Exam Success Workshop

1 August 2015

2015 Syllabus and Assessment

• 2015 Syllabus and Assessment

• Exam techniques - Objective tests

• Exam techniques – Case study

• Summary

Agenda

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2015 syllabus and assessment

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Syllabus development through comprehensive research

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Durham

London

Durban

Dublin

Johannesburg

Accra

Cape TownSydney

Kuala Lumpur

Dubai

Warsaw

Colombo

Delhi

Mumbai

Chennai

Hong Kong

Shanghai

Beijing

Ho Chi Minh City

Penang Singapore

New YorkSeattle

San FranciscoHouston

Atlanta

Bethesda

• Face-to-face meetings and roundtable discussions

• Global online question survey involving over 3000 participants

CGMA competency framework

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The 2015 CIMA Qualification

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No / limited relevance experience

Bachelor in Accounting/ Business / Commerce

MBA/ Other accounting qualifications

• All certificate level and

professional level subjects

are examined by Objective

Test Questions (OTQs)

• Assessment can be taken

anytime of the year whenever

you are ready

• Exams can be taken at over

5,000 Pearson VUE centres

around the world

Objective Tests

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• Multiple choice

• Multiple response

• Drag and drop

• Hot spot

• Short answer (normally calculation)

• Drop down

• Matching

• Ranking

• Sentence completion

OTQs - Not just MCQs

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Multiple response

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Drag and drop

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Short Calculation

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Numerical question

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Data analysis

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Scenario based question

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• Tests technical competency across all syllabus areas

• Guarantee that all component learning outcomes will be tested

• Targeted questions to ensure thorough understanding &

proficiency

• Easy to answer but not an easy test

• Much shorter exam time

Assuring competency

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• 90 minutes

• 60 items

• Computer marked

• Result given immediately

• Available year-round

• Possible to reschedule up to 48 hours before examination

Exam logistics

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Case studies(Long and short answer essay questions)

Objective tests

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4

3

2

1

• There is a case study

examination at the end of each

level

• While OTQs mainly test

knowledge, case study tests

application and communication

skills

• Case study exams will cover

knowledge from all 3 pillars

• Intermediate awards upon

completion of a level

Case Study

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Approach to Case Study

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• 3 hours

• Preseen available to download 7 weeks before exam

• 3 – 5 tasks in each exam

• Each tasks will have a specific time assigned to

• Students will be forced to ‘move on’ when time is up

• Not possible to return to previous task once moved on

• Human marked

• Result given in 4 – 5 weeks

• Available 4 times a year. Each sitting has a window of 5 days

• Total of 5 variants, randomly selected by the system

• Possible to reschedule up to 14 days before examination

Exam logistics

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Summary

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• Computer based assessment

• Increase flexibility

• Structured level approach

• 2 different types of examinations

• Competent and confident

• Enhance employability

Exam techniques – objective tests

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Know your platform

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Some questions can take longer to complete

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Numerical question

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4 types of questions

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Cat. Question type Confidence Time

1

Short questions where you feel confident about the

content, therefore quick to answer

2

Longer questions where you feel confident about the

approach required

3

Short questions where you are less confident and will

need to give more consideration / thought / workings

4

Longer questions, with more complex data where you

need to consider the approach required to answer the

question

• Take about 10 to 15 minutes to click “Next” through all 60 items,

identifying and answering the questions in category 1

• Brief ‘knowledge’ and ‘definition’ MCQs where the correct answer

is identified immediately without the need for re-reading of the

stem or the options.

• At the end of the first run-through, you may have answered 10 to

15 questions with confidence.

• This confidence will allow you to relax a little and approach the

remaining questions more calmly.

Suggested approach – Step 1

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Quick skim through using the ‘Next’ button

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• Use the function “Review Incomplete Items” in the review screen

• Identify questions from category 2

• You know the approach to answering and also know that you

would prefer to have less time pressure in answering.

• Such questions would include those requiring analysis of a short

scenario / set of data or calculations where you know what those

calculations need to be.

• Depending on the subject being examined, this could get you up

to another 20 to 30 questions

Suggested approach – Step 2

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Review incomplete questions

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• Use the function “Review Incomplete Items” again, this time

tackling the questions in categories 3 and 4

• You know that you have to think in more detail about the options

or workings.

• Do not spend too long on any one question (a maximum

• of 3 minutes).

• If you think you need more time to review a question, submit

your “best” answer and click the “Flag” button so that you can

review the question in any time remaining after all questions

have been attempted.

Suggested approach – Step 3

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Read carefully and use the flag function

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• Use any remaining time to review flagged questions, making

sure that you consider the options or calculations carefully.

• After 85 minutes, a window will pop up to alert you that there are

• 5 minutes remaining.

• Return to the review screen; click “Review Incomplete Items” and

ensure that an answer is submitted for every question.

• At the end of the 90 minutes available, the exam will close down.

• All complete answers, including those which have been flagged

will be recorded for scoring. Any which are incomplete will earn

no marks.

Suggested approach – Step 4

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Ensuring no incomplete questions

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• Negative marking (for wrong answers, you won’t lose marks)

• Partial marking (you either earn a mark or don’t earn any marks.

i.e. only a correct and complete answer will earn the marks, and

partial answers will earn no marks)

In OT Exams, there is NO:

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Pay special attention to multi-response questions

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Pay special attention to multi-response questions

• Know your system

http://www.pearsonvue.com/cima/practiceexams/cima_professional_qualification_exams_tutorials.pdf

• Time Management

https://connect.cimaglobal.com/system/files/resource/time-managment-ot-exams-feb15.pdf

• All questions carry equal marks but they are not equal in time

• Do Careful question reading is a must. If in doubt, read again

• Don’t miss any question or leave it incomplete (no marks) – No

negative marking!

• But try to get the easy marks first

Exam tips

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• Preliminary pass/ fail when leaving the exam centre

• Indicative pass mark = 70%

• Overall grade (pass or fail) is based on overall performance on

the exam

• Against each syllabus topic area you will also receive a grade of

either Proficient or Not Proficient

– Proficient = scored above the boundary required to demonstrate

competence

– Non Proficient = scored below the boundary required to demonstrate

competence

Objective test – exam result

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• Overall not reaching 70%, so fail

• Student should review ALL syllabus area before re-take

• Special attention should be pay to the Non-proficient area

Example 1 – P1 Management Accounting

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Area Topic Weight Approx. Qs Boundary Correct Result display

A Cost accounting systems

30% 18 12.6 10 Non- Proficient

B Budgeting 25% 15 10 11 Proficient

C Short-term decision making

30% 18 12.6 13 Proficient

D Dealing with risk and uncertainty

15% 9 6.3 5 Non- Proficient

Total 100% 60 42 39 FAIL

• Overall above 70%, so pass

• Student should review Non –proficient syllabus area before Case

Study exam

Example 2 – P1 Management Accounting

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Area Topic Weight Approx. Qs Boundary Correct Result display

A Cost accounting systems

30% 18 12.6 15 Proficient

B Budgeting 25% 15 10 11 Proficient

C Short-term decision making

30% 18 12.6 13 Proficient

D Dealing with risk and uncertainty

15% 9 6.3 4 Non- Proficient

Total 100% 60 42 43 PASS

Exam techniques – Case study

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• 80 out of 150

• Meeting the minimum threshold (approx. 1/3) against each competency

• You will be issued one of three categories indicating your performance for

each competency

– Fail: Below the minimum threshold

– Moderate: Between the minimum threshold and just above the

performance of a minimally competent candidate for the specific

competency.

– Strong: Demonstrating a high level of competency

Passing case study exam

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Competency Mix at strategic level Minimum threshold

Technical 23% 8%

Business 23% 8%

People 22% 7%

Leadership 23% 8%

Integration 9% 3%

Competency mix at different level

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• Overall fail (less than 80 out of 150)

• Student should review ALL competencies before re-take

• Special attention should be pay to the People and Leadership

skills

Example 1

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Competency Weight Threshold Student score Result display

Technical 23% 8% 10% Moderate

Business 23% 8% 10% Moderate

People 22% 7% 5% Fail

Leadership 23% 8% 3% Fail

Integration 9% 3% 3% Moderate

Total 100% - 31% FAIL50/150

• Overall fail (less than 80 out of 150)

• Student should review ALL competencies before re-take

• The scale score (out of 150) will show how close the student is

from passing

Example 2

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Competency Weight Threshold Student score Result display

Technical 23% 8% 10% Moderate

Business 23% 8% 10% Moderate

People 22% 7% 10% Moderate

Leadership 23% 8% 10% Moderate

Integration 9% 3% 4% Moderate

Total 100% - 44% FAIL70/150

• At least one competency not reaching threshold, so fail

• Focus on Leadership before re-take

Example 3

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Competency Weight Threshold Student score Result display

Technical 23% 8% 20% Strong

Business 23% 8% 20% Strong

People 22% 7% 20% Strong

Leadership 23% 8% 5% Fail

Integration 9% 3% 3% Moderate

Total 100% - 68% FAIL90/150

Example 4

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Competency Weight Threshold Student score Result display

Technical 23% 8% 20% Strong

Business 23% 8% 20% Strong

People 22% 7% 20% Strong

Leadership 23% 8% 10% Moderate

Integration 9% 3% 5% Moderate

Total 100% - 75% Pass

• Above 80/150 and all competencies meeting minimum threshold

• In order to pass, student must develop an all rounded approach

100/150

• Requirement(s) correctly interpreted

• Answered the question set / all requirements

• Logical and coherent answer

• Demonstration of understanding of theory / principles

(appropriately)

• Theory / principles applied well to specific problem / issue

• Conforms to the format required

• Short concise sentences with less punctuation

• Headings and sub-headings

• Short paragraphs, and make a separate paragraph for each point

• Selective underlining

• Answered within time

What will a ‘good answer’ looks like?

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• There is no difference in what would earn marks in Case Study

Exams, because it is always about answering the question!

• It is extremely unlikely that a well-prepared student who answers

what is asked would fail to meet the threshold for all the

competencies.

• Need not worry about competencies as a ‘good answer’ will hit the

competencies.

• A strategic level question will ask for a different approach from an

operational level question (e.g. more complex)

‘Good answer’ earns marks

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Summary of pre-seen

• Look is similar to Google: listed with high P/E ratio

• 3 founders have 10% of shares but majority votes due to two tier

share structure

• 9 business units:

– Look Search: search engine giving 90%+ of profit but mature

– Look Space: maps giving 9.4% of profit

– Look OS: free smartphone operating system (loss making)

– Look Apps: downloads of Look’s and 3rd party apps 0.3% of profit

– Look Phones: premium smartphones 2.7% of profit

– Look Lens: in-eye display units (loss making)

– Look Media: streamed content 5.9% of profit

– Look Cloud: pay for storage (loss making)

LOOK (March 2015 SCS)

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Summary of pre-seen (con’t)

• CSR commitments in areas of energy use and staff welfare

• Questionable corporate governance due to dominance of founders

• Rumours that one founder thinking of leaving

• Data on Friendtime, a listed social media site (like Facebook)

LOOK (March 2015 SCS)

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SCS March 2015 – v4

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SCS March 2015 – v4: Task 1

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Time given: 60 mins (33%)

SCS March 2015 – v4: Task 1

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Time given: 60 mins (33%)

• Is LOOK Payment a good strategic fit for LOOK

• What are the risk to LOOK’s reputation from this venture

SCS March 2015 – v4: Task 1 Requirements

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E3 P3

• Strategic fit?

• E3 – (B) evaluate the process of strategy formulation

– LOOK is already a well known and trusted brand

– Build critical mass of business with existing advertisers

– Build data and gain insight

– Technically capable though lacking finance experience

– Synergy with mobile products

SCS March 2015 – v4: Task 1 Answer

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E3

• Reputational risk

• P3 – (B) evaluate the tools and processes required for strategy

implementation

– Commercial failure – bad publicity

– Target of fraud and hacking

– Customers may receive fraudulent e-mails using LOOK’s logo

– Careless overspending on internet

– Disputes between consumers and suppliers

– Concerns about person privacy

SCS March 2015 – v4: Task Answer

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P3

Marking guidance

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• Two answers may earn same marks –students need to believe in

their intuition and ‘business common sense’

• Students need to identify ‘what the company could / should do’,

and of course justify

• Elaborate your answer with ‘why’ – avoid bullet points

• Magic words in the answer

– … because …

– However, …

– Alternatively, ….

• Students need to think within the ‘Job Role’ in the pre-seen

• No specific marks for calculations, and marks are for interpretation

Insights

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• Markers will NOT be making decisions or applying marks against

competencies

Insights

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• The main problems were candidates failing to answer what was

asked and writing everything they knew

• Using completely irrelevant models.

• No marks available for random models and candidates sometimes

had long lists of models in their answers.

• There was little evidence of knowledge of the preseen material

• In most of the questions it was hoped candidates would be able to

use industry knowledge and knowledge of the company to help

formulate answers, there was little evidence of this.

Examiner’s report – overall comment

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• Fully absorb and analyse the pre-seen information in order to step

into the assigned role in that organisation on exam day (story of

the organisation and its environment / stakeholders) - exam tasks

draw on pre-seen materials.

• Understand the requirements / question set, and answer the

question(s)

• Answer planning is very important (1/3 of the allocated time): think

more-write less!

• Relate the answer to the pre-seen information all the time (to

ensure students demonstrate the four skills and ability to

integrate)

• Time management – do not run out of time for well known topics

5 important things to success

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• CIMAconnect – The study support platform

• 2015 Professional Qualification syllabus

• Practice exams

• Guide to writing a report in the case study exams (login needed)

• Guide to writing an email in the case study exams (login needed)

• FM article by By Helen Crofts and the Case Study Exam writers

(login required)

Useful links

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Objective Test (Jan – May 2015)

Case Study (March & May 2015)

Pass rates

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E1 P1 F1 E2 P2 F2 E3 P3 F3

Overall pass rate 83 54 80 91 57 60 71 57 54

First time pass rate 78 45 75 86 44 49 59 48 45

March May August November

Operational 44 67 - -

Management 33 62 - -

Strategic 46 70 - -

• Practice mode – attempt

questions at your own pace

and get instant feedback on

your answers and an

explanation of the correct

answer.

• Timed assessment mode –

test yourself under exam

conditions and then get a full

report and links back to any

incorrect answers.

Be exam ready

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Thank you