Part 1 ABA

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Yes there are now long term implications for failing part 1 for new residents.

The ABA just changed their requirements and instead of 2 parts they have 3 parts.

So if you fail part 1 which is now required to be taken during residency. If you fail it more than 3 times you will face another 6 months of residency. Fail the basic exam 4 times its going to add 1 year to your training.

http://theaba.org/Home/TrainingPrograms
 
Thanks for all your replies. I was asking specifically if you failed right now. I am aware of the new rules for the current residents...that sucks!
 
Not that I know of. I have known several people that failed Part 1. They all still finished their fellowships or started the job they had found. I think only long term effects are if you fail multiple times (I think more than three and you have to re-do some portion of residency (don't quote me on that)). I think some contracts will state that you have to be boarded within 3 yrs of starting or your contract can be cancelled. Some places you will get a raise once you are boarded so you just miss out on some $$.