PSFR June 2017
The pass rate is significantly below that of previous sittings and is also significantly below that of the subject prior to candidates sitting their exams online.
Answers to the exam highlighted that many candidates were not able to complete basic, non-sector specific financial accounting adjustments, or able to demonstrate the level of evaluation and application of knowledge expected of a diploma level exam. There are two additional factor identified in the analysis:
- June 17 exam did not include a 15 mark question covering local government financial statements. Many students tend to focus their revision in this area and perhaps this explains in part why the pass rate is so low this sitting.
- Students who hold exemptions from other financial exams achieved a pass rate of 33.3% compared to non-relevant undergraduates of 83.3%. NB. The highest scoring candidate in the June 2017 exam holds exemptions from the two preceding financial accounting and reporting modules.
In order to assist candidates, we have released the June 2017 exam questions from the live exam question bank and asked the examiner to provide guidance on how to best approach PSFR exam questions. Please see the webinars below for further detail.