Joined: Mar 2012
Wednesday June 26, 2013 9:41 AM
May Allah’s peace and blessings upon you.
Dear friends I have passed CIA part 3 exam and now I am a CIA finally. I am sharing my experience so that it will be helpful to students still going to appear under old course format. I found CIA Part 3 the most difficult part of CIA, both in study text/software and the real exam.
Real Exam experience :
Unlike part 1 or part 2, the questions I encountered some hours ago for part 3 exam were unseen for me and tested core concepts. In part 2, I finished the exam 1 hour earlier with only 2 marked questions. But today I almost ran out of time and had marked around 25 questions that confused me. I don’t think even 10 questions matched Gleim questions word by word but majority of questions were similar to Gleim questions and tested core concepts. Not even 8 questions were numerical – 4 of which were normal breakeven questions and 4 very basic accounting question such that if you can’t answer them you better shoot yourself and there was one simple NPV question too.
Remember its Gleim study text and software wherever I use the word text or software. You will not feel CIA Part 3 that much difficult if you follow this strategy. I was tested in this % and would advise you to prepare in this order
2)Business Process(Focus on TQM) 25%
3) Economics 15%
4)Finance & Managerial Accounting 20%
Start and rule IT chapters 8,9,10 by heart and by brain. You must know each and everything inside it and ‘understand’ the true concept behind it. I know it is very boring but remember that these 3 chapters are exactly the same you prepared for part 2. So it will be far easier this time. Once you are 100% in all IT chapters in test software go for Economics and do it (text +software) perfectly.
After that Study and practice chapters 1 and 2, but keep in mind chapter 1 Business Process is a very lengthy chapter to cover and you must focus intensively on TQM topic.
Now for chapters 2 Managing Business Resources and all finance and Accounting chapters 3,4,5,6 – if you want to do practice of all those numericals they have in text or software then CIA part 3 will look very horrible to you. Believe me if you keep doing those numericals you won’t prepare for atleast 3-4 months and those questions will just never finish. The point is NOT EVEN 10 numerical questions will come in exam but if you started preparing for it you will be exhausted, tense and fail eventually.
Don’t lose the objective. Just goto chapter 2,3,4,5,6 theory questions only and you must know them theoretically very well.
Congrats and your CIA part 3 preparation is done. Now for the numerical questions part, you will get only around 8-10 such questions. Atleast 4 of them were very very easy basic accounting questions and for the remaining 4-6 questions do breakeven CVP question or do NPV or options or bonds or whatever if you have time.
I have been preparing part 3 for like 4 months but was never regular because of intensive job and other commitments. So I had just studied twice the full study text, done chapters 1,2,7,8,9,10 just once and never finished numerical software questions of 3,4,5,6. As registration of old course was going to close on 30th June I just wanted to give it a try before 30June so that incase I fail I could re-register and appear one more time later on with the old syllabus. I decided this just yesterday and I started preparing those chapters 7,8,9,10,1,2,5,6 and did them for continuous 19hours and then went straight to the exam room passing the exam. Its difficult because its lengthy and tricky, but not that if you prepare wisely. I believe that your study background helps you a lot as well.
So friends wish you all the best and in case any of you needs my help I can be contacted at firstname.lastname@example.org . Note that its underscore after ‘waleed’.