Keep reading for even more detail regarding the CPA exam. The CPA exam is extremely hard. It tests concepts and working knowledge in a wide variety of fields, and requires quite a large undertaking of planning, studying, and preparing. I found each of the four main exam portions to require demonstrated knowledge of a wide range of accounting topics. There are several factors that make the CPA exam one of the most challenging credentialing examinations. Most test takers have identified the vast amount of information covered on the exam to be the primary reason for its difficulty, which in turn requires a substantial amount of study and preparation.
Each section uses a variety of question types, it is time-limited, and it utilizes multi-stage difficulties. In three of the four test sections, the questions are only multiple-choice questions, however, in one of the sections, there are multiple types of questions that are employed.
There are still some multiple-choice questions, but there are also are simulations based on a given task or scenario, and written communication simulations as well. So prepare, commit, and stay positive. Good luck! For more information or to follow him on social media, check out his website at CPAexamGuy. Bryce Welker is a regular contributor to Forbes, Inc.
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Check out our partners here. So, here is my honest assessment of the two exams. To sit for the Bar Exam, most states require a law degree from an accredited law school. This takes between two to three years beyond an undergraduate degree. This means around hours of formal education. A few states allow for you to sit without a law degree, or you may substitute some years of law school with an apprenticeship. However, good luck with passing the exam if you do not have a law degree as the pass rate is around 26 percent, and you may not get hired even if you do pass.
Clients and firms are not excited to hire someone who did not attend a good law school. And you must have a law license to practice law. Some states will allow you to begin the testing process with hours completed, but you must have hours of formal education to obtain a license.
You may work in the accounting field without a CPA license, which is different from the legal profession, which requires a legal license for most areas of practice. As an accountant, you may prepare taxes and do bookkeeping, although a CPA license allows you to represent a tax client before the IRS and sign off on audits, carrying higher prestige and salaries.
Each state has its own requirements for the Bar Exam. Many states now participate in the Uniform Bar Examination while others still administer their own tests.
The exam is offered twice a year and consists of a minimum of a two-day testing process. Each state has designated testing halls, and exam takers sometimes must drive across the state to sit for the exam. Sixteen areas of the law are tested, including all areas of criminal, constitutional, contract, property, torts, evidence, civil legal procedures and more.
The exam asks multiple choice questions. The second part of the exam consists of six formal essay analyses of legal issues, and two Multistate Performance Tests MPT. The exam is taken in July and February in large testing halls, and a retake is not possible for six months if you fail.
The results are not released for two to three months after the exam date. The wait is long and stressful. The results are ultimately posted on a state website for the world to see. The CPA Exam was previously tested in a similar manner as the Bar Exam, with the exam given over a few consecutive days.
Within each section are many subtopics. Each is rigorous and demands weeks, if not months, of preparation. The results are available in as little as 10 days, depending on how close to the predetermined exam result release dates when you sit for the exam.
You may reschedule as often or as soon as you would like if you fail. Since the result turnaround is quite fast, the stress involved is much lower than the Bar Exam. The CPA Exam is made up of four sections and each section includes four hours of testing time and one hour of time for administration and security.
The exam is offered year-round, and scores only remain valid for 18 months. In other words, the CPA Exam is a long exam, and this time investment makes every aspect of it that much harder. The time invested into the CPA Exam will come in two main chunks: studying for the exam and taking the exam.
Studying for the CPA Exam is a time-consuming process. Ultimately, planning your study schedule is just another aspect of the difficulty of the CPA Exam.
If you invest too little time, you risk poorly covering key topics. Invest too much, and you could begin forgetting topics covered near the beginning of your studies. The Gleim Premium CPA Review Course is a complete course to help you not only plan out your studies but overcome the challenges of studying for such a difficult exam. This could vary depending on:. You will likely spend more time taking the exam than you imagined, once you consider the additional time spent traveling, scheduling, and signing in.
This time is spent verifying your identity and reviewing the testing center policies. If you do not arrive at least 30 minutes prior to your scheduled time, you may forfeit your appointment and will receive no refund! In addition, while the CPA Exam is four hours, your appointment will be scheduled for four and a half hours to include time for the survey and optional break. Do not confuse this time with the 30 minutes required by Prometric.
With each exam taking five hours, the CPA Exam will require a minimum of 20 hours of examination time! Scheduling concerns for international candidates. It is not unheard of for international candidates to schedule all of their exams within a week of each other in order to minimize what may otherwise be one of the largest hurdles between you and the CPA certification.
Bring a small snack to keep in your locker, or use this time to stretch and refocus. Between this and any travel or accommodation time that may be required based on the testing center of your choice, it is clear that time plays a significant role in test-day stress. The CPA Exam is a time-consuming exam, so it is important to make sure it only eats as much of your time as it absolutely has to. You will spend approximately 30 times as long studying for the exam as you will actually spend taking it, so it can be tempting to shave that study time down to sit for the exam faster.
But cutting too many corners can cost you—studying for an exam section a second time will more than erase any time you might have saved. Set aside time specifically to study—and set study objectives. Practice all of the question types. Use the CPA Blueprint as a guide on study topics. Plan to study all day, every day.
Memorize the individual questions. As you can see from our tips, the key is to study smart. Under preparing will result in poor performance, and failure means more time spent registering, traveling, and testing.
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