"De-Monetisation" of Students Continues!!!

Good Morning all:) It's been long since I have written a blog. But never too late to share something very very important.
17 January 2016-CA Final Results announced- I FAILED.
17 January 2017-CA Final Results announced - I FAILED again but with an Exemption in one subject (Law)! Wondering what's an exemption? If you score 60 and above in any of the subjects you are exempted from writing that paper again. Was I happy with my result? Third attempt and still couldn't clear my papers. Am I failure? Am I weak student? Am I that foolish that I can't be among the 7% pass students? The answer is a big "NO".
Coming to my exam preparations - Neither I could study for 20 hours a day nor did I even intend to do that.  But my aim was to study smart and not hard. Attended the fast track courses, revised almost everything as this was the third time I'm studying and remained calm before my exams. Then comes the exam time and the first paper - FINANCIAL REPORTING (Layman's language - Accounting). You prepare the subject well but what comes in the paper? Your given a solution and asked to prepare the Question😂 The one of the simplest chapters called "Gross Value Added" Statement is a unique chapter as it is very useful at workplace. But Alas can we expect anything good from the paper setters? They prepare the Gross Value Added statement and ask you to prepare the Profit and Loss Account. So basically they gave the answer and asked to prepare the question. Why aren't we then allowed to prepare the question paper itself. I wanted to highlight this to make people understand the mindset of the people who set the papers.
Coming to the other papers of the first group which had Strategic Financial Management, Audit and Law and as usual you get unexpected questions. But most sad part of the two theory papers of Audit and law is that you are asked to answer nearly 20 to 25 questions in a matter of three hours. So approximately you have 7 to 8 mins for each answer. The question then arises that how much to write in 7 to 8mins? Will the evaluator be happy with one page answer for a 4 mark question? Unfortunately the answer is again a BIG NO. The evaluators believe quantity is more important than quality. We are trained to write nearly 2 to 3 sides of a paper for a 6 mark question. It nearly takes 20 to 25 Mins to write one question of 16 marks with 4 subdivisions of 4 marks and even the 4 subdivisions will have 2 questions each. How can the institute expect the students to complete the paper?  There are exceptions as there are rankers and toppers who do exceeding well. But 70%of the students come from different backgrounds where they might not have a tuition teacher to train or enough money to afford the tuition classes. Does the institute empathize with these students? Why don't they conduct a mock drill with  already qualified Chartered Accountants and make them write the same paper and then see whether they can complete the paper or not.
Now coming to the big question - Are INDIANS so weak that only 11% can pass or crack the Chartered Accountancy Final exam? The answer is NO NO NO NO. The institute came out with a notification saying they have the powers to reduce or increase the marks of the students at their own will. So now we have a Dictator in a Democratic country and people are still obsessed with Modi. The real Dictator is here who play around with the hard work of students. For students it's a matter of life and death as the career depends  upon these results. But for the evaluators it's a matter of money as they earn on each paper they correct.  We attend tuition classes where the tuition teachers themselves, who are qualified Chartered Accountants,  criticise the correction of the papers. I was shocked when we were told that our papers might not even be corrected by Chartered Accountants but may be corrected by the students working in the CA Firm and pursuing their B.Com. I was shocked to hear that marks are deducted and increased by some evaluators on the instructions by the institute. So who is then correcting our  papers?  Agree that the INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA(ICAI) is one of the most powerful institutes in the country but can they be allowed to play around with a life of even a single student?  I was proud to be associated with the ICAI but now I doubt the credibility of this institution. I am not saying this because I couldn't clear my exam. Even if I cleared I would have written this because it's important to make people understand that people who failed aren't less clever than those who passed or even for that matter those who topped the exam. 
However one question always arises is - Is this all a Scam?  Where there is money there is bound to be a scam.  Now why am I saying this?  Let me give a situation.
For attempting the Final Exam we have to pay exam fees. Its approximately  Rs3000 for both the groups and Rs 1700 for one group. Nearly 100000 students give exam every attempt i.e. nearly 2,00,000 students give the exam every year as there are 2 attempts every year. Out of the 2 Lakh students nearly a lakh students attempt both the groups and other lakh students attempt one group each. So if we calculate the exam fees that the institute collects is nearly Rs47 crores (1Lakh*3000 and 1 Lakh *1700)all over India. Out of the 2 Lakh people if we take the pass percentage to be at an average of 20% i.e. Around 40,000 students might clear the exams.  The rest 1.6Lakh people will again attempt the exam next year with many other new students also giving their first attempt and again the amount charged as exam fees might increase too. So imagine the amount involved here and wonder why the pass percentage is so less even when offices and industries are facing shortage of CA's. The irony is that the CPT which is the first level of CA has an increasing trend of pass percentage. The recent pass percent has been 46%. Now again money involved here. To register for IPCC (after CPT) again registration fees involved and students have to mandatory attend some ITT courses (Computer classes) organised by institute and that too not once but twice and each time it costs around 4K to 5K per student. So more the student pass CPT more the students enter the IPCC and more money comes in.
Paisa Paisa Paisa-"Sab Kuch Paise ka Khel hain."
I am never going to lose hope and will try to crack the CA exam which is bloody not the toughest exam at all. The corrections make you feel pathetic but the exams are very much passable. I am here not to criticise CA but to just make aware to others of how this method of failing and passing works and why many hard working students aren't able to clear after being brilliant at their work place and being more capable then qualified Chartered accountants too. I always have support of my family and friends but unfortunately I also have some who never want me to succeed. But I rest my case in front of God who shall decide when and how I clear my exam. Till then to all of you- Have a great year ahead and chose your career carefully as there is no looking back once your at the top of the ladder:)
Disclaimer - The above written figures are an estimation and not an attempt by the writer to defame the prestigious institution. It is the right of the writer in his individual capacity to express an opinion as Constitution of India gives every Indian a right to express.