CIMA Exam Techniques Workshop E1 and E2, Russia and … locations docs... · CIMA Exam Techniques Workshop E1 and E2, Russia and CIS ... 1 –Knowledge Advance Basic ... F1) A –20%

CIMA Education

CIMA

Exam Techniques Workshop

E1 and E2, Russia and CIS

12 April 2013

CIMA Education

Samuel Li ACMA, CGMA

• Started his career as an Executive Trainee with

Jardine Matheson

• Studied CIMA under sponsorship of Jardines

• Worked as a Management Consultant since 2008

• Joined CIMA in 2011 as Study Support and

Learning Specialist

• Specialised in Enterprise pillar subjects (E1,2,3)

and T4 part (B)

• Base in Hong Kong with global responsibility

CIMA Education

• Syllabus overview (E1 and E2)

• How CIMA examines

• Exam Techniques

• ASAP walk through

• Study Resources

• Summary

Agenda

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Syllabus Overview – E1

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Syllabus Overview – E2

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CIMA Education

The Levels

Implement

decisions in the

Short-term

Analyse and ensure

successful

performance, in the

medium-term

Make long-term strategic

decisions and provide the

resources to implement them

successfully

Strategic

Operational

Management

First line

managers and

their teams

Middle level

managers

SMT

FocusCIMA Qualification

Levels

CIMA Education

5 – Evaluation

4 – Analysis

3 – Application

2 – Comprehension

1 – Knowledge

Advance

Basic

Verb hierarchy

CIMA Education

Skill examined for each level of exams

T4

Generally assessed at Levels 3 to 5

Application – Analysis – Evaluation

Strategic level


Application – Analysis - Evaluation

Management level


Comprehension – Application - Analysis

Operation level


Knowledge – Comprehension – Application

Certificate in Business Accounting


Knowledge – Comprehension

CIMA Education

Examination Format

• Paper based written exam

• 3 hours + 20 mins reading time

• Pass mark = 50%

Management

(E2, P2, F2)

A - 50%

5 Medium length Qs, short

scenario may be given

(10 marks each)

B – 50%

1-2 scenario based Qs

(worth 50 marks in total)

Operation

(E1, P1, F1)

A – 20%

10 MCQs

(2 marks

each)

B – 30%

6 Short Qs

(5 marks

each)

C- 50%

2 Scenario based Qs

(25 marks each)

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Common issues

Unable to

finish the

paper

Not

understand

the question

Wrong

answer

approach

Poor

answer

layout

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Exam Techniques

Good Time

Management

Using

reading

time

Knowing

the verbs

Plan your

answer

Please the

examiner

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50 marks out of 100 50% of available marks




Exam Techniques – Time Management

Allow 1.8 minutes per mark:

• 5 mark question – 9 minutes



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Exam Techniques – Using reading time

The examiners say……

“ There is little evidence that students are optimising the reading

time in order to score more marks”

Read the question requirements first!

Underline the verbs in the requirement

Annotate or highlight the question paper

Decide which questions to do and order to do

Open or write in the answer book

Use a calculator

Arrive late and miss the reading time!

CIMA Education

Level 1:

Knowledge

List

State

Define

Level 2:

Comprehension

Describe

Distinguish

Explain

Identify

Illustrate

Level 3:

Application

Apply

Calculate

Demonstrate

Prepare

Reconcile

Solve

Tabulate

Level 4:

Analysis

Analyse

Categorise

Compare and contrast

Construct

Discuss

Interpret

Prioritise

Produce

Level 5:

Evaluation

Advise

Evaluate

Recommend

Exam Techniques – Verb hierarchy

CIMA Education

• List – make a list of

• Describe – communicate the key features of

• Explain – state the meaning or purpose of

• Calculate – do the maths!

• Discuss – examine in detail by argument

• Evaluate – appraise or assess the value of

Exam Techniques – Verb hierarchy

CIMA Education

Exam Techniques – ASAP

The examiners say……

“Two of the main reasons why candidates lose marks are by

answering only part of the question, and by answering the

question they hoped for rather than the question asked.”

• Analyse the question‟s requirement

• Source your syllabus knowledge

• Analyse the scenario

• Plan your answer

CIMA Education

ASAP – Analyse the question’s requirement

(E1)P3 – March 2011May 2011 – Enterprise Operation Q3 Marks Time

(a) Describe the potential benefits of quality standard ISO 9000 certificate to

2TW

10 18 mins

(b) Discuss the factors that should be taken into account by the HR

department when redesigning the remuneration and reward package for

SBU managers

10 18 mins

(c) Suitable measure of performance for SBU managers will be designed as

part of the redesigning the remuneration and reward package. Describe

the desirable features of such measures

5 9 mins

Total 25 45 mins

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• Describe = Communicate the key features of

• 10 marks for part (a), so usually require 5 points (about 2 marks per point)

• Key terms are : “ISO 9000 certificate” and “potential benefits”

• Worth taking time to define key term such as “ISO 9000 certificate”

• 5 marks in part (c) means limited scope, expect 3 well explained points / 5 broader points

• Part (c) should focus on key features needed instead simply describing the role of

performance measure

May 2011 – Enterprise Operation Q3 Marks Time


2TW

10 18 mins




5 9 mins


(E1)

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• Discuss = Examine in detail by argument, i.e. 2 sides of argument

• “Discuss” is a higher level verb (Level 4) comparing to “Describe” (Level 2)

• Students are expected to make fuller points

• Consider the pros and cons of the factors

• Suggest to write 5 factors (2 marks per point)

• Always apply to the scenario given




SBU managers

10 18 mins


(E1)

CIMA Education

ASAP – Source your syllabus knowledge

(E1)Part (a) – Syllabus C – Operation Management

• The benefits of quality assurance in terms of eliminating the cost of

poor quality

• Distinction between quality control (QC) and quality assurance (QA).

ISO 9000 is a QA standard

• The benefits of certification and internationally recognised standard

Part (b) & (c) – Syllabus E – Managing Human Capital

• Incentive schemes – performance related pay, equity based etc.

• Non financial rewards

• Motivation theories – Maslow‟s hierarchy of needs

• SMART objectives

CIMA Education

ASAP – Analyse the scenario (E1)For part (a)Different operating efficiencies between SBUs

ISO 9000 requires an enterprise wide quality system – establish good practice

• Significant numbers of return goods which require replacement and reworking

waste money, loses existing customers and future referrals

• Pay bonuses on total sales generated

encourage short term focus, mis-selling and rush workmanship

ISO 9000 requires customers‟ needs to be properly identified and performance

measures to be introduced

For part (b) & (c) • Rapid growth in overall turnover but declining profitability over the past few years

Reward should be consistent with the aim of shareholders, i.e. long term profits

• Chief Executive fears a loss of control over SBU

Scheme must be transparent and easy to understand

• Current incentives are inappropriate

the target must be achievable but tough

CIMA Education

ASAP – Plan your answer (E1)May 2011 – Enterprise Operation Q3 Marks Time


2TW

10 18 mins

Benefits of quality standard ISO 9000 certification to 2TW:

• More efficient processes

• Emphasis on process perfection (QA) not detection and elimination (QC)

• Reduced (ideally eliminated) rework costs

• Higher quality output, improved customer satisfaction and retention

• Enhanced reputation leading to increased market share in Europe

• International recognition, opportunity to sell worldwide

• Spread good practice

CIMA Education

ASAP – Plan your answer (E1)

Factors to take into account when redesigning the remuneration and reward

package (five of) :

• Profitability – SBU profit achieved (consider time lag between action and result

and possible impact on motivation)

• Consistency with company objectives

• Achievable but tough

• Quality – percentage of goods returned (reduce by improved process)

• Controllability – factors controlled by SBU managers

• Include non-financial rewards (total reward management system)

• Individual vs Group measures – encourage cooperation between SBU

• Cost to measure performance




SBU managers

10 18 mins

CIMA Education

ASAP – Plan your answer (E1)

Desirable features of performance measures:

• SMART – Specific, Measurable, Achievable, Realistic and Time bound

• Link each element of SMART to 2TW with a brief example





5 9 mins

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May 2012 – Enterprise Management Q6 Marks Time

a Discuss the rationale for TFX Company moving to a shared service centre

model, including the benefits and any possible disadvantages.

13 23 mins

b Explain how TFX Company should develop and build the new finance

teams, if the move to a shared service centre goes ahead.

12 22 mins

Total 25 45 mins


(E2)

Listen to voice-over slide on CIMA website:

http://www.cimaglobal.com/en-gb/Students/Exam-preparation/Management-

level/E2-enterprise-management/Walkthough-answer/

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Exam Techniques – Please the marker

An example requirement:

“Explain the advantages and disadvantages of the

two alternatives proposed, clearly indicating which

one you recommend the company to accept.”

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Alternative 1

Advantages:

xxxxxxxxxxxxxxxxxxxxx

Disadvantages:


Alternative 2

Advantages:


Disadvantages:


Recommendation

The company should accept alternative 2.


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• Write neatly and legibly

• Use small paragraph and sub-headings

• Concentrate on the answers, not re-writing the questions

• Don‟t mix up different parts of an answer

• Space your work out

• Use blue or black ink

• Label your workings

• Cross out plans and errors

• Don‟t write notes to the marker!


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In summary common Errors

Operational Level Management Level Strategic Level

Lack of knowledge Relying on the

knowledge from

operational level

Recommendation not

adequately discussed

Poor formats In ability to discuss in

depth

Limited or unrealistic

options presented

Question spotting Totally Forgetting about

the business theories

and models

Doing it wrong

completely

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In summary while studying...

Operational Level Management Level Strategic Level

Know your theories Learn more Do not make petty

mistakes

Understand the

fundamental principles

Scenario reading

Learn the Proforma ,

formatting, answer

writing

Imagination ,

Spontaneity ,

professional competence

Link to scenario as to

why how.

Analyse, see both sides

of the coin

Conviction!

CIMA Education

Examination Format and Strategy (E1)

• 100% narrative, i.e. no calculation

• Most students do very well in Section A

• Fair performance in Section B

• Section C is always poorly answered

• Some people run out of time and did not complete the paper

• Time Management tips – Do section A during the reading time

• Use elimination method when not sure in section A

• Do section C before section B

Operation

(E1, P1, F1)

A – 20%

10 MCQs

(2 marks

each)

B – 30%

6 Short Qs

(5 marks

each)

C- 50%

2 Scenario based Qs

(25 marks each)

CIMA Education

Examination Format and Strategy (E2)

• All questions are compulsory

• Use reading time to skim read all questions and scenario

• Always read the requirements first

• Decide on the order, start with a question you are confident

• Make a brief answer plan

• Strict time management – 1.8 mins per marks

• Write enough – 10 marks question = 1-1.5 A4 page

• Avoid bullet points, use short paragraphs with headings

Management

(E2, P2, F2)

A - 50%

5 Medium length Qs, short

scenario may be given

(10 marks each)

B – 50%

1-2 scenario based Qs

(worth 50 marks in total)

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Study Resources

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Text book

Kaplan & Elsevier BPP

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CIMAstudy.com

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Past exam papers & answers

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• 2005 Syllabus past papers require login to MY CIMA

• Select „Student Information‟ links

• Examiner‟s answers are NOT written under exam condition

• They are fuller and more comprehensive than would have been

expected from a well-prepared candidate.

• They have been written in this way to aid teaching, study and

revision

• Use in conjunction with Post Exam Guide

Past exam papers & answers

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Post Exam Guide

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Post Exam Guide

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Past exam questions by learning outcomes

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Past paper questions analysed under learning

outcomes of the full syllabus

o Gives a feeler as to how learning outcomes are

tested

o Practice questions after each learning outcome

is studied

o Can identify knowledge / skill gaps.

Past exam questions by learning outcomes

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Financial Management Magazine

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FM Magazine – May 2011

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E2 Exam Q4 (May 2011)

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www.fm-magazine.com

FM Magazine - Online

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FM & Velocity articles

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CIMAsphere

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CIMAsphere

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CIMAsphere – Discussion / Groups

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CIMAsphere - Blogs

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Ask a Tutor Event

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Video on exam techniques and Study tips

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Self Study Guide

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Students page on CIMA Global website

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Summary

PASS

Syllabus (Knowledge)

Past question practice

(Technique)

Mock Exam

(Confidence)

Syllabus

Text book

FM magazine

Past papers

Examiner’s answer

Post exam guide

Velocity (e-magazine)

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• Practise previous exam questions

• Apply your knowledge to the scenario

• Strict time management

• Self-confidence

Summary

CIMA Education

• Practise previous exam questions

• Apply your knowledge to the scenario

• Strict time management

• Self-confidence

Summary

Documents

CIMA Exam Techniques Workshop E1 and E2, Russia and … locations docs... · CIMA Exam Techniques Workshop E1 and E2, Russia and CIS ... 1 –Knowledge Advance Basic ... F1) A –20%