To pass my examination for me the first thing that you need is some sample questions that are based on the topics in this curriculum. Then you can practice the exam by taking mock tests and answering them as accurately as possible. Practice test will help you understand the material better. There are a number of websites that offer this type of mock exam and they can help you prepare for the pricing exam properly.
Once you have prepared properly for your examination then you can start studying for it. You need to learn all the topics that you learnt from your textbook. Make a list of the topics that you need to study for your examination. These topics are very important and if you fail to understand them properly you may fail your pricing.
The second step is to learn about price allocation. This includes pricing of labor, material and other resources. You can allocate prices according to the costs of production and these prices will be used in production decisions. You must be able to determine what costs are high, medium and low in terms of production and price your products accordingly. Pricing must be based on factors such as quality, usefulness and competitive features.
The third step is to learn about price classifiers. Some exams are based on statistical methods, which require the use of classification systems. The classification systems determine the prices on commodities in terms of quantity and quality. You should know the definition of each classifier, its advantages and disadvantages and how it will be used in your pricing decisions. You can also select a particular classifier and create a specification for your pricing. This will make your exam easier.
The fourth step is to learn about price allocation. In commodity pricing allocation is about choosing the most profitable commodity. You can allocate commodities according to their quality. According to this method you can allocate high or low quality commodities at the top or bottom of your pricing hierarchy. Usually high quality commodities sell faster and hence they get high prices. Low quality commodities usually take longer to sell and hence they get lower prices.
The fifth step is to choose commodity pricing tools that help in the allocation of prices. You can allocate prices through structural model analysis, statistical analysis, or random sampling. These tools are usually based on pricing theory.
The sixth step is to develop a trading plan based on your specifications and knowledge. You can take my exams for free online. You should however learn about the different strategies used by experienced traders to come up with the best trading plan. Trading plans usually include support and resistance levels, breakouts, trend lines, moving averages and oscillators.
