Navigation:


DISCUSSIONS > CERTIFICATION [ REFRESH ]
Thread Title: How to pass CIA Part 3
Created On Thursday March 07, 2013 10:54 AM
  How to pass CIA Part 3
  How to pass CIA Part 3
  How to pass CIA Part 3
  How to pass CIA Part 3
  How to pass CIA Part 3
  How to pass CIA Part 3
  How to pass CIA Part 3
  How to pass CIA Part 3
  How to pass CIA Part 3
  How to pass CIA Part 3


aleks1981


Posts: 3
Joined: Apr 2009

Thursday March 07, 2013 10:54 AM

User is offline View thread in raw text format

So...I finally passed Part 3. Failed it 3 times before and decided to go all in while studying this time. It paid off. Here is a brief summary, hopefully it will help some of you:

Attempt #1. Used IIA prep material to study. Found IIA books to be very disorganized and not easy to understand, especially Financial Accounting and IT sections. They seemed to assume that a candidate is familiar with these topics, and only offered a brief overview. While taking the exam, I remember seeing the questions on the material that was never discussed in the books. I do think however that IIA questions are a good resource since they acre actual exam questions and will help you prepare. I got 594 or 74.25% on the exam. Was probably 1 or 2 questions short.

Attempt # 2. Same as attempt #1. Got 590.

Attempt # 3. This time, I purchased Gleim questions database (about 1000) and Gleim book. Their book is much better than IIA, the material is easy to understand and very well organized. Questions are well structured as well. Got 588...this time I began thinking that maybe I was doing something wrong.

Attempt #4. Purchased Gleim 16th addition package (includes the book, 1000+ questions, audio summaries of each study unit, online T/F questions and quizzes) and Exam Matrix package (includes the book and 600+ questions). Continued reviewing IIA questions from the IIA prep material. Studying for about 8 weeks, 1-2 hrs a day on average. Long story short I passed, below are my comments and suggestions:

1. Gleim - make sure you understand the topic and how to solve a problem using the material. Example: it is not enough to read the book and understand how EOQ/Depreciation/Installment Sales Method/Absorption Costing/etc work. Make sure you can apply these concepts and solve the problems. But also make sure that you're comfortable with 95%+ of questions in their database.

2. Exam Matrix - their book is terrible and goes way too deep into concepts that you will never see on the exam. I did not read it - only glanced at it. It confused me a lot more it helped. Their software package is very slow and is not the most user friendly, however some of their questions (about 600) did help me study and learn the material. Make sure you are comfortable with their questions as well.

3. I continued reviewing IIA questions (my membership to their online tool expired, but I printed out all of the questions).

Some tips:

For me, one package (Gleim, IIA or Exam Matrix) would not be enough, and I think that they complement each other very well, but each one does have a weakness. Please keep in mind that you will see actual questions (up to 10% in my experience) from IIA, Gleim and Exam Matrix database, so make sure you review their questions multiple times.

You will encounter Financial Accounting questions in Gleim database that take 10-15 minutes to solve and will drive you crazy (unless you are a CPA). I skipped those questions, but made sure I knew the concept behind it. You should never see a question on the CIA Exam that take more than 4-5 minutes to solve, so keep that in mind while studying.

Know IT inside and out. At least 50% of questions are IT related.

What sucks is that maybe 10% of what you will study is actually on exam, but that's the way it is structured.

This is not an easy exam, but it is passable. Contact me at aleks.lang@gmail.com if you have any additional questions.
Good luck to everyone!





Textpassed

Reply
Quote
Top
Bottom



Rahuls


Posts: 1
Joined: Apr 2013

Sunday April 28, 2013 10:07 PM

User is offline View thread in raw text format

Hello.
I would really appreciate if you can shed some light on passing the part 3 of the exam CIA. I have sent you an email with all the details regarding studying, planning, and taking the test.

Reply
Quote
Top
Bottom



edwardz


Posts: 3
Joined: Sep 2012

Thursday May 02, 2013 5:56 AM

User is offline View thread in raw text format

Need latest free study materials for this exam. Please Help!

Reply
Quote
Top
Bottom



msaxon


Posts: 5
Joined: Aug 2012

Monday May 13, 2013 1:55 PM

User is offline View thread in raw text format

Congratulations Aleks. Thanks for the tips. I am just starting to study for part 3.

Reply
Quote
Top
Bottom



xatolux


Posts: 5
Joined: May 2013

Wednesday May 15, 2013 1:24 PM

User is offline View thread in raw text format

hello msaxon!

could you please share with me the tips that you were gave by other members ? I am currently reviewing part 3 and this is driving me crazy !!

Help would really be appreciated :-)

thanks

Xavier

Reply
Quote
Top
Bottom



msaxon


Posts: 5
Joined: Aug 2012

Thursday May 16, 2013 4:39 PM

User is offline View thread in raw text format

Xavier, I was referring to the tips that Aleks1981 gave in this thread as the opening post.

Personally, I use Wiley materials. I did for the CPA exam and now the CIA exam. It's worked for me so far in that I've passed all exams on the first try. My strategy is to read all chapters of the book and do all multiple choice questions at least twice. I make sure that I understand the concept behind the question, not memorize the answer. I read all of the explanations for the answers so that I know not only why an answer is correct, but why the other answers are incorrect. This is helpful especially when it seems like two answers are correct.

I also have the IIA CIA model exam which has 100 questions. Lastly, I have the Gleim Test Prep trial version software. You can't purchase it without purchasing the books, so I use it for the first two units.

Reply
Quote
Top
Bottom



meimei


Posts: 5
Joined: Apr 2013

Thursday May 23, 2013 1:54 AM

User is offline View thread in raw text format

Pass module 3 today for the first attempt by studying IIA and Gleim 14. My test is a bit different from others posted online. IT is about 30%, calculation is about 10 questions, the rest are concepts.
Please focus on basic concepts and no need to do complex calculation questions unless you wish to apply the knowledge for CPA.
One more methodology to share with you. Finish the questions you know for sure, flag the questions you are not sure, and try to figure them out after finish the sure questions. Please guess the one you are really not sure, there is no penalty for guessing.
Good luck and thanks for the discussion. I did benefit from reading them.
One more detail, you are allowed for bringing your English and your native language dictionary. I don't know how much it could help but it may comfort you during the test. I

Edited: Thursday May 23, 2013 at 10:12 AM by meimei

Reply
Quote
Top
Bottom



deedeeinamsterdam


Posts: 2
Joined: May 2013

Thursday May 23, 2013 5:40 AM

User is offline View thread in raw text format

Dear candidates

Here is my experience. Passed part 3 a couple of weeks ago (first try) after a massive efforts to stay awake, work at the same time and midnight cramming.
I registered for the exam without realising how technical it is. So I read 2 chapters, found it boring and then procrastinated for a long time.
When I had 3 weeks left, I panicked and tried to make a clear schedule of study. Sometimes i could read the whole chapter per day as planned, but some chapters are long and complex and took 2 or 3 days to just read.

I used CIA Gleim study book, not the most recent edition, but worked fine. Its very finely tuned with the only comment that IT questions are really 50% or more of the exam which is a great thing, because once you learn the concepts, you will remember them at the exam.

3 days before exam i started doing full exam simulation with CIA test prep (really old version). Those simulations have many accounting and finance questions that require computations and take a long time to solve. You won t see those in the exam (maybe 2 or 3 but not so annoying). You can afford to mess up those, IF and only if you ace the IT questions. Focus on those first, and re-read your formulas for the technical chapters in the last days, to refresh your memory.


The Management accounting chapter i didnt even finish reading, on the last day, 2 hours before the exam I barely finished the finance chapter. But I did the test prep questions, with the timer (exam mode) and always tried to guess in a smart way. Sometimes you guess it right. Always do a full study test if you have the test prep, it shows the answer immediately and you learn A LOT by actually solving questions, thats my strategy.

Always solve the questions without making too many written comments on paper. at the exam you will only have the lousy board and thick marker that arent much help. Ask for the calculator, the incorporated one sucks. I was so nervous I had to use the calculator for even the most basic stuff )

Dont panic on exam day, if you dont know the question, make the best guess fast and move on, I wasted quite some time and then had to speed through the last questions with ZERO time to review. Dont rely on the fact that you have sufficient time to review. You dont!

Read whenever you can, wherever you can. I read in the bus on the way to work. Quite productive if you find a seat !

Good luck!

Reply
Quote
Top
Bottom



xatolux


Posts: 5
Joined: May 2013

Tuesday May 28, 2013 1:21 PM

User is offline View thread in raw text format

Dear All,
Does anyone has an access to questions bank from Gleim ? I am currently training with IIA Learning system and I know all the questions by heart, I would really appreciate to try new set of questions...You can answer me by mail:

thecartel@voila.fr

thanks guys!
Xavier

Reply
Quote
Top
Bottom



Baig


Posts: 1
Joined: Jun 2013

Wednesday June 26, 2013 7:23 AM

User is offline View thread in raw text format

Dear All .

I cleared part 3 couple of days back and i am officially a CIA now, I cleared all the exams in the first attempt . I am a qualified chartered Accountant as well hence the journey for me was relatively easy as i have 5 years of audit experience as well. For part 3 i would like to share some experience.

1) IT is very imp as most of them mentioned . My paper contained around 35-40 % of that. The questions will not be as per gleim software but close to that. I would recomment Gleim book for this part as it has thorough comprehensive knowledge. Some IT questions will be very general and will require some common sense. Most of them will be on controls related to EDI, E commerce and development of Software etc. SYstem Development life cycle is a fav topic.

2) The chapter on inventory management and JIT and total quality management was the second fav with around. 30 % questions most of them relatively easy and based on simple calculations. Please go through the book and attempt all questions in the software with honesty and check the reasoning for even the correct answers.

3) The chapter on Global economies and legal framework was also tested 5-6 MCQ's . Please remember to read it and dont ignore it. following are imp topics. Comparative advantage, regressive & progressive tax. Barriers to trade , types of unemployment ,foreign currency & role of central bank.

4) Financial management area and financial accounting area was least tested . some theoretical questions on bonds and preference shares were asked. NPV concept was tested in couple of qs and from financial accounting the q's were very basic such as depreciation calculations etc.

This exam can be a little tricky and frustrating as you need to keep loads of things in your mind. be sure even if you dont know the answer do some smart guess work which you can do by practicing the software.

Please make short notes throughout the study which you will read on the night before the exam they will really work out. Atleast for me i prepared 30- 40 pages of imp notes for all the CIA parts which i read before going to the exam. Remember these will be those points which will be new for you and thats the reason you have scribbled them.

All the best to all the candidates. The blog really helped me so i decided to take out some time and give some guidance to all.


Reply
Quote
Top
Bottom

DISCUSSIONS > CERTIFICATION [ REFRESH ]
The Institute of Internal Auditors • 247 Maitland Avenue Altamonte Springs, FL. 32701-4201 USA
+1-407-937-1100 • FAX +1-407-937-1101 • www.theiia.org