Examination Tips By Chairman, Board of Studies ICAI

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As of now, you should be in full swing in your preparation for the May examinations. You need to prepare for the examinations with full seriousness and earnestness to achieve success. Our examination is generally perceived to be difficult. I do agree that, CA examination is not easy, but do not make it difficult without adequate preparation.

This is not only the case with the examination, but is true with all significant issues in life. Set your goals, plan, work hard and conquer. Success has no reservations, it is for those who dream of it and work for it. There is no substitute for hard work. In the words of Mahatma Gandhi “The future depends on what we do in the present”.

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PLANNING IS THE CORNER STONE FOR SUCCESS

A good plan implies a good beginning. A goal without a plan is just a wish. Translate your wish into an actionable plan to succeed. There is no mantra for success devoid of smart work. It is imperative to plan your studies focusing on your examination. You are required to ensure systematic study to qualify the so called difficult examination. Planning should cover your timing, hours of study, topics to be covered, strategy for retrieval and finally how to make an impressive presentation in your answer book. I’m reminded of the words of Benjamin Franklin “If you fail to plan, you are planning to fail”. Instead you should plan to win. It is better late than never.

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STRATEGIC STUDIES

Strategy for your studies is equally important considering the voluminous syllabus. Your approach to study can make a difference. One should be conscious of the following three things;

(I) WHAT TO STUDY

The syllabus and weightage of marks, trend in past question papers and study material will give an overall idea about what to study.

(II) HOW TO STUDY

It is advisable to allocate your available time into  3 buckets, first revision covering 50% of your study time, second revision should target in 30% of the time and the third and final covering the balance 20% time.

During your 1st revision, you should complete the reading of your study material cover to cover. While doing so, please do highlight the important contents of each chapter. When youtake a non-theory paper, you should carefully understand the concepts and based on that solve all illustrations. During your 2nd revision you should be able to prepare your study notes out of the segregated contents. One should complete all problems in the practice manual without referring the solution, in the case of subjects other than theory. Please identify only those problems where you got stuck for your final revision. Don’t waste your time on a problem which you could solve at the first instance. The final round should help you to reproduce your understanding on any topic you have been examined.

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STUDY FROM STUDY MATERIAL

The cardinal principle for success in CA exam is to study from study material and is imperative. That is why the Institute provides you with quality material. Don’t get carried away with private coaching notes which necessarily need not cover the whole of the study material.

I was a member of the examination committee for two years and I can assure all of my friends in the students’ fraternity that you will not find a question for which the answer is not covered in your study material. You may study beyond study material for a wider understanding.

Unless you practice intensely you may not gain the required speed and expertise to face the examination confidently especially in the case of non-theory papers. The Board of Studies gives you exclusive practice manual for all subjects. If you are able to solve all problems in the practice manual and past 10 years question papers, without the aid of answer key, your success in exam is certain.

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BOARD OF STUDIES INITIATIVES FOR STUDENTS

BOS cloud campus at the ICAI website is a reservoir of information whether it be study material, practice manual, revision test papers, suggested answers, audio- video lectures, analysis of the comments of the examiners on the past exams so on and so forth, the online e-resources are innumerable. You can log in with your student registration number (WRO/ SRO etc.). Please don’t miss it. This Learning Management System has a comprehensive coverage and also exercises and instant evaluation. Subject wise CDs are also available  for those who do not have online access, for a nominal fee per subject.

Before the crucial test, undergo few exams at your home. Set your questions, answer it under exam conditions, do a selfevaluation and find out where you stand. One of the major deficiencies among today’s students is that, they lack writing skills and even the patience for sitting through under exam conditions for 3 hours. Command over English language is lacking. You may be aware that, the Board of Studies regularly organises mock test before the examinations, at almost every branch of the Institute. It is a matter of great concern that only a handful of students utilise this facility to assess them of the preparedness. I strongly recommend all of you to make use of this golden opportunity.

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III HOW TO WRITE THE EXAMINATION

ART OF WRITING EXAMINATION

It is of paramount importance how you write the examination or how you present your answers. Always keep in mind, what you are expected to study in 18 months is going to be examined in 3 hours and will be evaluated in less than an hour.

“I would advise you to read the questions carefully, understand the requirements of the questions and the issues involved before answering. You should answer to the question with clarity and what is relevant rather than what you presume.

As in the case of first impression is the best impression, your first answer should be the best answer. Don’t be under the false impression that one need to stick to the serial order of the question paper, but don’t forget to indicate the serial number legibly. Your introduction and conclusion to any answer should contain the crux of the question in an impressive and effective manner. Every point can start with a paragraph and may even highlight if you want to draw the specific attention of the examiner.

Refer relevant case laws, legal provisions of the concerned legislations and Accounting/ Auditing Standards provided you are sure of. Don’t forget to give working notes wherever necessary instead of venturing out to direct answer.

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FACE THE EXAM WITH CALM

Be at the exam venue at least 15 minutes before the start. Only a calm mind can comprehend, recapitulate and reproduce. While writing exam peace of mind is paramount. Effectively utilize the pre-start 15 minutes to plan meticulously. Allocate available time to each question leaving a cushion of at least 20 minutes to face any contingency. At the end quickly review your answers, take stock of the situation and do what is best possible in the remaining time. Do not leave any question unanswered entirely unless and until you have no clue. Similarly, do not answer any question when you are blank, giving an opportunity to the examiner to assess the depth of your ignorance.

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ENJOY THE POWER OF POSITIVE THINKING

“If you think you can – you can! If you think you cannot – you cannot! and either way…you are right”- Shiv Khera. If you don’t believe in yourself who else will? Your success in exam depends on your decision and determination to succeed. Be positive and it can do wonders in all your endeavours. Your hard work combined with positive thinking will lead to success.

Till last minute of the last examination, it is all in your control. You should not leave hope even if your performance at some stage was not at your expected level. Some of the students, during the examination, fear for the worst and make more mistakes. If you possess the spirit of positive thinking, nothing can stop you from achieving your goal. With sincerity, enthusiasm, determination, dedication, consistent performance and hard work, any student can become a Chartered Accountant.

Follow the advice of Dr. APJ Abdul Kalam “To succeed in your mission, you must have single minded devotion to your goal”. I firmly believe that, if you are able to follow what is written above, you will come out in flying colours in your exams. All the very best, success is yours.

CA. BABU ABRAHAM KALLIVAYALIL

CHAIRMAN, BOARD OF STUDIES, NEW DELHI