Maximise your chance of exam success

Sarah McAleese, CASSI Education Officer, explains her top tips for exam success this summer

Preparing for Chartered Accounting exams, be it CAP1, CAP2 or FAE, can feel daunting. While successful preparation demands a high level of discipline and strategy, whether it's an open-book or closed-book exam, understanding the exam structure, including the format, types of questions, and the weighting of each topic, is crucial to effectively prioritise your study efforts and appropriately allocate your time throughout study leave and during the exams themselves.

Know your stuff

Having a good idea of the scope of what needs to be covered will aid you in developing an effective study plan. Be sure to refer to the Competency Statements and recent examiner reports as they can provide a good indication of key topics which may appear on the exams.

Time management

Efficient time management is crucial, and practice is vital for building confidence and improving your performance. 

Work through a variety of practice questions and sample papers to familiarise yourself with the exam format. 

It is vital that you practice answering questions under timed conditions and that you become well versed with the Cirrus platform to improve your speed and efficiency on the day.

The misleading ‘open-book’ exam

For CAP2s and FAEs, open-book exams can be slightly misleading. Despite having access to study materials, it is still essential that you have a deep and thorough understanding of the core concepts and principles. 

Start by organising your study materials in a clear and accessible manner so you can effectively locate and reference the information on exam day. It can be easy to overlook the narrative questions, so be sure to identify any low hanging fruit and not allocate all of your time to the more computational questions.

Stay healthy

Lastly, ensure that you take care of your physical and mental well-being during exam season. Get regular exercise, eat a balanced diet, and get sufficient sleep to keep your mind and body in optimal condition. 

Managing stress and anxiety is also important. Ensure that you are still being social and making time to see friends. Consider forming a study group and utilising the discussion forums to share ideas gain insights and support from peers preparing for the same exams.

Effective preparation for both open and closed-book professional exams requires a well-structured study plan, effective time management, and ample practice under exam conditions. 

By adopting a strategic and disciplined approach to your preparation and taking care of your physical and mental well-being, you can maximise your chances of success and achieving your goal of passing your exams.