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+--- Thread: Money and Banking - I'm Scared (/Thread-Money-and-Banking-I-m-Scared)
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Money and Banking - I'm Scared - jadechow - 04-07-2009
Hi All,
I am in the process of studying for M&B and I must admit that I am terrified. :eek: This exam has really freaked me out! I have both the Mishkin and Ritter textbooks from the DSST exam outline and am reading both. I also got the REA Esstentials I and II (thanks for the suggestion, Matt!) and have poured over the feedback forum for this test.
So, why am I soooooo scared? Is it because it's supposed to be one of the harder exams? Because there's no Peterson's-test-safety-net? Because I am wasting time searching "M&B" in the forum and reading old posts? Because I'm just a goofball who likes to over-prepare? I don't know but I am sufficiently freaked out to consider scrapping the whole thing and actually taking a class instead (horrors!).
Please, ICers, help me with your words of wisdom. Give me the pep talk/kick in the pants/scared-straight love that I so desperately need.
All my best,
Kelly
Money and Banking - I'm Scared - mlwilliamsiv - 04-07-2009
Hello Jade.
Now you now that I hate it when you make me do this........but don't make me take off my belthilarious !!!
-Marshall
Money and Banking - I'm Scared - skyfall123 - 04-07-2009
You have killer scores on all of your exams, so you obviously are well prepared. I took the exam on a lark after three days of studying. I found that there were a lot of questions having to do with how, when, to whom and under what circumstances the Fed loans money to banks. I completely hedged my bets (answered repeat questions differently) when similar questions came up on the exam and still managed a passing grade. Having the core IC info down will get you a passing grade. Knowing the information well will put you in the 60'sor 70's.
PS spend a couple of hours here (especially look under policy tools) FRB: Monetary Policy
Money and Banking - I'm Scared - brothermike - 04-07-2009
I need this one too so please come back to this thread and let us know how you did
Money and Banking - I'm Scared - categ - 04-07-2009
Just take it! If you fail (you won't), then you can take a........(yuck)...class.
Money and Banking - I'm Scared - motuterry - 04-07-2009
jadechow Wrote:Hi All,
I am in the process of studying for M&B and I must admit that I am terrified. :eek: This exam has really freaked me out! I have both the Mishkin and Ritter textbooks from the DSST exam outline and am reading both. I also got the REA Esstentials I and II (thanks for the suggestion, Matt!) and have poured over the feedback forum for this test.
So, why am I soooooo scared? Is it because it's supposed to be one of the harder exams? Because there's no Peterson's-test-safety-net? Because I am wasting time searching "M&B" in the forum and reading old posts? Because I'm just a goofball who likes to over-prepare? I don't know but I am sufficiently freaked out to consider scrapping the whole thing and actually taking a class instead (horrors!).
Please, ICers, help me with your words of wisdom. Give me the pep talk/kick in the pants/scared-straight love that I so desperately need.
All my best,
Kelly
Ok, so you know it's a tough exam and in response you've prepared well for this one. Fretting won't help you. Take the plunge-kick butt and take names.
You can do this.
Best wishes,
-Terry
Money and Banking - I'm Scared - jadechow - 05-02-2009
I just wanted to follow up and let you guys know how this exam was -- TOUGH! MrMikes I know you have this one coming up at some point - just study, study , study, and you'll be ok.
Seriously, this is a tough exam but doable. The feedback in the specific exam section is great and to it I'd add the following:
There were questions along the lines of:
disintermediation has occurred when.....
Know why the Federal Reserve was created.
Know major debt instruments (as opposed to capital instruments)
What happens when the Treasury increases their deposits at the Fed?
To prepare I read both the Mishkin and Ritter recommended texts. I got the Mishkin off eBay and would be happy to sell it to anyone interested. I also bought both of the REA Essentials - M&B I and M&B II. They were extremely helpful. I personally thought IC was great for this exam; however, I would not make it your only source. The material is just sooooo broad that it would be unfair to expect IC to cover in 250ish questions what entire textbooks couldn't even cover.
Also, the notes in the feedback forum prepared (and graciously shared) by Dan Caridan are AWESOME!! I highly recommend them.
Good luck to anyone taking this exam in the future. It's doable. Please don't let yourself get psyched out (like I did) and just prepare for it.
Best wishes,
Kelly
Money and Banking - I'm Scared - skyfall123 - 05-03-2009
Congrats! I think that it is important to point out to others that although this exam is not easy, it is the type of exam where you can easily narrow down the possible answers and make educated guesses from there. Anyone who makes an initial run through the IC cards will realize that the exam is doable.
Money and Banking - I'm Scared - alleycat - 05-03-2009
Wow, congrats on a great test score!
Money and Banking - I'm Scared - P00057870 - 05-03-2009
Congratulations!