I have recently constructed a new computer using original genuine components for ASUS MORTHERBOARD, A7V333. When I switch it on for the first time , there is a messege from the speakers that the system has failed CPU TEST. When I set the clock speed to 100mhz, it does not report the CPU failure, INSTEAD, it reports that the SYSTEM HAS FAILED MEMORY TEST. Where Iam I going wrong? Please assist.

Welcome to the PC GUIDE.
First always double check everything. Check all of your settings using the motherboard manual.
Set all your bios settings using the manual. Make sure everything is setted.
Sometimes it takes a few times of redoing everything, and rechecking.

I HAVE TRIED TO RECHECK EVERYTHING, TO NO AVAIL. ANY NEW IDEAS?

what cpu are you using? what sort/type of RAM are you using? and are both of these in working order? have you got the latest BIOS version? if using the AMD XP2200 it needs the latest BIOS version to run.

check the asus site for help (http://www.asus.com.tw/mb/socketa/a7v333/overview.htm).