UFE Results – How to survive failure Part 2

A week has officially passed since the day of your dreaded results, and by now, the reality has sunk in.
You may still be feeling bitter and angry and hate the world or you feel hopeless and tired, and scared.

Regardless, Even 1 week post results, It is ok to feel like Shit. I can only imagine how hard the first week back at work would be for you.

People asking you, “How do you feel?” and “Are you OK?”

People purposely avoiding you, and not wanting to socialize. IT really does SUCK.

This is why failing the UFE is so bad:

1) It must be one of the only tests in the world where studying the second time is harder than studying for the first. I say this because, in order to study for the UFE, you need to practice, and in order to practice, you need cases. And unfortunately, like most UFE writers, you would have done the 2006-2009 Cases + the 2010 one that you failed. And in order to get more cases, you need to get a prep program, and you will need to Pay or Pirate.

2) You get fired. There are some small firms that literally fire you if you fail the UFE. Most big 4 firms are more considerate and offer a one-strike policy. But failing the UFE is a big deal. For those of you who are commenting that failing the UFE is not a big deal, it is a bigger deal than you think. This must be one of the only exams in the world where failure leads to a loss of a job. This isn’t a University exam where you can write it next semester with no repercussions. Everybody’s situation is different, but losing a job or being at risk of losing a job is terrible. Big 4 Firms have fired All star performers at work... for the sole reason that they failed the UFE. This is a huge confidence shock.

3) Big 4 Firms offer very little support for repeat writers. Big 4 firms do everything to help first time writers pass. But if you fail and are a repeat writer, you have to do everything on your own. You have to pay for the UFE again, you have to pay for prep courses out of your own pocket, you have to pay for diagnostic reports out of your pocket, and the firm forces you to take time off work to study in August and September with no paid UFE leave like if you are a first time writer. The opportunity cost of failing the UFE can be greater than $5,000 not to mention emotional and physical stress.

4) Failing the UFE can destroy friendships and relationships. For the first time in your life, you may feel yourself not wanting to hang out with friends for the sole reason that they all passed and you didn’t, and you feel like you no longer belong. I have seen friendships destroyed because of failing the UFE, where a person no longer wanted to be part of their social group.

. I want all you failed UFE candidates to do these things and remember these things:

Do:
1) Forget UFE for a while. Its Christmas time. Spend time with the people who love and care about you. As hard as it is to not be bitter around your friends who passed UFE, remember, they are still your friends, and when you do pass, which you will, they will party it up with you.

Remember:

1) For someone who writes the UFE four times, there is a >98% pass rate. I’m not saying that you will write the UFE four times, but the probability of failing this test four times is close to zero. For second time writers, “P(Passing|Failed 1st attempt) >90%”.

I’m not going to turn this blog post into something positive and how you guys should cheer up with a bunch of constructive advice. It’s still way too early. I just wanted to bring one Do and Remember element for each of follow up blog posts. I’m sure thousands of others have already told you guys that failing the UFE is not the end of the world. But trust me, it will feel that way for a long time. You guys are still hurting, and it is ok to feel deep and dark inside.

The accountant’s friend
Successful UFE candidate – 2nd attempt