Unsuccessful Results for May 2024 CFE: What to Do Next

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The May 2024 Common Final Exam (CFE) results were released on Friday, August 16, 2024. To check your CFE results, access the National Certification Centre website: https://www.certificationenterprise.net/CPAcp/cpLogin.aspx

When logging in for the first time, your user ID and password will be your 7-digit CPA ID number beginning with 4. Your password will be your email address. You will be requested to change your password when entering.

If you are unsuccessful, here are the next steps and answers to frequently asked questions.

Why was I unsuccessful?

There are different reasons. You may have struggled with technicals, time management, or efficient case writing. The first step is to look at your detailed transcript to see what Level you failed.

For Days 2/3:

  • Level 1 sufficiency: This is driven by both Days 2 and 3, with more emphasis on Day 3. Failing Level 1 means you didn’t achieve C and RC enough in your cases.
    • Decile ranking: Decile ranking is for Level 1 only. It shows how close you were from passing. For example, decile 1-3 means you were close to passing, while decile 8-10 means you were far. If you passed Level 1, you will not see decile ranking. Decile ranking is not available for Level 2, 3, or 4, nor Day 1 of the CFE.
  • Level 2 depth in FR/MA: This is driven by both Days 2 and 3, with more emphasis on Day 2. You didn’t achieve enough Cs in FR or MA.
  • Level 3 depth in role:  This is driven by Day 2 only. You didn’t achieve enough Cs in your role (PM, Assurance, Finance or Tax).
  • Level 4 breadth: This is driven by both Days 2 and 3, with more emphasis on Day 3. You didn’t achieve enough Cs or RC in all competencies (for example, you may have scored NC in all Tax or Finance AOs).

For Day 1:

  • You will see only pass/fail assessment with no details in the transcript.
  • You will also receive a free Automatic Feedback Report (AFR). This report will tell you why you didn’t pass. It’s going to be uploaded to the same portal where you download the transcript (Certification Portal), 2 weeks after results date. You should download and review it. This report is free.

Should I ask for re-mark (appeal)?

No, I don’t recommend asking for re-mark. The chances of success are less than 3%. Below is a screenshot from Sep 2022 and May 2023 re-mark results released by CPA Canada:

Should I get PAR report?

It depends on your situation. PAR provides a breakdown of each case, with comments on your performance. It takes several months to receive the PAR report and it is costly. I wrote a detailed post and description of an example PAR here, please check it out.

Am I allowed to write immediately after in September 2024 CFE?

Yes, students who need to re-write the CFE don’t have to wait until next May, you can write in September 2024 CFE.  This is a smart move as you can register for the Sep 2024 CFE, then defer to 2025 if you don’t feel you’re ready closer to the September exam day.

Should I write September 2024 or May 2025 CFE?

If you’re only re-writing Days 2/3 of the CFE, I suggest doing it back-to-back while your technical knowledge and case writing skills are still fresh. However, make sure you can take time off, identify your weaknesses, and get tutoring first.

If you only need to re-write Day 1, keep in mind that the Day 1 case will be different in September 2024. Because of this, many candidates will prefer to wait and write in September 2025. However, learning a new Day 1 case, practicing, and getting ready doesn’t take much time. All Day 1 cases are similar in terms of AOs and formatting, so I still recommend writing in September 2024 while the knowledge is fresh.

If you need to re-write all three days of the CFE, it might be better to wait until next May 2025 since there’s a lot of content to review and learn. But if you can take 3 weeks off, your results show that you were close to passing, and you have access to study resources like tutors, extra cases, and marking services, you could still consider writing in September 2024.

Waiting until next year is good idea for students who are busy with work, can’t take time off, didn’t pass at multiple levels, didn’t pass all days of the CFE, or lack extra support resources.

Will there be CFEs in 2025?

Yes there will be CFEs in 2025. CPA Canada has announced that it will discontinue the current education program and introduce the New Certification Program in 2027. It was initially scheduled for 2025, but it has been postponed to 2027 now. 

 

What Day 1 cases are in September 2024, May 2025 and September 2025 CFEs?

For the September 2024 CFE, the following Day 1 cases:

  • JR Pets (JRP) v2
  • Amuzu Parks Inc. (API) v1

For the May 2025 CFE, the following Day 1 cases:

  • Neptune Point Fisheries Inc. (NPF) v2
  • New case TBD

For the September 2025 CFE, the following Day 1 cases:

  • Amuzu Parks Inc. (API) v2
  • New case TBD

When should I start studying again?

This depends what CFE Days you are writing and which exam sitting you will be re-taking:

  • Re-writing in September 2024:
    • You will have only 3.5 weeks to prepare, so it’s important that you start studying right away. I recommend to take the entire time off, if you can, to focus 100% on studies.
  • Re-writing in May 2025:
    • CFE Days 1,2,3 re-write: Start studying from November.
    • CFE Days 2, 3 re-write: Start studying from January.
    • CFE Day 1 re-write: Start studying from March.
  • Re-writing in September 2025:
    • CFE Days 1,2,3 re-write: Start studying from April.
    • CFE Days 2, 3 re-write: Start studying from May.
    • CFE Day 1 re-write: Start studying from June.

I suggest studying technicals ahead of time, whenever you can, so that you don’t get rusty and keep your technicals fresh. If you are working in the public practice and you’ll be busy in winter, you should start your studies sooner, in October-November.

What should be my study plan as an experienced CFE writer?

This depends on what CFE Days you are re-writing. Here is an effective plan to follow:

  • Step 1: Review technicals, especially the areas you you didn’t do well based on the transcript.
  • Step 2: Make personal summary notes, flashcards, computer notes
  • Step 3: Re-do cases from your electives (especially if you didn’t clear Level 3)
  • Step 4: Write cases. If you’ve written all Capstone 2 (past CFE) cases then get supplemental CFE cases.
  • Step 5: Get your cases marked.
  • Step 6: Get a study partner, study resources, or sign up for a coaching program.

Where can I get more study resources (tutoring, coaching, personalized support)?

There are several options available to you:

  • Tutors: CPA tutors provide 1-on-1 help by connecting with you virtually (eg Zoom) or meeting in person. Their level of expertise varies and it’s important that you find a tutor that fits your needs. CPA Canada publishes a list of tutors which you can request by contacting your provincial CPA school. The tutoring fees are normally $60-$80 per hour.
  • Supplemental cases: Writing more cases will help to broaden your technical and improve your time management skills. You can obtain supplemental CFE cases here. The price range is $60-$97.
  • Coaching programs: CPA exam coaching programs provide supplemental materials and connect you with subject-matter experts who work with you to understand your weaknesses and help you achieve better exam performance. Coaching program fees vary and it’s important that you find a program that’s effective.

What’s Gevorg and what’s different about your CFE coaching program?

My name is Gevorg, I offer a personalized CFE coaching program that’s based on Honour Roll strategies. My candidates achieve overall 90%+ pass rate and several graduate with distinction. Here’s a quick comparison.

Features Gevorg, CPA CFE course Other providers
Case marking
Access until you pass
Supplemental cases
Day 1 case marking*
Flexible marking schedule
Live coaching sessions*
Free access to CPA SpeedType™ time management and case typing training tool
Free 1-on-1 coaching
Clever memory aids
Engaging video lessons
Honour Roll student technical interviews
Private WhatsApp group for support
T2202 issued to use as tax credits*
CPA PER coaching program discounts
Featured in national news
Affordable

*Some but not all CFE coaching providers offer Day 1 marking and live sessions. Some providers offer 1-on-1 coaching through mentors or instructors who may not be subject-matter experts. T2202 certification is not issued by all providers. The information in this table is based on the information made available on competitor websites.

What does your CFE coaching program offer?

I offer a CFE coaching program that teaches technicals, case writing skills and proven strategies towards the CFE. The CFE Review provides the following learning materials:

  • ​​New CFE practice cases with solutions and feedback guides (six Day 3 cases, one Day 1 case)
  • Dedicated Day 1 prep course with marking
  • Marking of two (2) Day 1, one (1) Day 2 and three (3) Day 3 case (total of 6 cases marked)
  • Weekly live tutoring sessions
  • Case writing walkthroughs
  • Case outlining templates
  • Quantitative analysis templates
  • Time management methods
  • Memory aids
  • Technical study notes
  • 8-hours of engaging video lessons
  • Historical CFE data
  • Supplemental practice drills (including DAIS)
  • Study plan for the CFE
  • Case checklist
  • Technical review checklist

You’ll also get free one-on-one coaching with me. You get access to the course materials immediately and you keep access until you pass, no matter how long it takes.

Do you mark extra cases?

Yes, my CFE program includes 6 case marking and I can mark extra cases if needed. 

Conclusion

I know failing the CFE is demotivating. It doesn’t mean you’re not smart or unable to succeed, it means you need a new strategy. Take some time think about your options and decide what you will do differently next time. If you feel CFE Review is the right coaching program for you, you can watch preview lessons here.