CPA PEP Finance Elective exam-day guide
CPA PEP Finance Elective · Prepare for the day ahead.
Your checklist
Government-issued photo ID
Bring the original, unexpired ID that matches the name on your CPA PEP registration. Confirm with the provider which ID types are accepted for your delivery mode (in-person or remote-proctored), because rules can differ and a name mismatch can block admission.
Exam admission or confirmation details
Have your exam confirmation, candidate number, and any scheduling details accessible. For remote sittings, confirm with the provider whether a printed or on-screen confirmation is required and what identification the proctor will ask for.
CPA Canada Handbook access (if permitted)
The Finance elective is open-book in the sense that candidates are expected to use authoritative standards. Confirm with the provider exactly which resources are permitted (for example, CPA Canada Handbook – Accounting and Assurance, tax legislation, or finance reference materials) and in what format they may be accessed. Do not assume any resource is allowed.
Approved calculator
Bring a calculator that meets the provider's permitted-model rules. Confirm with the provider whether a specific model list applies and whether calculators are supplied or must be your own. Test the batteries and functions before exam day.
Computer and software readiness (remote sittings)
If writing remotely, run the provider's system check in advance, install any required secure browser or proctoring software, and confirm your camera, microphone, and internet connection work. Confirm with the provider the minimum technical requirements and the procedure if you disconnect during the exam.
Quiet, private writing space
For remote sittings, arrange a room with a closed door, adequate lighting, and no interruptions. Confirm with the provider what is allowed on the desk and whether a room scan will be required at check-in.
Time-management plan for the case(s)
Prepare a written allocation of minutes per case and per required (for example, reading, planning, writing, and review). The Finance elective uses case-based assessment, so practicing a timing plan under exam conditions is more useful than last-minute content review.
Formula and concept summary sheet
Create a one- or two-page summary of key finance formulas and frameworks (time value of money, capital budgeting, cost of capital, valuation, risk and return, and working capital) for quick reference. Confirm with the provider whether any personal notes are permitted in the exam room; if not, use the sheet only for study.
Backup power and connectivity plan
For remote sittings, charge devices, have a phone hotspot or backup connection ready, and know the provider's technical-support contact. Confirm with the provider how to report a technical failure and what accommodation, if any, is available.
Rest, food, and hydration plan
Plan sleep, meals, and water for the day before and the morning of the exam. Confirm with the provider the rules on food and drink in the exam room, including for in-person versus remote sittings.
Review of the provider's exam-day instructions
Read the current candidate examination instructions and the Finance elective blueprint or competency map. Confirm with the provider the exact exam format, number of cases, time allowed, and any permitted materials, because these details can change between offerings.
Emergency contact and provider support number
Save the provider's candidate support contact and your module workshop leader or CPA regional office contact. Confirm with the provider the correct number to call for exam-day issues, not a general inquiry line.
Plan the day
Switch from learning new content to consolidating what you already know. Review your formula sheet and case-planning templates, and do one timed practice case under exam-like conditions. Identify two or three weak technical areas and review only those, rather than attempting to cover everything. Check that your ID, calculator, and any permitted resources are in order, and confirm with the provider the exam start time, reporting time, and location or remote check-in procedure.
Do a second timed practice case focused on the Finance elective's common required types, such as valuation, capital budgeting, financing decisions, and risk analysis. Review the CPA Canada Handbook sections or finance references you plan to use, and practice navigating them quickly, since open-book access is only useful if you can find material under time pressure. Confirm with the provider which resources are permitted and in what format.
Stop heavy studying by early evening. Do a light review of your summary sheet and timing plan, prepare your bag or workspace (ID, calculator, confirmation, permitted references, water), and run the remote system check again if applicable. Set two alarms, confirm your travel route or quiet-room setup, and aim for a full night's sleep. Avoid discussing the exam with others late in the day, as it tends to increase anxiety without improving performance.
Eat a normal meal and arrive or log in early, allowing extra time for check-in, ID verification, and any room scan. Do not attempt to learn new technical content; instead, reread your timing plan and one or two case-planning templates. Confirm with the provider the latest time you may check in and what happens if you are late.
Read the case requirements before the narrative so you know what the marker is looking for. Allocate time explicitly, note the requireds, and plan a brief outline for each response. If multiple cases are presented, confirm the order and time budget before starting to write.
Use a consistent structure: identify the issue, apply the relevant finance concept or calculation, and conclude with a recommendation. Show calculations clearly, because method marks are often available even when the final number is wrong. Watch the clock against your allocation and move on when a required is consuming disproportionate time.
Reserve time to check that every required has a response, that calculations are legible, and that conclusions are stated. Ensure your answers are saved or submitted according to the provider's procedure. If a technical issue occurs, follow the provider's instructions and document what happened.
Rules to check
Bring the original government-issued photo ID that matches your registration name. Confirm with the provider which ID types are accepted and what to do if your name has changed; candidates without acceptable ID may be denied entry.
Follow the provider's rules on permitted materials. The Finance elective is case-based and may allow specific references such as the CPA Canada Handbook or tax legislation, but the exact list and format can change. Confirm with the provider before the exam rather than assuming any resource is allowed.
Use only a permitted calculator and device. Confirm with the provider whether a specific calculator model list applies, whether programmable or communicating devices are prohibited, and whether any supplied equipment must be used.
For remote sittings, follow proctor instructions on room scans, camera and microphone use, and what may be on the desk. Confirm with the provider the consequences of an interruption, and report technical failures immediately through the official support channel.
Breaks are governed by the provider's exam rules. Confirm with the provider whether breaks are permitted, whether the clock stops, and what supervision applies, because unauthorized breaks may be treated as a conduct issue.
Scoring is based on the provider's competency framework and case rubric, not on word count alone. Address every required, show your reasoning and calculations, and state conclusions. Confirm with the provider how the Finance elective is weighted and marked.
Maintain academic integrity. Do not communicate with others about the exam content during the sitting, do not share or receive unauthorized assistance, and do not reproduce exam material afterward. Confirm with the provider the specific conduct rules and reporting obligations.
Arrive or check in by the stated time. Confirm with the provider the reporting time, late-admission policy, and what happens if you miss check-in, since late candidates may not be admitted or may lose exam time.