Principles of Finance

[snazzlefrag]

I'm back!

It was fine. The exam wasn't as hard as I imagined. It was definitely a HARD exam. But totally doable if you have studied your butt off.

My number one advice is: Buy yourself a Texas Instruments BAII+ calculator for about $30.00, and learn how to use it. There were perhaps ten to fifteen questions that suddenly became remarkably easy once I turned my calculator on. Absolutely FREE POINTS! NPV, IRR, Cash Flow....all can be done quickly and easily with the touch of a few buttons.

There were several questions that I had to guess on, but mostly I was able to at least make an educated guess.

I was expecting evil questions from hell....but they didn't materialize! The questions were challenging, but if you have studied well, you will not struggle too much.

Instantcert is enough to give you an overview of the terminology and an introduction to some of the ratios and formulas. I found it very helpful when I first began studying. However, I also studied intensively from the various sites I listed earlier in this thread. I believe it was the additional resources that solidified things in my mind and turned a potentially brain-numbing exam into something much more manageable.

I think I probably passed...but I have no clue what my score might be (too many guessed answers to know for sure).

The first dozen or so questions seemed VERY easy to me. The middle fifty questions were all much tougher, and the final dozen or so seemed to get easier again.

I took the exam in the same room as eight internationals taking their TOEFL exam. They used headsets to listen to the prompts and then spoke their answers into a microphone. It was quite comical because, every now and then out of the silence, somebody would say "I am very pleased to meet you", or "The table has four legs", or "It is very windy outside".

-------------------
Me (thinking to myself): "Okay so the Earnings Per Share formula is: Net Income divided by the number of outstanding shares".


Indian Guy: "The banana is yellow".


Japanese Girl: "My sock has a hole in it"


Me (thinking to myself): "The coupon rate is a fixed percentage of the bond's Par value".


Chinese Guy: "I like to drink coffee in the evening".


Russian Guy: "Please turn left at the next stop sign".


Me (thinking to myself): "Get me OUT OF HEEEEERE!"
-------------------

Thankfully I found it rather more amusing than irritating!

Anyway, all in all this was a VERY challenging exam, but not as terrible as I expected. Study HARD and you might be pleasantly surprised by how doable this exam is.

That's all for now,
Snazzlefrag

[Librevore]

Congratulations Snazzlefrag! I knew that you would do it. When you get used to using one of those calculators it is amazing how often it comes in handy in just everyday life too! Good advice.

[snazzlefrag]

Hi All,

I got my score for Principles of Finance in the mail today. It took 17 days.

I scored a 66...another 'A' in my pocket. This was definitely one of the harder exams, and I worked my butt off to earn these 3 credits.

I'm glad it's over!


Thanks to everyone who helped,
Snazzlefrag

[yutzyj]

Originally Posted by snazzlefrag

Hi All,

I got my score for Principles of Finance in the mail today. It took 17 days.

I scored a 66...another 'A' in my pocket. This was definitely one of the harder exams, and I worked my butt off to earn these 3 credits.

I'm glad it's over!


Thanks to everyone who helped,
Snazzlefrag

Congrats! knew you could do it and do it well!

[avi]

I recently took principles of finance. Though I havent got my score back yet, I felt like I was very prepared for this test. The last section of instancert helped m e answer about 15-20 questions. I felt instantcert was great preperation for this test. I printed out, from a different site a list of the 10 most common ratios and I memorized them, and that also helped me answer 5-8 questions. I also memorized the formulas for operating leverage and financial leverage- very important. All in all it was not as bad as I expected. I think I am going to take money and banking tommorow, and from the previous threads I am a little nerveous. I have about 5 more hours of studying and then I am going for it. Wish me luck.
Avi

[Librevore]

Originally Posted by avi

I recently took principles of finance. Though I havent got my score back yet, I felt like I was very prepared for this test. The last section of instancert helped m e answer about 15-20 questions. I felt instantcert was great preperation for this test. I printed out, from a different site a list of the 10 most common ratios and I memorized them, and that also helped me answer 5-8 questions. I also memorized the formulas for operating leverage and financial leverage- very important. All in all it was not as bad as I expected. I think I am going to take money and banking tommorow, and from the previous threads I am a little nerveous. I have about 5 more hours of studying and then I am going for it. Wish me luck.
Avi

Sounds like you did very well, Avi. Can't wait to hear!

I'm wishing you luck for tomorrow. Or is that today? How many hours difference is there between where you are and the northwestern U.S.? Anyway, I'm sure you'll do great!
Librevore

[ridin8ude]

Snazzlefrag (or anyone else),
Since some of us have just taken the principles of account exam, I'm thinking it does make sense to go straight on to take the DSST Principles of Finance exam.

I know I have more studying to do, but based on what we've already studied (and hopefully learned) for the accounting exam, how much more studying would be required to take the finance exam?

Obviously totally subjective, but it is just a case of really knowing the formulas and ratios, we should already know the concepts...

I wanna spend the least time I can studying for this

[snazzlefrag]

Originally Posted by ridin8ude

Snazzlefrag (or anyone else),
Since some of us have just taken the principles of account exam, I'm thinking it does make sense to go straight on to take the DSST Principles of Finance exam.

I know I have more studying to do, but based on what we've already studied (and hopefully learned) for the accounting exam, how much more studying would be required to take the finance exam?

Obviously totally subjective, but it is just a case of really knowing the formulas and ratios, we should already know the concepts...

I wanna spend the least time I can studying for this

Hi ridn8ude,

I think moving on to study Principles of Finance next is a great idea.

Who knows how much more studying you need to do though. There are too many subjective variables, and it is going to be different for everyone.

However, I wouldn't recommend that you rush into this one. I would caution you to take your time, and make sure you learn all the new material well. There are significant differences between this exam and the accounting exam. This is a very challenging, upper level exam.....so do what you need to do to get yourself ready for it.

Also, your calculator will be your friend on this one.

I would include Principles of Finance in my list of THE most difficult exams.....but it IS passable if you work hard, don't rush into it, and show it the respect it deserves.

Best of luck,
Snazzlefrag

[Kiwi Lover]

Originally Posted by snazzlefrag

I would include Principles of Finance in my list of THE most difficult exams.....but it IS passable if you work hard, don't rush into it, and show it the respect it deserves.

I TOTALLY agree with Snazz...give yourself plenty of time to prepare for this one.

Good luck!
JoAnne