by Charlotte Bower
17 Aug 2010
Candidates need to ensure that they clearly show all of their workings in calculation questions.
It is very easy to make calculation errors under exam pressure or to make a mistake in more involved workings such as those required for the course fees in Question 1 Part (a). If a candidate's final figure is incorrect, method marks can only be awarded if clear workings are shown. Candidates must also remember that if incorrect figures are consistently used in further calculations they will only be penalised once for the initial error, with follow on method marks being awarded in subsequent calculations as long as workings can be followed.
Reading the requirement
Candidates must read the requirement carefully and answer the question set. Question 2 Part (b) did not ask for the factors to be considered when deciding between a loan and an overdraft but for the factors a bank will consider when deciding whether to grant a loan or overdraft.
Candidates should also pay careful attention to the verb used in written questions. If a question asks for a description, then one or two-word answers will not gain full marks. This was especially a problem in Question 1 Part (b) and Question 2 Part (b).
Specific areas where a lack of knowledge was shown
The calculations for accounting rate of return and payback period, and the concepts needed to answer Question 4 Part (c), need further study by many candidates.