Probably more of a rant than a real question but, I've been noticing from doing past papers and problems that it takes a very long time to earn the marks especially with complex project evaluations (i.e. NPV calculations involving multiple annuities, etc). Even when I set up the models perfectly, they still take a long time to actually solve. Is that supposed to be the case or am I just poorly prepared for whatever reason? Whatever the case, what tips regarding speeding up can you share?
By way of example, I sat a past paper where I ran out of time. I then finished the exam anyway using an extra half hour and ended up getting 97%. It was a bittersweet moment.
Yeah it takes time but you can speed up by practising the use of table book and the table function from the calculator. Try a full paper and check if you can finish it in time. Then see where you went wrong and what took the most time.
Using the tables to calculate annuities can speed things up, also making use of memories on your calculator to store values saves you having to re-enter values. Calculating an annuity by typing \(1-1.05^{-3}\) is faster than typing it other ways. Otherwise it's just practice, practice, practice.
Keep calm. The more you stress and start thinking this is taking ages the worse the issue becomes. Remember if you work out theoretically time per qn based on %marks, its not accurate. Some written answers will be relatively quick. Know your formulae too is another tip - you don't want to have to look them up. Remember you now have reading time so if these are the ones you dislike at least you can use that time to write down the equation but not start evaluation. Getting the timeline figured is a big help
How short of time were you?you can pass without fully completing the exam though you should try to do so. Never leave a full qn unanswered
Thanks a lot for the tips. So far, to recap (and for the benefit of other people in the same boat), my understanding is that, to get faster: 1. Practice lots of problems (i.e. study hard, duh) 2. Take advantage of reading time to select easy and quick ones in the exam first 3. Use the orange book if possible 4. Get good at your calculator Any other tips, let me know. Others may appreciate too. Cheers!
