From study technique to time off -- how to prepare for your FAE exams

Getting ready for your FAE exams can be overwhelming, but it doesn’t have to be. Ross Duffy, Tax Associate at PwC, delves into the study routine that earned him second place in the 2021 FAE summer exams. 

Before joining PwC, I completed UCD’s Master of Accounting programme so when it came to my FAE exams, I was well used to studying technical content and how it could be applied in practical setting. 

At FAE level, however, you need to get to grips with how to apply your technical knowledge in a commercial scenario. 

In the study technique I adopted for the FAE exams, I took the theory I was learning and tried to apply it to real world business scenarios, always with an eye to the commercial considerations that should be front-of-mind when advising clients. 

Choosing study material

It’s essential to develop a strong understanding of the underlying content that will be assessed in the exams. Starting out, I studied all of the relevant manuals and textbooks, and reviewed lecture notes and slides. 

Once I had a good grasp of the basics, I felt more confident attempting case studies and, over time, I was able to use them exclusively for study. I also practised with previous exam papers.

Applying the technical FAE content to real-life commercial scenarios can make a big difference to your exam result. 

I would also recommend keeping up-to-date with current affairs and business developments by taking ten minutes at the end of every day to read some of Ireland’s key media reports.

PwC supports its students by providing training programs and workshops and, for me, they were a tremendous resource used in conjunction with the Institute’s  online lectures. 

Routine and planning

There is more to doing well in your exams than just learning the material. You have to give yourself enough time to study and practice case studies. Good time management is crucial so you can enjoy yourself while balancing work and study. 

Routine is critical here. While many firms will give you ample time to prepare for the exams, you will have a large volume of examinable content to get your head around. 
Get into the habit of waking up early enough to prepare for the day ahead. Block off specific times to review your notes, practice your exam technique on previous papers, and work through case studies. Repeating this routine every day of study leave will help you cover all the necessary material in time for the exams.

Pacing yourself

It is a long road to the exams, so it’s important to remember that it’s a marathon, not a sprint. Make time for yourself outside work and study. Not only will this help relax your mind, but it will also mean you get the most out of the time you spend preparing for the exams. 

Don’t be afraid to reach out to friends and colleagues to talk through any issues or challenges that might arise. Sharing knowledge and insights can really help to prepare you for the exams and connect you with others going through the same experience. 

Taking a step back

Finally, remember that feeling anxious before any exam is par for the course. For me, working while studying meant I was always very busy and sometimes felt the pressure.
That’s why it is so important to keep things in perspective. If the nerves set in, take a step back and remember that you are not the first to sit these exams and won’t be the last. Reach out and lean on your family, friends and colleagues when you need it and use their support to help drive you through.