Test Taking - Tips For Taking The Test

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. Economics

    4 Countries Pleading for Higher Commodity Prices

    Discover what countries are struggling the most from the price collapse in commodities and what these countries require to return to economic growth.
  2. Stock Analysis

    Glencore Vs. Noble Group

    Read about the differences between Glencore and Noble Group, two companies in the commodities business. Learn about accounting accusations facing Noble Group.
  3. Chart Advisor

    Watch This ETF For Signs Of A Reversal (BCX)

    Trying to determine if the commodity markets are ready for a bounce? Take a look at the analysis of this ETF to find out if now is the time to buy.
  4. Investing Basics

    The Importance of Commodity Pricing in Understanding Inflation

    Commodity prices are believed to be a leading indicator of inflation, but does it always hold?
  5. Options & Futures

    What Does Quadruple Witching Mean?

    In a financial context, quadruple witching refers to the day on which contracts for stock index futures, index options, and single stock futures expire.
  6. Options & Futures

    4 Equity Derivatives And How They Work

    Equity derivatives offer retail investors opportunities to benefit from an underlying security without owning the security itself.
  7. Fundamental Analysis

    Performance Review: Commodities in 2015

    Learn how commodities took a big hit in 2015 with a huge variance in performances. Discover how the major commodities performed over the year.
  8. Stock Analysis

    The Biggest Risks of Investing in SandRidge Stock

    Learn about the significant risks of investing in SandRidge. Read how the company may not be able to service its substantial debt load.
  9. Options & Futures

    Five Advantages of Futures Over Options

    Futures have a number of advantages over options such as fixed upfront trading costs, lack of time decay and liquidity.
  10. Chart Advisor

    These 3 ETFs Suggest Commodities Are Headed Lower (COMT,CCX,DBC)

    The charts of these three exchange traded funds suggest that commodities are stuck in a downtrend and it doesn't look like it will reverse any time soon.
RELATED TERMS
  1. Nonrenewable Resource

    A resource of economic value that cannot be readily replaced ...
  2. Warrant

    A derivative that confers the right, but not the obligation, ...
  3. Swap

    A derivative contract through which two parties exchange financial ...
  4. Hedge

    Making an investment to reduce the risk of adverse price movements ...
  5. Convergence

    The movement of the price of a futures contract towards the spot ...
  6. Crude Oil

    Crude oil is a naturally occurring, unrefined petroleum product ...
RELATED FAQS
  1. What is a derivative?

    A derivative is a contract between two or more parties whose value is based on an agreed-upon underlying financial asset, ... Read Full Answer >>
  2. Which mutual funds made money in 2008?

    Out of the 2,800 mutual funds that Morningstar, Inc., the leading provider of independent investment research in North America, ... Read Full Answer >>
  3. Do hedge funds invest in commodities?

    There are several hedge funds that invest in commodities. Many hedge funds have broad macroeconomic strategies and invest ... Read Full Answer >>
  4. Is a financial advisor required to have a degree?

    Financial advisors are not required to have university degrees. However, they are required to pass certain exams administered ... Read Full Answer >>
  5. Can mutual funds invest in options and futures? (RYMBX, GATEX)

    Mutual funds invest in not only stocks and fixed-income securities but also options and futures. There exists a separate ... Read Full Answer >>
  6. Can I use my IRA to pay for my college loans?

    If you are older than 59.5 and have been contributing to your IRA for more than five years, you may withdraw funds to pay ... Read Full Answer >>
Hot Definitions
  1. Black Swan

    An event or occurrence that deviates beyond what is normally expected of a situation and that would be extremely difficult ...
  2. Inverted Yield Curve

    An interest rate environment in which long-term debt instruments have a lower yield than short-term debt instruments of the ...
  3. Socially Responsible Investment - SRI

    An investment that is considered socially responsible because of the nature of the business the company conducts. Common ...
  4. Presidential Election Cycle (Theory)

    A theory developed by Yale Hirsch that states that U.S. stock markets are weakest in the year following the election of a ...
  5. Super Bowl Indicator

    An indicator based on the belief that a Super Bowl win for a team from the old AFL (AFC division) foretells a decline in ...
Trading Center