7-Canada vs 7-US

[AaronBeh]

I was wondering if 7-Canada was considered more difficult

A.) in general

and

B.) for US residents who have no current knowledge of Canadian accounting/government

I am thinking of sitting for it when it comes time, but I want to know if I am making things considerably more difficult for myself.

Thank you,
-Aaron

[AFroginBritain]

Even if I never tried the 7US, I would think the 7C it is more difficult in General. There is less consistency in the level of the papers than any other exam I sat. Some of them are particularly poorly written or there only to fill gaps in the syllabus. For a US resident without specific knowledge of Canadian accounting/regulation/legal system, I would think it will be very difficult to pass.

Also, it was the hardest exam to pass for me because there were only 50 motivated Canadians sitting it.

[jmls]

Makes me, a Canadian struggling with CAS 7C, feel better that a Brit thinks 7C is harder than 7U :) I haven't actually looked at 7U though...

Aaron, my impression also is that 7C is somewhat "haphazard". So for example, evil though IASA is, at least it is a "textbook" of sorts for US stat accounting; we don't really have a textbook for Canadian accounting (I guess we do have paper instructions published by OSFI). We still have to read some US papers because there is more US stuff out there, I guess we can't fill it with just Canadian stuff, although my impression is that we are moving towards more Canadian content. We don't have any CAS7C seminars, and no All10 for 7C (only CSM). Finally, some of the US papers have been on the curriculum forever, so there are tons of old questions to do; the Canadian papers are much newer, there are less old questions.

I don't know whether in an "objective" sense 7C is tougher than 7U, since I think pass rates are comparable. For me though 7C (my last exam) is definitely the most evil exam that I have seen... YMMV though, my old boss actually thought 7C was one of the easiest exams, but she had a photographic memory on an exam largely about memorization...

[GefilteFish144]

Someone from our Canada office sat for the US exam, so apparently 7C is definitely more difficult. On average about 40-50 candidates sit for this exam and 15 pass.

[MountainHawk]

Someone from our Canada office sat for the US exam, so apparently 7C is definitely more difficult. On average about 40-50 candidates sit for this exam and 15 pass.
Does the CIA accept candidates with an FCAS if they passed 7U?

[KindGrind]

Nopes :|

[AaronBeh]

Thanks for all of your responses. My plan was to eventually obtain the FCIA, but I don't want to set myself back a year by failing a spring exam for a designation I may never need.

I have noticed that the 7C version has many more articles than the 7U. Is the amount of material roughly the same?

-Aaron

[GefilteFish144]

Does the CIA accept candidates with an FCAS if they passed 7U?

They won't be able to sign actuarial statements in Canada, but then again not every actuary signs statements so it's not a big loss.

[Salacious]

I was wondering if 7-Canada was considered more difficult

A.) in general

and

B.) for US residents who have no current knowledge of Canadian accounting/government

I am thinking of sitting for it when it comes time, but I want to know if I am making things considerably more difficult for myself.

Thank you,
-Aaron
Hi all, sorry to bring this message up from 4 years ago.

I am in this debate right now between US or Cad exam. If my goal is to get my ACAS this year, would you think that I have a better shot writing the US exam and not take the chance with the CAD one? I am a Cad citizen, but work outside the US and Canada.

Any regrets just writing the US one?

Thank you in advance for you input or comments

[Darkness Falls]

If you don't intend to come back to Canada write the US version (having study guides will make it much easier). If working here is an option for the future do the Canadian version though

[Vorian Atreides]

Note: you can always sit for the Canadian version down the road if necessary.

I plan on attaining the FCIA designation, but since my company is primarily US, I'm expected required to sit for 7U and get my FCAS first.

[Darkness Falls]

Note: you can always sit for the Canadian version down the road if necessary.

I plan on attaining the FCIA designation, but since my company is primarily US, I'm expected required to sit for 6U and get my FCAS first.

Why? Passing 6C gives you the same practice rights in the USA as passing 6U it's only the reverse that isn't true.

[ElDucky]

Could you sign if you never took 7C, but happen to be an FCIA from your FSA designation? The standards seem to only require that you know what you are doing.

[Vorian Atreides]

Why? Passing 6C gives you the same practice rights in the USA as passing 6U it's only the reverse that isn't true.
6C doesn't cover US accounting standards; which my employer desires its FCAS to learn.

[atkinsmt]

Anyone know if 7U will ever get credit in Canadia? Has that been a discussion at CIA? Not planning on moving back anytime soon, but you never know.

[tommie frazier]

i wouldn't hold your breath.