Technical Evaluation Study Advice

Below is some good Technical Evaluation study advice from an examiner that has been there.

Technical Evaluation EXAMINATION

EXAMINATION DATE: 8-31-95

NEW YORK EAST FIELD OFFICE

The test definitely has some tricky questions; however, I didn't feel like they were out to get me or anything.  I also wasn't expecting that there would be as many "gimme" questions as there were.  I remembered a lot of questions from my test, but unfortunately most of the ones that I forgot were the harder ones (and the ones with multiple answers).  I studied for about 5 hours a week (not much time) on average for about 8 to 10 weeks.  Then, I had 6 days in the office.  I also had about 12 hours on the job.  The night before the test I studied for 5 hours and the morning of the test I went into the office at 5:45 a.m. to do some more cramming.  It probably wasn't worth it, though. . . if you don't know the information by the morning of the test, your not gonna know it.

I don't think I studied the way that most people do.  For example, I didn't even read most of the R&R, SOP, BHC Act, etc.  Rather, I concentrated on the really important stuff.  Here's what I did:

• First, I read the manual cover to cover.  I also read any important regs. and stuff when I got to the corresponding section of the manual.  For example, when I read the loans section, I also read Part 323, Part 365, SOP on low-doc loans, etc.
• The next thing that I reviewed were outlines that someone from another region gave me on the R&R, SOP, BHC Act, and misc. regs.  These outlines gave me a general overview of the obscure areas, so that I didn't have to waste my time reading the actual regs.
• Next, I reviewed an outline that someone from another region prepared on the DOS manual.  This reinforced what I had already read.
• Next, I reviewed the questions that I had from the old Technical Evaluation exam.  Even though there were only a few questions on my test that came from this information, I would recommend reviewing them, because they helped a lot in learning the topics.
• Next, I read the following items that I thought would be really important.  They definitely were!

325 (know this one backwards and forwards, including the 323 appendix)

365

23A

23B

Reg. O

Reg. U (other people had a lot of questions on this)

FDI Act - Section 8

FDI Act - Section 38

Project Best - Reg. O **

Project Best - 23A & 23B **

• * The Project Best study guides are the things that we got as pre- course work for second school.  These were VERY helpful.  If you lost yours, somehow get hold of them from someone.
• Next, I reviewed all of the test questions that people sent me for the new exam.  As I read the questions, I tried to research the appropriate DOS manual sections.  I probably re-read the entire manual at least once during this process.  Be careful with the answers that people give you on the new questions (including mine) because a lot of them are wrong.  You kind of have to just take the question for what it's worth and make your own researched decision.
• The next thing that I reviewed (and this is VERY important) were the new report instructions.  You have to have every single ratio and its components memorized.  Even the long ones, like liquidity and dependency.  And even the BHC ratios!  Also memorize the little blurbs at the top of each of the core pages on what each component is rated in relation to.  This is good for three or four questions.
• Next, I reviewed the glossary to the call report instructions.  Focus on TDR, FASB 91, etc.  You can kinda pick out the important areas just by looking. This is good for two to three questions.
• Once I reviewed all of these areas, I started to re-review my weak spots and I went through all of the sample questions again.  You can sort of pick up on the most important areas by looking at these questions.
• Overall, I would recommend focusing on the important parts and not cluttering your brain with all of the obscure information that they included in the old test.  It wastes study time and clogs your mind.  And try to have some confidence in yourself. I had NONE after looking at the new questions, so I really stressed out.  I honestly expected to fail when I walked in there, but once I started reading the questions I realized that I knew the stuff, and I did really well.  Also remember that even if you get below a 75, your grade can be petitioned and, if you have good on-the-job performance, you can get your commission anyway.

Here's another tip: When I got to my testing center, they didn't have a copy of the test booklet, so they were going to have to re- schedule me.  Luckily, there are two testing centers in Manhattan and they were able to send me to the other one.  However, most of you don't have two testing centers so close together and would have been re-scheduled.  So, call ahead and make sure that they have the appropriate materials for you.

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