Business Planning: Banking
3 Top Tips for BPB
April 26, 2021
Here are a few tips for the BPB paper:
1. Prepare for a credit application question in Question 2 but don't assume it will come up!
Students tend to love credit application questions because they are very standard in nature and you can reuse ideas from the available model answers (but make sure you tailor your points to the specific question set!). Many students prefer this style of question to a more unexpected type of Question 2.
We recommend that you prepare thoroughly for this kind of question as it is a golden opportunity to score a lot of marks and you would be annoyed if it comes up and you have not prepared enough ... but never assume that it has to come up as Question 2 as the examiners are aware that students like this kind of question!
The examiners are also likely to put a twist into this kind of question so that it is not just the same as the Question Bank examples so be careful.
2. Master auditing
This is the key to a good score in Q1, which is kind of a "make or break" question, given the marks available. And you can reuse your auditing skills in CR at the Advanced Level (although you won't just be auditing financial instruments in CR!).
The examiners know that candidates are using the Question Bank examples to generate audit risks and tests so be careful if you use this approach ... but at the same time it would be kind of crazy to ignore this rich source of ideas! As always, it is a balancing act between using your open book resources and making your answer look as though you did not use them!
At the 2021 ICAEW Tutor Conference, the examiners confirmed that there will normally be 1 or 2 marks available per audit risk - candidates must include some elaboration and links to the specific data to get both marks on offer.
3. Covid-19 and Brexit
The examiners confirmed at the 2021 ICAEW Tutor Conference that neither of these topics will be a central focus in the 2021 examinations so whilst a brief comment may be appropriate in some cases, don't go crazy and certainly don't spend any time before the examination preparing anything too detailed or clever on this area!
We hope this is helpful. As a final point, the examiners hinted at the 2021 ICAEW Tutor Conference that use of the live data analytics software may be coming to BPB in 2022 or 2023 (but definitely not this year!). So this is even more of a reason to get the exam done and out of the way this year! Good luck!