What do you think are the best resources to understand the financial problems for Practice Management, please?
Financial Problems such as:
- Net Multiplier
- Profit to Earnings Ratio
-Aged Accounts Receivables
are concepts that I am trying to understand better before taking the Practice Management Exam. I know there's a lot of them in the case studies. However, I am not yet finding good resources explaining them. I usually understand videos best... Can anyone help with that, please?
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Thara ~ I too am having a very tough time understand this topic; whereas, I am positive that I am "over-thinking" them; imagine that, right? Here is a link that I created last year that helps me to "memorize" the financial matrix; however, I too need actual "case study exam prep" problems for which to practice over-over, can anyone assist us?
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https://hyperfinearchitecture.com/pcm-practice-test/
This is a link to Eric Walker's PcM full practice test. I bought it to get more in depth practice with the financial aspects, and as an added practice test. The math problems are tough, but he goes through a step by step walkthrough of the logic behind it and the equation work-though that I find very helpful!
Worth it if you are struggling with the equations like I was. -
CUDOS: Wanted to share this, so everyone can LAUGH at the semantic.
Bidding Phase: When considering alternates, type of alternate reduces the base bid amount?
Deduct-alternate
Add-alternate
Base-alternate
Reduce-alternate
I will get this wrong every time.
Show me what document defines the difference between "reduced" and "deducted"? Come on, REALLY????
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AN impressive one, BEST of the worst: here's another funny:
Architect uses shop drawing to improve the quality of the design (THIS IS AGAINST ALL RULES OF AIA A201 ARCH WILL NEVER DO THIS), thus adding more cost/time to the project. What should the Contractor do? (I AM NOT TAKING THE GC TEST, I AM WISHING TO BECOME AN AGENT TO THE OWNER, WHY PUT ME IN THIS ROLE?)
1./ Complain to the Owner
2./ Reduce labor costs by requesting competing bids from Sub-Contractors
3./ Request a change order
4./ Complete the work as per the shop drawing
if you want the answer, find me @
paul
e
. voxstudio
"at"
g
mail.communications
what a joke question, do laugh with me!!!
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Please consider me cra at this point, crazy with passion like most to achieve, not step backward:
Here's a post that is sure to rise temperatures; hopefully full of love, light, and prosper:
https://are5community.ncarb.org/hc/en-us/community/posts/360049308853-CE-EXAM-How-many-days
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