CIMA P2 Exam: An Interview With a Top Tutor

The CIMA P2 exam can be a real struggle for many students due to the sheer volume of the syllabus and some tricky areas to understand. This often leaves candidates feeling nervous about their exam, because they don’t know which parts of the syllabus will be tested on the day.

Sound familiar?

In today’s article, I wanted to give you some useful insight and helpful tips on overcoming the CIMA P2 exam so that you can feel more confident ahead of the November sitting.

Below is an interview I recently conducted with a top tutor who specialises in teaching the P2 paper.

Mahmood Reza is an experienced working accountant, business, tax advisor and educator who owns and manages Pro Active Resolutions (PAR). Mahmood has an extensive teaching background stretching over thirty five years, he has taught at all educational levels, from vocational to professional, primary to post graduate. Mahmood has taught and trained professional accounting students (such as ACCA, CIMA, and AAT) to enable them to qualify and become members of their bodies; Mahmood has delivered professional accountancy training both in the UK and overseas

So Mahmood, what is your suggested approach to preparation for the P2 paper if someone is taking the exam for the first time?

Ensure you have a good basic understanding of the framework of the topic areas and that you are familiar with the areas covered in the preceding and associated papers CIMA CO1 and P1.

Practicing questions is the best way to demonstrate to yourself how much of an understanding of the subject you do actually have and ultimately it should be done in such a way that it simulates what the real exam scenario will be, i.e.no access to books, colleagues or the actual answer – questions need to be answered without any ‘safety net’.

Questions must be attempted in full without referring to the answers and in the last 4-6 weeks before the exam attempting questions to the clock.

Avoid question spotting and cover (ideally) the whole syllabus, it’s usual to see a question involving different parts of the syllabus, for example learning curve with variances

And what are the most common reasons for students having to retake the P2 exam?

A number of reasons, including not being comfortable with the underpinning knowledge gained from the paper CO1 and the P1 paper; poorly laid out workings, headings; failing to apply their answers to the actual scenario in the question; poor time management, excluding reading time this is 1.8 minutes per mark; weak ‘basic’ math’s such as algebra, simultaneous equations, rule of signs.

Nerves and a racing heart beat are normal reactions at the start of the exam, doing the easier questions first is a good way to calm yourself and demonstrate to yourself that the paper is manageable.

Yes, I definitely agree with starting off with the ‘easier’ questions to gain confidence, boost momentum and ease those exam nerves. So what should students do differently if they are retaking the exam?

Try to put any previous sittings out of your mind and focus on the sitting ahead.

Use the 20 minute reading time to plan the answers and decide in which order questions are to be attempted, always do the easier ones first.

Exam technique is a vital part of the students tool kit, this includes time management (do not spend more time on a question that you should – 1.8 minutes per mark, stick to this rigidly – when your time is up move on), answer the question set, avoid general answers and apply your knowledge to the actual scenario, show workings, break written answers up by using headings, write legibly and do not use pencil or red ink.

All questions have a marking scheme associated with them and marks are allocated for each distinct task set within a question.

Always answer the questions that you find easier first, this will settle any nerves and anxiety and you will bank marks, obviously clearly label what questions, or part of you are attempting.

How about those sitting multiple papers, what advice do you have for them?

One of the biggest challenges in pursuing a professional qualification is maintaining a balance between the demands of your job, family/social life (important to retain one) and studies.

Spread your efforts between the papers, and when studying, do it in manageable and achievable time slots, build in time to relax.

The support of family and friends is important, if working at home, do your work when you get home (quiet room) and get it out of the way, you can then justifiably relax for the rest of the evening

Studying can be a stressful time for you, friends and family, exercise, stress and time management techniques can assist.

Finally, what are your top three pieces of advice for someone sitting the P2 exam in November?

TIP #1 Your thinking should be to assume that everything you write in the exam is correct, having done one step in a question consider what you do next.

In common with most professional accounting papers P2 is mainly marked on methodology, for example a question on (say) learning curves may involve you calculating a rate of learning (some marks awarded) and then with rate calculated use it to calculate (say) total time and cost. If the rate calculated is factually incorrect you may not get those marks but used correctly you will get full marks for the next step – it’s called Own Figure Rule. It’s worth noting that if workings are shown you may pick up some credit if some aspects are correct.

TIP #2 Plan answers first, for example for a written question consider what headings/issues you are going to write about – it’s like having coat hooks to hang your thoughts on

TIP #3 Keep a positive attitude, if you approach it with feelings of doom it will affect your performance

Good luck and be confident in what you do

To sum up

My thanks to Mahmood for taking the time out of his day to offer his advice on the CIMA P2 exam. I hope you found his comments useful.

If you have any questions or comments of your own to add, please feel free to drop them in the comments box below and you’ll be sure to receive a prompt reply.

Thanks

Matt

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