It’s March and the CMA Case Exam is just around the corner. Once again I feel like time has flown past me over the past few months. Having completed Module 3 out of 6 modules, we are now smack in the middle of the CMA qualification process.
I have started to “study” for the case exam and am in the process of building my strategy for the big day. I have the word study in quotes because you really can’t pick up a book and study for this exam. This is going to be all the knowledge and technical skills, we have built up during the past year put together in one exam.
Time management is key while writing the Case Exam. You only have 4 hours to come up with a solution that touches upon all aspects of the CMA Case Exam approach expected by the markers. I intend to allocate my precious 240 minutes as follows:
| Reading Additional Info | 15 | 6% |
| SWOT/KSF/CW/SI | 60 | 25% |
| Analysis of Alternatives | 68 | 28% |
| Recommendation | 10 | 4% |
| Implementation Plan | 55 | 23% |
| Intro, Exec, Conclusion, Report Writing | 28 | 12% |
| Buffer | 4 | 2% |
| Total | 240 | 100% |
It’s going to take some practice and discipline to conform to the above time allocations. I am interested in knowing what others are planning on doing. Feel free to leave me your comments.
Is anyone planning on getting extra help for the case exam?
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Hi Darran,
Interesting website, very usefull especially for the entrance exam post.
I myself, am preparing for the Case Exam in May 2010 and have a similar plan as to your’s above, with a couple exceptions:
Situational Analysis – 78 mins (8 mins to read first few paragraphs of addt’l info, and 70 mins to complete situational up to the major issue – this includes reading the additional in detail)
Analysis of Alternatives -75 mins
-Usually takes me a lot of time on the quantitative portion
Recommendations -40 mins
-I’m confused how you can put a recommendation together in 10 mins? Are you doing a recommendation at the end of each alternative?
Implementation Plan – 35 mins
-I find I usually can put a Gantt Chart together in excel, and a couple paragraphs within the word document in this amount of time.
Finishing – 12 mins
-includes introduction (2 mins), executive summary (5 mins – cut and paste a good portion from the document), conclusion (5 mins), and spellcheck!
Anyways good luck on the exam and year 2.
Hi Dave,
I tend to spend a lot of time on the quantitative section of the issue analysis as well and could use some extra time in that area. 70 – 75 minutes will be ideal.
Do you need 78 minutes for situation analysis? That seems a little excessive for me. I figured I can do it in a about 60 minutes.
Now for the best part, recommendation, I am confused as well as to why you need 40 minutes to do it. I am not going to have a recommendation beneath each alternative. It’s going to be on it own right after the analysis of alternatives. The recommendation should be simple – list the alternatives that you recommend, a few link backs to stakeholder preferences and SWOT. I am going to include available financing. I figured this should not take longer than 10 minutes. Please tell me what you intend to include here.
Good luck to you too!
Darran
Hi Darren,
I came across your blog via the your posting on RFD…
I do not have a plan like you and Dave have laid out; however I would typically spend less time on the implemenation plan (maybe 30 mins) and more time on the recommendations (30~40mins).
Have you started studying for the exam yet? and how much time do you plan on putting into it?
My study plan is to review some old cases and brush up on some technical things (ie. NPV, ratios etc.) since I havent done any accounting work over the past couple of months. The weekend prior to the Case I plan to do an old exam under exam conditions on the Saturday, and then do some very light studying on the Sunday if I feel good; or possibly another Case if I felt as though I did bad on the first one (hard to judge, all I can really base this on is whether I completed within the 4 hours). ideally I would like to take it easy on the Sunday, Monday and Tuesday prior the exam on Wednesday.
I don’t think this can be studied for like a typical exam; so my whole game plan revolves around reviewing and doing a rewrite to build my confidence and then relaxing the last few days so that I go in there with a clear head, stress-free.
Hi Steve,
Yes, I have started “studying” for the case exam. My study habits has been all over the place and is not what it was compared to the entrance exam. I am however focusing on time management because you have to complete all parts of the case in order to pass.
Once again, both you guys are planning to spend more than 30 minutes on the recommendation section. Do you know something that I don’t? what are you planning on putting in there thats going to take you 30 minutes?
I don’t mean to shout, just want to highlight my question.
I would agree on taking it easy the weekend prior to the exam. I don’t think I can learn anything new during those 2 days that I can’t do before. I would brush up on my game plan on tacking on the case exam within the allotted 4 hours.
Good luck on the CE. Where are you writing? I am at the Toronto Congree Centre.
Hi Darran,
I prefer to list my recommendations w/ reasoning about why I choose it (ie. supports mission statement, positive NPV, meets constraints, etc…), and my implementation plan is simply a table showing the action req, who is to perform that action, when its to be done, and the cost required.
I’m assuming you have this reasoning somewhere in your reports (possibly the implemenation plan?)…So if you haven’t rec’d negative comments about it being in the wrong place, or that its been omitted completed (in which case Im sure you’d be getting all BE’s) I wouldn’t be worried about. Whatever your style is, its obviously working for you, so I wouldn’t sweat it.
ps. I’ll also be at the Toronto Congress Center
Hi again Steve,
Yes, I am planning on doing my recommendation section the same way as you. I think I might be providing only a few links back to the swot/mission etc. I am however focusing in great detail on the implementation plan(IP). My IP has an action plan like yours also I will discuss the minor operational issues.
I have received all MEs so far, some ME- but no BE yet for which I’m glad for. I must be doing something right.
My only fear lies in the quantitative section. I am comfortable with the numbers and I can do NPVs and other quants, but that is where I tend to spend the most of my time on.
Hi Darran,
Just to review my strategy which has now changed slightly:
I view the case exam in three parts:
80 mins for:
Brief view of additional info to see what’s changed,
Set up of the structure – all the headings onto paper,
Detailed review of additional info, and as I read I put those points into my situational analysis right away. I also input the alternatives and the major issue in this 80 mins. The reason I want 80 mins is because this is the foundation of the report what I view as 33% of the value. If this is done poorly then the rest of the document may not hold water! Also, this includes the current financial assessment – which I tend to include 5-6 ratios over 3 years and some other analysis of quantitative data put in the additional info.
2nd 80 mins:
Analysis of alternatives – first quantitatively then qualitatively, I also write a brief conclusion after each one, making sure that each alternative hits the 4 key points – Is it profitable? Does it return the required rate? Is there financing available? Does it meet the constraints? During this time I also consider the impact of one alternative on the other which starts to paint a picture in my mind of what the ideal recommendation should be.
Last 80 mins:
Recommendations – I use a decision matrix to help validate my answer, I tend to need 25-40 mins bc I like to provide my linkages here (as well as in the qualitative above) as well as I hit on all the major operational issues in this section.
Implementation plan – takes me about 10-15 mins because I’ve already talked about the operational issues above and I use a Gantt Chart to organize the above into an action plan.
Conclusion, Intro, Exec Summ and revision of mission (if needed) takes 15-20 mins – including spell check.
Sorry this is long, but I think overall we all have a similar approach, the timing is key so that you don’t go overboard on the quantitative section and leave no time at the end for the operational issues and action plan.
Hope this helps,
Dave
So is the backgrounder up yet? It’s posted on the “CMA Case Examination” section of the SLP site right?
Hi Jeff,
You should have received an email by now from CMA with instructions on how to download the backgrounder. They posted the case at exactly 9am. If you didn’t receve your email please contact Cinzia Brandolino .
all the best!
After reading through the case, what are some of the thoughts around the potential main issues for SVC:
Decrease in memberships
Decrease in fuel revenue
Issue around Rola
Does anyone else have any other thoughts?
All the best for the exam.
I think it’s important to remember that fuel prices are market driven. Not only did the quantity of fuel sold in litres decrease, but the price per litre was also in decline (between 2008 and 2009).
If a drop in profits stems from decreased fuel prices it’s not nessesarily a bad thing because that means cheaper fuel prices for members.
True for the fuel prices. But significant factor of decrease in fuel revenue is due to the huge decrease in volume. the reason is not provided in BG.
Another concern, i thought was the Threat point “coops are experiecning capitalization issues – this has caused consolidation and demutualization of coops in agricultural industries”.
Not sure what kind of quants will be required to cover the demutualization component. This is the only point that has no more details in BG.
Any ideas?