The R01 paper requires candidates to have a broad understanding of financial services, regulation, and ethics. It is this breadth of understanding that can make it a tricky paper to crack. Whilst not the most exciting title, this exam should not be underestimated. National pass rates in 2020 were 69%. So around one third of candidates that sit the R01 paper don’t pass.
The feedback BTS regularly receive from candidates who have attempted the R01 paper and not achieved a pass (before they come to us) includes:
– The exam was a lot harder than they were expecting.
– The questions they had practised on in the lead-up to their exam were easier and not as wordy, convoluted or confusing as their exam experience.
– Areas were examined that were not covered in the study guide or other materials (and yes, there is a long reading list suggested by the CII as well!).
So how can BTS help candidates?