CIMA P3 Exam: An Interview with a Top Tutor

Are you dreading the final CIMA P3 exam in November?

Are you panicking with the exam fast approaching not sure where to find time to study with work and personal commitments?

I remember those feelings all too well, so you are not alone.

To help ease your fears and give you confidence ahead of the November sitting, I’ve recently sat down and interviewed a top CIMA P3 exam tutor who offers us some great insight as to how to overcome this paper.

Maryla Stevenson teaches CIMA courses in Birmingham. She has been teaching for about ten years and has specialised in the CIMA P3 exam paper for the last 7.

Marlya has an excellent blog over at http://marylastevensoncima.wordpress.com/ where she puts her great knowledge and experience of the CIMA P3 exam into interesting articles and recordings so that you can get through the final sitting.

Okay, so let’s dive straight into the interview…

So Maryla, what are the fundamentals that students should know before getting started with the CIMA P3 paper?

P3 is very different to the previous P papers. It’s about 90% written (till next January!). Put simply it’s about managing risk in an organisation. And although it builds on the previous papers much of the content is new.

And what is your suggested approach to preparation for the CIMA P3 paper if someone is taking the exam for the first time?

For the November sitting, it’s essential to look at past questions from the start. Many of the questions do not require book knowledge but good exam technique is essential.

Getting a script marked is very important. Feedback on written work is invaluable.

There are two subject areas where I would recommend students attend a
course and get tuition: Audit and financial risk. Students really struggle with these topics.

What would you say are the most common reasons for students having to retake the CIMA P3 exam?

Poor exam technique: time management and not answering the question.

So what should those students do differently next time in order to pass?

Get a script marked, get feedback and take it on board.

Yes, totally agree there. I know that really helped me to pass. So finally, what are your top three pieces of advice for someone sitting the CIMA P3 exam in November?

#1 Calculations make up about 8 marks on the paper. Make sure you can explain financial risk. The words will be worth more than the marks. Don’t spend all your time learning how to do the calculations.

#2 Ensure you know how to “evaluate”. This is the most common requirement in a P3 exam

#3 Start practising questions as soon as you can!

One final thing…

The November exam is very, very difficult to predict. All you know is that there will be a question asking for you to evaluate/discuss risks and/or controls. And it’s usually worth nearly 20 marks out of the 50.

But what aspect of the risk, who knows!

Some tutors say not to bother doing old section A’s as they are not related to the current pre seen. But I think students must at least read through old Section A’s or they will never know how to apply the scenario. And they will never get to know the examiners style.

My thanks to Maryla for her great advice there. I hope you found it useful. Remember, you can check out her blog at http://marylastevensoncima.wordpress.com/

As ever, if you have any questions or comments of your own, please drop them into the comments box below and you’ll be sure to receive a prompt response.

Share Button