CONTENTS

PART A: EXAM MARK ALLOCATIONS……………..…………………………………………….….2 PART B: GUIDELINES TO ANSWERING EXTENDED RESPONSE QUESTIONS*…………….4

Overview…………………………………………………………………………………4

Table of instruction words…………………………………………………………....6

*Extended response questions may also be referred to as written response questions.

GENERAL GUIDELINES FOR EXAM PREPARATION CPA PROGRAM AND PRACTICE MANAGEMENT EXAMS

SEMESTER 2 2015

PART A: EXAM MARK ALLOCATIONS

Advanced Audit and Assurance Exam consists of 90 multiple choice questions (1 mark per question) Exam total = 90 marks Advanced Taxation Exam consists of 60 multiple choice questions (1 mark per question) Exam total = 60 marks Contemporary Business Issues Exam consists of 80 multiple choice questions (1 mark per question) Exam total = 80 marks Ethics and Governance Section A — Multiple choice questions – totalling 60 marks (1 mark per question) Section B — Extended response questions – comprises 2 case studies totalling 25 marks Exam total = 85 marks Financial Reporting Section A — Multiple choice questions – totalling 45 marks (1 mark per question) Section B — Extended response questions – comprises 2 case studies totalling 20 marks Exam total = 65 marks Financial Risk Management Exam consists of 70 multiple choice questions (1 mark per question) Exam total = 70 marks

Global Strategy and Leadership Section A — Multiple choice questions – totalling 16 marks (1 mark per question) Section B — Extended response questions – comprises 1 minor case study totalling 30 marks

Section C — Extended response questions – comprises 1 major case study totalling 34 marks Exam total = 80 marks Malaysia Taxation Section A — Multiple choice questions – totalling 20 marks (1 mark per question) Section B — Extended response questions – comprises 4 cases studies totalling 60 marks

Exam total = 80 marks

Practice Management Section A — Multiple choice questions – totalling 50 marks (1 mark per question) Section B — Extended response questions – comprises 2 case studies totalling 30 marks Exam total = 80 marks Singapore Taxation Extended response questions – comprises 5 case studies totalling 100 marks Exam total = 100 marks Strategic Management Accounting Section A — Multiple choice questions – totalling 60 marks (1 mark per question) Section B — Extended response questions – comprises 2 case studies totalling 25 marks Exam total = 85 marks

PART B: GUIDELINES TO ANSWERING EXTENDED RESPONSE QUESTIONS

Overview

The exams for the following subjects include a combination of multiple choice questions and extended response questions (extended response questions may also be referred to as written response questions):

Ethics and Governance

Financial Reporting

Global Strategy and Leadership

Malaysia Taxation

Practice Management

Singapore Taxation (extended response questions only)

Strategic Management Accounting

Extended response exam questions are designed to assess your knowledge and understanding of key concepts, and your ability to apply these concepts to a set of case facts and scenarios.

Provided in this section are guidelines to assist you in answering extended response exam questions.

Allow sufficient time to answer the questions

The exam outlines the suggested time allocation for the multiple choice and extended response sections. Check your exam structure document for the marks allocated to extended response questions.

You can use the information in Part A of this document to calculate how much time to spend on the exam questions. For example, if the extended response questions are worth 60 marks out of 80, you would spend 75 per cent of the exam’s total time of three hours and 15 minutes on the extended response questions, or approximately two hours and 30 minutes.

Ensure you do not spend more than the allocated time on the extended response questions. For the multiple-choice questions, if you don’t know the answer to a question, move on. If you have time left at the end of the exam, you can come back to finish any incomplete questions or to select an answer for a multiple choice question.

Read the questions carefully to gain a clear understanding of what is expected in your answers

You should ensure you answer the question that has been asked. If, for example, you are asked to explain two items but you explain more than two, only your first two items will be marked.

The question will include an important instruction word which tells you what you have to do. The table on pages 6 and 7 lists some of the most commonly used words and their meanings.

Use a logical structure in your answer. Consider the issues involved and apply them to the facts of the case.

Marks will be given for a well-explained and logical argument that identifies relevant issues. It may help to prepare an outline of your answer first.

You should support your argument with appropriate references to the facts of the case study. Marks are not deducted for incorrect answers.

Keep to the point

Marks are awarded for the content of your answer. Your response should include sufficient detail to cover the relevant issues and to clearly answer the question. Marks will not be awarded for quoting sections of the study guide, for repeating the question or for providing information that is not related to answering the question.

You can use the number of marks allocated to each question as a guide to the appropriate length of your response. For example, the answer to a question worth four marks would be expected to be significantly shorter than the answer for a 10 mark question.

Use a clear layout for your answers

Consider using headings and sub-headings

You may wish to present your answer in point form where this is sufficient to answer the question.

Table of instruction words

Instruction word What you are required to do

Analyse Look further into an issue than simply describing or explaining it.

Break the issue down into its parts, highlighting the structure and relationships.

Examine each part of the issue in detail and interpret it in terms of its effects.

Apply Use a theoretical concept or a principle and relate it to the case facts or to the information provided.

Argue Present the case for or against a particular opinion, idea or view and come to a conclusion.

Compare/contrast Note the similarities and differences between an opinion, idea or view.

Critically examine / explore

Give your view about the merit of theories or opinions.

Support your view by a discussion of the evidence or facts.

Define Set down or clarify the precise meaning of a word or phrase.

Describe Give a detailed account of the term or issue.

Discuss Describe the various parts of the issue or problem.

Look at the issue from a number of different aspects.

Consider various parts of the issue or problem.

Investigate or examine by argument or debate, giving reasons for and against.

Provide a conclusion based on your arguments.

Evaluate Determine the importance of the issue when compared to other issues.

Assess the validity of an argument or conclusion.

Include your personal opinion and come to a conclusion supported by appropriate facts, evidence or reasoning.

Examine Define the issue or concept and break it down into its parts.

Describe each part in depth.

Describe the implications.

Explain/Show In a step-by-step manner, give the reasons for how or why something is the way it is.

Make plain, interpret, and make your points in detail.

Identify State or give the information asked for, with reference to its characteristics or features if applicable.

Illustrate Use an example to explain and make clear.

Interpret Explore the meaning of, and make clear.

Usually give your own judgment or come to a conclusion as well.

Justify Explain the reasons and basis for decisions or conclusions.

Provide evidence to support your arguments.

List Name or identify a number of factors.

Instruction word What you are required to do

Outline Describe the main features or general principles.

Briefly describe the structure and relationship of the points made.

Relate Describe how things are connected to each other.

Describe to what extent they are alike or affect each other.

Review Consider, investigate, analyse or explain, examining the subject critically.

State Specify fully and clearly.

Summarise Give a concise account of the main points, omitting unnecessary details and examples.

[Adapted from Marshall, L. & Rowland, F. (1998) A guide to learning independently, third edition, Longman: Personal Education Australia]