If you are studying for the R03 exam you will know that the study text contains a lot of information and you may be wondering how you are going to manage to learn and remember all of it.

Our Top Tips for Success aim to help you get the best out of your studying time and help improve your chances of passing first time.

So, let’s start dispelling some of the myths.

1. The R03 exam is relatively easy because it is only worth 10 credits
This is NOT true. It is probably one of the hardest exams, because it covers all the taxes and their applications to different scenarios and situations.

2. There are only 50 questions so I will have plenty of time
You only have 1 hour to answer 39 multiple choice questions  and 11 multi response questions. That works out at 1 question every 72 seconds.

3. The questions all require a calculation
Only 10% to 20% of the questions involve calculations, with the rest covering your ability to understand specific facts and apply the concepts to a variety of customer scenarios and situations.

During the R03 exam you will be under an element of time-pressure, so let’s look at some tips to help you make the most of your available study time to and move closer to success at your first attempt.

The CII recommends a minimum of 60 hours of study to prepare for the R03 exam. You may find you need slightly less if you have prior knowledge of  taxation from previous exams, but you are still going to have to put in a significant amount of studying.

Several things are key to successful studying: Firstly it is important to have a plan - and stick to it. It is also important to introduce some variety and mix up your study techniques to help to keep it fresh and interesting. Study in short bursts, with breaks, and acknowledge your progress with rewards to keep you motivated.

Our “Learning to Learn” package -  provided by Wizard Learning free of charge with every purchase – contains valuable advice and useful strategies to help you discover how you learn best, and to maximise the effectiveness of your study time. 

It is important, however, to bear in mind, that it is impossible to test the full R03 syllabus in 1 hour. As well as learning the facts in each chapter, you need to understand the practical application of the rules, exemptions and reliefs and in various situations and scenarios.

• Use practice questions at the start, during, and at the end of each study period – this will help to identify areas of weakness to focus on going forward
• Become familiar with the information in the Tax Tables, but you do not need to memorise this information as you will be provided with it on the day
• Become familiar with the format and types of questions asked in the exam – complete the CII Exam Guide/Mock exams under exam conditions
• Keep practising with as many questions as you can. This not only helps to cement information in your memory, but also increases your confidence in how to tackle them effectively
• Read the question in full and very carefully. It will provide you with the information you need to choose your answer e.g. calculate Jim’s taxable income or calculate Sue’s chargeable gain. This is different from calculating the amount of tax they would actually pay
• Become familiar with the calculator you intend to use in the exam and check that it meets the requirements of the CII

• Waste time learning lengthy calculations – there won’t be anything too complex in the exam as there is not enough time. If a calculation is involved, it will be relatively straightforward. For the more complex areas of taxation, make sure you have a good understanding of the overall process/concept so that you can answer ‘comprehension’ type questions on these topics
• Leave any question unanswered. Guess if you have to. In every multiple choice question there are normally 2 answers which you should be able to eliminate as wrong, leaving you with a 50:50 chance of being right and achieving the mark
• Spend more than 1 minute on each question. This will give you time to go back to any questions you were unsure of. If you can’t decide on the correct answer after 1 minute move on, you can always go back and make an educated guess

The assessment questions in the Wizard Learning “R03 Gap Analysis and Assessment Tool” provides a bank of 300 practice questions, with the similar mix and weightings for each Learning Outcome as in the  R03 exam.

You can choose either a 25 question test (30 mins) or a 50 question test (60 mins)in either ‘revision style’ (where you will see the correct answer after each question is completed), or ‘exam style’ (where you will see your results at the end). The questions are selected at random for each test and will not repeat until all questions have been viewed.

Your end of test results shows not only your total marks but also the marks scored against each Learning Outcome. All incorrectly answered questions show the correct answer and explanation and a reference to the location in our online course.

• The full directory of Wizard Learning training materials can be found here including our R03 online course and R03 gap assessment package.