Start at the End and Know Your Outcome
Have you ever gone on a long journey by car, or bus or by foot? Did you ever set off without knowing where you had to get to, or by what time?
I bet not! But that’s exactly what some accoutancy students do when they start learning for their exams. They dive into the study materials without first knowing their outcome – where they want to end up. The problem with this is that they set off, but don’t know where they are going, and therefore can’t tell if they are on track or not! Worse still, they don’t even know if they have reached their destination! Let me explain…
What Are the Pass Marks You Need For Your Exams?
Most students should be able to tell this immediately. For example “I need 50% to pass this particular exam”. But how many focus on Pass Rates?
Pass rate is the percentage of students who passed the exam out of all the students. So if this is 70%, then 70 out of a 100 students passed the exam.
Now the question is, do you know the pass rate for each of your upcoming exams?
Why Pass Rates Matter
Pass rates matter because they tell you two things:
1) How effectively students work for the exam and/or
2) How hard the exam is
For example if the pass rate is only 40% that tells you one of two things:
1) Either students are not preparing effectively for this exam and/or
2) This is exam is very difficult
So if you understand this you can react by looking at the way other students are preparing for this exam and knowing you have to either be more effective than them, or work harder! And you will know to work even harder for this exam because it could be that the exam is particularly difficult.
For one of my qualifications the average pass rate was around 45% FOR ALL EXAMS. Guess what? I knew to work my butt off for those exams!
So please do pay attention to pass rates, they can be the key piece of information you need to get you through your exams.