How do I master finance?

Hey all, been reading this forum for a while now and have really had my eyes opened to the world of finance in terms of networking and expectations.

My question now is - How do I master the finance information? I have read some of the threads that give great advice on how to maximise your GPA through good time management and smart studying etc. But I think there is a difference between maximising GPA and maximising your GPA because you have completely understood a subject.

The analogy I like to use here relates to maths. In any given maths test you will have easy, medium and hard questions. Anyone who has a slight work ethic and half a brain will be able to do the easy and medium questions because they have memorised the formulas and are capable of substituting figures into the formula and working out an answer. However, the hard questions not everyone is able to do. Even though they apply the same principles and formulas. Why? Because only those who have truly grasped the concept and understood the information will be able to understand the nuances and subtleties and assumptions of the formula/theory and the question.

I am currently studying in Australia and I am finding it difficult to bridge the gap between theory and practical application. Therefore my overall question has two smaller parts to it

a) What sort of resources did you in class and to supplement your learning of the information?

b) How did you bridge the gap between theory and practical applications? For instance right now I have done the most basic valuation of a share - ie. sum of all discounted future dividends. I understand the theory but there are so many assumptions with this theory that are problematic when dealing with real life companies etc.

Any tips would be awesome. Thanks!

TL;DR - how did you go about mastering finance. Distinguished from how did you maximise your finance course grades.