Tips For Taking The Test
There are strategies for taking standardized, multiple-choice tests. Of course, there is no substitute for knowing and recording the correct answer. But when certainty fails you, here are a few good guidelines:

  • Read the entire question and possible answers carefully and more than once if necessary.
  • Avoid answering too quickly. Be certain that you understand what is being asked. Look for key terms. See the forest for the trees.
  • Be wary of distractors. If you are well prepared, you will understand that they are not relevant to the question.
  • If flummoxed by a question, do not spend an inordinate amount of time on it. Mark it for review and move on. Better to return to it later when it may well be clearer with the passage of time. Some questions present information less directly than it appeared when you were studying it.
  • Pace yourself, keeping track of time. Reach for the low hanging fruit. Come back to the difficult questions that you have marked for review once you've completed all of the exam questions.
  • Use the calculator provided to answer problems that require calculations. Double check your work to ensure accuracy.
  • Avoid changing answers. Your first impulse is usually correct. Fail to heed to this principle at your peril. Sometimes information in another question may shed light on the one about which you have doubts and whose answer you may be inclined to change. Be extremely careful.
  • Eliminate answers that are obviously wrong before moving on to any guessing games.
  • If two choices sound similar, then either both are incorrect, or one is more correct than the other. The latter may be the right answer.
  • If two choices are opposites, then one of them is probably right.
  • Answers featuring such absolutes as "all" or "none" are usually wrong. Most situations are a bit more nuanced.
  • The most obvious answer is probably wrong, but the second-most obvious answer is probably right. There are exceptions, however. Always read the question completely and carefully.
  • If four numbers are given as possible answers and two of them are close together, then one of those two is probably right.
  • If four numbers are given as possible answers and two of them differ only by a decimal place, then one of those two is probably right.

You have probably figured out that these shortcuts have the potential to rule each other out. It is also possible that the crafty test writers who prepare the Series 3 exam will know these shortcuts and will work around them. Remember, these are just ways to help you improve your odds when you have absolutely nothing left to go on but your best guess.



Series 3-Specific Hints

Related Articles
  1. Financial Advisor

    6 Proven Tips For Series 6 Success

    These techniques can help you pass this test without the added stress.
  2. Financial Advisor

    Tips on Passing the CFA Level I on Your First Attempt

    Obtain valuable tips and helpful study instructions that can help you pass the Level 1 Chartered Financial Analyst exam on your first attempt.
  3. Personal Finance

    Common Interview Questions for Financial Analysts

    Learn more about the career of financial analyst, along with specific potential interview questions and answers for this type of position.
  4. Investing

    Top 9 Questions Investors Should Ask Management

    Find out how to get the answers you want without getting the company line.
  5. Personal Finance

    5 Tough Interview Questions And How To Answer Them

    Don't get caught unprepared when your prospective employer throws these questions at you in the interview.
  6. Tech

    Common Interview Questions for Data Analysts

    Learn how to prepare for your data analysis job interview by having solid answers to these common questions that measure your knowledge and effectiveness.
  7. Insights

    Investors Share Their Fears Following Election

    We asked, and you answered: what's your biggest financial concern after the 2016 election?
  8. Financial Advisor

    Toughest Questions Clients Ask Advisors

    Here are some of the toughest questions clients ask and how advisors should answer them.
  9. Financial Advisor

    Investopedia Advisor Insights FAQs

    Investopedia tackles some frequently asked questions regarding Advisor Insights.
Frequently Asked Questions
  1. What is the difference between Communism and Socialism?

    Learn how some countries are incorporating socialist methods into capitalism.
  2. What's the difference between a stop and a limit order?

    A limit order is an order that sets the maximum or minimum at which you are willing to buy or sell a particular stock. With ...
  3. What is the formula for calculating earnings per share (EPS)?

    Learn why earnings per share (EPS) is often considered to be one of the most important variables in determining a stock’s ...
  4. What is the formula for calculating internal rate of return (IRR) in Excel?

    Understand how to calculate the internal rate of return (IRR) using Excel and how this metric is used to determine anticipated ...
Trading Center