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…
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.