1 x $ 254,00


    1 x $ 254,00

SUBTOTAL: $ 754,00








Repeat Writers - Understanding My Result

Published December 10, 2016 by Ira Walfish

There is no question it is disheartening to fail the CFE, but take solace in the fact that thousands of students over the years are now CPAs and they did not pass the first time around.  This is a bit of a game, and playing it right makes all the difference. 

But before we focus on what to do next (see our blog posting - Repeat Writers - How to Prepare for a 2nd Attempt), let's understand what went wrong this past September. 

CPA provides a 1 pager that gives you a brief summary of how you did on the different levels of the exam.  For this to make sense, you need to understand the levels, so let's go through each one.

Level 1 - Sufficiency

This level will say "pass" if you passed or "fail" if you were unsuccessful and give you a decile between 1 and 10.  For this level, CPA looks at how many times you scored "reaching competent" or "competent"/"competent with distinction" across all the Assessment Opportunities in day 2 and 3, and if you "scored" enough, i.e. got enough RCs and Cs/CDs in total, you pass Level 1.  That is why it is called "Sufficiency" - you have to be "sufficiently competent" across the board, on day 2 and 3 to get through Level 1. 

If you fail, you will get a decile and the higher the better (i.e. a 2 means you needed a few more RCs or Cs (maybe 2?) across all the assessment opportunities, while a 7 means you needed a bunch more).  If you get a 1 you just missed the minimum necessary to pass.

Practical implication - If you pass this level, your case writing is decent across the board and your weakness will be specifically related to one or more competency in level 2 or 3.  If you fail this level, you need some technical (most likely) and case writing (for sure) help.

Level 2 - Depth in Financial Accounting and Management Accounting

For level 2, you need to score a certain number of "competents" or "competents with distinction" in either financial accounting OR management accounting (you don't need both).  How many Cs/CDs?  This is a highly guarded secret, but let's guess that if for example there are 8 assessment opportunities, that you might need between 3 and 5 Cs/CDs.  Once you get the minimum number, your good and it does not matter for this level what you score on the remaining AOs.

Practical Implication - This level tells you how you did in both financial accounting and management accounting.  If you failed both, you need help in scoring competent in these areas and probably need some technical review.

Level 3 - Depth in Role (Day 2)

This is pretty simple.  You chose a role for the Day 2 comp - say assurance.  Based on historical experience assurance may have 7 to 9 AOs on the comp.  You needed to score "Competent"/"Competent with Distinction" several times to pass this level. 

Practical Implication - If you failed this level, you need help in whatever role you chose.  It means you simply are having problems getting "competent" in that competency, which could be a technical problem, case writing problem or both.

Level 4 - Breadth

This level looks at breadth in every competency and this means you need to get a minimum of RC a certain number of times across all competencies.  We would estimate that for all competencies except for management accounting and financial reporting that 1 or 2 AOs with a minimum of RC would be good enough to pass this level.  For management accounting and financial reporting you would likely need more RCs (or better) to pass as there are more assessment opportunities in these areas. 

Practical Implication - If you have a fail in a given competency, you definitely have a weakness in that area as it means the competency probably showed up a number of times, and you may have obtained "not competent" every time or at least almost every time.  Obviously, this needs to be worked on, as the standard to get RC is not high, and you should not be missing it on a regular basis.

So, bottom line is that you should look at this page closely and use it to help you zero in on your weaknesses. 

How do you move forward?  Check out our next blog "Repeat Writers - How to Prepare for a 2nd Attempt".  And don't despair - with the right game plan in place, you can definitely do it!