FAE Exam Advice

I sat my FAE exams a few years ago, and managed to get through first time around. Here are a few pointers which should be of use to you.

What does the FAE exam test?

  • Technical knowledge
  • Practical application of that technical knowledge (NB practical, wasting time showing off your all your theoretical knowledge will not get you too far)
  • Prioritising issues, and how to deal with large amounts of information
  • Ethical issues – identifying them
  • Communication skills


What to do in the FAE Exam:

Step 1 – 30 minutes reading time:

  • Identify the key issues and indicators
  • Don’t waste time here panicking and worrying
  • Key areas:
    • Identify issues
    • Identify their impact
    • Quick calculations
    • Prioritise issues


Step 2 – Answer Planning:

  • Plan key points
  • What are the alternative solutions?
  • Pros/Cons, Benefits/Drawbacks
  • What? Why? What? – Prepare your recommendations.


Step 3 – Writing your Report/Memo/Letter

  • Prepare the appendices
  • Do your calculations
  • Layout your calculations neatly and clearly
  • Mark assumptions if needed – also, state any assumptions you make
  • Write the body of the report/memo/letter


[message type=”normal” icon_size=”fa-lg”]Don’t forget to bring…
1. ID
2. Calculator and pens
3. Spare calculator and pens
4. Water and sweets[/message]

Exam Time Wasters

  • Panicking (keep those nerves under control)
  • Worrying about issues to prioritise
  • Too much emphasis on presentation (your handwriting doesn’t need to be perfect)
  • Too much detail
  • Nit picking (e.g. worrying too much about minor spelling mistakes)

[message type=”normal” icon_size=”fa-lg”]If you’re stressing out during the exam, focus on doing just one thing. Just get one thing and move on…[/message]

After the exam each day

GO HOME…. don’t wait around scaremongering with friends, and don’t go online to scare yourself using online forums. That’ll do you no good. Get a good rest, stretch your legs and prepare for the next day.