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Hello,
So I've been studying pretty much full time for eight weeks, and I still don't feel confident enough to take the Financial Accounting CLEP. My REA test scores were 49% and 51% and my Peterson's scores were 49% and 51% as well. Usually by this time, my scores are much higher like in the 60%. Now I'm wondering what to do. I have read that the Dantes Principles of Financial Accounting is easier, since it only has four answer choices and fewer math problems. However, I would hate to have to buy all new materials for the Dantes. Can you guys give me more advice about which one is easier and which one you would recommend for me to take? I have been studying with REA, Instantcert, and two financial accounting websites. I feel like I know the concepts pretty well, but when I get into the practice tests, the questions suddenly look like Greek, and the multitude of math problems take so much time that I feel like I'm rushing haphazardly through the test. Any suggestions or tips would be sincerely appreciated! Thank you guys!!
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Well, I haven't taken the CLEP, so I can't comment on that test. I have, however, taken the DSST. The only thing I did was read a textbook and took the test. I was a total rookie—hadn't done any accounting or finance whatsoever, but I passed!
I would imagine that some of the info would overlap between the two tests. If you do decide to take the DSST, I still have the textbook I used (it's a 2003 edition I think, but it still works!) and I'd be willing to give it to you for $5 shipped. You probably could just browse over the book real quick (a day or two) and be good to go!
Best wishes!
"I do not feel obliged to believe that the same God who has endowed us with sense, reason, and intellect has intended us to forgo their use." Galileo Galilei
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I did terribly on accounting, because I didn't study enough of the math side of things, and went to take the test, mostly because I was getting fed up of the time it was taking (my scores weren't good), and failed the CLEP with a 45.  I then continued studying, making sure I had the math down, to take the DSST, only to find that that version has LESS math than the CLEP! Thankfully, I barely passed, with a 47 (pass IS a 47!).
Besides the difference in the way of less math, more vocabulary/terms, both the tests are similar; you shouldn't have to buy the DSST materials.
One thing I DO recommend, is that you buy the BAII Plus financial calculator; it is a legal and VERY useful calculator to use with all the math questions for both versions of the test. Depending on where you live, it might be profitable for you to "rent" it from me; I'd only charge you the sending/returning shipping costs. (I have the calculator and manual). If your interested, let me know, here, or at starlingsgone@gmail.com .
If I'd had this calculator for Fin. Accounting, I might have had a better chance at passing; it definitely played a huge part in my passing Principles of Finance DSST! I know I wouldn't have been able to score the 422 I did without it!
I'd say, get and learn to use the BAII Plus, then take a practice test, and see how you do. I'm pretty sure you could pass either the CLEP or DSST this way. (Just keep in mind the "more vocab./terms" factor with DSST version).
- Sam
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Thanks Ubuntu_user and starling hunter for your input! I appreciate the offers of the book and calculator, but I do not think I will need them.
I may continue studying for the financial accounting CLEP right now, but I will start to seriously consider the DSST exam if my scores do not improve soon. In the meantime, I have ordered another book and will start working on the math part of the exam a little harder as this seems to be the hardest part of the exam for me. I would like to take a practice DSST exam and see if my scores are considerably better. Does anyone know where I can find an online practice test for DSST Principles of Financial Accounting?
Thanks!
CollegeBound2
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I don't know of any practice tests for Fin. Accounting other than from the REA and Official CLEP book, or the Official DSST book (for DSST version), but here is the link for the book, Principles of Corporate Finance, which has some useful quizzes and the interactive FinSims which are pretty helpful.
Principles of Corporate Finance
If your having trouble with the math side of things, I would still insist on you getting the BAII Plus.
I studied for a LONG time for the CLEP, and finally took it, 'cause I was exasperated with the time it was taking...and failed (score of 45). I really think I could have kept a clean pass record, if I had only bought and learned to use the BAII Plus. It really doesn't take very long to figure out how it's functions.
- Sam
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Just realize that you cannot take a physical calculator into the testing room for the CLEP exams, but you are permitted non-programmable calculators to take in with you for the DSST exams. This is another difference between the 2 testing programs.
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I did full research on this calculator (the BAII Plus), and found that it is an accepted, non-programmable calculator which can be used for the DSST version. As to the CLEP version, your probably right; I only researched for DSST tests.
Here's another link, college bound2, to the more relevant book, Financial Accounting. This book does not have the interactive FinSims, though.
Financial Accounting
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Yep, I would just feel bad if someone got used to the BAIIplus, planning to take the CLEP version of financial accounting only to find out they are stuck with the online 4-function calculator -- not the same thing at all! Just making sure everyone knows the difference during their prepping time.
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Right, I had assumed it was the same for CLEP before.
Thanks for the input.
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Hello,
Thank you for all your helpful replies and for the links for the quizzes starlinghunter! I ordered the official test preparation guide for dsst and took a practice test today and got 64% right. That is about 14% better than what I had been getting on my CLEP practice tests. So now I'm thinking I'm going to take the dantes, but I just wanted to ask if anyone knows if the financial accounting dantes has been updated or not, because the book I ordered is 12 years old. I know that other dantes tests have been updated, but I have not seen this one on the updated list. As far as I know, there are no other updated practice questions anywhere else that will tell me if the test I took in the book is accurate to the real deal. I am still new to taking dantes, so I am not as up-to-date with them as I am on CLEPs.
Again, thanks in advance!
collegebound2
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