Tuesday, Apr 23, 2024

19:42

FAE INTERIM ASSESSMENT

Posted on: Monday, February 06, 2017

The Interim Assessment for the FAE Tax Elective will take place on 22nd April 2017.


FORMAT

The Interim Assessment will be an open book exam lasting 90 minutes where FAE students will be asked to analyse and advise on three specific issues in a simulation based on the course content highlighted by the (√) symbol in the Competency Statement 2016/2017.

Students should also be aware that the material annotated with “Core Level” is also examinable in this exam.

The Interim Assessment will contribute to the FAE students' final result for the Tax Elective i.e. One indicator will be carried forward to the final exam.



PREPARATION

It’s never too early to start your exam preparation but here are a few guidelines to help you organise your study:

• Keep up with the Lessons - Attend the lectures and if that’s not possible keep up to date with the on-line material.  You should review the accompanying written material before and after the class and if you have any queries, seek clarification as soon as possible.

• Break up your study in to short management segments so that you don’t get overwhelmed by the volume of course material.

• Make sure you have a solid understanding of key concepts.  If you are experiencing difficulties, you should read additional explanatory material, seek guidance from your Lecturer or ask a work colleague for help.

• Study on a regular basis.  This is not a subject that lends itself to cramming at the end.  You should find a quiet place to study at a time when you are most mentally productive and do so on as regular a basis as your other commitments allow.  If possible why not set up a study group or even source a study partner to keep yourself motivated.

• Time yourself working through past exam questions without the aid of the solution.   When going back over the suggested solutions, familiarise yourself with the exam format and make sure you understand where each mark was allocated.

• Organise your thoughts.  Based on your course material and past exam questions, plan the information you require to write a successful answer.  This is particularly important when compiling your exam folder.  Remember in every tax question, your answer must focus on (a) the event, (b) the parties involved, (c) the different tax heads, (d) the Reliefs available, (e) any alternative reliefs, (f) any anti-avoidance issues, (g) your conclusion and any alternative actions.

• Finally, good sleep patterns, healthy eating and regular exercise will certainly enhance your study as well as your performance on 22nd April 2017.


The Interim Assessment is very important for every FAE student.  With early planning, a regular study pattern and hard work, you could be carrying some very valuable marks into the final FAE Elective exam which should result in an overall PASS in 2017.

Very Best of Luck