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Thread Title: CIA Part 3 Exam - Failure Rate?
Created On Saturday September 14, 2013 7:47 PM
  CIA Part 3 Exam - Failure Rate?
  CIA Part 3 Exam - Failure Rate?
  CIA Part 3 Exam - Failure Rate?
  CIA Part 3 Exam - Failure Rate?
  CIA Part 3 Exam - Failure Rate?
  CIA Part 3 Exam - Failure Rate?
  CIA Part 3 Exam - Failure Rate?
  CIA Part 3 Exam - Failure Rate?
  CIA Part 3 Exam - Failure Rate?
  CIA Part 3 Exam - Failure Rate?


MagnaRiderSD


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Saturday September 14, 2013 7:47 PM

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Within the past year, I've passed Parts 1, 2 and 4 - - - and failed 3 today after taking my Chapter's exam study sessions (12 Saturdays I'll never get back) plus an additional 100+ hours of study time on my own.

I used the IIA study material and Gleim. Like a few of the users, I was scoring in the 80-85% range with the IIA exams - both through the online study guide as well as separate exam prep CD - which offers additional exam questions.

My opinion? What a joke. The materials did not match the exam questions in at least 85% of the cases.

With the new Part 3 out, I now get to purchase new texts, and register for another exam that now includes material from the old Parts 3 AND 4.

Is it fair to say that the IIA is nothing but a money making venture - between exam fees, seminars and books, I've decided I'm in the wrong business.

Funny - - - having been in audit for over 20 years (and having been Director of Internal Audit for a mid-sized publicly traded company), I'm now being essentially told that I'm not qualified. Ummmm, no.

-------------------------
--Pete

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mgx


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Monday September 16, 2013 5:07 PM

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Sorry to hear about your experience. I also failed CIA part 3 in the past and now studying to retake it.
May I ask which edition of Gleim did you use? The latest 17th edition?
In my case real exam questions did not match even closely with Gleim, IIA tool or Wiley. Some questions came from another planet...

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MrMohamed


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Monday September 16, 2013 7:15 PM

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I hope the administration to clarify this topic

And I hope that you succeed friend Part III

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Hamguy


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Thursday September 19, 2013 9:42 PM

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Don't feel bad, you are not alone.. With over 20 years of audit experience, I also passed all parts except Part 3. Took it in February, scored 594.. Took it in June, scored 562... I have spent months on this material. Its a joke. I regularly score 80+ on all parts except cost accounting. Those problems remind me of my college days, and studying for the CPA exam.. I breezed Parts1-2, which are IAD focused and real life examples.

I am taking the exam again before year-end, but with my work load its almost impossible to study this crud. I know the material inside and out, except for cost accounting. Those problems could take 15 minuts each. I mean really? Why this material is on a CIA exam is a mystery.

Good news is that new Part 3 will probably be easier, as some of the current material will drop off or be reduced. Stay strong, its only a matter of time. You may need to clear your head, and wait 3-6 months before starting again.

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Shaka


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Friday September 20, 2013 3:03 AM

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The clear points to your problem is similar to what i went through, to start with ,I will say the IIA exams are professional exams and are different compared to accounting. The mistake your are making is follows:
• Thinking that you have a lot of internal audit experience and so the exam is supposed to be a walk over.
• Not covering really accounting, economics, taxation, information technology, and financial management in much, much detail. Remember internal auditors are advisers to management and management depends much to their advice that is why you need to research more not just internal audit books.

Advice
• The part 3 works well if you have done CPA (USA) or ACCA(UK) because the standard there are quite equating to those of profession accounting programs. However, if you have Geim materials , you will have no problem to pass your exams.
• Understand the concept from Gleim materials and do not expect 85% of the Gleim questions to appear during the exams. Simply apply the concept, then you will pass your exams.
• I went through that personally and failed 3 attempts and passed it the 4th attempt after going back to my accounting , economics and IT books, I’m a Chartered Accountant my self,I know what I’m talking about.
• Do not underrate the CIA exam you will be embarrassed even you may have a doctorate degree.

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Energy28


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Monday September 23, 2013 5:45 AM

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I agree with you!!! I already spent over $2,000 us and I dd not pass yet. I used Gleim to study for parts 1 and 2 and I failed part 1 once and part 2 twice. I have been studing fo the last 12 months, I wrote down all the concepts in a note book then did the questions and scored around 85% and was confident that I will past. The questions were very confusing and I read it over and over again. I thought that something is wrong with me but after reading the comments in this forum I realized that there are a lot of people who are facing the same problems
I got the part 4 exception and now after failing part 2 again last week, I have to take the new part 2
I am registered to take parts 1 and 3 by December 31 and I am so frustrated and discouraged. What to use to study? How to study? What's the secret to answering the exam questions? Can anyone help me please!!!!!! I will consider all the advice. Thanks!!!!!!

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IPPF


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Wednesday September 25, 2013 11:29 AM

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It is absolutely true that certifications are a money maker. The audit profession is plagued with too many certifications. Overall, there's way too many accounting clubs with membership costs, certifications, renewal fees, etc.

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Hamguy


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Sunday September 29, 2013 4:14 PM

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Advice: As indicated in this forum, spend time on the concepts rather than memorizing and doing the questions. I aced Part 1,2, and with over a dozen years of internal audit experience most at the officer level I can say understanding the standards, and also practical workings of IAD were most helpful and relevant. I am haviung major issues with Part 3, which should be a breeze since I am already a CPA. My issue is that those cost accounting questions have absolutely no relevance to my industry (financial services). who cares about installment sales, or direct vs. indirect cost when I am dealing with derivatives and other key issues in my industry. However, this is the exam, so either study concepts, or fail.

I would use the questions as a guide, read the reasons why the questions are right or wrong, which should help with mastering the concepts.
I am reducirng my time for Part 3, which is the last time under the old method, and will lightly review Gliem outlines a month before the exam. Spending time and time again on questions to me is not doing it for me at this time.

When I switch to the new Part 3 (assuning I fail again), I will have a better chance of passing since some of those cost accounting financial areas will be reduced, giving me a better shot at knowing more material, with a less intense focus on a few areas. Good luck, don't give up.. I am not.

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BaselUZSHZD


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Wednesday October 02, 2013 8:43 AM

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I agree with you 100%, Man i tried for the exam 4 times, what a waste of time and money, not mentioning the effort, Are they fooling us!!!

-------------------------
Basel O. Shihabi
Internal Auditor

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TheBoss


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Monday October 14, 2013 12:12 AM

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I completed my Cia last week. I constantly check these discussions and from the posts here , i never thought i would pass part 3. However i passed without any problems. It was the easiest of the 4 parts. The calculation questions were all from gleim. The theory ones would be easy if you understood the book. Gleim works ppl.

-------------------------
TheBoss

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DISCUSSIONS > CERTIFICATION [ REFRESH ]
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