foundations in
accountancy diploma and ACCA F1 accountant in business. We’re going to look at the exam format, what has and hasn’t changed,
we’re going to look at the skills that you need in order to maximise your
chances of passing the exam and we’re going to look
in detail at the question types that you’re likely to encounter as you go through the paper. So firstly, let’s look at what hasn’t changed, well the exam is two hours long, you have
no reading time and there are one hundred marks available. What has changed is that now those one hundred
marks are available across two sections, previously the exam was one
big lump of a section, now it’s split up into section A and
section B. So let’s have a look in a little bit
more detail then at those two sections. So section A is thirty questions worth
two marks for a total of sixty marks and sixteen questions worth one
mark each for total of sixteen marks, these questions are likely to have a short scenario to which
you’re going to need to apply your knowledge in order to correctly answer the
question, but you could just have a question that’s a pure knowledge test as
well so a question with no scenario. Section B is going to
have six questions worth four marks, these are likely to have a
slightly longer scenario and multiple tasks associated with them. All of the
questions are compulsory and the pass mark is 50%. Okay, so let’s have a closer look at those exam skills then, so we’ve got four things to
work our way through. The first exam skill is really a given, it’s learning and understanding the
syllabus, so there are two approaches here, we’ve got learning, which is
about the theoretical knowledge, so filing that
away and then understanding the syllabus
which is about the practical application of your knowledge to a scenario, so we can’t just learn
and churn here we’ve got to make sure we understand the context of the knowledge that we’ve acquired so we’ve
got to make sure that we’re doing lots of practice questions to check that we can apply our knowledge to the scenarios. Second skill that we’re going to need is time management so we’ve got one
hundred marks to find and we’ve got two hours to do it in that works out at 1.2 minutes
per mark so of course what we don’t want to do is to be looking at the clock every 1.2 minutes, we don’t have time for that so what we’ll do is to divide the exam down into say half hour sections so after half an hour has passed
are you a quarter of the way through the paper? We need to make sure that we’ve specifically
sectioned off 29 minutes, so round about half an hour for section B, so we can devote the full
time needed to section B. Third skill then is tackling objective test questions, so we’re
we going to look in detail at the different question
types that you’re likely to encounter in the question paper. So the first of these
question types then is the multiple choice questions, so we can
see here that we’ve got a short statement and we have to pick the
most appropriate answer, we only want to choose
one answer of the available three and this particular
question is just worth one mark, so we’re choosing one answer from three
options, if we had four options to choose from
this question would be worth two marks and because this is section A we
get no partial credit so the question is either
correct or incorrect, and we’ll talk about that a little bit more
later on. The other thing to notice with this
question is we’re asked for the most appropriate answer what that means is that there’s
more than one answer here that is technically correct so what you’ll have to do is demonstrate
the strength of your knowledge by picking the most appropriate answer, the
best possible answer out of those three. Next question type then
is multiple response so here we’ve got to pick two of the four statements that we’ve got pick to
from so we’ve got to make sure that we follow
the instructions and pick two answers. As we said a second ago so this is section A, we have no partial marking so if we were only to pick one answer we
wouldn’t pick up one mark so we need to pick two answers and if those
answers are correct then we get two marks if one of them is incorrect then we get
no marks unfortunately. Third question type is multi response
matching: here you can see with this question we’ve got a
reasonably it’s not a big scenario, but it’s bigger than what
we’ve seen so far and we’ve got four decisions to make, so
this particular question’s going to take a little bit more time than the other
questions that we’ve looked at and the true/false that we’re going to look at in a
second but that’s absolutely fine, so we know that some
of the questions we do are going to be nice and quick and easy, some of them are going to take a little bit more effort, a little bit more time but that’s fine, we’ll get a balance
across the entire paper. So with this one we need to pick more
than one answer, so we need an answer for liquidity, an answer for operating costs
etc so that’s a multi response matching question. Final question we’re going to look at in this section is a true or false what you can see here is that we don’t have a
scenario, we’ve got a simple statement is it right, is it wrong? All true/false
questions will be for one mark only and you’ve got to be really, really
careful with this question so if you notice we’d expect the answers to
be true then false, and what we’ve got is false then true so there’s no switching on the autopilot
when you’re doing this exam: pay attention make sure you pick the correct answer. Finally then, let’s talk about those multitask questions, so where you’ve got a bit more of a scenario, something to get your teeth into, and a few tasks to answer so these questions, there will be six of them,
four marks each and you’ve got to set aside round about
half an hour to get this done so make sure you keep on track with your timing. Okay let’s have a look at this question then,
we’ve got the background, so we’ve got a little bit of a scenario, we’ve got the information and then we’ve got a new question type so we’ve got two new question types in these multitask questions, we’ve got to pick from a drop-down menu and then
we’ve got hot spots as well so we’re looking at a drop down menu here. So the
question says that we’ve got four references to the functions of
management, and so we’ve got four statements and then we’ve got task one, which is
select the correct reference for each writer, so you click on the little arrow,
drop down menu appears and you can click on the correct reference
for each writer, so here what you’ll notice is that
for Peter Drucker I’ve selected reference D. This particular task has two
marks you can see there we’ve got 0.5 out of two marks,
so I’ve got this question correct and as I go through, so I select an answer from Elton Mayo, if I get that correct I’ll get another half mark, I select an answer for Henry Mintzberg, if I get that
correct I’ll get another half mark, so in Section B we have partial
marking which is brilliant of course, partial credit for
your efforts. So let’s move on to task two: task two says from the list below
identify two of Henry Fayol’s functions of management. So what you’ll notice is that task two
is on the same topic as task one but they don’t follow on from
each other so if you’ve made a little mistake in task one it
doesn’t matter you get a clean slate for task two, this is a
multi response question exactly like we saw before so you need to pick two answers rather than just one and we’ve got two marks
available. This is section B, so we do have
that partial marking don’t forget so here what you can see is I’ve selected one answer and you know that this is the correct answer, but you can see
that I’ve got no credit for that yet: what I need to do to get credit for that
answer that’s correct is select another answer, so here if I picked motivating I know that’s incorrect, but if I didn’t know the answer and I selected motivating then I would get one mark, I’d get the one
mark for having selected one correct answer and then put the
correct number of answers into the exam. Of course if I wanted the full two marks, I’d have
to select two right answers. Final thing I’m going to show you then for
these multitask questions is the collapse function, what we can see
on this slide if that we’ve got the big orange plus and then we’ve got three sections to the
question, so we’ve got the background then we’ve got task one and task two. So these questions they can be quite
long so it’s quite handy to be able to collapse down one or more of the tasks so that you’re just looking at the task that you’re doing at the moment so we don’t get distracted by all the stuff that’s going on, so here we can
see that we’ve got the background so we can read the scenario and then on the next slide if
you want to take a look at task one we’ll just click on the orange cross or plus sign and expand task one, we can
have a go at task one once we’ve finished task one we’ll click the little minus button and then move on to task two. Just a couple more things I want
to remind you of then just before I say goodbye so things to watch out for when you’re studying what you need to
remember is to do lots and lots of question practice, that’s the
main thing so you can practice the application of your
knowledge to a scenario then when you’re actually in the exam you
need to remember to read the question very very carefully: they do try to trip
you up but that’s something that we’re
prepared for and we’re going to make sure that we read the questions and answer them correctly. Other things of course time management, pay attention to how
quickly you’re getting through those questions and make sure you keep the
pace up if you need to you and then finally next steps, so what should you do after you’ve booked your CB, while you’re
preparing for the exam? Well what we would
recommend is that you go to the ACCA website and have a go at the specimen paper, so fantastic resource there for you just like sitting the real exam so go and
have a look at that, there are two available there’s one that’s a full length paper and there’s one that’s some extra
practice for those multitask questions. Apart from that make
sure you have a go at as many questions as you can get your hands on so you can acquire a practice and revision kit if you can and do lots and lots and lots of question practice. Get hold of your tuition provider if you need any extra support, they will
be more than happy to help you out and other than that I wish you lots and lots of luck for all of your future studies.

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14 thoughts on “Accountant in Business MTQ advice

  1. Difficult typing with one hand .

    I was writing down the notes with the other hand . What did you think of you pervert !! haha .

  2. Thanks a lot for making such amazing, useful videos and helping so many people. This channel is doing a great job! Can't thank you enough.

    Your videos have really inspired me, thus I have decided to upload some ACCA videos in Bangla for the students in Bangladesh. Please show some support by subscribing to my channel. Thanks!

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