EXAM INFORMATION

AND MARK
ALLOCATIONS
SEMESTER 2, 2020
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Contents
Semester 2, 2020 ............................................................................................................................................ 0
About this document .................................................................................................................................... 2
Your exam question types ........................................................................................................................... 2
Guidelines to answering extended-response questions .............................................................................. 3
Summary .................................................................................................................................................. 4
Open book exams........................................................................................................................................ 4
Table of instruction words used in exam questions ..................................................................................... 5
Exam structure and mark allocations .......................................................................................................... 6
2 | Exam Information and Mark Allocations

About this document

This document provides some information about exam structure and mark allocations.

Your exam question types

There are different types of exam questions, all of which are based on the content contained within the
Study Guide. The objectives of both multiple-choice and extended-response questions are to assess your
knowledge and understanding of concepts and models in the subject, your ability to apply these
concepts and models to a set of case facts, and your ability to analyse and to evaluate information from a
set of case facts.

There are two categories of multiple-choice questions: (i) Multiple Choice Questions – Single Option and
(ii) Multiple Choice Questions – Multiple Options.

1. Multiple-choice questions – Single Option

In the Single Option category, questions will be presented with multiple choices of which only ONE single
option is correct. For the subjects Ethics and Governance, Financial Reporting and Financial Risk
Management, this is the only category of multiple-choice questions in the exam.

2. Multiple-choice questions – Multiple Options

A new addition to Semester 2 2020, exams for Strategic Management Accounting, Global Strategy and
Leadership, Advanced Audit and Assurance, Australia Taxation, Australia Taxation – Advanced and
Contemporary Business Issues, will include both Single Option and Multiple Option Multiple choice
questions. There will be one Multiple Option question in these exams which is worth one mark.

In the Multiple Options category, one question will be presented with multiple choices of which the correct
answer comprises more than one option. That is, to obtain the correct answer, you will need to select ALL
the correct options that apply.

The Study Essentials webinar (28 July) and Exam Preparation webinar will guide candidates through the
requirements of this new question type.

Instructional text within the exam will make is clear when candidates are presented with this new question
type and this new question type will also be in a separate section of the exam.

Table of Multiple-choice question types for exams

Question type Multiple Choice Multiple Choice Questions –

Questions – Single Multiple Options
Option
Ethics and Governance Yes N/A

Financial Reporting Yes N/A

Financial Risk Management Yes N/A

Strategic Management Accounting Yes Yes – One question in this format.

Global Strategy and Leadership Yes Yes – One question in this format.

Advanced Audit and Assurance Yes Yes – One question in this format.

Australia Taxation Yes Yes – One question in this format.

Australia Taxation – Advanced Yes Yes – One question in this format.

Contemporary Business Issues Yes Yes – One question in this format.

Refer to mark allocation section of document for Singapore Taxation exam.

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3. Extended-response questions

These questions require you to provide written responses. Your answers will need to demonstrate clearly
that you have achieved the objectives above.

For those candidates enrolled in the Financial Reporting and Strategic Management Accounting exams,
you are required to type some numerical responses to questions into a spreadsheet.

Guidelines to answering extended-response questions

This section provides guidelines to assist you in answering extended-response exam questions.

• Allow sufficient time to answer all the questions

In preparation for your exam you must consider how you will allocate your time to the questions. In
this document, under 'Exam structure and mark allocations', you can find some information about
the structure of the exams.

The exams will also provide suggested time allocations, which you should review as soon as you
commence your exam to help you with your time management during the exam.

You should attempt all questions. No marks are deducted for incorrect responses.

• Read the questions carefully to gain a clear understanding of what is expected in your
answers

One of the most important tips for the exam is to read the question and make sure you understand
what you are required to do. You should take the time to read the question a second time to
ensure you understand the requirements.

The question will include an important ‘instruction word’ that tells you what you need to do. You
need to identify this critical instruction word as it will guide you in what you must do and how to
approach the question. The ‘Table of instruction words’ in this document lists some of the most
commonly used instruction words and their meanings—you should be familiar with these words
and what they require you to do.

Check if the question only requires a given number of points. If it does, provide only this number of
points. For example, if you are asked to explain two items but you explain more than two, only your
first two items will be marked.

Constructing your answer:

Use acronym RACE
Restate/reword: Use the specific vocabulary from the question to turn the question into a
statement
Answer the question by showing how/why
Cite specific details/evidence from the text
Explain how the evidence supports your answer.

• Keep to the point

Marks are awarded for the content of your answer. Your response should include sufficient
detail to cover the relevant issues and clearly answer the question. Marks will not be awarded
for quoting sections of the Study Guide, for repeating the question or for providing information
that is not related to answering the question.
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• Use a clear layout for your answers

Consider using headings and sub-headings.

You may wish to present your answer in point form where this will sufficiently answer the
question.

• Use a logical structure in your answer. Consider the issues involved, apply them to the facts
of the case and arrive at a conclusion.

In constructing your answers, it would be useful to prepare an outline for your answers to
focus your thoughts. Clearly state why you think the issue is relevant, substantiating your
argument with evidence such as figures, tables and case facts. Remember that a
generalised answer on related matters will not receive any marks.
A coherent, logical structure for your answers makes your arguments clear to the examiner.
You should have a well-articulated argument with supporting evidence to demonstrate your
understanding of the issues and arrive at a conclusion.
It is most important to fully explain your response and your reasoning using concepts and
models, and not simply copy case facts from the relevant case.
Marks are not deducted for incorrect answers.

Summary
Before you start composing your answer to the question:
• Make sure you fully understand the requirements of the question
• Plan your arguments through to their conclusion before beginning your answer
• Review your case analysis to identify the relevant concepts and models in answering the
question When answering the question, remember that a well-written question will:
• Not repeat the question nor use superfluous introductions
• Answer the question by using the relevant concepts and models from the study material,
applying them to the case facts, and undertake any necessary analysis
• Present a convincing and in-depth analysis of the issues to support your conclusion
• Clearly identify the important points and analyse them insightfully
• Provide compelling evidence in the form of figures, tables and case facts to support
the arguments put forward
• Show a logical and coherent organisation of ideas
• Demonstrate good written communication skills including syntax structure, precise
vocabulary and grammar and
• Provide a clear statement of the conclusion reached.

Open book exams

All CPA Program subjects are open book exams except for Singapore Taxation. Open book exams do not
mean you don’t need to study the content or copy straight from the Study Guide. You need to apply the
knowledge you’ve acquired and be able to find, interpret and apply the relevant information in your source
materials to the exam questions.

Be familiar with the materials that you’re taking into the exam. The exam is not the place to be hunting
through materials.
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Table of instruction words used in exam questions

Term Definition Example

Break case facts down into parts. Identify and discuss

Analyse relationships between parts, methodically and logically. Analyse case facts
Provide supporting arguments - discuss the implications

Apply the Boston Consulting

Apply Use a tool or model to analyse the case facts
Group matrix

Calculate Use the case facts to determine a numerical value Calculate the profit margin

Classify Arrange information into categories Classify the financial instruments as…

Objectively describe how things are similar, providing case

Compare the strategies of X Ltd and Y
Compare facts to support your comparison, this will typically be phrased
Ltd
as ‘compare and contrast’

Objectively describe how things are different, providing case

Contrast the strategies of X Ltd and Y
Contrast facts to support your comparison, this will typically be
Ltd
phrased as ‘compare and contrast’

Give details of characteristics, features, processes, etc. Describe the characteristics of a

Describe
Provide a detailed explanation financial asset

Identify and discuss the relevant positive and negative Evaluate the effectiveness of X
aspects from the case facts to illustrate your argument. Ltd.’s performance measurement
Evaluate This will typically be combined with other terms, e.g. system
evaluate and recommend

Draw the answer from the case facts, this may be combined Identify two strengths and two
Identify
with other terms, e.g. analyse and identify weaknesses

Provide facts and reasons to support an argument or

Justify conclusion, will typically be used in conjunction with ‘justify Justify your response
your recommendation’

Prepare Construct something in an agreed format Prepare a statement of cash flows

Recommend Identify the best course of action and provide reasons to Recommend a project management
support your judgement approach

Provide a concise explanation, focusing on the main facts

Summarise Summarise the key points
and relevant details
 6 | Exam Information and Mark Allocations

Exam structure and mark allocations

The following may be useful in planning how you will manage your time in the exam*.

Multiple-choice Total
Subject Extended Response number
(1 mark per question) of marks

Advanced Audit and

90 N/A 90
Assurance

Australia Taxation 50 10 marks 60

Australia Taxation -
53 12 marks 65
Advanced

Contemporary
75 N/A 75
Business Issues

Ethics and Governance 63 12 marks 75

18 marks
Financial Reporting 42 60

Financial Risk
70 N/A 70
Management

68
Global Strategy and
12 marks 80
Leadership

Singapore Taxation N/A comprises case studies totalling 100 marks 100

Strategic Management 22 marks

52 74
Accounting

*Subject to change.