CSC® Practice Question – Part 1

If you’re currently studying for the CSC® or plan to start soon, this video is a great introduction to the benefit of incorporating practice into your study schedule.

Hi, everyone. It looks like brighter days are ahead. Now you may have heard that many golf courses are open across the country, and I’m sure that some of you have been out on the links by now, so let’s talk some golf. In this video, I’m going to demonstrate why you really need to practice, and students, this applies to studying as well. Now I invited my dad, Stu to work today. We’ve been living together during the pandemic, so it wasn’t much of a commute.

Dad?

Yes?

How good of of a golfer am I?

Because you’re so cheap, you’re absolute crap. If they changed a golf ball to a soccer ball, you still couldn’t hit it with a club.

Thanks a lot, Dad!

Well, guess what? Throughout the lockdown, I watched a bunch of YouTube videos, I read Golfer’s Digest magazines from cover to cover, and pretty much anything else could get my hands on that was golf-related. Now, how much do you think that helped when it came time to step up to the tee for the first time this season? Well, I’d show you a video, I mean, my dad tried to record it until he heard, “Fore,” and fell to his knees in fear for his life. Now I owe my dad a new iPhone.

But jokes aside, I’m sure you probably agree that reading about something and practicing something are two very different things. Just like with golf, when it comes to preparing for a financial services exam, practice makes perfect. But to be the candid, you probably won’t get a perfect score on either an exam, or on a round of golf. But practice sure as heck is critical to your success either way.

So take a look at this tricky, or as I like to say, a thought-provoking question, taken from the SeeWhy Learning study tools.

ABC Corporation just received its statement of financial position. It records retained earnings as $1 million. Now, assuming that nothing has changed since this statement was prepared, to what extent is ABC Corporation able to pay a cash dividend today without liquidating assets or taking a loan? A, $1 million, but it would exhaust its cash-on-hand; B, $1 million multiplied by ABC’s dividend payout ratio; C, up to $1 million as declared by its board of directors; or D, ABC Corporation may not be able to pay a cash dividend. What do you think the answer is?

Well, check out Part 2 when I discuss the answer to this question, along with a mini-lesson on the statement of changes of financial position, which is also known as a balance sheet. I encourage all of you to go to SeeWhyLearning.com to learn all about all of our study programs. The SeeWhy Learning tools are jam-packed with fun little stories, analogies, memory aids, or just different ways of explaining things. And as you can see in this blog and video, our trainers will go above and beyond, even sometimes to the point of embarrassing ourselves, to help earn you a mark. So thanks for stopping by the Coach’s Hangout, keep up the good work, and good luck on your exams. We’ll see you in the next blog and video post.