My Personal Study Techniques - Part 2 and Take Ways so far…
 

In addition to outlining all of the chapters in Word, I’ve also created an Excel document that lists out all of the formulas that appear in the text.  The Excel document also includes columns containing the page number and chapter where the formula is found in the instance that I need to reference the formula or an example problem.  The Excel document also contains the definition of undefined variables and additional notes pertaining to the context of the formula.  I hope that the Word outlined notes and the Excel document will serve as references for quick review during the latter stages of my studying progress after I’ve read through all of the chapters.  Specifically, the Excel document will serve as a formula reference guide which I hope to use either directly to memorize formulas or can be turned into flashcards.  The Word document can also be used later to create flashcards for definitions of any unknown content.  In addition, the process of taking notes allows me to really focus on the material and the concepts, as I am reading for main points and trying to understand and translate the topics.

So far, I have been able to read and take notes through all the first three Modules, Chapter 1-7, using the above study techniques.  This is also the same point where I had to stop studying and deferred my exam for the June/July session.  Therefore, this is actually my second time completely reading through all of the material in Chapter 1-7.  So far, I’ve noticed that Chapter 2 – Financial Regulatory Environment and Chapter 5 – Financial Planning and Analysis will require some extra review and memorization. 

Chapter 5 will require a large amount of formula memorization as it covers future value, present value, various financial ratios, Return on Investment, Free Cash Flow, and Economic Value Added, just to name a few.  All these formulas and their applications will have to be studied extensively as there will be no formula guide during the exam. 

Chapter 2 does not contain a large amount of formulas, but since it covers the regulatory environment, it contains information on the various regulatory boards, agencies and departments, as well as legislation relating to the regulation of financial institutions, payment systems, financial crimes, consumer protection, bankruptcy and others.  Chapter 6 – Introduction to Working Capital Management also covers U.S. legislation around credit and collections.  Differentiating between various legislation and agencies/departments will require in depth studying as well.