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Best CPA PEP study material/strategies for Core 1, Core 2, Electives?

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  • Jan 4th, 2019 9:39 am
Member
Aug 12, 2016
269 posts
67 upvotes

Best CPA PEP study material/strategies for Core 1, Core 2, Electives?

For Core 1, i want to ask people what are the best notes especially for Financial reporting where you have to remember and memorize the ASPE, IFRS stuff. The problem i faced the last time i studied for Core 1 was struggling to memorize everything on financial reporting due to which i was having problems with applying them on case studies and MCQ's. My back Sciatica problem also flared up due to which i failed to withdraw from the exam on time and now have been charged a module attempt.

For Core 2, what are the best notes for Managerial Accounting.

My problem is i spent so much time memorizing all the technical and very little time practicing MCQ's and Cases as i fear without knowing the technical stuff it is impossible to do the cases and the MCQ's.

Is it possible to clear the PEP exams without relying heavily on all the materials from Densmore, PASS, Prepformula?

Based on my observation Prepformula notes were the worst but they had the most questions. PASS notes were not all that organized, Densmore notes were pretty neatly organized. I also wanted to ask whether relying on the Oracle notes is sufficient?

Would like some good feedback as i am determined to clear the CPA PEP exams asap now and don't want to waste any more time.
9 replies
Deal Addict
User avatar
May 23, 2010
1755 posts
258 upvotes
Ontario
Practising the cases and MCQ timed and debriefing them properly are key. Make sure you do the mock exams especially for electives. HTK Consulting has good free notes but tax stuff are kind of outdated. It's challenging to memorize IFRS ASPE and ASNPO but I used a mix of a colleague's summary notes and some of Densmore competency map notes. I found prepformula webinar summary slides a bit helpful actually.

Passed Core 2 and PM using cpa materials plus a bit of Densmore notes.

People relied on Oracle documents and cpa materials and still passed.

Also for financial reporting issues, it helps to know how to navigate the PDF handbook in secureexam when finding criteria especially for long stuff like research and development costs criteria. Very important to practice in SE even though it is frustrating to use.
Jr. Member
Jan 3, 2017
152 posts
91 upvotes
OP - If you have a medical issue, you should be exempt from attempt. E.g. Defer to a future date with doctor's note. I deferred my exam twice already due to medical issues.

For studying, there' so much damn material, it's impossible to cover it all. The Oracle has so much topics, could take forever to go through them all. I feel like you need to practice all the MCQ's and cases and then study/get help on any topics with trouble with. It's hard to say what works and what doesn't since I knew people that studied only Oracle and passed and some studied mcq's/cases and passed.
Newbie
Sep 2, 2014
38 posts
5 upvotes
Kitchener, ON
For Core 1 and 2, I just took a day off before the exam and studied the solutions to the CPA materials.

Core 1, most of the FR stuff you can refer to the handbook while doing the exam(just be familiar for how they want you to write it). And i believe CPA materials prepare you well enough for the assurance part. I barely studied tax as it has little weight on the exam.

Core 2, I remember the cases on d2l covered the topics you needed to know.

The way I look at it is that pass rates for these exams were around 80-85% and the competition is not that stellar so as long as you finish the exam you should pass. Also, I think CPA places more weight on the cases than they say. My co-worker blind guessed 25 multiple choice questions(did not achieve a competent in any of the MC sections) as she ran out of time and still passed(not a marginal pass).
Member
Aug 12, 2016
269 posts
67 upvotes
How are the HTK consulting notes as far as Financial Reporting is concerned? Surely they cannot be that out dated?
Member
Aug 12, 2016
269 posts
67 upvotes
Also lets say you are allowed to Challenge the exams. How can you get access to the Module cases, Module Quizes, Oracle documents?
Deal Addict
User avatar
May 23, 2010
1755 posts
258 upvotes
Ontario
Savak2015 wrote: Also lets say you are allowed to Challenge the exams. How can you get access to the Module cases, Module Quizes, Oracle documents?
Since you had a module attempt, you may have access to your old course shell and cases and MCQ. However, don't quote me on it. Oracle will always be there until u finish CFE. Module 0 has a link to practice C1 mcq. Some questions are recycled from the weekly quizzes. There's a mock C1 exam available on cpa Canada site (via challenge exam course shell).

HTK Consulting FR notes are mostly fine even though joint ventures for ASPE (ASPE 5555) is replaced by ASPE 5556.
Deal Addict
User avatar
May 23, 2010
1755 posts
258 upvotes
Ontario
monchers wrote: For Core 1 and 2, I just took a day off before the exam and studied the solutions to the CPA materials.

Core 1, most of the FR stuff you can refer to the handbook while doing the exam(just be familiar for how they want you to write it). And i believe CPA materials prepare you well enough for the assurance part. I barely studied tax as it has little weight on the exam.

Core 2, I remember the cases on d2l covered the topics you needed to know.

The way I look at it is that pass rates for these exams were around 80-85% and the competition is not that stellar so as long as you finish the exam you should pass. Also, I think CPA places more weight on the cases than they say. My co-worker blind guessed 25 multiple choice questions(did not achieve a competent in any of the MC sections) as she ran out of time and still passed(not a marginal pass).
They curve the exams for sure. I also heard things about cases being given more weight. But it doesn't guarantee anything. I knew someone who did good on her Core 2 case and got shot down by the MCQ. General rule of thumb is to do a reasonable job across the board and hope to get as many Cs. Some RC is okay though.
Jr. Member
Nov 13, 2016
171 posts
82 upvotes
I'm starting Core 1 in January, any tips/recommendations? links to study materials? Thanks.

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