PcM Study Material

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    Kurt Fanderclai (Edited )

    Hi Dennis,

    I will be taking PcM this week, and have had the same concerns regarding the financial calcs.  However, take a look at Daniel O.'s notes on this link -- Daniel passed it, by the way:

    https://are5community.ncarb.org/hc/en-us/community/posts/115006062707-Formulas-for-Financial-Management-in-AHPP 

    Most here seem to indicate that the "business accounting" we'll be asked to perform on the test is more of the conceptual, 30,000 foot overview.

    Have you read the AHPP Chapter 7 on financial management?  Good review material in there.

    Good Luck! 

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    Dennis Dragon

    Thanks!  I am scheduled to take it in a few weeks as well.  I just ordered the AHPP yesterday and will review when it arrives.  Good luck to you!

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    Rosemarie Maxwell

    Hello Kurt/Dennis,

    I took my Exam on Tuesday and failed I got a Level 3 in all areas.  I'm not sure where I'm going wrong. I found what gave me the most trouble was the questions with calculations.  Especially the questions in the last section of the exam.  Any tips on how to answer these questions. How much time is required for the last 20 questions etc. Can any of you guys give me some direction on what to study to do better next time around.

    Rose

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    Rosemarie Maxwell

    Hello Kurt/Dennis,

    I took my Exam on Tuesday and failed I got a Level 3 in all areas.  I'm not sure where I'm going wrong. I found what gave me the most trouble was the questions with calculations.  Especially the questions in the last section of the exam.  Any tips on how to answer these questions. How much time is required for the last 20 questions etc. Can any of you guys give me some direction on what to study to do better next time around.

    Rose

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    Rachel Gubser

    I highly recommend the Schiff Hardin lectures, free downloads, and the AHPP (focus on chapters/ subject matter you know you are weak in).

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    Rosemarie Maxwell

    Hi Rachel,
    Thanks I'm using the AHPP 14th edition do you think I need to get the 15th edition before retaking the exam?

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    Dennis Dragon

    Rosemarie, I took the test two weeks ago and had the same results.  The Ballast material got me familiar with all of the questions and concepts, but it was the formulas and actually braking down the financial situations that probably held me back from passing.   I am going to look into the AHPP and retake this exam in July when available. 

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    Daniel Ostfeld

    Hi Rosemarie and Dennis,

    As a lot of people, I started studying using ballast 5, don't get me wrong, it is a great source with many errors (btw I felt much more comfortable when I knew that ballast was wrong in more than one question, it tells you, that you know your s***). However after 3 exams under my belt, I can tell you that the exams seems more align with the matrix materials that ncarb suggested.

    For PcM I would highly recommend using plurasight lectures from Kevin G. They are an excellent way of reviewing all the material covered in the exam. He uses AHPP as the major component for the lectures. As Kurt mention before, I wrote a longer post explaining the idea behind the financial aspects of the firm.   

    I also been using a lot blackspectacles videos. At the beginning I didn't like them so much, but now I understand that is more like a class, it is a great way to supplement the study materials and take your mind out of the books for a bit.

    Hope it helps, good luck everyone!!

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    Rosemarie Maxwell

    Hi Daniel,

    Thank you so much this was very helpful. 

    Rose

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    Erica Spayd

    Here's what I studied for PcM:

    AHPP, 15th Edition: I read the following chapters and made flashcards of key terms/concepts as I went along: 1, 2, 3, 5, 7, 8, 9, 12, 15, 16, 17.

    I also made a matrix to help me study and understand the financial terms. I just shared it in another thread about this exam, but here it is again: https://www.dropbox.com/s/8tui1pe6v0g8o5n/FinancialTerms.pdf?dl=0

    Schiff Hardin Lectures: I'm sure the whole series is helpful, but I listened to lectures 6, 7, 11, and 12. Note: this is not passive listening material! Have the AIA documents printed, and make notes (or flashcards) as you listen. I tried listening while working out, driving, walking, and working, and found myself listening to them again when I was able to take notes. Link to the lectures: http://www.schiffhardin.com/professionals/attorneys/d-i/hanahan-michael-j/hanahan-lecture-notes-2016

    Ultimately, I had all of my key terms in my flashcards or on my financial matrix, and that's what I crammed with down to the wire. I used a flashcard app (Flashcards+ by Chegg), which was great because a.) I did a lot of studying on my commute and handwritten flashcards would have been a mess, b.) I saved time by using talk to text (if you do this, proofread! the technology isn't perfect, but it does save time if you can talk like a robot), and c.) syncs across multiple devices, and allowed my to have my deck with me everywhere I went.

    I didn't use any third party stuff, didn't take any practice tests, just focused on the objectives using the above strategy, and got a first time pass. 

    Hope this is helpful, and good luck!

     

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    Makenzie Leukart

    Erica, thanks so much for your resources for financial terms.

    Just wondering, what does the KLI and KPI stand for in the first column

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    Brittany Swasey

    I'm pretty sure it means "Key Line Items" and "Key Performance Indicators"

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