PEV Exam - what did you think?

• New Member Registered Posts: 7
iainiow wrote: »
how do people remember exact figures from the exam yesterday :laugh: i can remember walking in, doing the paper and walking out - 24 hours later i remember nothing of what i wrote down lol!!!!!!!!!!:thumbup:

Yep totally agree. Have loads of beers and forget it ever happened.
• Just Joined Registered Posts: 1
Ok,

Never wrote on here before but here goes....

I thought the exam was a lot easier than i expected and cam out feeling really positive.

After reading through what everybody has wrote i'm not feeling so confident now :-s

The part with Y= 9 + 0.1 x

Nov x = 29
Dec x = 30

We were told that Y for November was 12.00. However as November worked out at 11.90 and December worked out at 12.00 i figured that the cost of glass for each month should be what ever the following moth worked out at?

ie.
November worked out at 11.90 actually cost 12.00 (Dec)
December worked out at 12.00 ctually cost 12.10 (Jan)
January worked out at 12.10 actually cost 12.20 (Feb)
February worked out at 12.20 actually cost 12.30 (March)
March worked out at 12.30 so is the total for Feb??

Did anybody else do it this way?

OOOOpppps!
• Well-Known Registered Posts: 125
Chezza wrote: »
Ok,

Never wrote on here before but here goes....

I thought the exam was a lot easier than i expected and cam out feeling really positive.

After reading through what everybody has wrote i'm not feeling so confident now :-s

The part with Y= 9 + 0.1 x

Nov x = 29
Dec x = 30

We were told that Y for November was 12.00. However as November worked out at 11.90 and December worked out at 12.00 i figured that the cost of glass for each month should be what ever the following moth worked out at?

ie.
November worked out at 11.90 actually cost 12.00 (Dec)
December worked out at 12.00 ctually cost 12.10 (Jan)
January worked out at 12.10 actually cost 12.20 (Feb)
February worked out at 12.20 actually cost 12.30 (March)
March worked out at 12.30 so is the total for Feb??

Did anybody else do it this way?

OOOOpppps!

I can see your logic here Chezza.
• New Member Registered Posts: 7
Chezza wrote: »
Ok,

Never wrote on here before but here goes....

I thought the exam was a lot easier than i expected and cam out feeling really positive.

After reading through what everybody has wrote i'm not feeling so confident now :-s

The part with Y= 9 + 0.1 x

Nov x = 29
Dec x = 30

We were told that Y for November was 12.00. However as November worked out at 11.90 and December worked out at 12.00 i figured that the cost of glass for each month should be what ever the following moth worked out at?

ie.
November worked out at 11.90 actually cost 12.00 (Dec)
December worked out at 12.00 ctually cost 12.10 (Jan)
January worked out at 12.10 actually cost 12.20 (Feb)
February worked out at 12.20 actually cost 12.30 (March)
March worked out at 12.30 so is the total for Feb??

Did anybody else do it this way?

OOOOpppps!

I did it that way surely it is their mistake so they should mark both ways right. I have e-mailed to find out.
• Settling In Nicely Registered Posts: 22
Hunnie wrote: »
Did anybody get the following?
Material price variance (glass) £21000A
Material usage variance £0
Labour rate variance £0
Labour efficiency variance £1400F
FOH expenditure variance £1000A
FOH efficiency variance £6000F
OAR £30

How did you explain the £0 variances?
I explained the zero variances by saying the the 'Ideal Standard' was met......
You have Adverse and Favourable and those which are exact to the 'Ideal Standard' dont you???
Could be wrong though?
• Feels At Home Registered Posts: 56
I don't remember any of the last question being in my books - i did distance learning with kaplan - only the theory of what lifecycle costing is, i never did any equations or working with it.
have i forgotten/missed something, or did anyone else find that all new and scary? I had to miss it completely becuase i had no idea what i was supposed to do - hopefully everything else i've done will be enough to get me through!
• Feels At Home Registered Posts: 25
Hunnie wrote: »
Did anybody get the following?
Material price variance (glass) £21000A
Material usage variance £0
Labour rate variance £0
Labour efficiency variance £1400F
FOH expenditure variance £1000A
FOH efficiency variance £6000F
OAR £30

How did you explain the £0 variances?
Hunnie

This is exactly what i got, Explained the nil as being due to the higher quality material resulting in no wastage also used the no of orders being below capacity.
• Feels At Home Registered Posts: 25
belleire wrote: »
Hi,

I studied so hard for PEV as it's my final exam thought I would be skipping out of the exam yesterday but NO the last question 2.3 left me feeling very unsure as to whether I could have passed or not!

Can someone please put me out of my misery I multiplied the maintenance costs by each year of the figures given 0.9 and the rest can't remember what they were to give me a lower figure than I started with added all them together with the cost of the machinery and minused the sale proceeds amount?

Basically can some one answer whether the discounted amount is added or taken away from the total? Does it make the value greater or less? Confused.com:huh:
i did exactly the same:

Year 0 = 300,000
year 1 = 30,000 x disc factor
and so on then added them all up and my final amount was £390,700 did the same for the labour cost 105,000 x disc factor then added them all together to get the total saving over the life of the machine.
• Feels At Home Registered Posts: 56
...wish i'd spent a bit more time looking at the last question now - might have worked out something along those lines, but it was so scary looking, and my head was spinning so much already, i couldn't even face it and left. First time i've ever walked out an exam like that. Hope i don't regret it, would hate to have to do 3 exams next jume.
• Feels At Home Registered Posts: 25
I did it that way surely it is their mistake so they should mark both ways right. I have e-mailed to find out.
I think there was a mistake on the paper. I worked them out as Jan 12.10 anf feb 12.20but covered myself by saying that they could both be £12.00 if they were rounded to the nearest pound as seemed to be the case with the November results which were 11.90 and had been rounded to £12.00!!??
• Feels At Home Registered Posts: 66
I think we were asked to forecast. Forecast for November was £11.90 but when they asked for a price it was £12.00. In the end they bought a different product anyway costing £14.00. I think...............
• Feels At Home Registered Posts: 33
I completely agree, however GURU I complete VAT Returns on a regular basis and have done for the past 10 years but unfortunately I don't do discounted lifecycle costing. Now I've had time to think about the question it is a relativley simple calculation that we are probably all more than capable of.

VAT returns was just an example, obviously. I do neither, but what I do have to do in my job is be imaginative, resourceful and adapatable. So maybe I was at an advantage - my instinct is to always to go for stuff.
• Feels At Home Registered Posts: 33
lork wrote: »
Whilst I completely agree that we should be able to deal with previous material, surely this is the whole point of doing 'modular' exams, ie, learn a subject, sit an exam. I'm sure if students expected to be tested on absolutely anything learned over the past three years, we would all revise everything we've ever learned, rather than concentrate solely on the current unit. I still think it was unfair to throw it in at the end but I believe the same thing happened in June with gearing and interest cover ratios.

I agree with you that to open up the entire 3 year syllabus would put a great deal of strain on us - maybe that's why it's just one question being lobbed in here and there!

Having said that, maybe there should be a final exam - which could have some of anything in it. Obviously it would have a lower pass mark than the modular ones, but it would enable students to demonstrate to the AAT that they are fully rounded Accounting Technicians worthy of having those letters after their name....

Not a popular idea, that one, I imagine...!
• Well-Known Registered Posts: 145
Tracie wrote: »
I think there was a mistake on the paper. I worked them out as Jan 12.10 anf feb 12.20but covered myself by saying that they could both be £12.00 if they were rounded to the nearest pound as seemed to be the case with the November results which were 11.90 and had been rounded to £12.00!!??

That's exactly what I did - wrote the amounts of '£12 (rounded, but actual £12.xx)' so they've got both figures. I think we should be awarded the mark. (It'll be one of the few marks I do get!)
• Feels At Home Registered Posts: 41
Tracie wrote: »
I think there was a mistake on the paper. I worked them out as Jan 12.10 anf feb 12.20but covered myself by saying that they could both be £12.00 if they were rounded to the nearest pound as seemed to be the case with the November results which were 11.90 and had been rounded to £12.00!!??

Tracie,
I did exactly the same!
• Feels At Home Registered Posts: 97
Guru wrote: »
I agree with you that to open up the entire 3 year syllabus would put a great deal of strain on us - maybe that's why it's just one question being lobbed in here and there!

Having said that, maybe there should be a final exam - which could have some of anything in it. Obviously it would have a lower pass mark than the modular ones, but it would enable students to demonstrate to the AAT that they are fully rounded Accounting Technicians worthy of having those letters after their name....

Not a popular idea, that one, I imagine...!
Not a bad idea, Guru! At least it would encourage you to retain and consolidate all the knowledge. I think CIMA do something similar, in that you sit all the exams and then have to prove you've got experience in certain areas before they'll let you use the designated letters. Hopefully, if the AAT are planning this, it'll be long after I've qualified!

I think the bottom line is I'm annoyed at the AAT for the question, but also annoyed at myself for not remembering how to answer it properly!
• Feels At Home Registered Posts: 66
A good idea, I don't have any problem with that, and like I said I think it was quite a simple calculation. But they need to tell us, that's all!
• Settling In Nicely Registered Posts: 24
Pev - topic

What is the point of aat sending students Monthly magazine ? If an intended new topic are not highligted in the magazine to prepare students ahead. I read every Month magazines, now I feel there is no point in contining the custom.

It is not fair on some of the students who have completed intermediate level a year or two years ago to remember one of the topic studied under exams conditions. I put in a lots of effort to read PEV from page to page of the text books, study pack and past question papers. Section one is more like it. Sure to get all the answers right. It will be very sad to score all marks in section 1 then score low marks in section 2 because of question 2.2 and 2.3 to fail the whole subject again.
• Feels At Home Registered Posts: 35
Lizy wrote: »
What is the point of aat sending students Monthly magazine ? If an intended new topic are not highligted in the magazine to prepare students ahead. I read every Month magazines, now I feel there is no point in contining the custom.

It is not fair on some of the students who have completed intermediate level a year or two years ago to remember one of the topic studied under exams conditions. I put in a lots of effort to read PEV from page to page of the text books, study pack and past question papers. Section one is more like it. Sure to get all the answers right. It will be very sad to score all marks in section 1 then score low marks in section 2 because of question 2.2 and 2.3 to fail the whole subject again.

I know what you mean Lizy, I think that apart from the ratio's I only got bits of each question right in section 2.

Ive learnt now that it does not matter how much you study, they will always throw something in that your not quite sure of!!

I could have taken 2 weeks off work, studied day and night but i still wouldnt have looked at discounted cash flows!!
• Just Joined Registered Posts: 1
PEV exam - Question 2.3

I missed a lot of the classes this year due to ill health so had to rely on past papers and the text book for revision. When I saw question 2.3 I was well and truly stuffed!! I didn't recall seeing it anywhere. I asked my tutor afterwards who said it was a Unit 6 question. Why would I be answering a Unit 6 question in Unit 8??

Also, I did Intermediate in 2001, and I don't recall anything I did then!!

I think that I will now stop worrying about that last question as it looks like no one got the answer right!!

:confused1:
• Feels At Home Registered Posts: 40
Tracie wrote: »
I think there was a mistake on the paper. I worked them out as Jan 12.10 anf feb 12.20but covered myself by saying that they could both be £12.00 if they were rounded to the nearest pound as seemed to be the case with the November results which were 11.90 and had been rounded to £12.00!!??
Our tutor looked and said definite mistake, as should have said December. Her opinion is that it will have to be marked a few ways, and will make appeals easier, as similar mistake two years ago resulted in many re-issues of results in March going from Fail to Pass.
• New Member Registered Posts: 13
Found this quite tough but just a note on using the formula to find the price for Jan and Feb.
The question said the formula is used to predict the price so the formula came out with 11.90 and the actual price was 12 so pretty good prediction in my opinion. I just lobbed the figures in the formula.
• Well-Known Registered Posts: 121
guys 1 thing i dont understand is why they chacked in!! a factors (section 2)which we done back in intermediate ?????????? am i right cos i done it back last year, any one done it this year??????
• Feels At Home Registered Posts: 69
Section 2

I did many things in this exam quite ok i think! but i missed out the lifecycle question, 2.2a was it? I just did a table with the 5 years and a few figures, but didn't calculate anything, cos I wasn't sure how. I did b and c. Does anyone know if this will automatically fail me? I did the first part of Section 2 well I believe.
• Feels At Home Registered Posts: 97
Andrewh26 wrote: »
I did many things in this exam quite ok i think! but i missed out the lifecycle question, 2.2a was it? I just did a table with the 5 years and a few figures, but didn't calculate anything, cos I wasn't sure how. I did b and c. Does anyone know if this will automatically fail me? I did the first part of Section 2 well I believe.

I did the same thing, but the other way round - put some figures down (which I know are wrong) for a) and didn't do b) and c). I doubt it's an automatic fail (I hope it isn't!) as they'd have to judge it on the rest of the paper. I hope I've done enough on the rest of the paper to get a pass, since the rest of the questions were based on the unit I expected to be tested on, therefore revised.
• Settling In Nicely Registered Posts: 17
Staffz wrote: »
Our tutor looked and said definite mistake, as should have said December. Her opinion is that it will have to be marked a few ways, and will make appeals easier, as similar mistake two years ago resulted in many re-issues of results in March going from Fail to Pass.

I used the formula working from Novembers 12 and got Decembers period figure to make the formula work, thus I concluded that the following months figure is used.

ie To calculate January use February's figure and February use March's figure, so you were given January 30 and February 31, but needed to feed the formula the 31 and 32 to get January and February's figure.

Hopefully that makes sense. :huh: Though I don't know if it's what they were looking for :blushing:
• Feels At Home Registered Posts: 33
Well, for those that thought I was being harsh, read the Chief Assessor's Report - "unforgiveable", "basic tools"...