CAIRP has implemented a competency-based education process, one that focuses not only on knowledge acquisition but on building competencies and skills.
The competency-based national insolvency examination (‘CNIE’) is intended to be a comprehensive examination that tests candidates’ knowledge, understanding, ability to apply technical knowledge to practical situations, and ability to develop solutions to situations that could be encountered in the context of an insolvency and restructuring practice. In short, the CNIE is intended to evaluate the candidates’ readiness to practice as an entry level, Chartered Insolvency and Restructuring Professional (‘CIRP’).
Communication to Articling Associates preparing for the 2017 CNIE
The 2017 Competency-based National Insolvency Exam (“CNIE”) will consist of eight (8) questions, four (4) on day one and four (4) on day two. The questions may be based on a consumer scenario or a corporate scenario but frequently are designed to assess underlying concepts common to both types of practice.
For the second year, candidates will be allowed five (5) hours to provide their responses to the exam questions on each of day one and day two. The times suggested per question on the exam booklet range from a minimum based on writing for three (3) hours and a maximum based on writing for five (5) hours, the total time allotted for the exam each day. Candidates should be careful to not exceed the maximum time allotted for each question since this will reduce the time left for the remaining questions.
The Exam Board is providing extra guidance to candidates challenging the 2017 CNIE by outlining at the beginning of each question the key competencies that are being assessed by that question. Sample wording follows:
In addition to assessing your competency in Insolvency Law and Practice, this question will focus primarily in the areas of Ethical Behaviour and Professionalism, Taxation and Financial Analysis and Reporting. Keep these competencies in mind when answering the questions below.
The goal of this messaging is to direct attention to areas of the competency profile that are being addressed in the questions. Candidates must be careful not to “dump” everything they know about the various competencies identified. The candidates are reminded that responses should be relevant and have an adequate breadth and depth to demonstrate competency. Any part of the response that is not relevant in view of the case facts and formulated “asks” will take away from the time required to answer the question completely and competently.