Hi I am planning to write my CFE in May 2025 and confused about which role to pick for day 2, I saw you video on TH-cam related to CFE, Could you please advise on the result of day 2 & 3 at level 3 as If CPA passed the student based on how each student performed on their respective role or they compare all the role together. for example if they decide to pass 70% of the top performing students. In that case CPA assesses all the students together irrespective of their respective role or they choose all the top performing students in their respective role Thank you
You don't want to take Day 2 Audit if you never did audit before. You will be pooled in with the other audit public accountants and they do it on a daily basis. The exams are curved, so you would be at a huge disadvantage.
For Level 2, you say you need to achieve 3-5 C's in FR or MA? Does this mean you need that many C's for both FR and MA? For example, I am confident I achieved enough C's for FR, but I am worried if I achieved enough for MA.
It's FR "or" MA, so only in one of them. If you got 3-5 Cs in FR only, you're still good for Level 2. MA won't be a problem for Level 2. It may hurt your Level 1 and 4, but these are based on all AOs in the exam.
Good question, it varies from CFE to CFE based on candidate performance. It also depends on the Day and area. For example, in your role in D2, if you get 2 NCs and 5 Cs, you would pass, assuming you did great in other areas. In Day 3, you can get 2-3 NCs, and it's passable, as long as they are not all from the same competency (ie, if 3 NCs are in Tax, and there are only 3 Tax AOs, that's fail at Level 4). Bottom line, avoid NCs in D2, allowed few (eg 2-3) in D3 but in different areas only.
@@GevorgCPA Thank you very much, I really enjoy your videos. Just to confirm, the example you gave is D2 and D3 combined as you described ? Or a good D2 and the described D3 and vice-versa ?
@@GevorgCPA My bad :), I mean, do Cs contribute more than RCs in Level 1, something like 1 C can maybe replace 2 CRs? In the example: D2: 2NCs + 5Cs in the role and good rate in other areas. + D3: 2 to 3 NCs (in different competencies) and a good rate in other areas. Would you pass level 1 (based on the other factors you explained)?
Hi. You mentioned if we don't clear Day 1, you automatically fails CFE Day 2&3, can you please clarify this as I know someone who failed day 1 but passed day 2&3. Thanks
Day 1 and Days 2/3 are graded separately. If you fail Day 1, you fail just Day 1, you can pass Days 2/3 without it. However if you fail Day 2 or Day 3, you automatically fail both Days 2/3 together.
@@GevorgCPA ahhh ok - thank you! for Day 2 however, i noticed a subtle AO... one that wants a discussion of Conflict of Interest ("Enabling Skills" AO) - which id never have caught if i did not read the solution are there times in Day 2 where you can miss a subtle AO like that totally? or do we reallyyy need to make sure that NEVER can happen for us? thank you!
@@yandhi4202 yes it was the case from 2017. Happened only once but lesson learned that you have to watch for it. For Sep 2021 CFE watch for data analytics questions.
Hi I am planning to write my CFE in May 2025 and confused about which role to pick for day 2, I saw you video on TH-cam related to CFE, Could you please advise on the result of day 2 & 3 at level 3 as If CPA passed the student based on how each student performed on their respective role or they compare all the role together. for example if they decide to pass 70% of the top performing students.
In that case CPA assesses all the students together irrespective of their respective role or they choose all the top performing students in their respective role Thank you
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I prefer Assurance and PM. Can i get a license with thise?
Great video! Wondering what or if any study materials we can bring to CFE exams.
None, you can't even bring a pen. Google CFE exam regulations.
You don't want to take Day 2 Audit if you never did audit before. You will be pooled in with the other audit public accountants and they do it on a daily basis. The exams are curved, so you would be at a huge disadvantage.
For Level 2, you say you need to achieve 3-5 C's in FR or MA?
Does this mean you need that many C's for both FR and MA?
For example, I am confident I achieved enough C's for FR, but I am worried if I achieved enough for MA.
It's FR "or" MA, so only in one of them. If you got 3-5 Cs in FR only, you're still good for Level 2. MA won't be a problem for Level 2. It may hurt your Level 1 and 4, but these are based on all AOs in the exam.
How many "Not Adressed"+"Not competent" do you think are acceptable in total to pass Level 1 for days 2 and 3 ?
Good question, it varies from CFE to CFE based on candidate performance. It also depends on the Day and area. For example, in your role in D2, if you get 2 NCs and 5 Cs, you would pass, assuming you did great in other areas. In Day 3, you can get 2-3 NCs, and it's passable, as long as they are not all from the same competency (ie, if 3 NCs are in Tax, and there are only 3 Tax AOs, that's fail at Level 4). Bottom line, avoid NCs in D2, allowed few (eg 2-3) in D3 but in different areas only.
@@GevorgCPA Thank you very much, I really enjoy your videos. Just to confirm, the example you gave is D2 and D3 combined as you described ? Or a good D2 and the described D3 and vice-versa ?
@@willbruno2333 Sorry not clear about your question. In all cases, Days 2 and 3 are graded together. My example was for both days.
@@GevorgCPA My bad :), I mean, do Cs contribute more than RCs in Level 1, something like 1 C can maybe replace 2 CRs?
In the example:
D2: 2NCs + 5Cs in the role and good rate in other areas.
+
D3: 2 to 3 NCs (in different competencies) and a good rate in other areas.
Would you pass level 1 (based on the other factors you explained)?
@@willbruno2333 That's right, Cs do count more. 1 C is like 2 RCs. With D2 2 NCs + 5Cs and only 2-3 NCs in D3 you should be able to clear Level 1.
Hi. You mentioned if we don't clear Day 1, you automatically fails CFE Day 2&3, can you please clarify this as I know someone who failed day 1 but passed day 2&3. Thanks
Day 1 and Days 2/3 are graded separately. If you fail Day 1, you fail just Day 1, you can pass Days 2/3 without it. However if you fail Day 2 or Day 3, you automatically fail both Days 2/3 together.
For level 4, you mean that if among the 3 day 3 cases, you get RC twice for tax, you cleared tax? level 4 seems easy
You got it. Just don't skip (or bomb) any AOs and you'll be fine.
@@GevorgCPA ahhh ok - thank you!
for Day 2 however, i noticed a subtle AO... one that wants a discussion of Conflict of Interest ("Enabling Skills" AO) - which id never have caught if i did not read the solution
are there times in Day 2 where you can miss a subtle AO like that totally? or do we reallyyy need to make sure that NEVER can happen for us? thank you!
@@yandhi4202 yes it was the case from 2017. Happened only once but lesson learned that you have to watch for it. For Sep 2021 CFE watch for data analytics questions.
@@GevorgCPA oo good point! thank you!!
@@GevorgCPA can you give an example of a data analytic question please?
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