5 Key Takeaways from the September 2017 CFE

  1. Management Accounting: Management accounting finally showed up as a common element on day 2. That makes it 1/4 CFE’s where this was the case. All 3 prior CFE’s only tested FR as the common element. What will they do next year? Only time will tell.
  2. Time Crunch: The time crunch is real on day 3. Be sure to practice budgeting your time throughout the cases in Capstone 2 in order to perform well on Day 3. Seating is random so some people are closer to the bathroom than others. Be prepared to literally sprint to the washroom – that’s the norm at the CFE on day 3!
  3. Distractions: There will be distractions. The key is to remain focused and keep writing. In the Toronto South Sept 2017 CFE the speakers continually made and annoying crackle noises. Those who could keep writing gained a competitive advantage.
  4. Lateness: Exams are scheduled for 9, but you will not begin writing until around 9:30 – 9:45. It also takes a long time for them to collect the exams due to the controls in place. Anticipate that this will occur and plan accordingly.
  5. Valuables: You are only allowed to keep wallets and keys on you (personal belongings), having a cellphone on you is against the rules and you are forced to leave your bags in a bag holding room. If you are very particular about your personal belongings, it may be a good idea to leave your valuables behind.

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