In today’s post we share two study tools that will help boost your practice scores if you don’t already use them. We guarantee it.
We address these little known and little used tools to help improve your chances of success. Implement them and improve your retention, increase your comprehension, and solidify concepts. Sound easy?
It kind of is. But like all studying, you have to be willing to put in the time.
Let’s take a look at how it works.
Two Study Tools
When it comes to studying there are some sure-fire methods that will get you to full comprehension. First, thoroughly study a topic until you completely and entirely understand every concept therein. Then, take some practice questions to ensure that you aren’t fooling yourself. Once you’re clear that you’ve mastered a topic make sure to revisit it. Try more questions from this same topic three to five days later to test your ability to “recall” the same information. This simple and easily implementable approach is enough to get you a passing grade.
However, what we see from most people is a struggle with the first part. Specifically, many don’t have enough time (or patience) to learn every concept of every chapter of every textbook to a proficient level. For this we have some shortcuts, and two study tools to help.
Batching
When studying bonds in the SIE Exam, or FR&A for the CFA Level 1 exam for instance, keep note of what specific areas are tripping you up. By “tripping you up” we mean where you are scoring 60% or lower on average in the practice tests. Many people score much lower than this in areas that they find particularly challenging. Identify these sections and then start there.
Note: Kaplan‘s QBank is an excellent resource for tracking progress. We highly recommend you do so with them.
Once you have identified “problem sections”, compile (manually or via the QBank) a set of 10 to 20 questions from that section to consecutively. The important thing here is to ensure you are “batching” your questions. For example, if bonds are causing you issues for the SIE Exam, and muni bonds are the main culprit, try a practice quiz of ONLY muni bonds questions. There is no need to include corporate, treasury, or agency bonds in your practice exam too if munis are the main sticking point.
Hammer out 10-20 questions, and try them in sets of 10 at a time. Ten is a digestible amount and should be easily manageable.
Repetition
Once you’ve done 10 to 20 questions, take a look at your score. Have you improved? If not, try another 10 to 20 questions. This rapid yet very focused method should really help concepts stick. Answers you previously missed, should become more obvious as you go. If they don’t you may need to revisit that section of the text until they do.
Once you’ve done enough questions to bring your score up for that section, wait at least three to five days. Then try another set of 10 to 20 questions from the same section. This repetition, and delayed repetition, will help solidify the questions into your long-term memory.
Unfortunately, it doesn’t stop there. Consequently if you continue to score well after your review, you’ll need to continue weekly reviews (or perhaps bimonthly once you really know it well). These regular “check ins” will ensure it stays fresh through exam day.
For any more tips and tricks, you know where to find us! Good luck!