With an average first-time pass rate of only about 40%, the difficulty level in the DIPIFR / SBR Exam is obvious. We believe that the first-time pass rate could be higher if candidates were more careful.
Seven common mistakes that many candidates make are
- Failure to identify the verbs in the exam question
- Error in judgement in using either excel or word to answer your questions
- Syllabus breadth in IFRS- The DIPIFR exams test you for the degree of knowledge. Many students ignore some of the easy IFRS standards, which invariably carry at least 25 marks on the paper
- Failure to develop proficiency with the CBE exam software. We recommend students practice on the software for at least 8-10 papers
- Lack of an exam strategy (e.g., time allocation per mark).
- Consolidation bias - As Finance professionals, we love to get the balance sheet tallied, and we end up spending too much time on consolidation, leaving little for other easy questions
- Scattergun approach - When students are unsure of the answer, they write something hoping the examiner will give them marks somewhere. This approach will only reduce the examiner's will to examine your answers
- Failure to proofread and edit before submission of the paper
Students can read our blog on 3 tips on how to score heavy for the DIPIFR Exams
These mistakes are not mutually exclusive. Candidates may commit to one or more of the above items. Every time you reduce the number of common errors; you increase your chances of successfully clearing the ACCA SBR / ACCA DIPIFR Exam