Please share your experience with these exams. Unexpected questions, most difficult topics, etc.
CPA PEP Prep Q&A
March 2017 CPA Ontario PEP exams - share experience
Re: March 2017 CPA Ontario PEP exams - share experience
by Michelle Yu 
- 1 Apr 2017, 6:11 PM
Wrote Core 1. There was a handful of tax topics (CCA, reconciling accounting income to NIFTP, sale of shares vs assets theory, tax credits, etc). The case had a personal tax component this time compared to the past where it was FR+valuation or FR+Audit memo.
The MCQ were pretty specific and can be tricky. It was mainly application heavy where they gave a specific scenario. In the Core 1 prep webinar, Mike was spot on regarding picking the best answer. A mixture of many topics with at least one Q per topic. I can give more information if needed. I see there's a CPA PEP Q+A session coming soon so I don't mind.
This is just what I saw personally but a lot of peers in the modules were unhappy over the topics not covered there. More so the ones who only had a few days to prepare had to rely on MCQ quizzes and PC from there. And they felt deceived by the gap between the mods and actual exam. I am aware this is due to independence reasons.
One question that got to me was the investment income that could be eligible for ABI. Saw another one on CGU impairment loss calculation. Case had something on insurance cost recovery in relation to PPE.