Sorry guys – this was supposed to be published last week but there seemed to be a nasty UFE-hating bug that got in the way. Without further delay, here you go:
As mentioned the other day, scoring works differently and the pass/fail determination is different on the UFE. I said that you need to demonstrate both depth and breadth in order to pass the UFE. I also mentioned that secondary indicators are worth zero, except in certain rare circumstances. Today we explain.
The UFE is marked using the Level 1-3 system. Where your response is marked for three different things.
Level 1 – Your overall score
Like SOA, Level 1 takes your overall score and compares it to other scores (an average of some kind). If you fall below the cutoff you will not pass and if you are above the cutoff that’s great but you aren’t out of the woods yet. Your response will be examined at Level 2.
Your goal, therefore, is to score your overall UFE score above the cutoff to pass this.
Most people (something like 98% last time it was disclosed) fail at Level 1. Keep this in mind when you are worrying unnecessarily about Level 2 and 3.
Level 2 – Demonstrate Depth
This level applies to PMR and Assurance ONLY.
This level requires that you demonstrate enough depth on enough PMR and Assurance indicators. What does depth mean? The number of Competent (C-level) responses you give on primary indicators. Therefore if you score only RC on all PMR indicators you will not pass at Level 2. Even if you score all Cs in Assurance. Nervous now? Well don’t be, look up at the bold text right above 🙂
How many Cs do you need to achieve in order to demonstrate depth? It’s not disclosed but rumours have it that it’s two or three. This may sound like a lot to some but again, read the bold text above!
Alright, so you’re having a good day, you’ve survived the Level 1 cutoff and you’ve got enough Cs in PMR and Assurance. Can you walk away with that coveted UFE Success letter? No, you’ve got one last hoop to jump through.
Level 3 – Demonstrate Breadth
This level applies to GSRM, Finance, MDM and Taxation ONLY.
You must score sufficiently on all four of the above indicators in order to be successful at Level 3. What does sufficiently mean? It means you have to score RC enough times on each of the competency areas above.
Again, we don’t know how many RCs that means but I suspect it’s one each. Once again, if you’re starting to get nervous, I’ll remind you that something like 98% of people fail (when disclosed) at Level 1.
Level 3 Faint Hope Clause
Finally, we come to the secret behind secondary indicators. Under one very rare circumstance, you can pass the UFE because of a secondary indicator where you would have failed otherwise.
If you fail on Level 3 above, and in one of the primary indicators (for example Tax) you did not score any RCs BUT you managed to score Competent (C) on a Tax secondary indicator you will pass.
I’ll remind you that secondary indicators are otherwise worthless. I don’t recommend ever wasting your time on them but as a good UFE Blogger it’s my responsibility to inform you about this.
And that’s how scoring on the UFE works.
The Key Takeaways:
- Score well enough overall (PQs included here)
- Get enough Cs in both Assurance and PM
- Get enough RCs in Tax, MDM, Finance and GSRM
- Don’t bother with Secondary indicators