Failing accountancy exams (CAP1s)

LegacyUser

Does anyone know, if you fail any of the ACA exams, do you pay for the repeats or does your employer? Am working for one of the big 4. And how much do they cost? Also, will you definitely be given at least one chance to repeat them? Thanks.

dudara

I'd imagine that the policy varies between the firms. What does your training contract say in relation to this?

You should probably also contact someone in the HR department - whoever deals with folk on training contracts.

I know in actuarial you get two goes and then you pay for yourself - but I'd say that policy varies. Better check in your own company

LegacyUser

Personally I would not expect a comapny to pay for repeat exams. I would expect them pay main exams but not repeat exams as some companies dont even pay for main exams

Depends on the terms of your contract.

Many of the big 4s were using failed exams as an excuse to cut headcount recently. Not sure if this is still happening.

Nidot

I'm in one of the big 4, won't say which 1, and a few of the gang here failed the first sitting.

They had to pay for their own repeats, don't think it was an excessive amount, around the €100 mark if I remember, but I could be wrong.

As far as being let go.

Those who were sitting all the exams at CAP1 or CAP2 level were told that if they failed a repeat they would be let go, company policy, bladdie, bladdie blah. While those who were doing modular were not given the same threat as long as the exam they failed at repeat was CAP2, as they had another year of CAP2 exams to pass it.

This could be different among the firms tho so I'd check it out. Best bet is to check with the seniors you thrust as they will more than likely just lay out the truth to ya.

Anyway, you probably passed, only post exam disections lead to worry.

Best of luck.