FE Ethics and Economics Session 2022

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@rykim514 2 жыл бұрын

Thank you Mark! I just passed my FE test after a 13 year break since graduating. It was a long 6 months of re-learning everything and studying. Your FE review lessons helped immensely in understanding the concepts. I went through every one of them and re-studied them after watching them through, trying the problems myself before you explained them. Thank you so much. Onward and Upward to the PE.

@MarkMattsonPE 2 жыл бұрын

Great job! Congratulations! That's a long break, but you did it with perseverance. I found the PE test easier than the FE, so I wish you the best on that one too!

@Halflife5555 2 жыл бұрын

Congratulations! if I may ask, what did you do to relearn everything aside from watching any playlists? There's so much to review and I nearly forgot everything :o That's what i get for procrastinating on this exam :(

@rykim514 2 жыл бұрын

@@Halflife5555 I started out with the basics to relearn everything first. Totally forgot all the formulas for all the subjects so just started there first. After going though and learning the concepts of all the topics, stared doing as many problems or watching as many problems as I could. I bought the FE practice exam and downloaded the FE handbook (don’t buy since it’s an online test, you need to get use to going though a pdf instead of a physical book) and did the test to see where my strengths and weakness were. Then did more problems in my weak spots.

@felrodas 2 жыл бұрын

Im about to jump into the same kinda adventure myself… just found this channel and I hope it helps 😁

@Bmore.careful 9 ай бұрын

I'm taking my exam soon after 13 y break too and ur comment gives me hope 🤞

@abdulrahmanozturk1859 2 жыл бұрын

Hey Mark! I took my FE Exam this Saturday and I passed my exam! Thanks for the great material! the Statics portion where you found the centroid of the different shapes was a life savor! For the people who taking/retaking the exam, keep your heads up you got this!!!

@austinguse9759 2 жыл бұрын

I learned this morning that I passed the FE! Thank you for your positive attitude towards preparing for this test. Your video series was so helpful. Onward and upward!

@diegosequera5061 Жыл бұрын

Hey Mark!! Thank you for all your help. I took the FE exam on May 1st and today I just found out I passed my exam. I'm from Colombia and get translated to US to work. I graduated 10 years ago and all this videos helped me a lot understanding and re-learning all the concepts. Time to tackle the PE!.

@fionaclayton3622 Ай бұрын

I just found out I passed the FE!! I watched all of your videos and I'm sure I can attribute a lot of my success to the knowledge you have passed on. THANK YOU, THANK YOU, THANK YOU!!

@DrFill-om3ws 2 жыл бұрын

Hi mark, I took the FE last week for the first time and found out today that I passed. I used your videos as the starting point for studying for all the subjects and branched off after that. I want to say thank you for helping everyone out, I am 6 years out since graduating and this was a great refresher! Dr Fill out!

@ethanfarris6754 5 ай бұрын

Always had a hard time learning and the professor makes or breaks it. This guy is amazing at what he does, humorous, not monotoned, explains everything in detail and makes you laugh at the end of his sessions with a great joke. Thanks for everything Mark, never change! Hoping to pass the FE in August

@abdelrahmanashraf8654 Жыл бұрын

ENG. MARK, all appreciate for your great effort to help those who want to pass an important exam in the professional career of any engineer, so thank you very much on behalf of everyone who benefited from you, and may God bless you and reward you all well. Thank you🤝

@BeanoSaurusHD 11 ай бұрын

Thank you Mark!! I just found out I passed a few minutes ago and wanted to share with you as soon as I found out, thank you so much for your help, lessons, knowledge, and jokes!!!!

@BruceWayne-md2kv Жыл бұрын

Thank You Mark! Studied and reviewed using your videos as my primary resource and I passed. I really appreciate your videos.

@harshchaurasia4479 Жыл бұрын

Hi Mark, I passed my FE exam. A big thanks to you and your materials which helped me a lot. ❤

@trilbymatthews4430 8 ай бұрын

Thank you so much Mark! I have watched all of your videos in prepping for my FE!! You came highly recommended from many of my classmates! The videos and worksheets were both so helpful. Loved the jokes as well! Thank you again! Onward and Upward!!!!!

@willslack68 Жыл бұрын

Thanks Mark i just passed my FE a week ago and wouldn't have been able to do it with out your videos!

@zainabsyed5736 2 жыл бұрын

Hi Mr. Mattson, Thank you so much for these videos. I used them to study for the FE, took it last Friday, and passed on my first try! Your videos are so good for understanding both calculations and concepts, which helped a lot with the conceptual questions on the exam. Thank you for sharing your knowledge with young engineers! ☺

@calvinma9493 Жыл бұрын

Gregory Michaelson is the best I've seen, but getting back to study for my FE, I must say the past videos I've watched of Mark, great concise straight to the point and very clear

@robertrice3930 7 ай бұрын

Thank you for these courses Mark! I just watched the whole playlist and it was all very insightful. I take my test in about a month now and plan to do practice problems now until I take it. Best of luck to everyone else on the grind.

@drewgilmour2562 Жыл бұрын

Thank you Mark for all your help! After waiting 2 years after graduating, I was really worried that I would not be able to pass the FE since I had forgotten so much but your series helped prepare me so well that I was able to pass!

@nic_20043 8 ай бұрын

I thought you might be a fellow climber hearing you say "send" and "crush" in other videos, but now that I heard you say "crux" I'm almost positive you are haha. Thanks for your help Mark! We all really appreciate you for the time you have put into this free course and how much it has helped all of us. The students you teach are lucky to have you!

@MarkMattsonPE 7 ай бұрын

One enjoyable memory from college was walking ten minutes to the climbing wall and spending an hour bouldering at the climbing wall...

@nic_20043 7 ай бұрын

@@MarkMattsonPE Passed my FE on the first try earlier this month, your videos helped me a lot. Thanks again!!

@aleca6886 6 ай бұрын

Hey Mark! Thank you for this playlist of videos. I just found out I passed the FE today on my first attempt! Your videos were very helpful, especially this one on economics since I did not have an economics course at the school I attended. Thank you for helping me prepare!

@jeremytorres8505 10 ай бұрын

Hi Professor Mattson! I am getting ready for my PE exam and your videos have been very helpful. I took your estimating class in Spring '17 and its great to see that you are providing this for your students and making these videos available to everyone. Keep up the good work!

@MarkMattsonPE 10 ай бұрын

Jeremy! I totally remember you taking that class and jumping into the construction sector after graduation. That's awesome to hear that you're on your way to becoming a PE. You will do well! All the best. Please keep in touch!

@ritavazquez4432 2 жыл бұрын

Hi Mark. I love your way of teaching Thank you. I learned from you in these sections more than I did when I was in ethic class back in college. Thanks to take the real time to teach us how to pass this stressful exam and make it simple. Congratulation you have a good soul... many blessing your way... Shalom always 🙏😁

@AndreaHernandez-wc3hk 5 ай бұрын

Hi Mark, I just want to say thank you so much for sharing these videos. The tips/advice you gave throughout them helped me pass my exam!

@amberhall1119 2 жыл бұрын

I really wish the ethics portion of the exam was tested as a like a 10 minute discussion to cover these questions.

@LetsGoBoyce 8 ай бұрын

Robin Banks had me dead. Thanks Mark this video has been incredibly helpful. If anyone is sees this comment and is wondering if this video will be worth your time in studying, absolutely yes. Great questions and great teaching.

@MarkMattsonPE 7 ай бұрын

Me too :)

@hjjjhh5774 2 жыл бұрын

Thank you Mark, your videos are super helpful!

@87455451jose Жыл бұрын

Hi Professor Mattson, For economics, question 2, why didn't you take into account inflation when solving for A? I though we would have to use d = i + f + (i x f) = 12.2%, thanks in advance!

@danielperezrigual136 Жыл бұрын

Have the same question, when I do it that way, the future value is way higher and it makes more sense to me

@nancylu7644 Жыл бұрын

Can you show me how to solve it on that way?

@tcurson1 Жыл бұрын

Hey Mark, just took the FE after watching the entire series. Your review was immensely helpful for most sections. I’m wondering if you’re at all considering a PE Breadth portion review since it would benefit all your students.

@josephdigiovanni5211 Жыл бұрын

For Question 3 Economics: since the problem states that the salvage value is = 12,000 after 10 years, why are we using an interest rate table to find a value?

@SylvesterHandymanServices Ай бұрын

Is there a reason we did not use the $2500 spent on maintenance in year 2 in question 3 of the engineering economics? Also concerning the years determination why did we not subtract a year for the time periods when looking at maintenance cost from the ten year time frame. ex. $2000 in year 1, so the (P/A, 8%, , 9)? thank you for sharing and for your response to these questions

@AhmedAli-b3y6o 9 ай бұрын

Thank you Mark. I owe you too much . Planning to take the exam in 2 months. Please send me any other useful free resources.

@shenqu2111 2 жыл бұрын

Hi Mark. Thank you for your teaching. Q9: Should the most economical option consider (F|P, 6%, 10) and (F|A, 6%, 10)? Though the correct answer is the same in this question.

@nerd90810 2 жыл бұрын

No it is much easier to complete his way since we start on present worth (50k for A for example), then the only conversion to be made is to convert Annual repair costs to Present repair costs (P/A, Present, P, is leftover while the Annuals, A, are cancelled) hence why he only did it for the 2nd term. Hope this helps!

@Romina-Lifestyle Жыл бұрын

hi Mark, on question 6 (eco) why didnt we add depreciation of year 1 , 2 and 3 times cost to find Dj but we used only depreciation value of year 3 times cost. Thanks

@j-paul4327 5 ай бұрын

Thank you sir Mark. If it's ok to ask, what equipment and applications are you using in writing and recording this type of videos?

@rmtrue 9 ай бұрын

For some reason, on #7, I had B/C the following: B = $250k(F/A) / C = $2M(F/P)+$50k(F/A) = $18,277,500 / $17,355,500 = 1.053. Is this a lucky accident or did I just discover a silly-other way of computing this B/C analysis, because the ratios are nearly exact?

@AbdirahmanOsman-v4d 2 ай бұрын

On Question 7, I understand the calculations. However logically speaking, I am confused why the value of we need to multiply is the factor 10.67. My logic is this: we are paying $50k in maintenance every year. At the very *least*, we need to be $50k every year for 25 years. However the math tells us we are paying only 10.67 times of that $50k amount for the 25 year duration. Logically speaking wouldn't we pay for the $50k every year for 25 years PLUS the interest rate?

@emilezankoul 11 ай бұрын

For question 6, isn't it conceptually wrong to have a salvage value? The MACRS assumes that the equipment will be fully depreciated at the end of its useful life. Since a salvage value is provided, it would be more logical to apply the MACRS factor to $105,000 (cost minus salvage value). The formula in the book excludes salvage value since it assumes it to be zero.

@kartikjoshi147 2 жыл бұрын

Q.7 Why did we convert everything to the present value and then found the B/C ratio? why not the future value?

@noemidelapuente5280 6 ай бұрын

I did the problem with future value and got the same answer. I also want to know rationale for solving with present value not future value.

@danielortiz2349 Жыл бұрын

Can someone explain to me why in example 7 we convert everything to present value and not future value.

@kylesongpanya Жыл бұрын

For question 8 (economics) how come the $15,000 per year cost of operation is multiplied by 5 years for the whole life of the parts?

@oreoandbeesly 5 ай бұрын

Hello! I really appreciate these videos and I will have to update this comment after I take the FE in one week! I would like to note that, as a woman watching these videos, I'm a little disheartened to see that every single engineer referenced is male. Maybe this can be updated on the worksheets? EDIT: I passed the FE on my first try! Thank you so much for providing this resource, it was so helpful!

@MarkMattsonPE 4 ай бұрын

Thanks for the comment!! Some of the best engineers that I work with are women. I will update future material with that in mind. Thanks!

@abbycowan20 2 жыл бұрын

Hi Mark, thank you for your videos, I take the FE next week and needed to recap a lot of content! On Q7 (econ), why do we find the present value, not the future value of the project?

@nancylu7644 Жыл бұрын

The benefit-cost ratio indicates the relationship between the cost and benefit of project or investment for analysis as it is shown by the present value of benefit expected divided by present value of cost which helps to determine the viability and value that can be derived from investment or project. Do we always find the present value when they asking for the cost ratio ?

@anengineerintrouble3748 2 жыл бұрын

hey Mark, it is great as usual. Please for Q:3, don`t you think that the Boot is a personal piece that can`t be used and returned back to the contractor?

@danielj.berrios960 2 жыл бұрын

Great review !!! Thanks Matt

@TheAntonio102293 10 ай бұрын

Hello on question #3, can someone explain why we used ten years for calculating the gradient value instead of 9 years? If you used 9 years you get closer to B.

@conectadosalapesca Ай бұрын

I have the same question, because the gradient start after the 1st year. I hope someone can please help us with a answer! Thanks!

@ahmadhashmi1397 2 жыл бұрын

54:41 econ starts

@lightningtech8025 5 ай бұрын

I dont understand question 3. Why is there an interest rate on the repair costs? what does that mean? is the company making 8 percent of repair costs back?

@anengineerintrouble3748 2 жыл бұрын

Please Mark, i have a doubt regarding Q:4. I wonder if it is legal and ethical to Work in firm Y and do another job for Firm X ? for my contract with the recent employer I have a condition to work solely for him and I am not allowed to do any other job for another employer. appreciate your elaboration on this point.

@MarkMattsonPE 2 жыл бұрын

In general, doing work for a second employer (especially a competing firm) is a no-no. However, in some cases it makes sense and is ethical based on your professional obligation. Your professional obligation supersedes your obligation to your employer. These situations can be very difficult to navigate. Make sure there is have full disclosure between all parties and come up with a mutual arrangement with all parties involved. If you're working with people that are above board and professional, you should be able to come to an agreement that will ultimately protect the health, safety and welfare of the public. Whether you have a non-compete agreement or not, you should probably get the arrangement in writing. I'm not a lawyer, so this isn't legal advice. If you have further questions, you should check with a lawyer or a professional organization like NSPE.

@jamescondon7116 2 жыл бұрын

Hi Mark, should the G value for question 3 Econ be 9 years since it starts after year 1?

@MarkMattsonPE 2 жыл бұрын

A conventional gradient starts between years 1 and 2, so the period should still be 10.

@jeg812ify Жыл бұрын

@@MarkMattsonPE okay, thanks for the response, I had the exact same question. Fantastic videos by the way incredibly helpful!

@JokerSells Жыл бұрын

so what would happen if gradient started between 2 and forward?@@MarkMattsonPE

@abdelrahmanashraf8654 Жыл бұрын

Hi, Eng. MARK. Can you tell me how to reviewing all topics of ethics may be in the exam? i have no references for ethics topics

@kylesongpanya Жыл бұрын

Does anyone know why in Question 7 (econimics) the interest rate is applied to the ongoing maintainence costs and to the annual profit? It's not clear to me how you can understand from the wording in the problem that both of these are compounding interest and that the intitial investment of 2 mil isn't! Thanks, much appreciated!