FAE 2011 - Registering and getting started

jamesgreenpark

Hi everyone,

After 2 long years I finally passed my CAP2s last week and I am in the process of registering for my FAEs. I am trying to find out a number of things in relation to the new course, and as usual the Institute's website provides very little information.

Firstly, in relation to timetables, when did the lectures start last year and how many weekends a month on average do they take up? When do they finish and are there midweek lectures?

Secondly, how many attempts do you get at the new FAEs?

Thirdly, I have heard that when CAI publish the results, they just say Pass or Fail and don't give you a breakdown of your marks. Is this true?

Thanks in advance!

Odats

You get 3 attempts officially but they'll generally give you a fourth attempt but would have to repeat the whole exam. AFAIK if you get competent in your elective you get to carry it forward so on the 4th attempt assuming you got the credit you'd have to sit it again with the core exams. Well the new syllabus for FAE is only introduced this year so the way the results are now I don't know.
Lectures most years usually start in November.

pmcc123

jamesgreenpark wrote: »

Thirdly, I have heard that when CAI publish the results, they just say Pass or Fail and don't give you a breakdown of your marks. Is this true?

there are no marks. Seriously.

Phathaus

Your marks are sent out in the post. Online (in the public domain) people can only see if you passed or got a credit. It doesn't go into further detail. The CAI will send out a letter showing the breakdown of the results.

Sparko

And you'll need a separate qualification just to understand your results.

Pisco Sour

Bit early for an FAE 2011 thread I would have thought

Jamesw2

Having problems deciding on elective for FAE. Will have to be audit or tax. Any advice welcome. Anyone take tax and wish they had taken audit or vice versa?

Phathaus

Phathaus wrote: »

Your marks are sent out in the post. Online (in the public domain) people can only see if you passed or got a credit. It doesn't go into further detail. The CAI will send out a letter showing the breakdown of the results.

Whoops, I was referring to the CAP2 exams apologies. So you don't get the result of your FAE exam? What's the logic behind that?

pmcc123

Phathaus wrote: »

Whoops, I was referring to the CAP2 exams apologies. So you don't get the result of your FAE exam? What's the logic behind that?

No, seriously I think most people have given up trying to understand the evaluation methodology of the papers.

You basically get a "pass or fail" which is contingent on your performance across 6 modules "super 6" - though really that's a misnomer, as the "sufficency" and "depth" requirements across the 6 modules varies, and is in turn contingent on several other factors.

One over simplistic way of looking at things, is that you need to do well in what would have been FR and multi-D. You basically need to have a working knowledge of the other subjects.

The huge challenge however is the format of the examination. Basically you are given a document similar to your cap 2 case study from which you are meant to deduce the questions.

This gives rise to the obvious difficulties:

1. People place different emphasis on different parts of the case study due to their professional background.
2.The case study contains numerous "unintentional indicators" causing students to spend time and effort on areas for which no credit is awarded.
3. The student is required to make assumptions which may be unrealistic - without the assumptions the question cannot be answered correctly.
4.In the case studies provided (only 2 sample papers currently exist) what constitutes a "competent answer" varies wildly.

In summary, the challenge of fae is entirely different than cap2, calculations are far less complex, and therefore you are expected to be "right" most of the time. Class during the year is mostly "revision and update" - as far as I am aware students have been given no opportunity to provide feedback on any element of this.

Happy to discuss elective if anyone needs.

Ilovechoc

All I can say is......God help you!!! I have done so many exams over the years and passed all of them first attempt but these exams.....they are the most difficult & unfair exams I have ever stydies for.

Don't mean to put you off...like me you have too much invested now to drop out so my advice to you is what I wish I did.....go to all lectures (I missed quite a few) there will be some revision courses before Xmas which are optional but go and use those few weeks to revise CAP2..(I know you have just done CAP2 but u'l be surprised at how much you will forget) then when the actual FAE begins the vast majority is all repetition but the difficulty is applying what you know to case study...so practice as many cases as possible...by doing the cases early on in the year if you are stuck on anything (beware of solutions riddles with errors!) you will be meeting the lecturers on a regular basis to ask questions.

Also read up on business newspapers to get a feel for all the likely industries that could come up.

Do that and you should do fine!

I am confused as to the marking also very strange..but I am aiming to pass and thats all I want to see on my letter..please please God!!

Best of Luck

Pisco Sour

pmcc123 wrote: »

No, seriously I think most people have given up trying to understand the evaluation methodology of the papers.

You basically get a "pass or fail" which is contingent on your performance across 6 modules "super 6" - though really that's a misnomer, as the "sufficency" and "depth" requirements across the 6 modules varies, and is in turn contingent on several other factors.

One over simplistic way of looking at things, is that you need to do well in what would have been FR and multi-D. You basically need to have a working knowledge of the other subjects.

The huge challenge however is the format of the examination. Basically you are given a document similar to your cap 2 case study from which you are meant to deduce the questions.

This gives rise to the obvious difficulties:

1. People place different emphasis on different parts of the case study due to their professional background.
2.The case study contains numerous "unintentional indicators" causing students to spend time and effort on areas for which no credit is awarded.
3. The student is required to make assumptions which may be unrealistic - without the assumptions the question cannot be answered correctly.
4.In the case studies provided (only 2 sample papers currently exist) what constitutes a "competent answer" varies wildly.

In summary, the challenge of fae is entirely different than cap2, calculations are far less complex, and therefore you are expected to be "right" most of the time. Class during the year is mostly "revision and update" - as far as I am aware students have been given no opportunity to provide feedback on any element of this.

Happy to discuss elective if anyone needs.

This post sums it up quite well, with the exception of going to lectures as the lecturers know as little about the format and marking etc of these exams as we do.

The whole thing is a joke.

I may aswell be honest. You guys are in for 3 months of pure hell next summer. There is no point in beating around the bush. Studying for these exams would suck the life out of you. Its best to be prepared for that. These exams are MUCH worse than CAP 2! These are like no other exam you have ever done and ever will do.

Best of luck, but PLEASE dont even think about these exams yet! Why on earth is there a thread up about it already! Enjoy your life while you can :-)

Phathaus

04072511 wrote: »

I may aswell be honest. You guys are in for 3 months of pure hell next summer. There is no point in beating around the bush. Studying for these exams would suck the life out of you. Its best to be prepared for that. These exams are MUCH worse than CAP 2! These are like no other exam you have ever done and ever will do.

Oh what joy, so much to look forward to. As if the CAP2s weren't a pain enough.

It's quite annoying really as weren't the FAEs supposed to be easier than the CAP2s in the past?

Pisco Sour

Phathaus wrote: »

Oh what joy, so much to look forward to. As if the CAP2s weren't a pain enough.

It's quite annoying really as weren't the FAEs supposed to be easier than the CAP2s in the past?

The old FAE's were easier than the old Prof 3's, and from looking at the past FAE papers I can say safely that they are significantly easier than the CAP 2's. Unfortunately the new FAE's dont follow the same trend. The material may not be any more difficult than CAP 2 but it is the layout of the whole exam that is painful.

Hackysack

Subscription post to this thread.

While I'm in no rush to get started into FAE territory, it's something I'd like to know. I have actually no idea what i'm in for, and i'll be the first to hold my hands up and say that.

I had to choose my elective already, so I went with Auditing. But sure, i'll worry about it a bit later.

But yeah, best of luck lads (and lasses). Everyone I know who's sitting them is bricking it. It sounds completely awful that despite the amount of work you can spend preparing for it, you can just fcuk it up in one potentially bad exam. I honestly don't know how people are preparing for it, but yeah, best of luck everyone. Give it your all!

Pisco Sour

Hackysack wrote: »

Subscription post to this thread.

While I'm in no rush to get started into FAE territory, it's something I'd like to know. I have actually no idea what i'm in for, and i'll be the first to hold my hands up and say that.

I had to choose my elective already, so I went with Auditing. But sure, i'll worry about it a bit later.

But yeah, best of luck lads (and lasses). Everyone I know who's sitting them is bricking it. It sounds completely awful that despite the amount of work you can spend preparing for it, you can just fcuk it up in one potentially bad exam. I honestly don't know how people are preparing for it, but yeah, best of luck everyone. Give it your all!

Have a read through the 2010 FAE Thread and it will give you a pretty good idea of what you are in for.

Hackysack

I reckon I'll save that bag of joy for when I actually start nerding for them!

cunning stunts

pmcc123 wrote: »

No, seriously I think most people have given up trying to understand the evaluation methodology of the papers.

You basically get a "pass or fail" which is contingent on your performance across 6 modules "super 6" - though really that's a misnomer, as the "sufficency" and "depth" requirements across the 6 modules varies, and is in turn contingent on several other factors.

One over simplistic way of looking at things, is that you need to do well in what would have been FR and multi-D. You basically need to have a working knowledge of the other subjects.

The huge challenge however is the format of the examination. Basically you are given a document similar to your cap 2 case study from which you are meant to deduce the questions.

This gives rise to the obvious difficulties:

1. People place different emphasis on different parts of the case study due to their professional background.
2.The case study contains numerous "unintentional indicators" causing students to spend time and effort on areas for which no credit is awarded.
3. The student is required to make assumptions which may be unrealistic - without the assumptions the question cannot be answered correctly.
4.In the case studies provided (only 2 sample papers currently exist) what constitutes a "competent answer" varies wildly.

In summary, the challenge of fae is entirely different than cap2, calculations are far less complex, and therefore you are expected to be "right" most of the time. Class during the year is mostly "revision and update" - as far as I am aware students have been given no opportunity to provide feedback on any element of this.

Happy to discuss elective if anyone needs.

Great post, bang on the money...u u should email this to the institute!!

pmcc123

cunning stunts wrote: »

Great post, bang on the money...u u should email this to the institute!!

nah, I think that post comes across as overly negative!

Overall I think we miss the point that the new FAE is defo more realistic and less mechanistic than the old exams. Its just an unfortunate side effect that they all seem more difficult to pass at the mo!!

Sparko

Yeah it's definitely a more realistic approach, it's just a shame how piss poor the implementation has been.

Pisco Sour

Sparko wrote: »

Yeah it's definitely a more realistic approach, it's just a shame how piss poor the implementation has been.

You really think it is more realistic to have accountants doing up HR letters to reassure employees that their jobs are safe? :rolleyes:

macannrb

Sparko wrote: »

Yeah it's definitely a more realistic approach, it's just a shame how piss poor the implementation has been.

I think the devil is in the detail....