New HOCK Student Forums

I am glad to inform you, that Hock international announces New HOCK Student Forums. As mentioned in my blog many times, I like Hock's study materials for its intelligible explanations of the concepts. Thus, CMA/CFM candidates receive new useful on-line study resource. You have to be a Hock student in order to ask the questions, but you can read all forum's topics for free. I am sure that the amount of helpful information will increase very quickly, because Hock International, especially Lynn Roden, pays much attention to the communication with students, helping in study, answering the questions.
hockforum.jpg


Technorati Tags:


Posted by mazoo at 12:30 PM | Comments (5)

October 18, 2005

CMA Study Materials, Resources and etc. Answering the Questions.

CMA Study Materials

1. Hock vs. Gleim

The HOCK Distance Learning Program and Gleim's CMA/CFM Review System are the most popular study systems among CMA/CFM candidates. The both are very good and you can choose one based on your accounting and financial experience. Already well prepared candidates may prefer Gleim's Review, because it is a brief outline for necessary topics with a lot of additional (often outside the scope of the exam) information. Hock's Study Materials teach you to understand the concepts and provide sufficient level of understanding and knowledge to pass the exam. Hock's Study Materials are very well aligned with LOS (Learning Outcome Statements).

For example, the pensions occupy 7 pages in Gleim, with 3 pages of definitions (defined benefit pension plan, PBO, ABO, NPPC, accrued/prepaid pension cost). Hock gives detailed explanation on 21 pages. Therefore, if you already know accounting and calculations for pensions you may choose Gleim's outline. However, it wasn't my case :-)

Hence, the preparation with Gleim's Study Materials is very time consuming when you don't have good background, because you should use another sources of information for understanding the materials (on the Web, other study materials, etc.).

Mel, I used old Gleim's materials 11th Edition for my Revised CMA Part 1 (I think 10th and 11th Editions are essentially the same). It was sufficient for part 1. The CMA/CFM exam is updated to reflect changes in US GAAP one year after the effective date, so some questions from old study materials are out of date now. In the comparison of Reorganized CMA Exam with Old CMA Exam you can find the topics from Revised Exams that not covered by old Gleim's Study Materials. But, for me, the key item that I missed with Cleim's old materials was the time. It is not very convenient to jump from one book to another + specifics of Gleim's materials as I mentioned above. Again, if you are well prepared, I think old Gleim will be sufficient for you, just be aware about obsolete questions.

Gleim's Test Prep software is convenient to use and have a very large question bank. When I prepared for Revised Part 2, I often skipped the questions from source "publisher" (in the last stage of preparation, I skipped "CPA" and "CIA" questions too). My results were about 90%+ for CMA source questions. So, Reem, 70-78% is a good percentage without skipping.

I didn't use Hock's software with questions bank, so can't tell my opinion about it. The Hock's Study Materials have not very many questions, but these questions are good.

2. Other CMA/CFM Self-Study Courses. I can't tell my opinion because I didn't use them. One thing you need to know about "Only from IMA" IMA's CMA Learning System. It is just another learning system without access to any exam information from the ICMA (Institute of Certified Management Accountants) other than the information that the ICMA makes available to other providers of exam prep products and services.

Please, leave your impressions about using the different study materials in comments!

CMA Interactive Online Resources (Forums)

1. JPS Accounting Forums. The big online community for accountants over the world. Its services are focused on the Arab Accountants. Website contains a lot of useful information especially for those who know the Arabic language.

2. CMA section on CPAnet Forum. Not active, but exist.

3. Hock's CMA/CFM Forums. Ask the questions to Brian Hock.

4. Gleim's CMA Candidate Forum. You should be registered for access. The forum structure is not usual.

If you know other helpful online resources, please, suggest them in the comments.

Posted by mazoo at 5:24 PM | Comments (18)

September 23, 2005

Revised CMA Part 2 - passed!

I have passed CMA Part 2 (new) last Tuesday with 580 scores. It was very hard part for me, taking into account that I had only general background in A, B, D and E sections. Section C "Information Management" was easiest for me and required only careful reading the study materials.

Study materials:

As I mentioned earlier, I used Gleim's study materials for my Revised CMA Part 1 exam. However, it turned out that Gleim's outlines was insufficient for me even for understanding the material from section E "External Financial Reporting". I followed advice from successful candidates and purchased Hock's online study materials. I like these study materials. Reviews are well organized, clear, logical and intelligible. Also, I bought Gleim's Test Prep Software with the question bank. In addition, I bought ICMA's Question and Answer book, which was last step of my preparation.

Tips:

1. Again, follow the Learning Outcome Statements (LOS) (PDF file, 322Kb). Hock's study materials, unlike Gleim's outlines, are very well aligned with the LOS.

2. Practice with multiple-choice questions as much as you can. But be aware that many answers in Gleim's Test Prep Software are out of date (for example, about extraordinary items).

3. If you are already a member of IMA, join the IMA's Certification E-Mail Exchange. It is a source of extremely helpful information. Also, you can ask the questions arising in preparation.

4. Read carefully Bruce Pounder's "Tips for taking CMA/CFM Exams":
one ;
two;

three (PDF file, 24 Kb);
four.

Time management is critical success factor. I used Bruce's advice and I still had about 45 min left after answering all questions during Part 2 exam (I didn’t have any time to review marked questions in the first exam).

I am going to publish a lot study tips for Revised CMA Part 2 after my two weeks vacation. Also, I want to redesign this blog and rewarded myself with second shark tooth in the header.

See you soon and good luck on the exams!

Posted by mazoo at 3:01 PM | Comments (23)