1Table of Content

Chapter 1 Table of content

Chapter 2! What is this guide about?

Chapter 3! Introductions to OTQ exams

! 3.1! Use it to your advantage

! 3.2! How long does it take to pass CIMA?

! 3.3! OTQ features

! 3.4 ! Insight on the prevailing ITQ pass rates

! 3.5! So what does this mean?

Chapter 4! Study approach

! 4.1! A rational approach

! 4.2! Step 1: Fix Your Timeline

! 4.3! Step 2: Select Your Source of Content and Practice

! 4.4 ! Step 3: Develop Your Schedule

! 4.5 ! Step 4: Exam Practice

! 4.6! Step 5: Relax to learn and remember better

! 4.7! Good luck

! 4.8! Copyrights

2 After you complete reading this ebook, you should know the 5 steps as well as few “secret” tricks in order to better prepare yourself for your upcoming CIMA OT exam.

You should be able to put together a study approach that works for you and in this way increase your chances of passing any CIMA OT exam.

What is this guide about?

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Based on our knowledge, experience and research, we’ve com-piled a list of 5 steps that should be part of your study approach. If you follow them, you will maximise the chances of passing your next OT exam. Yes, OT, as here we focus mostly on computer based exams, not case studies.

We’ve included in this guide plenty of links for you to facilitate your studies.

We just have one request – if you like what you read, please spread the word about this resource with your colleagues. You may even help them pass an exam.

Sounds familiar?

• Have you signed up for CIMA and don’t know what you should expect on the exam day?

• Are you unsure how you should prepare for you upcoming CIMA exam?

• Or maybe you have failed an exam and are struggling with finding the motiva-tion and the right study plan?

3 OTQ exams (Objective Test Questions, also sometimes referred to as CBE – Computer Based Assessments).

Introduction to OTQ exams

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Use it to your advantage

OTQ exams (Objective Test Questions, also sometimes re-ferred to as CBE – Computer Based Assessments) have now taken centre-stage and hijacked a major part of the CIMA learn-ing programme. But it’s not half as bad it seems — in fact, the entire OTQ-centric examination structure now offers students a sprinkle of benefits that were previously deemed unfathomable, including the ability to fast-track your journey towards becoming a fully-qualified Management Accountant! This facility indeed bodes well on the contemporary CIMA student who can now achieve their much-anticipated results at an expedited pace than their counterparts of preceding generations never could.

Faced with an assessment framework that has proven to be worth its weight in gold in qualifying only the best students, the modern bi-partite assessment structure syncs extremely well with modern employer expectations of fast knowledge-backed decision making, tech-savviness, and proper communication. Indeed, the new wave of CIMA-qualified professionals are taught, trialed, and groomed to carry on impeccable communica-tion skills (tested via the integrated case study — a topic of its own for another time!) and rapid decision-making skills (where OTQs prove to be fitting tools for evaluation) to employment platforms.

example from Practice Tests Academy online tool

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It all depends on you...

You may wonder – how long does it take? There is no simple answer to that. That all depends on you.

CIMA says that on average it takes 5 years to complete all exams – 1 year for the certificate level (5 exams) and 4 years for another 12 exam – 9 OTQ and 3 case studies). There are stories that some students manage to complete all the exams within 2 years… Well, anything’s possible, but if you have a full-time job, I do see a tiny chance of doing that. So let’s stick to the statistics here – on average – 5 years. And don’t forget, you don't have any time limit to complete all the exams. No stress here, you'll manage!

Contrary to the notion of OTQs hijacking your exam experience, YOU yourself can hijack the entire CIMA professional qualifica-tion to be done in a time-scale that meets your expectations. It’s certainly not as easy as it’s made out to be, but where there is a will, there is a way. And needless to say, we are ready to as-sist you with your exam preparation.

How long does it take to pass CIMA?

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Firstly, allows us to recap a few salient features in-herent to CIMA’s OTQ exams:

• There are 9 OTQ exams across 3 levels of achievement over the course of the CIMA study programme, each level featur-ing 3 distinct OTQ exams across the ‘Enterprise’ pillar, the ‘Performance’ pillar, and the ‘Financial’ pillar.

• Unlike in the past, where each subject-based exam had a fixed seating twice a year (and sometimes 4-times with re-sits), the modern OTQ exam is flexible and can be attempted on-demand and as many times as needed.

• A standard OTQ professional level exam comprises 60 ques-tions that needs to be answered over a period of 90 min-utes. Although seemingly simple, passing an OTQ exam re-quires a certain degree of capacity and tenacity.

• The pass mark for an OTQ exam is at around 70% per paper - actually it is 67%, 100 out of 150 according to a fairly recent implementation of a scaled score (btw have a look at our arti-cle that explains the basics of scaled scores), which repre-

sents the level of excellence that is pursued by the institute from each prospective Management Accountant.

example from Practice Tests Academy online tool

OTQ features

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• There are 6 types of OTQs that you will encounter in your exam. This includes Multiple Choice (will have 1 correct an-swer), Multiple Response (will have several correct an-swers, such as select TWO correct answers or, the dreadful: select ALL that apply), Drop Down lists (will have 1 correct answer per drop down option), Drag and Drop (may have several correct answers based on the question criteria), and Hot Spots (may have several correct answers based on the question criteria) and a Number Entry (mostly in the “Finan-cial” and “Performance pillar”, required you to input a number up to a specific number of decimals, e.g. to 2 decimal places or to full thousands). Additionally CIMA has introduced item-sets into the new 2017 syllabus of the certificate level. Items sets are nothing else than few questions that relate to the same scenario, so nothing you haven’t seen or practiced so far.

• All elements to a question must be answered correctly in or-der to gain marks. Marks cannot, therefore, be earned in part. For example, where a multiple response question asks candi-dates to select three options, all three correct options much be selected for the question to be marked correct.

More on that here: http://www.cimaglobal.com/Documents/Student%20docs/2015-practice-exams/Guidance%20notes%20for%20tutors%20and%20students_FINAL.pdf

As usual, passing is all about a combination of learning and practice. On the other hand, CIMA continuously endeavours to ensure potential employers understand the efficacy of CIMA’s innovative testing mechanics and the value of the intermediary achievements leading up to big letters. Hence each stage of achievement is likely to strengthen your competitiveness as a potential candidate within the employment landscape.

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Much has been debated regarding the difficulty associ-ated with each OTQ exam since the roll-out of the new syllabus in January 2015.

We’ve delved into the vaults of CIMA and retrieved an im-portant series of statistics for your consumption.

The below pass rates cover the one-year-period be-tween 1st of October 2015 and 30th of September 2016:

The above excerpt was taken from CIMA official website - http://www.cimaglobal.com/About-us/Examinations/

Insight on the Prevailing OTQ Exam Pass-Rates and Trends.

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A general observation is that students tend to struggle with calculation-oriented questions which frequent the performance and financial pillars. Such questions, more often than not,

tend to test your fortitude in juggling reading time, comprehension of information, calcula-

tion speed, and the ability to rationalise and eliminate incorrect answers (especially when ‘select ALL that apply’ questions are brought to the fore). Add to that the new condition of having to use an on-screen calculator (however that is not mandatory – have a look at our article on that topic here) and a scratch pad as opposed to a physical sophisticated calculator with the familiar pressure-sensitive buttons and scrap paper to scribble on in your own hand writing—all of which are now considered to be an artifact of a bygone era—the modern examination framework has cer-tainly changed for a more digital, paper-less era.

Faced with such adversary, the unprepared student is inadver-tently knocked off course of an otherwise flawless exam-approach and time-management plan. The usual culprits that increase difficulty levels for students during the exams are (1) complex or long scenarios; (2) lack of proper training and ap-proach; and (3) inflexible, pre-meditated expectations. You as a vigilant candidate and a change-adept Management-Accountant-to-be must prevent these factors from corroding your efficiency. Improper time management, missed questions, and guessed answers, all of which are great proponents of fail-ure, need to be sparred with knowledge, practice, and more practice.

So what does this mean?

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4 Different people have different ways of studying. Different things work on different people. Keep that in mind when you set up a study approach that should work for you.

Study approach

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Based on the above, it is evident that you must contrive for suc-cess through a consistent approach that embodies effort and commitment. Our recommended approach to passing OTQ ex-ams, based on our own and other students’ experience, fo-cuses on,

• Setting practical exam deadlines. You need to set an upper-limit to your study-endeavour which then introduces an element of direction and inspires achievement. Despite being on-demand, you need to be swift in your approach to your CIMA education. Taking too much time may result in a higher opportunity cost in the job market whilst taking too little will backfire.

• Covering all aspects of the syllabus. You need to study the textbook, almost to the point of memorising it. OTQs will test your knowledge across most (if not all) areas of the syllabus, your understanding of concepts, and your ability to apply to simple contexts.

• Practicing plenty of mock exams. Plenty of it. Practice ex-ams fine-tune your approach, including essential time-management skills. It also develops a sense of confidence which will at best inspire a lasting habit of preparing whilst at least provide you an edge over the nerves usually implied while taking an exam.

There is no room for complacency and you will need to work hard to be successful!

The following sections suggest a basic recommended plan to your CIMA studies and your further “PASS”:

A rational approach

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Fixing your timeline will provide you a sense of control. Decide which exam you will attempt and select a practical date. It is also prudent to consider the examination timetable (that is a link to CIMAglobal website with the 2016/2017 exam timetable) for the integrated case study exam as well. Given the integrated na-ture of assessment of each case study exam, it is important that you pace out your syllabus studies and OTQ exams in a man-ner that allows you to sit for the integrated case study in an im-mediate and consistent fashion for maximum results.

This step will allow you to scratch-off the first (and easiest) task on your list. You are now one step closer to your goal and defi-nitely more committed than you were earlier.

I know that making the first step is difficult. Don’t be stressed by committing to an exam date though! It’s supposed to motivate you, make you more structured in your approach. HOWEVER CIMA also provides something I call a “safety net”. If you feel un-prepared and not ready to take the exam few days before the

exam date, re-member that you can always postpone it for free. You just need to do it up to 48 hours be-fore your sched-uled exam date. That really works, I’ve tried that ;)

When will I know I’m ready? Well, that’s no rocket science, you will never know until you try. But as an indication, I think doing a mock exam in an exam-resembling environment around 3 days before the exam will be a good indication. Just the mock exam has to be made up of questions that you haven’t yet attempted, otherwise it is not really a useful benchmark… If you need more mocks, just head to our website and check out Our Products page to see all the practice options we have prepared for you. My rule of thumb, if you score above 60%, there is a big chance you will pass. You still have 2-3 days to improve your knowl-edge and exam skills and reach at least 67%.

Step 1: Fix Your Timeline

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Integral to successful learning is the approach to subject man-ner and there are 4 ways you can go by doing this:

• CIMA physical classroom tuition providers – lecture notes, slides, hand-outs, assignment, class-room mock ex-ams, etc. Here is a list of all accredited CIMA tuition providers as of end of 2016.

• Signing up for online/distance learning – lecture notes, study packs, slides, assignments, class-room or online mock exams, etc.

• Self-study - purchased learning material – study packs, revi-sion kits, online mock exams, etc.

• A mix of the above.

Each approach presents its own distinct set of pros and cons. For example, attending lectures at a CIMA tuition provider will require you to trade flexibility of scheduling (due to its standard time-table based approach) for an assurance of syllabus cover-age. This may or may not be very accommodative for a full-time worker. Likewise, an online learning programme will present its own merits (e.g. flexible and comprehensive) and tradeoffs (e.g. lack of supervision) as much as a self-study approach. You need to find something that works well for you and that you feel comfortable with. I cannot tell you “do this”, because what works on me, may not work on you. However I can describe what worked on me last time I took an exam under 2015 sylla-bus. Hopefully that will give you some indication and ideas on what could work for you as well.

Step 2: Select Your Source of Content and Practice

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My Exam Story – self studyI have used online lectures from BPP. That provided me a struc-ture, a routine if you will – something I really needed. Let’s be honest here – when you have a full-time job and you come back home, sit down in front of your TV… who will have enough strengths to get up and start studying for the next 3 hours or so? You need a routine.

First 2 weeks were difficult, so my plan was more flexible. What I was supposed to cover in 2 weeks, I decided to give myself 3 – just in case. I was watching a video from each chapter and then I was practicing few exams questions related to the topics I reviewed, just that I am used to the format, style etc. Also mak-ing my own notes using my own words really helped. The key to mastering information recall and fully grasping what you have learned is to add context and improve engagement with the ma-terial. Just cramming information into your head will last a day at best before it’s all forgotten and regurgitation certainly won’t get you results come exam time. Instead of passive studying, you need active studying techniques. Watching only lectures online or just reading study books is not varied and therefore passive. But if you add your own notes that show your under-standing of what you have read / watched together with the in-teractive online questions to practice that knowledge, that is a key to success. At least it was for me.

Additionally I decided to review again all my notes by syllabus parts (let’s say Part A, then B etc) and after each completed part, I was practicing all the related questions I could get my hands on. After I’ve reviewed all the parts and tested all the questions, the last step was to mix it up by doing additional mocks exams. You see, my approach was to start small (chap-ter level), then later on combine few chapters together into a part, polish that and finally practice all parts together. That ap-proach spread across 12/13 weeks time, allowed me to remem-ber most of the theories and practical information I needed to know in order to pass a CIMA OTQ exam.

It is always recommended to attend lessons at an accredited learning institute or a reputed online tuition provider as it will bring in a level of supervision. However, regardless of your choice, your study programmed needs to be supplemented by frequent testing. We encourage you to visit our website at https://www.practicetestsacademy.com/ and try out our question bank which contains more than 500 questions per each paper that provides in-depth coverage of all syllabus areas. And you can practice those challenging questions according to the sylla-bus weights split, so you focus on what is im- portant and what needs to be improved.

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Develop a Schedule for Study, Revision and Practice, and Mock Exams• Aim for at least 10-12 hours of study sessions per week, ide-

ally for 12 weeks.

• Break your study programme into bite-sized tasks that can be achieved on a daily basis.

• Use the learning outcomes for each chapter under each sub-ject for this purpose and add in follow-up questions as well (by chapter).

• Scratch tasks off from your study plan as you achieve them and celebrate success. And I do mean it, visually seeing that you have completed a stage of your studies keeps your moti-vation high, so you need to do everything is your power to keep it that way. Believe me, CIMA is a huge certification, it takes time, dedication. You will have your ups and downs and

important is to keep you head above the water when the moti-vation dips come up.

• Create a visual schedule that illustrates your intended study plan on an accessible platform. You can create such a plan in Excel (who doesn’t love excel!). Or this can be done be powered by a digi-tal app such as MyStudyLife (avail-able on the App Store, Google Play, Microsoft Store, an as a Goo-gle Chrome extension for FREE!), a utility app such as Google calen-dar, or on a custom spreadsheet. No matter what the approach is, your commitment is essential and should be embodied in your habits. For a fast-track approach to success, we recommend you develop a habit-forming schedule, preferably with consistent study times across the week and regular breaks and off-times. I really cannot stress that enough. When you get into a routine, it will definitively be-come easier (as opposed to when you start and everything seems too big, impossible etc). This creates a clear audit trail for success which you can use to evaluate your performance post-exam.

Step 3: Develop Your Schedule

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• You can even share your thoughts on a blog (including our blog) to support others. Some people learn best when they teach others. So if you come across a topic that is difficult for you, make some notes, reflect on it and try to find some-one you could explain it to in a way you have understood it.

• CIMA has set out just how many hours you need to put in to pass the OTs. The institute has even broken it down each pa-per into the subject areas. Just keep in mind we’re talking here about a general suggestion, just don’t feel you have no chances if you don’t have so much time on your hands as CIMA would like you to devote to prepare properly for an

exam. The Institute suggests you spend approximately 15 hours week across a period of 12-14 weeks. If you fancy a full CIMA guidance, you can download from CIMA Connect site. And here is a more detailed split of hours and weeks (summary of the CIMA guidelines):

★ E1 - 134 hours – 13 weeks

★ P1 - 150 hours – 13 weeks

★ F1 - 150 hours – 13 weeks

★ E2 - 135 hours – 12 weeks

★ P2 - 150 hours – 13 weeks

★ F2 - 143 hours – 9 weeks

★ E3 - 135 hours – 12 weeks

★ P3 - 150 hours – 14 weeks

★ F3 - 135 hours – 12 weeks

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example for E1, taken from CIMA Connect

• Another tip would be to prepare a place for you to study. If for whatever reason you cannot concentrate at home (noise, wrong atmosphere, screaming kids etc), try coffee shops or local libraries if you need a total silence. For example, per-haps your employer provides rooms where you can stay after work and study a bit. Usually conference rooms should be empty after 5/6 pm. Be creative, that always helps.

It is also equally important to create an inventory of supporting items for future reference as you progress in your studies. This includes chapter-wise short notes and summaries, mnemonics, flash cards, etc.

Note – learning outcomes are listed out on most study texts. Al-ternatively, you can visit the following link for CIMA’s own ver-sion: http://www.cimaglobal.com/Documents/Student%20docs/2015-syllabus/CIMA-2015-professional-qualification-syllabus.pdf

However we encourage you to use our site, where we added to the learning outcomes another column representing which Kaplan chapter this syllabus content is covered in. No-one has put it so straight forward as us!

! E1! ! ! E2! ! ! E3

! F1! ! ! F2! ! ! F3

! P1! ! ! P2! ! ! P3

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Practice from the beginningWe recommend that you allow question practice to interpose with your planned study routine right from the start. For those who follow a study-text-book, we advise that all questions that are encountered within the syllabus topic sections are at-tempted in the order in which they are received. Once these questions are exhausted, refer to a revision kit or our online question bank for additional priming. The more you practice, the better results you should get. We also recommend that frequent mock exams are attempted, to which extent our question bank and assessment system is primed to assist you.

Ensure that calculation-related questions are attempted in all possible angles of testing. Some such questions, by default, pre-sent several calculations leading up to the final answer—more frequent in areas such as ‘Activity-Based Costing / Manage-ment’—which inevitably consumes more of your valuable time. These types of questions will often disrupt your personal timing strategy and is further exacerbated by students’ own lack of

practice or familiarity with such questions. Also, be wary of open-ended questions such as those that require you to ‘select ALL that apply’. In the wake of such possible questions, com-plete confidence in syllabus content is underscored.

You’ll definitely want to do lots more question and full mock exam practice to ensure you have a good enough exam tech-nique to pass the exam. Be honest about your strengths and weaknesses – practicing exam questions will help highlight the syllabus areas that you need to improve. That’s why mock ex-ams with a detailed feedback are so useful. Just click here to check our free resource here to verify the results screen and identify which areas you’re good at and which you need to work on.

Check your exam readiness by attempting our free tests. We’ve covered here all the levels.

Step 4: Exam Practice

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That sounds a bit counterintui-tive… especially for finance pro-fessionals. We just have to finish this last budget, or the last quar-terly report, even if that means spending half of the night in the office. But, if you think logically about it, your brain will be much more efficient when it’s rested (or at least not overloaded). Making efforts to balance study and re-laxation is not only important for your state of mind, but for the quality of your study as well. 

Brains in a state of relaxation are better able to remember new information.

A good balance also maximises the effectiveness of your study. Relaxation has a positive effect on your ability to learn, recall in-formation, think clearly and focus. 

How does it relate to your studying time? Take a short break every hour. And a short break means ca. 5 minutes, just enough time to go to the kitchen to pick up something to drink and stretch your legs. Sometimes when you feel like you are reading the same paragraph for the 5th time, it’s better to go for a quick walk outside, get some fresh air and then come back to your books. I can guarantee that you will learn much faster after-wards.

Step 5: Relax to learn and remember better

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Better to visualize?Have a look at our flowchart:

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You need to take a strategic approach to your studying by fol-lowing the above advice and this will help you get a better re-turn on your studying efforts.

One last tip – have an end goal in mind! Always remember what you’re working towards - becoming a CGMA, adding global power to your CV and showcasing your value around the world. Imagine how your life would change once you have com-pleted CIMA.

We hope you found this ebook interesting. Stay tuned to our blog for more timely updates on the syllabus, exams, and tips & tricks.

Get social with us!

Good Luck! What is Practice Tests Academy?• We are a number 1 provider of interactive practice tests for your CIMA

OT exams. This is our website: https://www.practicetestsacademy.com/

• We help you progress in your career by increasing chances of passing on the first attempt.

• We've heard it many times from different students - "I need more practice questions, more quality and sth that replicates the exam conditions. And I don't want to spend a fortune on that". We've decided to provide an afford-able solution to that.

Why are we different?1. We combine financial expertise with a passion for IT.

2. We truly enjoy educating others.

3. Learn from mistakes of others, not your own - we went through hard times in our CIMA studies. Based on our experience, we've built this platform. Why would you make it harder for yourself?

4. We are problem solvers - we listened to our fellow CIMA students and came up with solutions.

5. We believe you can do it - it's all about gathering knowledge, applica-tion and practice. Practice makes better!

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