UP MBA Chronicles: The (1st) Proficiency Exam
As I have said in the previous section weeks/days after receiving the GPAT results will be the 1st proficiency exam. I said first because you will actually get another chance in the event you fail any of the five exam during the first take. Do yourself a favor and pass any one or two to save yourself from all that pressure. Got It?
The Proficiency exam consist of the ff as below. Each exam should be passed. Based on what I have heard circulating around (chism), I placed the unconfirmed passing score for each,
1. Financial Accounting - 35
2. Algebra - 7
3. Statistics - 6
4. Calculus - 7
5. Math of Finance 5
1. Financial Accounting
The Financial Accounting exam is 1 hour. It is a multiple set of exam (so far heaven knows what magic it could be in the future).I will strongly recommend that you attend the Accounting workshop as it is fun and very informative. I feel like an accountant thereafter I have attended ("Feeling accountant agad umattend lang ng workshop??") Anyway I will post a separate item regarding the workshops so let me get back to action. The accounting exam is difficult specially for those without accounting background or even if you have you may get confused as for some items the answers are closely related. And mind you this is not a calculating exam this is an analysis type of exam.
What to review:
- Financial Statements
- Balance Shit.. er... sheet
- Income Statement
- Cash Flow
- Inventory
- PPE
- I am sincerely trying to recall the last topic...its about shareholders stock and equity
*If I missed anything it should be because I was absent during the workshop day it was discussed.
Don't just review the "how to" of these items remember the exam is not very technical, it will test how well you understand each item.
2. Algebra
From time and memorial we have been dealing with algebra and yes it will still haunt you. The algebra exam during our time was a 10 Item give-the-final-answer type of question. The Horror! Can you feel it?
What to review:
- Linear Equations (one to three unknowns)
Just practice over some problems and see if you still got the magic of solving these type of questions.
3. Statistics
Should you have an exam to ace this should be the one. (yeah right like I aced it). The stat exam has 4 multiple items and 6 give-the-final-answer question. Did I mention that it was decided to give this kind of exam because the people are actually spilling the exam contents at PEX? But to me it doesn't matter you will pass whatever type of exam as long as you are knowledgeable. Even if they give you oral exam in the future, you will pass if you know how right? So hope they do... I mean don't. >_<!
What to Review:
- Measure of Central tendencies
- Probability
- Normal Distribution
4.Calculus
The calculus exam is different from those who are taking the MBA program and MS Fin Program. As an MBA applicant I can only share the MBA part and the chism (chismis) on the MS FIN. The Calculus so far was a multiple choice type of exam but who knows UP is very creative they may change it in the future so pray that they don't.
What to review:
- The Tangent Line Problem
- Limits
- Derivatives
- Min/max values
- Application in Economics (marginal cost/revenue)
- Integration (MS FIN)
5. Math of Finance
I don't really recall any question in this exam during the first take as I really have no idea what this is all about. (I have but I don't want too recall haha!)
What to review:
- Simple Interest
- Compound Interest
- Present and Future Value
- Annuities
- Perpetuity
- Application on Amortization and Stock
So actually I am planning to write about the second proficiency exam and the workshops but tomorrow I will get the results so depending on the result I might get the enthusiasm to write about it or the broken heart and make myself forget about it so... wish me luck tomorrow.... But above have pretty much summarized what the exam is all about. Just put some effort into it and if it is meant to be then you will achieve it, If not then there is always next year.
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