Product Description

Product Details

• Amazon Sales Rank: #90951 in Books
• Published on: 2007-09-21
• Number of items: 1
• Binding: Paperback
• 224 pages

Excerpt. © Reprinted by permission. All rights reserved.
Introduction

PASSING THE CLEP PRINCIPLES OF

MICROECONOMICS EXAM



ABOUT THIS BOOK AND TESTware®

This book provides you with complete preparation for the CLEP Principles of Microeconomics exam. Inside you will find a targeted review of the subject matter, as well as tips and strategies for test taking. We also give you two practice tests, featuring content and formatting based on the official CLEP Principles of Microeconomics exam. Our practice tests contain every type of question that you can expect to encounter on the actual exam. Following each practice test you will find an answer key with detailed explanations designed to help you more completely understand the test material.



The practice exams in this book and software package are included in two formats: in printed format in this book, and in TESTware® format on the enclosed CD for Windows-based computers. We strongly recommend that you begin your preparation with the TESTware® practice exams. The software provides the added benefits of instant scoring and enforced time conditions.



ABOUT THE EXAM

Who takes CLEP exams and what are they used for?

CLEP (College-Level Examination Program) examinations are typically taken by people who have acquired knowledge outside the classroom and wish to bypass certain college courses and earn college credit. The CLEP is designed to reward students for learning—no matter where or how that knowledge was acquired. The CLEP is the most widely accepted credit-by-examination program in the country, with more than 2,900 colleges and universities granting credit for satisfactory scores on CLEP exams.



Although most CLEP examinees are adults returning to college, many graduating high school seniors, enrolled college students, military personnel, and international students also take the exams to earn college credit or to demonstrate their ability to perform at the college level. There are no prerequisites, such as age or educational status, for taking CLEP examinations. However, because policies on granting credits vary among colleges, you should contact the particular institution from which you wish to receive CLEP credit.



There are two categories of CLEP examinations:

1. CLEP General Examinations, which are five separate tests that cover material usually taken as requirements during the first two years of college. CLEP General Examinations are available for English Composition (with or without essay), Humanities, Mathematics, Natural Sciences, and Social Sciences and History.

2. CLEP Subject Examinations include material usually covered in an undergraduate course with a similar title. For a complete list of the subject examinations offered, visit the College Board website.



Who administers the exam?

The CLEP tests are developed by the College Board, administered by

Educational Testing Service (ETS), and involve the assistance of educators throughout the United States. The test development process is designed and implemented to ensure that the content and difficulty level of the test are appropriate.



When and where is the exam given?

CLEP exams are administered each month throughout the year at more than 1,300 test centers in the United States and can be arranged for candidates abroad on request. To find the test center nearest you and to register for the exam, you should obtain a copy of the free booklets CLEP Colleges and CLEP Information for Candidates and Registration Form. They are available at most colleges where CLEP credit is granted, or by contacting:

CLEP Services

P.O. Box 6600

Princeton, NJ 08541-6600

Phone: (800) 257-9558 (8 a.m. to 6 p.m. ET)

Fax: (609) 771-7088

Website: www.collegeboard.com/clep



CLEP Options for Military Personnel and Veterans

CLEP exams are available free of charge to eligible military personnel and eligible civilian employees. All the CLEP exams are available at test centers on college campuses and military bases. In addition, the College Board has developed a paper-based version of 14 high-volume/high-pass rate CLEP tests for DANTES Test Centers. Contact the Educational Services Officer or Navy College Education Specialist for more information.



Visit the College Board website for details about CLEP opportunities for military personnel. Eligible U.S. veterans can claim reimbursement for CLEP exams and administration fees pursuant to provisions of the Veterans Benefits Improvement

Act of 2004. For details on eligibility and submitting a claim for reimbursement,

visit the U.S. Department of Veterans Affairs website at www.

gibill.va.gov/pamphlets/testing.htm.



SSD Accommodations for Students with Disabilities

Many students qualify for extra time to take the CLEP Principles of Microeconomics exam, but you must make these arrangements in advance. For information, contact:

College Board Services for Students with Disabilities

P.O. Box 6226

Princeton, NJ 08541-6226

Phone: (609) 771-7137 (Monday through Friday, 8 a.m. to 6 p.m. ET)

TTY: (609) 882-4118

Fax: (609) 771-7944

E-mail: ssd@info.collegeboard.org



Our TESTware® can be adapted to accommodate your time extension. This allows you to practice under the same extended-time accommodations that you will receive on the actual test day. To customize your TESTware® to suit the most common extensions, visit our website at www.rea.com/ssd.



HOW TO USE THIS BOOK

What do I study first?

Read over the course review and the suggestions for test-taking, take the first practice test to determine your area(s) of weakness, and then go CLEP Microeconomics back and focus your study on those specific problems. Studying the reviews thoroughly will reinforce the basic skills you will need to do well on the exam. Make sure to take the practice tests to become familiar with the format and procedures involved with taking the actual exam.



To best utilize your study time, follow our Independent Study Schedule, which you’ll find in the front of this book. The schedule is based on a four-week program, but can be condensed to two weeks if necessary by collapsing each two-week period into one.



When should I start studying?

It is never too early to start studying for the CLEP Principles of Microeconomics exam. The earlier you begin, the more time you will have to sharpen your skills. Do not procrastinate! Cramming is not an effective way to study, since it does not allow you the time needed to learn the test material.



The sooner you learn the format of the exam, the more time you will have to familiarize yourself with it.



FORMAT AND CONTENT OF THE EXAM

The CLEP Principles of Microeconomics exam covers the material one would find in a college-level introductory microeconomics class. The exam requires the test-taker to analyze and evaluate economic decisions, demonstrate an understanding of how free markets work, and understand how individual consumers and firms make economic decisions.



The exam consists of 80 multiple-choice questions, each with five possible answer choices, to be answered in 90 minutes. The approximate breakdown of topics is as follows:

8–12% Basic economic concepts

60–70% The nature and function of the product market

10–15% Factor Market

4–6% Market failures and the role of government



ABOUT OUR COURSE REVIEW

The review in this book provides you with a complete background of all the important basic economic concepts and microeconomic principles and theories relevant to the exam. It will help reinforce the facts you have already learned while better shaping your understanding of the discipline as a whole. By using the review in conjunction with the practice tests, you should be well prepared to take the CLEP Principles of Microeconomics exam.



SCORING YOUR PRACTICE TESTS

How do I score my practice tests?

The CLEP Principles of Microeconomics exam is scored on a scale of 20 to 80. To score your practice tests, count up the number of correct answers. This is your total raw score. Convert your raw score to a scaled score using the conversion table in the book



When will I receive my score report?

The test administrator will print out a full Candidate Score Report for you immediately upon your completion of the exam (except for CLEP English Composition with Essay). Your scores are reported only to you, unless you ask to have them sent elsewhere. If you want your scores reported to a college or other institution, you must say so when you take the examination. Since your scores are kept on file for 20 years, you can also request transcripts from Educational Testing Service at a later date.



STUDYING FOR THE CLEP

It is very important for you to choose the time and place for studying that works best for you. Some students may set aside a certain number of hours every morning, while others may choose to study at night before going to sleep. Other students may study during the day, while waiting on a line, or even while eating lunch. Only you can determine when and where your study time will be most effective. But be consistent and use your time

wisely. Work out a study routine and stick to it!



When you take the practice tests, try to make your testing conditions as much like the actual test as possible. Turn your television and radio o...

Customer Reviews

Helpful for in-depth study and review in specific areas...
As a previous reviewer noted, this book is not as clear as it could be. Compared to the five other REA books I've successfully used in the past, this didn't match my expectations. I found at least two errors (one in a formula, another in the practice tests), and in some areas, the author did not explain it very well, while in others, he covered it more in-depth than necessary.

I used this book in conjunction with Princeton Review's "Cracking the Ap Economics Macro and Micro Exams, 2008 Edition", by David Anderson, Ph.D. (Cracking the AP Economics Macro & Micro Exams, 2008 Edition (College Test Prep)) I highly recommend that book - it also comes with two practice tests, one for macro and one for micro. However, I still recommend buying this REA guide, because it does prove helpful, not only in content, but also in the fact that included is two practice tests to gauge your current level of understanding.

Another resource I would definitely recommend is InstantCert.com. For $20/month (you can cancel at any time), you have access to many flashcards (over 200) for many CLEP, DANTES, TECEP and ECE exams. The flashcards are fill in the blank, and you can start out not knowing anything, and the important part is to read the explanation for each question, whether you get it right or wrong. I am not affiliated with IC in any way, except for the fact that I have paid for their resources. But I'm going off on a rabbit trail...

The last resource I would recommend is the Official CLEP Study Guide CLEP Official Study Guide 2009 (Clep Official Study Guide). For each exam, there is a 60-question practice test, which is indispensable, and inexpensive.

In conclusion, I studied the REA and Princeton Review books, went through the 200+ InstantCert flashcards three times, and took all four practice tests (REA: 70, 65; PR: 82%; CLEP Study Guide: 84%), and passed the exam today with a 77.

I passed, but review is rough.
I normally love REA review books but this author is really hard to comprehend. I used other notes available on the internet for free to help study for this CLEP. I ended up passing but felt like studying for this test was just as much work as the class, and I believe it is the way this author teaches/writes.

It will help you pass, but don't plan on cramming for this one w/ this book.