Credit Management Exam Part 1

rebecca2rebecca2 Feels At HomeRegistered Posts: 49
Hi All

Has anybody taken the multiple choice Part 1 exam? Could anybody tell me whether this CBE is exactly the same as the practise CBE's on MyAAT?

I've found in this unit some of the wording is very difficult and does not particularly tell you what answer it wants - could anybody give me any pointers regarding this as to when they sat their exam if they came across any difficulties?

Thanks, Rebecca X

Comments

  • Louise89Louise89 Trusted Regular England, UKMAAT Posts: 296
    Hey Rebecca,

    I'm sitting this exam next week and my tutor told me it is pretty similar to the practice CBT on AAT, obviously not exactly the same but the same style questions.

    I think you just have to study the concepts and know how to apply them, since the questions are rather wordy. i have had to re-read the questions and answers to understand what its asking. :) Keep at it x
  • guinea pigguinea pig Trusted Regular Registered Posts: 402
    Hi Rebecca & Louise,
    Yes, its very similar to the practice CBE, and you MUST read the questions carefully, they seem to have lots of double negatives, if that makes sense? (it reminded me of the professional ethics exam) As you rightly say, you need to be familiar with the concepts, and then it should fall into place fine. And the good news is that you get an instant result!
    Good luck
    GP
  • Louise89Louise89 Trusted Regular England, UKMAAT Posts: 296
    guinea pig wrote: »
    Hi Rebecca & Louise,
    Yes, its very similar to the practice CBE, and you MUST read the questions carefully, they seem to have lots of double negatives, if that makes sense? (it reminded me of the professional ethics exam) As you rightly say, you need to be familiar with the concepts, and then it should fall into place fine. And the good news is that you get an instant result!
    Good luck
    GP

    I can't wait! Is part 2 difficult?
  • guinea pigguinea pig Trusted Regular Registered Posts: 402
    it depends how much you may have already learnt via your job etc, I was fortunate in that I had covered quite a bit of the syllabus before, although sometimes that can hinder, and you have to learn THEIR model answers for dealing with situations!
    I am now really struggling with Financial Performance, and variances. In comparison, Credit Management was fine!
    GP
  • Louise89Louise89 Trusted Regular England, UKMAAT Posts: 296
    Hmm, I have done a bit at work, but I guess I can try and forget about it and learn AAT's answrs :D

    Oh dear, I hope it isn't that hard?! I guess we have just got to knuckle down and study! We are so close to being MAATs!
  • rebecca2rebecca2 Feels At Home Registered Posts: 49
    Hey guys - thanks for the tips and support! I took my Part One exam today and passed :lol:

    Louise - I had a question with the calculation that you helped me on the other day - thank you for the help, I knew I'd answered correctly after going thru it the other day!

    We are very close to becoming MAAT's - I can see the light at the end of the tunnel now. The e-project and FinPer left to go. What do you have left?
  • Louise89Louise89 Trusted Regular England, UKMAAT Posts: 296
    rebecca2 wrote: »
    Hey guys - thanks for the tips and support! I took my Part One exam today and passed :lol:

    Louise - I had a question with the calculation that you helped me on the other day - thank you for the help, I knew I'd answered correctly after going thru it the other day!

    We are very close to becoming MAAT's - I can see the light at the end of the tunnel now. The e-project and FinPer left to go. What do you have left?


    Congrats!! When are you doing part 2?

    I'm doing part 1 & 2 next saturday... so grateful you get the results straight away for part 1! :)
  • katie2008katie2008 Trusted Regular Registered Posts: 294
    Well done,

    I am sitting part 1 on Monday. Hoping it goes ok.

    its part 2 I am worrying about! Last exam before baby arrives I think. Financial Statements will have to wait now!
  • guinea pigguinea pig Trusted Regular Registered Posts: 402
    Congratulations Rebecca!
    Good luck Louise & Katie.
    Yes, its great to see that bit of light at the end of the tunnel, I've just got Personal Tax, and Financial Performance to do, but they seem quite a challenge at the moment!
    GP
  • rebecca2rebecca2 Feels At Home Registered Posts: 49
    Thanks guys :001_smile:

    Louise - I'm hoping to sort something for me to take Part 2 supervised in my workplace next week. Good luck next Saturday for your exams!! Let me know how you get on after?

    Katie - congrats on the baby! And good luck on Monday for Part 1! All I can say is read the questions carefully to understand what they are asking, I think loads of people have said the questions are pretty wordy but once you apply what you know, things start falling into place and you'll feel confident!

    GP - when are you hoping to take your exams? Are you studying both units together? Keep going with them, you know you are capable and very soon will be a MAAT! 'Graduation Ceremonies' for us all :001_smile:
  • katie2008katie2008 Trusted Regular Registered Posts: 294
    Thanks Rebecca,

    not long got back from the exam centre (its 72 miles each way!!) and I passed part 1. Submitted my data for part 2.. Just got to see how long the results take to come back.

    And then there were 3 exams...
  • guinea pigguinea pig Trusted Regular Registered Posts: 402
    Congratulations Katie,
    Which 3 do you have left?
    I'm now scheduled to take Personal tax at the end of March, and Financial Performance at the end of April - so am hoping like mad that I can get time to study, and get them passed. There 's lots to learn for the tax, which I feel is do-able, but tedious, however the Fin Per is proving a bit of a nightmare - I'm really struggling with the variances!
    Have a good day
  • katie2008katie2008 Trusted Regular Registered Posts: 294
    Good morning Guineapig

    I have

    financial performance (failed 3 times on section 2 so it got shelved in favour of Crmc),

    financial statements (which I havent even started)

    and another optional (either taxes or auditing, tried both taxes before didnt get on well with them).

    Not sure what to do now, or when to start another unit. I have 10 weeks before baby arrives (or at least due to), not sure whether to start another unit or just have a few months off.

    I have the work books but would I have to pay for the books again and register as a distance learner for each unit, or is there a way I can just book in for an exam?
  • rebecca2rebecca2 Feels At Home Registered Posts: 49
    Congrats on passing Part One Katie! At least the journey was worth it - what a journey though!! What data did you submit for Part Two? I wanted to take the e-project asap but looks like I'm having to wait until mid-March to take it supervised at my work place. Until then I'm beginning with Financial Performance.

    I feel your pain Guinea Pig! A few things cross with Budgeting with Fin Per, but reading through the text it's so repetitive (standard costing for actual production, actual costing for actual production) it becomes confusing at times! How are you getting on with Personal Tax?

    For my other optional unit I chose Auditing Katie. I found it pretty simple however this topic actually interested me more (weirdly) so maybe that's why. Are you with a distance learner now or in college? I am currently with a distance learner, but I do know that you can just buy the textbooks you require, and book the CBE with a centre that takes External Candidates avoiding the distance learner fees if you feel confident enough.
  • katie2008katie2008 Trusted Regular Registered Posts: 294
    it was a long journey, but worth it.. lots of time on the train!!

    I did level 2 & 3 at college, and got half way through level 4 at another college, but the tutor was useless and none of us passed. Since then I have been doing it on a unit by unit basis via distance learning.

    I will have to look into the external candidate thing, as I already have the books from first time around, and would rather only pay for the exam.

    Many thanks :)
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