Financial Performance Exam

Starryeyes

Hi,

I have just received my results for FP and I have failed, I am after other peoples thoughts on this exam, as I feel there isn't enough past papers and variety of questions to help us through the CBA.

my cost card was like nothing I have ever seen before, and I knew straight away that I was going to fail as this was my first question and all my confidence just went out the window!!

All my questions were the opposite of what I had learnt......and I spent a whole solid week doing revision so I felt ready for the exam, only to get a paper that looked like it was meant for a different topic!!!

Has anyone else experienced this, at the moment I think only 2 people out of 10 in my class has passed, this isn't good!!!!

Thanks in advance Ruth

whinpin

Hi Ruth

I sat this exam for the third time yesterday and almost sure I've failed yet again. I feel I was doing really well the best I'd done until I got to part 2 and it just went down hill from there them bloody emails and index number the trends always confuse me no matter how many times I revise them. They seem to always throw something in that I've not seen before. There is no way I will graduate this year I'm gutted. I'll be back next year and have to face this exam again. I agree with you there is not enough variety of question on any of the exams in level 4. Do you think the AAT are doing this so that so many students are passing.

Regards
Pam

welshwizard

Hi there

Whilst I agree that there needs to be more practice material (something the AAT is working on), if you buy the Osborne and BPP Books, you could (in theory) have a total of 6 practice papers. I do know that the AAT are working on adding more practice papers to all Learning Areas with redundant 'live assessment' questions in them but this obviously takes time to sort out as they also need to keep a good number of 'live questions for each task.

Given the nature of the 'new style' assessments, there is no such thing as a past paper but you could always access the old NVQ Unit 8 papers for more practice.

There is, however, a significant flaw ion your opening post. You can't expect to have sight of every possible scenario because, in the real world, you would be coming across new situations every day and there is no 'one size fits all' solution. The standard costing is just an extension of a flexed budget and, if you're comfortable with this you should be able to see that the materials and labour variances can be caused by more than one factor. It is imperative to be able to write about things as well as calculate figures - anyone can punch a few buttons, but it's the written tasks that sort out those who can from those who can't.

Don't get me wrong, I feel for you - I have been through the AAT (NVQ) programme and now teach on it so I do know what I am talking about. If you read all the feedback from the Chief Assessors you will find that, at Level 4, the most common thing to trip people up is the writing so don't be too hard on yourself. Also don't forget that, whilst you didn't achieve, you may well have had a score like Section 1 70% and Section 2 65% which is actually very good because the papers are hard.

Make sure that you get your Performance Feedback Report from your provider to pinpoint the areas you need to look at further.

Good luck - you will be so pleased that you persevere with your studies.

whinpin

Hi

Thanks welshwizard for that it makes sense what you've said.

It just so upsetting I was there till the very end and put loads of revision and practised email after email because I work in a factory not finance. This is my way out and now I will have to go back next year. Sorry every one to moan just really disappointed in myself. I'll pick myself and start all over again. Financial Performance I WILL BE BACK.

Thanks
Pam

Becky V

Hi Ruth i sat this exam just over 2 weeks ago and found it very tough! I sat there for the whole 2 and half hours where as the other exams i have finished before the time is up! Really not sure what my result will be but expecting the worst.

Welsh Wizard i understand what you are saying and very good advice, as for our results it would be nice if AAT gave us a percentage for each section and let us students know how well we have done. As i understand it we are suppose to get 70% in each section but we will never know what our percentage is so we might have just scraped through or only just failed! This i find frustrating!

welshwizard

Hi Becky

It would, indeed be good if you could see a % result for each section - but what abotu a % mark for each question? I know there are many of us tutors who would like to see this as we really feel that we can't give adequate feedback with the current system (althought, to be fair, the AAT is working on improvements). The current system is still far better than what we had 18 months ago (i.e. no feedback) and I am sure we will see even more improvements given time.

Maybe you should open a poll on this forum to see how many students would like to see a % mark for each section/question - that AAT may take notice of you all then.

CovTeej

I received my results last thursday and I had failed, even though my feedback showed 5 areas exceeded. I was really annoyed as this was the first exam that I had felt confident about after I left the exam room.

My tutor has contacted the aat on my behalf as she cannot understand how I have failed when people with poorer results, at least going by the restricted feedback we get, have passed. My results are also missing a section (2.1) with the line underneath the main body saying 'exceeded unknown' so there is the possibilty that I exceeded 6 areas of knowledge.

Going on from what WelshWizard and BeckyV have said, I have already composed an email to the aat (I need to proof read it before I send it as I was still quite angry at the time) regarding showing marks available per question in the exam as I believe ACCA and CIMA do (I know that each question can have several sections but I don't feel it would be necessary to brake the points down per section) and also providing you with your result as a %age rather than just competant or not. Whilst it is a step in the right direction that they are now at least providing us with some feedback, I think it definitely can be improved upon, I also think that we should have longer to appeal, the current period of 10 days is very restricting.

When I have asked the aat for a scheme of marking, or at least info about how the questions are weighted, the reply simply said that all the questions carry different marks and that I should contact my training provider.

siva

I agree with you guys, i had my FNPF exm last week and it was tough especially part 2, there was only three questions, under that three question there was so many sub divisions, i took whole 2 and a half hours as well.
I had one hour to do my part 2 and had half an hour for my last question which i was thinking is enough to do the theory question as this is how all the practice papers had, but to my surprice and shock there was again three subdivisions where i had to calculate sales, costs, gross profit, net profit and the percentages and then i have to comment on those.

Is it possible to complete all these in half an hour, also the numbers were given in millions like 13400000000, i dont know it was so confusing and i had to count these zeros again and again to see i put correct numbers as not all of them are in millions some in hundred thousands.

I didn't have time to complete the theory question i just wrote 1 line for each heading, i had to commment on the gross profit.

I dont really want to fail this exam as i was very confident before the exam but not now. To me the amount of questions far exceeded the practice papers.

babyria

hi i had the same problem doing my resit on monday, the first question with the costing card was so strange, i had practiced that question on osborne assesments and on green light never had an issue. but the numbers that were coming out for the costing card for the exam was so strange. and i completely agree with the millions question cos i were doing that and having to keep counting the zeros, thank god my eyesight is pretty good because the font size was shocking.

Jo Clark

babyria wrote: »

thank god my eyesight is pretty good because the font size was shocking.

I thought we had the ability on Surpass/SecureAssess to change the screen colours/fonts to make the exam clearer to read - via preferences button.

welshwizard

You do - but, honestly, the default option is the best - the others make me feel very unwell......

The whole interface needs to be redesigned - allow for different size fonts, different colour backgrounds/fonts, get rid of the red border.

Starryeyes

Hi All,

Many thanks for the replies, Im glad its not just me that found this exam challenging.

I am now studying for my budgeting exam tomorrow morning, I wish I hadnt looked at my results though for FP as it has knocked my confidence.

I have the osbourne books and green light to go at. Finger crossed I don't get any random questions in there.

Ruth

FrancesD

I am sitting this tomorrow - dreading it

Becky V

CovTeej wrote: »

I received my results last thursday and I had failed, even though my feedback showed 5 areas exceeded. I was really annoyed as this was the first exam that I had felt confident about after I left the exam room.

My tutor has contacted the aat on my behalf as she cannot understand how I have failed when people with poorer results, at least going by the restricted feedback we get, have passed. My results are also missing a section (2.1) with the line underneath the main body saying 'exceeded unknown' so there is the possibilty that I exceeded 6 areas of knowledge.

Going on from what WelshWizard and BeckyV have said, I have already composed an email to the aat (I need to proof read it before I send it as I was still quite angry at the time) regarding showing marks available per question in the exam as I believe ACCA and CIMA do (I know that each question can have several sections but I don't feel it would be necessary to brake the points down per section) and also providing you with your result as a %age rather than just competant or not. Whilst it is a step in the right direction that they are now at least providing us with some feedback, I think it definitely can be improved upon, I also think that we should have longer to appeal, the current period of 10 days is very restricting.

When I have asked the aat for a scheme of marking, or at least info about how the questions are weighted, the reply simply said that all the questions carry different marks and that I should contact my training provider.

Hi i was just wondering if you had heard back from AAT? This seems strange if you had exceeded in 5 areas and not competent.

CovTeej

I did hear back, they just said that all the questions have different marks and that I should speak to my tutor. I had already spoken to my tutor and she was at a loss to understand how I had failed too when others in the class had passed after exceeding less and dnm more, and had already contacted the aat on my behalf. I have a lesson with her tonight, so will see if she had a better reply than I did!