Yes, 5 days to UFE day 1. Today I wrote my last practice case - smoked it, thank you very much (but it was very directed - do this, do this, do this, and do this). A good way to finish - I was getting a bit worried last week when nothing seemed to be going right. Now I just have to get through the real thing.
Tonight I go for a drink with my UFE mentor, and tomorrow and for the next 5 days I will cram into my head every piece of accounting and tax technical knowledge I can find. Those are the places I tend to fall down. Most of the evaluation guides say things like "a reasonable attempt" or "the discussion is reasonably accurate" or "contains few technical errors" so I think I'm okay. Still the more facts I have in my head, the more reasonable my response will be, and the better chance of getting through the three levels of evaluation.
The UFE is marked on levels of competency. Your basic goal is to hit Reaching Competence or Competent (i.e. "to score") a sufficient number of times, in the right places. Not addressed or Nominal Competence - not good enough. Highly competent - no better than Competent in terms of whether you pass, so don't bother going there.
Then these competencies are evaluated on three levels.
Level 1, did the candidate identify and competently respond to enough issues. Basically a % of available marks. But of course, no one knows what the % is that's required for passing.
Level 2, did the candidate achieve depth of discussion in Assurance and Performance Measurement (basically audit and accounting). Need to be awarded Competent on a minimum number of indicators in this group. You guessed it, no one knows what that minimum number is.
Level 3, did the candidate achieve breadth. Breadth means you have to have scored at least Reaching Competent a minimum number of times for each of the other technical areas - Finance, Tax, Information Technology, and Organizational Effectiveness.
I think I can manage Level 1 - I score on most competencies, and generally get a mix of Reaching and Competent. Of course I also get my share of Not addressed and Nominals, but these are few enough that I think I'll get through Level 1.
Same with Level 3 - I score pretty evenly across the board, often enough to get through this one.
Level 2 is the one that haunts me. Getting Competent on PM was a difficult task last week. I think I managed it once on one indicator from all 10 cases I practiced. This one has me worried.
Oh, how I can't wait just to get it written and get back to a normal life for a while.
Then the 10-week wait for marks begins.
Posted by Sarah at September 7, 2006 06:41 PMGood luck. I'll be thinking about you and keeping my fingers, toes and whatever else I can crossed!!!
Posted by: Uli at September 7, 2006 11:07 PM