How can you maximise your chances of winning a CIMA prize at your next exams? By Andrew Carr, examinations and assessment manager, CIMA.
Part of my role is to oversee the compilation and circulation of the prizewinners and commendees lists after each exam sitting.
The prizewinners are the candidates with the highest mark in each of the ten professional papers and the candidates with the three highest aggregate marks at strategic level (their marks for P3, P6 and P9 combined).
Each of them receive a prize cheque, a prize certificate and (with the exception of P10) their choice of a CIMA study system for their next examination sitting.
The commendees are the candidates with the second to tenth highest marks in each of the ten professional papers and the candidates with the fourth to tenth highest aggregate marks at strategic level. Each of these receive a letter of commendation.
Highest marks in papers
The two most common queries I receive from candidates are 'What was the highest mark in the paper I sat?' and 'What mark do I need to get to win a prize?'
To answer the first question: it is longstanding CIMA policy, in line with the Data Protection Act 1998, not to provide third parties with a candidate's marks, including those of the prizewinners.
However, I can provide candidates with their own world and/or national ranking for the paper. These requests must be in writing. An email is perfectly acceptable.
To answer the second question: here are seven hints and tips from comments made by actual CIMA prizewinners on their study and revision methods which contributed directly to their success and their winning of a CIMA prize.
Attend a formal course of study/revision
Although it is not unknown for prizewinners or commendees to have studied on their own, the vast majority of prizewinners and commendees have attended college courses (either private or public sector).
You can search our database to find out if there is a college near you.
Compile a study calendar
Put together a realistic calendar of what you are going to study and when, leading up to the exams.
Make sure you also schedule days off and breaks, otherwise it can seem like too much to take on. Dedicated, regular study is essential for success at professional exams.
Early receipt of study materials
Get hold of course materials early on, and make your own notes. This ensures that later on you're not spending valuable revision time still making notes and trying to understand the material.
Practise past questions
Every CIMA prizewinner recommends sitting past question papers under simulated exam conditions as a test of knowledge gained, knowledge gaps and of exam technique - especially ensuring that the exam time allocations per question are adhered to.
You can download all papers, from May 2005 to November 2008. Each edition of Velocity also carries one or more model answers to exam questions.
Review post exam guides
For each paper set under the current CIMA syllabus, a post exam guide is available as a free download.
These guides are written by the examiner for the paper concerned and focus on recommended approaches to answering the questions set. They also highlight common errors made by candidates, so that these can be avoided by candidates at future settings.
Wider reading
Articles in the Financial Times, The Economist, and the CIMA magazine Financial Management were recommended.
Practical application
Try to apply the knowledge at work and ask colleagues responsible for different finance areas (for example tax, treasury, investor relations) to talk you through their work and responsibilities.
Contact us
You can contact us with your feedback and suggestions for Velocity at velocity@cimaglobal.com.