What to carry for your ELECTIVE PAPER (Open Book) in CA final exam and other FAQs

In this blog post, I thought I would answer all the FAQs I've seen on the internet with regard to the Paper 6 of CA Final (new course), which is an open book exam, conducted by ICAI. 

What to carry for your CA Final Open Book elective exam

    What should you carry for your open book elective paper to the exam hall?  

    1. Indexing Sheet 

    This is the main Sheet, which has links to all major topics covered in the syllabus with the corresponding page number. You should create this on your own, before the exam. 

    2. Suggested Answers of the 3 exams before the previous attempt

    If your attempt is in December 2021, then carry the suggested answers of November 2020, November 2019 (since May 2020 exam was not conducted) and May 2019. 

    3. Mock Test Papers

    Carry the MTPs of the current attempt as well as the last attempt (there is no point in simply carrying the MTPs; you should have gone through them as well, so that you know where a particular answer lies). 

    4. Case Study Digest 

    Ensure that the hard copy of the Case Study Digest you have is the latest version issued by ICAI, available on the BOS website.

    5. Study Materials by ICAI

    This is the most important part of the books you should carry with you. The study materials' pages are what should be linked to the Indexing sheet. 

    What are the elective subject options for CA final?

    There are 6 subjects to choose from - 
    1. Risk Management
    2. Financial Services and Capital Markets
    3. International Taxation
    4. Economic Laws
    5. Global Financial Reporting Standards
    6. Multidisciplinary Case Study

    Which elective paper is scoring in CA final?

    A popular opinion among CA students is that 'Paper 6A - Risk Management' is the most scoring among all the elective options. 

    The main reasons are that -
    • It is a problem solving (practical) number-based paper. 
    • It is based on SFM, so if you have a strong base in this, it will be easy for you to score. 
    • It has only 9 chapters. 

    The next most popular paper is 'Paper 6C - International Taxation', because - 
    • It also has only 9 chapters
    • In Paper 7 - Direct Tax, 30 marks is allocated to International Taxation. Since a lot of portions overlap in these 2 subjects, students with a strong base in Direct Tax can opt for this. 

    Personally, I chose to go for 'Paper 6B - Financial Services and Capital Markets', because I find the topics interesting and I feel I perform better in theory papers than practical. 

    Can I change my elective paper in CA final?

    Yes, even if you choose one subject while registering for the CA final course, you have the option to change the elective when you register for the CA final exam. 

    I hope all your queries regarding the elective paper in the CA final exams have been answered. All the best for your upcoming exams! 💕


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