CA Foundation: Tips And Tricks To Crack The Exam

The Institute of Chartered Accountants of India currently conducts the CA Foundation test twice a year, replacing the CA-CPT exam.

This year, the CA Foundation exams will be held on July 24, 26, 28 and 30 and the same will be conducted under the new scheme. The examination will be conducted in two shifts. It is a prerequisite exam and the first stage for those interested in pursuing a career as a Chartered Accountant.  Post this exam, one also has to clear the intermediate and final stages.

As we approach the exam dates, here are some of the tips and tricks to crack the foundation exam provided by Mayur Nahta of Unacademy: 

  1. Write mock tests and practice revision papers: Investing a substantial amount of time and effort into taking mock tests will expose you to a variety of questions and prepare you for the exam. In addition to this, try to answer as many questions as possible from the revision exam papers as it will assist you in determining your strengths and weaknesses. Also, considering MCQ-based papers such as economics and maths are high-scoring, set aside time to solve them.
  2. Make your own timetable: Plan your schedule at least 15 days ahead of time. Distribute all subjects over a number of days, allowing at least five days for each subject, and then study up to 12 hours on each of those five days. Determine how much time you will devote to each chapter based on its volume, importance, and level of difficulty. Students may note the number of hours they need to commit to each chapter on the index page of their books or study materials. 
  3. Stick to your study materials: In the last days of preparation, adhere to the study materials you have been referring to from the beginning and do not pick study materials that are unfamiliar to you. If necessary, supplement your regular course materials with ICAI study materials and refer to the most recent study materials rather than the older ones. The syllabus changes every other year. So stay up to date.
  4. Take breaks in between study time: Instead of spending time on potentially addictive social media, watch something refreshing like stand-up comedy or listening to music to clear your mind. To break the monotony of lengthy hours of studying and to give yourself some rest, you should also nap in the afternoon. It boosts our concentration and energy levels.
  5. Maintain sticky notes & key points for each subject: It is natural for people to forget things. Do not be alarmed. Instead, make a list of the most important points from each chapter in your reading material. You have 24 hours before the exam to revise, of which you can use 12-14 hours to study well. Read your notes and essential points, and things will start to fall into place.
  6. Know your strong subjects:  Make a concerted effort to improve in the subjects where you excel. Students can earn a rank if they are well-prepared in at least two topics and score 85 or higher in each subject. Also, instead of following someone else's study method, develop your own. Stick to it, finish the syllabus, and revise at least twice. 
  7. Do not waste time on one question:  Remember, you only have 15 minutes to read the question paper. So, in that 15 minutes, note down the questions you are most familiar with and try to answer them first. The remainder can be done afterwards. Proceed to the next question if you are unable to solve a certain question. 
  8. Keep your mind cool before the exam: Do not put yourself under too much stress by reading a lot at the last minute. Allow your mind to recall what you have learned previously. The day before the exam, students can go over the important points and a summary of the logic of the cases. Also, do not read your question paper or check for answers after you reach home. Prepare for your next exam instead. Moreover, eat healthily and get enough rest to help you relax.

CA is one of the most in-demand careers in the country. Around 4.7 lakh applicants sat for the CA test last year. As the exam was postponed this year due to the pandemic, aspirants must use this extra time to focus on their revision. Additionally, do not forget to check the ICAI official website regularly for all the important updates. 

Disclaimer: The views expressed in the article above are those of the authors' and do not necessarily represent or reflect the views of this publishing house

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