Yesterday's exam!

System
System Posts: 100,534 🤖 Admin 🤖
edited 10:32AM in AAT student discussion

Did anyone else struggle with this?

I have done all the past papers but this one confused me!

I got a minus figure for the margin of safety at -20% for 1000 units?!

Can anyone else tell me how they found it?

Comments

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Yesterday's exam!

    :) :(I found the Margin of safety percentage question hard everyone on this site seems to have different answers to me I got 51% for one did anyone else? The exam paper was nothing like the past six papers.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Yesterday's exam!

    There's a survey to fill in about what you thought of the exam - you should put your comments in there - I have. I thought it was awful compared to the past papers.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Yesterday's exam!

    Good idea I think I might do that!

    You are right there it looks like everyone has different answers which is not very good is it.

    I will just have to retake it in June in the worst case scenario.

    What a nightmare!
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Yesterday's exam!

    If everyone has done quite badly they will re-calculate the pass mark and may make it lower.

    Good luck!

    Gem
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Yesterday's exam!

    I got -20% as well - thought about it for a bit then decided it had to be right cos then it went to 0 and +20% and it was a nice round number!
    gw
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Yesterday's exam!

    But surely there is no way that your margin of safety can be -20% as you would have no drop in sales. I found this question hard but I got MOS of 28%, 23% and 18% but I think that all of these are incorrect.

    Overall I thought the paper was OK and I didn't find anything else too challenging.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Yesterday's exam!

    Well, in the explanation on the next page, I said it meant that sales had to increase by 20% to break even.
    Agree it was confusing though, and I'm not exactly confident on that one.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Yesterday's exam!

    UNFAIR-It was a negative BEP and MOS. I'm sure nobody was taught this and it isn't in our text books.

    Please send your complaints to:

    examfeedback@aat.org.uk.

    We may get some credit!
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Yesterday's exam!

    Exactly I totally agree but I think I lost it as soon as I entered the exam room to be honest!

    I thought it was unfair I thought the questions were worded differently too. I know that there were supposed to be a few changes on this exam but not to that extent.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Yesterday's exam!

    The exam was far les wordy than previous papers. I was worried about the investment appraisal questions coming up but there wasn't even any reason to explain each method! That was a breeze!!

    With regards to the MOS, If you were to caculate a -ve MOS, this would indicate that the sales price would at least need increasing as you would not cover costs with the proposed £40 price tag. This is something that as accountants we may be called upon to do and as the unit is entitled Evaluating Costs and Revenues You would think that this sort of thing (i.e. calculating a -ve MOS) may happen quite regularly. This is why people pay accountants. This is why we are doing the course. This is why it is hardly unfair for the AAT to present us with such a question.

    Quit moaning about it. If enough people got it wrong, the pass mark will undoubtedly drop. If not, however, there is another exam in June.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Yesterday's exam!

    A few people from my class made this same mistake, but on the whole most of us got it right from what was being said after the exam.

    I will try and explain how it works, for those who aren't too sure.

    Break-Even-Point = Total Fixed Costs / (Sales Price Per Unit - Variable Costs)

    Eg. (i have made these numbers up so they fit the example)
    BEP = 1200 / (12-11)
    => BEP = 1200 / 1
    => BEP = 1200

    MOS = Sales - BEP

    Scenario A: Sales = 1000
    => MOS = 1000 - 1200
    => MOS = -200

    Scenario B: Sales = 1200
    => MOS = 1200 - 1200
    => MOS = 0

    Scenario C: Sales = 1500
    => MOS = 1500 - 1200
    => MOS = 300

    Margin of safety, expressed as a percentage is calculated by doing the following;

    MOS% = ((Sales-BEP) / Sales) x 100

    Scenario A;
    1000-1200 = -200
    -200/1000 = -0.2
    -0.2 x 100 = -20%

    Carrying out the same process for the following two scenario will give you the right answer - -20%, 0% and 20%.

    I hope this helps someone! It's taken me ages to type it all out and check my math along the way.

    PS. I completed the exam in under an hour... did anyone else manage this?
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Yesterday's exam!

    Thankyou that is exactly how I did it I just hope it is correct!

    Good luck and thanks for your help.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Yesterday's exam!

    The ECR is over and done with but with much controversy. I am sure that the pass mark will be low this time.

    For anybody who wants to indirectly 'comment' on the paper, the AAT is carrying out a survey to find out the level of difficulty of each paper.

    You should consider submitting your thoughts and opinions on the exam through this survey. It is possible that it will affect the pass mark - make it lower perhaps!
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Yesterday's exam!

    I completed the survey earlier - its not the easiest to complete, asking for your opinions on each particular question, but only giving the number eg. 1.1, 1.2, 1.3 etc.

    How can you be expected to remember the particular question a day after you completed it?

    Does anyone know when the paper, and the answers, will be available for download as pdf along with all the others?
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Yesterday's exam!

    Ok-not moaning, I just wanted to know if I was the only one who found this question hard. That's what the site is for, so we can discuss our feelings. I thought your comment under my entry "ECR UNIT 6" was a bit harsh. I'm not aware how AAT mark the papers so fingers crossed for everyone. x
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Yesterday's exam!

    You can complete the questionaire on 12th Dec as AAT are going to put a reminder on the website as to what the questions were.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Yesterday's exam!

    That'll be a better idea!

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Yesterday's exam!

    I 2 found it difficult for i couldn't figure out the order in which the questions were but i remembered that the first few questions were easy and the level of difficulty rose along the way leading 2 the end.

    As for the availability of the paper on the site, you won't see it for a long time. I think it'll come out around the time when the results are known. That's maybe 2 mths from now! I am hoping that it is sooner this time! I badly want 2 c the answers and compare 2 mine.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Yesterday's exam!

    I 2 found it difficult for i couldn't figure out the order in which the questions were but i remembered that the first few questions were easy and the level of difficulty rose along the way leading 2 the end.

    As for the availability of the paper on the site, you won't see it for a long time. I think it'll come out around the time when the results are known. That's maybe 2 mths from now! I am hoping that it is sooner this time! I badly want 2 c the answers and compare 2 mine. :)
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Yesterday's exam!

    I've signed up for the emailed results notification, which is sent out on February 20th.

    It's to be hoped i pass it first time, because by then, after the christmas & new year festivities & 2 months of learning something else, i wont have a chance of remembering any of it for a retake.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Yesterday's exam!

    Have you?? You can tell me then!

    I registered for online notification of my PLB results and i did receive it on the date. Ive forgotten what i am supposed 2 do to register 4 this service! Where should i go?

    Thanks :)
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Yesterday's exam!

    https://www.aat.org.uk/account/emailmyresults/
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Yesterday's exam!

    i did the ECR Paper on Monday and now i know i done the margin of safety wrong lol..ppl are sayin different answers but i dfinatley did not get -20% ahhh am gona fail!!imagine that could be work alot of marks aswell:(..i was ok with the other questions though...how did every1 else get on on the ECR Paper????that paper was....NO COMMENT lol
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Yesterday's exam!

    I thought the survey layout was crap too .. i just put extremely difficult on tasks 2.1 2.2 and 2.3 and im sure the MOS question was one of those :lol:
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Yesterday's exam!

    yeahh think most ppl were havin trouble with the margin of safety that was baffling to me.i panicked and proably calculated it wrong..i know i did but the rest of the paper was fine.just 2.2 onwards.the last question was just a memo so that was easy enough since i have een practicing memos in my class.but u know what in my college im taking my FRA exam in June..some ppl took theirs 2day?lool.guess i got more time 2 revise for it:)i dont really remember the other questions..which other one did u find hard???

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