Hi, If stuck for time in the exam, should you focus more on writing a good audit trail and summary rather than finishing the model eg. leave out the additional information? Since the audit trail and summary make up most of the marks, this seems reasonable. But the audit trail and summary won't be complete unless all the model parts have been finished. Does not finishing the model (and hence audit trail and summary) result in a fail? Thanks.
Without the model, I can see one losing marks in the following areas in summary: 1) Results & inference 2) Charts 3) Some parts of further steps and the audit trail part that's left incomplete - along with the spreadsheet itself. I'm guessing from the marking scheme that this will result directly in about 10-25 odd marks deduction (depending upon how much/well you do). Acted tutors, please correct me if I'm wrong here.
I would certainly say focus on writing a good audit trail and summary rather than polishing the model, i.e. don't spend ages checking it if it's giving funny answers and don't spend too much time formatting it. I'm not sure the consequences of not finishing the model are predictable enough to have that as a strategy if you're pushed for time.
Definitely concentrate on the audit trail and summary over completing your model. If you can see that you aren't going to get the model finished then write up in your audit trail how the model was supposed to operate i.e. which parts are missing and what they would do. Try to give the examiner as much information as possible that lets them know that you knew what you were doing, you just ran out of time.
I think the best way is to do your audit trail as you go along. If you are running out of time then at least your audit trail for the parts of the model you have done should be up to standard. As long as you document in your summary that you know that the model needs to be completed rather than ignore the fact you have missed parts of the model out then that should work in your favour. I took the exam a few times before I passed it and the best timing I did was when I completed the model and audit trail before lunch, as well as noting down in my reading time suggested next steps. Then after lunch I got the additional part of the model done from the additional material, which if your model is ok in the first place shouldn't take long at all. Then I spent the rest of my time on the summary in the afternoon. I also think you should draw up a plan of what your model will roughly look like and ask the examiner if that is ok or not. You will lose minimal marks for that and they may be able to prevent you going down a path whereby you will be struggling to finish the model. Plus if the model is ok and they just say yes that is fine, I don't think you lose marks anyway.
