Learn to study, study to learn: Tips to improve your exam preparation process

Knowledge: The basic memorization of facts, formulas and figures. Comprehension/application: The application of a formula given a set of prevailing circumstances. Analysis/synthesis: The drawing of conclusions from the application of the information (for example, is a security overvalued or undervalued?). Evaluation: The candidate must voice his or her own opinion and recommend a course of […]

By Brian Y. Gordon | October 1, 2004 | Last updated on October 1, 2004

3 min read

Knowledge: The basic memorization of facts, formulas and figures.
Comprehension/application: The application of a formula given a set of prevailing circumstances.
Analysis/synthesis: The drawing of conclusions from the application of the information (for example, is a security overvalued or undervalued?).
Evaluation: The candidate must voice his or her own opinion and recommend a course of action (such as, sell the security because it is overvalued).

By actively practicing sample questions, you will begin to see how the concepts will be tested. You can equip yourself with the ability to make the link between reading the learning objectives and putting what you’ve learned to the test.

• • •

Be sure to check back to Advisor.ca in the coming months for more insider tips and tools from Brian Gordon on getting the most out of your studies.

• • •

Brian Y. Gordon, CFA, MBA, FCSI is a professor of accounting and finance in the Faculty of Business at Centennial College. He is also managing director of Oliver’s Seminars, an independent provider of financial industry exam preparation courses, investment sales training and specialty learning workshops. Exam questions and comments are welcome at brian@oliverpublishing.com.

10/01/04

Brian Y. Gordon

Knowledge: The basic memorization of facts, formulas and figures.
Comprehension/application: The application of a formula given a set of prevailing circumstances.
Analysis/synthesis: The drawing of conclusions from the application of the information (for example, is a security overvalued or undervalued?).
Evaluation: The candidate must voice his or her own opinion and recommend a course of action (such as, sell the security because it is overvalued).

By actively practicing sample questions, you will begin to see how the concepts will be tested. You can equip yourself with the ability to make the link between reading the learning objectives and putting what you’ve learned to the test.

• • •

Be sure to check back to Advisor.ca in the coming months for more insider tips and tools from Brian Gordon on getting the most out of your studies.

• • •

Brian Y. Gordon, CFA, MBA, FCSI is a professor of accounting and finance in the Faculty of Business at Centennial College. He is also managing director of Oliver’s Seminars, an independent provider of financial industry exam preparation courses, investment sales training and specialty learning workshops. Exam questions and comments are welcome at brian@oliverpublishing.com.

10/01/04

(October 2004) I am often asked by my students to describe the “best” way to prepare for a financial industry exam, such as the Canadian Securities Course, the Certified Financial Planners Professional Proficiency Exam or the Chartered Financial Analyst Exams.

My reply is simple: Study actively not passively!

Breaking it down

The backbone of an active study plan involves creating a systematic study schedule that breaks down the required body of knowledge into more manageable segments. This can be done by chapter or specific topic.

Give yourself a “pre-test” to find out where your knowledge lies. This will help you identify your strengths and weaknesses. Now you are ready to focus your study efforts on the topics you don’t fully understand.

Zoning out

I recommend students leave their comfort zone. You must learn to trust the knowledge you have. For example, if economics is one of your strengths and you are consistently scoring high marks on sample questions, leave it.

Trust yourself: if you know it now, you will know it on exam day — a quick review to maintain your knowledge is all that’s required. Focus your study efforts on a new topic — one that lies outside your comfort zone.

Testing, testing

Make sure you allocate sufficient time to complete your study segments. I suggest 45 minutes per segment.

Try to complete one segment at a time. Then, check your comprehension by actively writing sample test questions. Writing as many sample exam questions as you can is a simple and effective study method that is often overlooked by students.

Many industry exams, including the CSC, CFP, level one CFA and LLQP are 100% multiple choice. This provides the examiners with the ability to test not only simple recall of facts, but also analysis and application of the course concepts. Simply reading and repeating the material is not enough; you must be able to apply your understanding to concepts on the exam.

Levels of learning

There are four cognitive levels of learning:

Knowledge: The basic memorization of facts, formulas and figures.
Comprehension/application: The application of a formula given a set of prevailing circumstances.
Analysis/synthesis: The drawing of conclusions from the application of the information (for example, is a security overvalued or undervalued?).
Evaluation: The candidate must voice his or her own opinion and recommend a course of action (such as, sell the security because it is overvalued).

By actively practicing sample questions, you will begin to see how the concepts will be tested. You can equip yourself with the ability to make the link between reading the learning objectives and putting what you’ve learned to the test.

• • •

Be sure to check back to Advisor.ca in the coming months for more insider tips and tools from Brian Gordon on getting the most out of your studies.

• • •

Brian Y. Gordon, CFA, MBA, FCSI is a professor of accounting and finance in the Faculty of Business at Centennial College. He is also managing director of Oliver’s Seminars, an independent provider of financial industry exam preparation courses, investment sales training and specialty learning workshops. Exam questions and comments are welcome at brian@oliverpublishing.com.

10/01/04

(October 2004) I am often asked by my students to describe the “best” way to prepare for a financial industry exam, such as the Canadian Securities Course, the Certified Financial Planners Professional Proficiency Exam or the Chartered Financial Analyst Exams.

My reply is simple: Study actively not passively!

Breaking it down

The backbone of an active study plan involves creating a systematic study schedule that breaks down the required body of knowledge into more manageable segments. This can be done by chapter or specific topic.

Give yourself a “pre-test” to find out where your knowledge lies. This will help you identify your strengths and weaknesses. Now you are ready to focus your study efforts on the topics you don’t fully understand.

Zoning out

I recommend students leave their comfort zone. You must learn to trust the knowledge you have. For example, if economics is one of your strengths and you are consistently scoring high marks on sample questions, leave it.

Trust yourself: if you know it now, you will know it on exam day — a quick review to maintain your knowledge is all that’s required. Focus your study efforts on a new topic — one that lies outside your comfort zone.

Testing, testing

Make sure you allocate sufficient time to complete your study segments. I suggest 45 minutes per segment.

Try to complete one segment at a time. Then, check your comprehension by actively writing sample test questions. Writing as many sample exam questions as you can is a simple and effective study method that is often overlooked by students.

Many industry exams, including the CSC, CFP, level one CFA and LLQP are 100% multiple choice. This provides the examiners with the ability to test not only simple recall of facts, but also analysis and application of the course concepts. Simply reading and repeating the material is not enough; you must be able to apply your understanding to concepts on the exam.

Levels of learning

There are four cognitive levels of learning:

Knowledge: The basic memorization of facts, formulas and figures.
Comprehension/application: The application of a formula given a set of prevailing circumstances.
Analysis/synthesis: The drawing of conclusions from the application of the information (for example, is a security overvalued or undervalued?).
Evaluation: The candidate must voice his or her own opinion and recommend a course of action (such as, sell the security because it is overvalued).

By actively practicing sample questions, you will begin to see how the concepts will be tested. You can equip yourself with the ability to make the link between reading the learning objectives and putting what you’ve learned to the test.

• • •

Be sure to check back to Advisor.ca in the coming months for more insider tips and tools from Brian Gordon on getting the most out of your studies.

• • •

Brian Y. Gordon, CFA, MBA, FCSI is a professor of accounting and finance in the Faculty of Business at Centennial College. He is also managing director of Oliver’s Seminars, an independent provider of financial industry exam preparation courses, investment sales training and specialty learning workshops. Exam questions and comments are welcome at brian@oliverpublishing.com.

10/01/04