Ouch, ouch, ouch, ouch, OUCH!
Not only did my prediction about Day 2 & 3 come true. But my prediction regarding passing Day 1 was wrong.
So I got the worse case sceario: failed both parts of the CFE. :'(
Here's what happened to me:
I received two documents from CPA, one simply saying:
Day 1 - Fail. <-- Thanks a lot CPA, this really helped me see where I went wrong! ..... *sarcasm*
The other saying:
Day 2&3.
Level 1
Sufficiency: Fail
Decile Ranking: 5 <-- basically this means I'm in the top 50%. From what I've read: If you had a decile ranking of 1 then you're in the top 10% which means you may want to appeal but there's a 1% chance of changing your sufficiency mark if you have a Decile Ranking of 1, so basically it's like throwing money away.
Level 2
Overall Pass
Depth in F/R - Pass
Depth in MA - Fail
Level 3
Depth in Role Pass
Level 4
Breadth in all 6 roles Pass
So the positive is: I'm smart enough to have passed a bunch of important stuff: I passed my role and F/R for day 2. But not MA... Crrrap. And I passed breadth in all areas. <-- I really didn't think I would have done that but I guess so. And then the decile ranking I'm pretty sure is due to my crap performance on Day 3... I was so unfamiliar with the scenarios they gave me!!!!
I think it's REALLY important to be working at an accounting firm while you're studying. Everyone who was working in my Capstone 1 group passed the CFE. I didn't work, and I didn't do well. I still remember my friend coming up to me after we wrote day 3 and she said: Oh my god, if I didn't have that experience doing taxes I would have been so screwed! But it went really well I think. My response: -_- ............I wish I worked more doing taxes for people and giving strategic advice to people!
I might appeal Day 1. I thought I did really well. But they thought I sucked bad enough to fail... Really pooped...
I'm very tempted to quit the program. But I have a feeling I won't. At the bare minimum, I'd need to renew my student registration (600 bux) and then purchase admission to the exam (1500 bux)...
if I get any of those PAR (Performance Analysis Review) reports, it'll increase the cost but it may be worth it!
I gotta go. Ttyl peeps! And stay positive :) Stress is the root of all evil and it's 90% self induced ;) a fake yet enlightening statistic from yours truly.
