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Qfa 6

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2

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    #32
    insurancehead
    Closed Accounts Posts: 5 ✭insurancehead


    Hi all,

    Just catching up on this and I will add my rant to this. I felt I studied fairly hard on this (like alot of people I got to know at the tutorials which may make the results (i fear) harder to take and try and motivate to re-sit. I have been on hols for a few weeks so only sent in my feedback this am...I am not sure what the resolution will be here as I feel alot of us are in the same boat going by this forum and the reaction of people in the IMI on the day...people were noticibly in shock, I thought....anyhow we will see how it goes, results due next Monday...any other updates from anyone....:confused::confused:..


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    #33
    Heybabyy
    Closed Accounts Posts: 4 ✭Heybabyy


    I spoke to one friend and he says the reason for delaying the result is "money making business" by intentionally creating circumstances for candidate to fail the exam. It works like this way - unless you know the result of previous exams, you are not going to register for new ones/resits. If they declare the result by end June, it will be first week of july the time you register for resit/new exams. Add another 8-10 days to get course material. The exams are held in first fortnight of September. This will give you only 6 weeks to prepare for the new exams and chances are that you will fail again.

    I know the what the way around is ;):):D........


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    #34
    insurancehead
    Closed Accounts Posts: 5 ✭insurancehead


    hey baybyy....please do tell;):cool::D


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    #35
    black8
    Closed Accounts Posts: 1 ✭black8


    Heybabyy did you ever think that maybe your friend is an idiot? You really should be trying to pass these exams first time and not be waiting for results to find out how much the resits are goin to cost you. And you have to do all 6 in the end anyway so it doesnt really matter what order you do them in, besides the last one, so you should just apply to do the exams you want in September well before you get the results from the exams in May.


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    #36
    Heybabyy
    Closed Accounts Posts: 4 ✭Heybabyy


    Appreciate your intelligence and agree that in the end one has to pass in all. But unfortunately the resit are done on same day as other exams.

    This means if you book a new one and unluckily fail in other one (but discovered that after you have already booked a new one due to late arrival of results) - it could be a mess giving 2 exams on same day.

    For example if I book today the module "Investment" with exam due on 13th Sept (PM) and 2 weeks from now the result says that I failed in "Loans", the resit of Loans fall on 13th Sept (AM) as well.

    The issue here is that delaying the results give lesser time
    - to individuals to prepare for resits.
    - to decide which ones to book.

    The exams are not difficult but they just require a bit of cramming the whole book word by word like a school kid.
    Don't know why people take 2 years to clear them.

    Why the IOB can't just organise the test in prometric centres and one may give whenever one wants (and get result straightaway). This is the way most top level certifications are done. But yes, the way QFA is organised is typical Irish - computerised way of checking answer sheets and still taking 6-8 weeks for results, absolutely ridiculous........:mad:


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    #37
    Mr. Bob
    Closed Accounts Posts: 3 ✭Mr. Bob


    Well, we will all find out Monday what sort of resolution the LIA etc come up with. But I wouldn't hold my breath.
    Chances are, most people won't be happy with what they have to say.

    I wonder though, will they come back with a group resolution i.e. everybody can sit it again at no charge etc, or on an individual basis. So far, everything has been done on a group wide basis. Same e-mails to everyone and so on.

    There probably just gonna come back and say well, we reviewed your result and took into account Question 2 & 3 and unfortuneatly you still failed!

    Lets hope the LIA stands up for their members and that being a member is not just for the books and so on. Lets hope they flex a bit of muscle and show what their made off!! As I said earlier, don't hold your breath!!!!!!


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    #38
    insurancehead
    Closed Accounts Posts: 5 ✭insurancehead


    yeah ...monday could be interesting...while I have little sympathy for the LIA as they consistently seem to get things wrong....massive delays in issuing books...invoicing confusions....anyhow...they have got themselves into a right mess with the Fin Planning and if people do not pass and I fear many of us will not and based on the numbers in Griffith College in May there are many hundreds from all the sits across the country in the same boat for Monday...there will be fun and games!!!!! and not the good type!!!!!:eek::eek::eek:


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    #39
    C-Bear
    Closed Accounts Posts: 3 ✭C-Bear


    Hey folks..... Have been following your comments about the exam. Good luck to everyone tomorrow. Please god the LIA have the good sense to mark these papers fairly or I feel they will have a riot on their hands.

    The last I heard was from one of the correctors who is a broker. He had corrected 60 papers when I spoke to him and not one person had passed. I am pressuming because of the low pass rates that they would have to change the structure so we might have a miracle yet :eek:

    Anyway keep up the PMA (positive mental attitude and all that !!)

    Best of luck and let us know how you all get on

    xxx


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    #40
    C-Bear
    Closed Accounts Posts: 3 ✭C-Bear


    P.s.....

    Does anyone know what time they are releasing the results tomorrow?
    Apparently they post them on the web site now instead of mailing them out.

    Thanks........


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    #41
    insurancehead
    Closed Accounts Posts: 5 ✭insurancehead


    ............not a very promising statistic 0 out of 60.........good luck to everyone tomorrow.......... and do not take this personally but I hope I do not see you all in Sept!!!!!:D:D:D..no idea when out tomorrow...yep i believe it will be on LIA website.....


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    #42
    Hester
    Closed Accounts Posts: 172 ✭✭Hester


    Good luck to everyone getting results tomorrow :eek:

    C-Bear - I was able to get previous results on the website first thing when I got into work, so around 9-9.30. Hopefully will be the same tomorrow, they've kept us waiting long enough!


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    #43
    insurancehead
    Closed Accounts Posts: 5 ✭insurancehead


    ....the results are through on the website......:cool:


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    #44
    Waynecarr
    Closed Accounts Posts: 104 ✭✭Waynecarr


    Got my results, passed with a very high mark ??? I suspect they are only using the first question. I'll not complain anymore though :)


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    #45
    C-Bear
    Closed Accounts Posts: 3 ✭C-Bear


    Hey..... Me too, passed with a very high mark.....

    I had to check it again and again cos i thought i was seeing things!!

    How did everyone else get on?


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    #46
    sungem
    Registered Users Posts: 54 ✭✭sungem


    Happy Days..... Passed too! Again a high mark, must have been marked on question one... but hey who is complaining!!!! :):)


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    #47
    Hester
    Closed Accounts Posts: 172 ✭✭Hester


    I passed too! :) Such a relief, I was sure I'd be repeating in Sept.


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    #48
    compsys
    Registered Users Posts: 1,069 ✭✭✭compsys


    This topic is so old I know but I was wondering what anyone thought of today's exam. Also, what's the pass rate for QFA Financial Planning? Should really know that I know!


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    #49
    jellylegz
    Closed Accounts Posts: 9 ✭jellylegz


    compsys wrote: »
    This topic is so old I know but I was wondering what anyone thought of today's exam. Also, what's the pass rate for QFA Financial Planning? Should really know that I know!

    Hi Compsys
    I didnt think it was too bad compared to past papers, very surprised there was no calculation question or nothing really asked about pensions. The pass mark is now 50%, it was reduced from 60% from 2010 onwards. Really hope I pass, would hate to have to face into it again!! I think the results take 6-8 weeks


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    #50
    compsys
    Registered Users Posts: 1,069 ✭✭✭compsys


    jellylegz wrote: »
    Hi Compsys
    I didnt think it was too bad compared to past papers, very surprised there was no calculation question or nothing really asked about pensions. The pass mark is now 50%, it was reduced from 60% from 2010 onwards. Really hope I pass, would hate to have to face into it again!! I think the results take 6-8 weeks

    Yeah, it was only after I'd finished the exam and arrived home that I thought, 'did I even use a calculator or have to figure out a single sum for that exam'? Couldn't believe it. Seems very strange.

    I thought that the exam seemed pretty fair compared to other years as well. I think they've moved away from asking very specific questions on pension and taxation rates, formulae and rules etc, to asking more general questions that try to get students to show their understanding and concept of the overall financial planning process. That still doesn't mean I was able to answer all of the questions though! For the written exam I really think they should provide at least a small bit of choice for students.

    I still thought the pass mark was 60%. 50% actually seems quite fair. I knew they'd reduced the pass mark for the other QFAs, but that was because they'd also brought in negative marking at the same time. But 50%? If I didn't at least scrape 50% I think I'd be quite surprised...


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    #51
    jellylegz
    Closed Accounts Posts: 9 ✭jellylegz


    Yea it's definitely 50%. Our lecturer at the seminars told us that they had to change the pass mark for all QFA exams to 50% because UCD now award the diploma and the pass mark for exams in UCD is 50% so LIA/IOB had to reduce the pass mark in line with this. He also told us that he marks papers & they havn't been told that there's any change in the marking scheme for financial planning unlike the MCQ exams, where they brought in negative marking.


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    #52
    compsys
    Registered Users Posts: 1,069 ✭✭✭compsys


    Well cheers for the info. Fingers crossed it's a pass for both of us!


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    #53
    Mary34
    Registered Users Posts: 8 ✭Mary34


    Hi,

    Just wondering can anyone help am doing the QFA exam this saturday and have the old manual 08/09 as i am repeating, am trying to get the up todate deposit rates and off-shore rates etc, have looked on the revenue site but might aswell be looking into space, can anyone help??


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    #54
    stepbar
    Closed Accounts Posts: 6,123 ✭✭✭stepbar


    Mary34 wrote: »
    am trying to get the up todate deposit rates and off-shore rates etc, have looked on the revenue site but might aswell be looking into space, can anyone help??

    Why would you need specific rates? :confused:


    The Financial Planning QFA is a load of sh1te truth be told. Far to much bullsh1te in there. I'm finding myself getting very annoyed with it all. With 3 days to go, I'm not sure if I'm going to pass or not.


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    #55
    gogo
    Registered Users Posts: 1,452 ✭✭✭gogo


    Mary34 wrote: »
    Hi,

    Just wondering can anyone help am doing the QFA exam this saturday and have the old manual 08/09 as i am repeating, am trying to get the up todate deposit rates and off-shore rates etc, have looked on the revenue site but might aswell be looking into space, can anyone help??


    +1 re specific rates, you dont need them. If you are repeating the exams through IOB, you will find a copy of the upto date manuals under 'seminar notes' in the student centre online.
    Sitting here printing it off as I type, costing me a fortune in ink, the QFA is nothing but a money racket!


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    #56
    sungem
    Registered Users Posts: 54 ✭✭sungem


    the only rates you will need specific to deposits is that dirt tax is now 25% and exit tax on an investment that interest is rolled (not paid yearly eg bond) is 28%, hope that helps.....


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    #57
    Alfie2
    Closed Accounts Posts: 2 ✭Alfie2


    The exam is very difficult, unless you work in that area. It was my third attempt on saturday.

    I have to say there are three questions I am struggling to find the answer to in the book, I know 10% of the exam is based on the other 5 books, but saturdays exam had more than the 10% directed at questions outside of the book.

    How are you meant to pass when the exam board dont stick to the guidelines.

    Anyway best of luck to anyone who sat this exam saturday. Has anybody any views on this exam?


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    #58
    CRabbit
    Registered Users Posts: 3 ✭CRabbit


    It was my first time sitting Financial Planning on Saturday, and I have to say I got the fright of my life when I saw the paper! Question 1 was ok, but I really struggled on the other two questions. I thought I knew the course pretty well until I saw that paper! I really think I will be lucky to pass it. It's very difficult when almost anything from the other 5 modules can come up - how are you supposed to remember everything!

    I'm just going to have to pray for a miracle I think :)


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    #59
    Alfie2
    Closed Accounts Posts: 2 ✭Alfie2


    You know if there was enough people to complain in writing about the unfairness of the paper that was presented on Saturday the board would have to relook at the questions and marks. If they passed over the 10% mark they have broke a major rule. Something similiar happened about 2 years ago and they had to assess the entire paper based on question one.

    I know the liquidity question relates to chapter 8/9, but there is no mention of the liquidity reason in the FP Book. Also the question relation to mortgage relief is definitly not in my book. Sept 09 edition and its not in the updates!. :eek:


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    #60
    CRabbit
    Registered Users Posts: 3 ✭CRabbit


    Yeah I though the question on interest relief was very unfair, definitely not something that is in the Financial Planning book. And the fact that it was worth 15 marks was very unfair also. Apart from that though I think most of the topics that came up were covered in the FP book, I just didn't know some of them very well :( So I'm not sure we'd have a leg to stand on if we complained!!


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    #61
    Whelo
    Registered Users Posts: 4 ✭Whelo


    I too sat the exam for the first time on Sat. I was certainly caught off guard with the interest relief question but I feel enough marks could be made elsewhere to at least pass. This question only represented 15 marks, i.e 10%

    The majority of the exam was based on the Financial Planing manual. In relation to the liquidity question, anyone with a business background be it college wise or work wise should have known what it meant regardless of which of the 6 manuals it came from. Its a well known banking term at the end of the day! I for one would not want financial advise from someone who struggled with an understanding of the term - liquidity!!:confused:


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