FSA Exam Changes - to wait or not to wait?

Hey all,
Quick introduction - I’m Paul, I work on the PAK Online Seminars for the Finance Track.

I wanted to start a thread to get some discussion on if people are planning to wait to Spring 2023 to take their next FSA exam to take advantage of the changes, or go ahead with the Fall 2022 exam?

I’ll give my two cents. I think everyone would benefit from taking the exam as soon as possible, for two main reasons.

  1. Any exam sitting skipped is an opportunity to pass that is missed. Why delay getting these exams over with??
  2. The first sitting after a restructure can be…weird. We don’t really know how much the exams will change, if the questions will change format, if they’ll want different answers, how much the syllabus will change, etc. It can be tough to be the guinea pig.

But I want to hear what everyone else thinks!

Hi Paul! I am admittedly on the QFI track and not CFE, but I’ll give you my thoughts anyways :stuck_out_tongue:

The restructure is not changing my plans at all: take the 2-hour exam this fall. If all goes well that will be my last exam, but even if I failed my spring 5-hour exam, I’ll move onto the 2-hour one and double back later. If anything the restructure helps with this second option, but that was the plan even before the announcement (driven by company support for exams/study hours, and needing a break as this spring was already my second attempt at that test).

I have not heard of any of my work friends (mostly ILA) planning to skip the fall sitting either. One person is doing the approach I mentioned above and the changes reinforced that choice - they want a shorter 2-hour exam rather than a longer 3-hour one. Otherwise I haven’t heard much about doing a 5-hour vs 2-hour exam this fall or the ERM exam for CERA (non-CFE track).

Personally, if I’d been considering the ERM exam these changes would turn me away from it in the Fall. If you fail, redoing it doesn’t get you closer to FSA.