Guide on How to Secure an Exemption in CA Examination?

Table of Content

1. Choose the Subject of Absolute Confidence

2. Attempting to score an exemption in a Theory Paper

3. Attempting to score an exemption in a Practical Paper

4. One should Attempt the Entire Paper i.e., 116 marks

5. Extensive Coverage of Syllabus

6. Holding the Nerve at the Time of Exam

7. Importance of Remaining Subjects

8. It’s Not 60 – Its Just 50

9. Writing Exams before Final Exam can bring Good Results in Scoring Exemptions

10. The Five-Hour Rule for Success

Conclusion

Securing exemption in any of the papers is a dream come true moment for many students in CA Examinations. Getting an exemption simply means attaining not less than 60 marks in any CA paper. Exemption in a paper lends a protective cushion to the students from the “aggregate” risk, which means that even if they fail one or more tests, their grades will be carried over to the next three attempts, and they will not have to re-appear for those papers. In simple words, they get exempted from re-appearing in the eligible papers.

Let’s illustrate this with a simple scenario –

For instance, a student obtains 62 and 68 marks in two of the group papers yet fails to clear the Group (comprising 4 papers). So, in his next attempt, how much should he/ she get in the remaining papers in order to ensure that he/ she passes the examination?

The answer to this question is that in order to maintain a minimum aggregate of 50%, he/she must score at least 70 (200 – 130) marks in the next two papers. However, with an additional criteria that mandates securing 40% marks in each individual subject, securing 70 marks in totality will not work. Hence, in order to be declared passed in that Group, he/she must obtain a minimum of 40 marks in each of the remaining two papers.

The logical rationale behind the exemption looks complicated as well as enticing. Every student gets tempted and desires to cross the threshold limit, by making it a priority. If one would take a survey of sample students, maximum students will reply affirmatively in favour of getting an exemption. It is thus, indeed a significant achievement.

Now, that its significance is established, a question may trouble one’s mind: How can one gain an exemption in a particular subject?

Here are some pointers that will aid a student seeking an exemption in a specific subject.

1. Choose the Subject of Absolute Confidence

One must choose a subject that interests him/her, whether it is theoretical or practical. One must have complete faith in oneself on securing at least 60 marks, even if the paper is difficult.

2. Attempting to score an exemption in a Theory Paper

One can easily score well in theory subjects if the following points are taken care of-

• • One must adopt a comprehensive approach while preparing for examinations and never opt a selective approach as it limits the coverage of course.
  • Clarification of concepts is of utmost importance. Merely memorising the theoretical topics without proper understanding of the same won’t pave the way to success.
  • Habit of note-making besides each topic, would serve a long way in recalling the key points in the long run especially while revision of the course and during examination.
  • One must refer Institute’s solutions to the past years question papers, in order to understand the writing pattern expected by the candidate appearing in the examination.
  • Highlighting the key words in the answer sheet helps one draw the attention of examiner to the important information in the text, thus, making it an easier task to review the answer apart from making the presentation look appealing.
  • Always answer precisely and accurately and never cook stories as it won’t fetch any extra marks. It would also aid one to complete the whole paper within the stipulated time.
  • Maximise the usage of technical terms in the answer.
  • Write in points rather than paragraphs. It assists the examiner to check the knowledge of the student at a glance.
  • Cite relevant Case Laws/ Provisions/ Sections in the answer sheet wherever possible. (Always highlight/ underline the same as it will attract the attention of the examiner.)

3. Attempting to score an exemption in a Practical Paper

Practical papers are definitely scoring if one proceeds in an organized pattern from the very beginning. Enumerated are certain points to follow to attain exemption in practical papers:

• • Conceptual Clarity – Mere practice without clarity of concepts won’t serve the purpose. One may solve 100 sums from various books without understanding the concept, there are chances that he/ she won’t be able to solve the 101^th sum, due to lack of conceptual clarity.
  • Practice is the key to attain a good score especially in the practical papers in CA examinations. It helps you attain presentation skills as well as time management as time is the key factor during the exam.
  • Working Notes/ Steps/ Explanation form a vital part of the answer in practical papers and hence, should form part of the answer wherever required in order to explain the examiner, the steps followed to derive an answer. Otherwise, one might lose out on marks.
  • Revision and retention of concepts go hand in hand while preparation. In practical subjects one must try to make handy notes which include formulae, concepts etc. so that the same can be revised/ brushed up anytime, even during small study breaks of 5-10 minutes, which will help in retaining them for a longer period of time.

4. One should Attempt the Entire Paper i.e., 116 marks

It is very crucial to attempt all the questions with 90% precision and accuracy. The chances of exemption are usually directly proportional to the number of marks one attempts for. However, managing time is the most critical thing when one aims to attempt the paper in its entirety. Further, there is no negative marking at Intermediate and Final Levels for any wrong answers attempted.

5. Extensive Coverage of Syllabus

One must decide not to neglect any chapters, i.e., no chapters should be skipped from preparation. One should give equal weightage to all the topics, regardless of the fact that it carries minimal marks. However, he/she can always set an order of priority, which enables to extensively cover the important areas. But disregarding a topic completely is not advisable while appearing for a holistic exam like CA. Even as a matter of fact, it is necessary to even prepare for MCQs, which can fetch you additional handy marks (30% weightage) while consuming the least amount of time.

6. Holding the Nerve at the Time of Exam

During the first 15 minutes before the exam, decide which questions should be attempted first. The order of questions should be determined by the level of confidence one has in answering that specific question. One must not misjudge or hastily decide the questions for the sake of saving 2-3 minutes, because any mistake in the selection process can set him/her back from achieving the goal of exemption. One must thus, remain cautious and introspect well arriving at a decision.

7. Importance of Remaining Subjects

When one gives high importance to a particular subject with a goal to score an exemption, he/ she must also realize the equal importance of scoring 40 marks (pass marks) in the remaining papers. Aiming for two exemptions in a single group will yield one effective results. Concentrating on other subjects may also help if one is not able to score well in that particular aimed subject.

8. It’s Not 60 – Its Just 50

If one gets nearly 50% in the entire paper – that is, 50% of 116 – he/she can easily get an exemption. Yes, a single read fact worth half of the paper will qualify one for an exemption. It’s never 60 percent of the time. It only accounts for half of the total marks (including choice).

9. Writing Exams before Final Exam can bring Good Results in Scoring Exemptions

One must decide to appear for the practice tests for each chapter, as well as MTPs, RTPs, and previous year’s papers. Before the exam, ICAI offers a series of mock tests. Taking one of these tests (available on the BoS Knowledge Portal at www.icai.org) and assessing the performance is recommended. As a result, one will have a firm grasp on the subject and will be able to attempt 116 marks with complete confidence, as well as manage time and pressure, as he/she shall now be familiar with test conditions prior to the final exam.

10. The Five-Hour Rule for Success

Business leaders viz Bill Gates, Jack Ma, Elon Musk, etc. use this secret weapon – the five-hour rule to achieve success in everything they do. The concept focuses on increasing one’s knowledge through one hour of deliberate learning a day, for five days a week. With knowledge comes power, so it’s not surprising many of the top business leaders also invest in the five-hour rule.

A student must inculcate the habit of extra reading apart from the regular course material, which will aid one in getting an edge over the other students in such a competitive scenario along with scoring well in the examinations. Some of the following sources can be referred to by the students to enhance their knowledge on a consistent basis:

• • ICAI Students Journal
  • Newspapers – Economic Times, Business Line, etc.
  • Annual Reports of various Listed Companies
  • Business Magazines – Corporate Professionals Today, Outlook, Forbes India, Inc. India, etc.
  • Online subscription to receive regular updates in taxation and other laws – Taxmann, Income tax reports issued by Income-tax Department, etc.

Conclusion

Thus, following all the guidelines above can reap the benefits and certainly make it possible for a student to clear all the levels of the course with exemptions in major subjects, provided he/ she is focused with consistency and dedication being the keys.