- There is approximately a 30% pass rate for each section of the exam. Which section is the easiest or most difficult depends on courses you have taken in school and the amount of preparation you have put into the exam, along with where your abilities lie. Capitalizing on your personal strengths and using Wiley's CPA Examination Review books to improve your weak areas will thoroughly prepare you for all sections of the CPA exam.
- When studying other objective questions, remember that the wrong answer is usually very easy to compute if you only remember half of the requirements. Be sure to read the questions carefully.
- Determine your strong and weak areas and allocate your study time accordingly. Allow extra time to improve weak areas while not wasting excess time on areas you have already mastered. Aim for 85% correct in all study areas.
- Learn the material and know it. Go beyond being familiar with various topics. On the CPA examination, familiarity is insufficient; you must know the material.
- The amount of material covered on the CPA exam is overwhelming. Divide your studies into segments and reward yourself upon successful completion of the material in each segment. For example, treat yourself to an ice cream sundae after you master deferred taxes. These mini-goals with rewards will provide motivation and aid you in reaching your ultimate goal of passing the CPA exam. You can do it! The Wiley CPA Examination Review's unique 44 modular approach helps you tackle the CPA exam in manageable sections.
- Attempt to identify and correct your weaknesses before you sit for the examination. Analyze the contributing factors to incomplete or incorrect solutions to CPA problems prepared during your study program.
- Your preparation for the CPA exam should include reviewing material, as well as working problems (preferably under exam conditions). Be sure to spend time practicing how to work problems. We suggest that your study time be divided equally between reviewing material and working exam problems. The Wiley CPA Examination Practice Software is
- Be neat and organized when presenting your solutions. Answers should be set forth in short, concise sentences, organized per the requirements of the question (i.e., labeled/numbered accordingly).
- Accuracy is just as important, if not more so, as speed. You should work each section of the exam with a time budget in mind to avoid any last minute panic attacks.
- Working old examination problems (including essay questions) serves two functions. First, it helps you develop a solutions approach as well as solutions that will satisfy the grader.
- A candidate who only works multiple-choice questions narrows his or her preparation to that specific topic. On the other hand, working through essay questions and problems in addition to the multiple-choice helps the candidate tie together several topics. This approach should help the candidate learn the key concepts more effectively.
- Essay questions require the ability to organize and compose a solution, as well as knowledge of the subject matter. Remember, working essay questions/practice problems from start to finish is just as important as, if not more important than, working multiple-choice questions.
- REMEMBER! The AICPA does not accept solutions in outline form. THE AICPA EXPECTS THE GRADING CONCEPTS TO BE EXPLAINED IN CLEAR, CONCISE, WELL-ORGANIZED SENTENCES. However, you may prepare answers in list form as long as the listed items complete a sentence that begins with a lead-in phrase.
- After you have finished reviewing for each part of the exam, work the complete sample exam for that part of the exam. A complete sample exam for each of the four parts is provided in the Appendices in our texts.
- Use short, simple sentences when writing your essay. Try to express yourself in as few words as possible. When writing your essays consider the appropriateness for the reader. If the intended reader is not specified, the candidate should write for a knowledgeable CPA. Do not hesitate to include what may seem obvious.
- Many candidates do fall behind at some point in their preparation. However, you should try to keep up or catch up as much as possible. Development of weekly "to do" lists help you to establish intermediate objectives and goals as you progress through your study plan. You can then focus your efforts on small tasks and not feel overwhelmed by the entire process. Then, as you accomplish these tasks, you will see yourself moving one step closer to realizing the overall goal, succeeding on the CPA exam.
- Your preparation for the CPA exam should begin at least three months prior to your scheduled exam date.
- Don't put off until tomorrow what can be done today. Study every day, or as frequently as your schedule allows. Procrastinating until the last few days before the exam will only increase your chances of failure.
- Work hard to maintain balance and good health. Life imposes many demands on our daily schedules. Adequate amounts of sleep, food, and exercise in your study schedule are necessary to meet the physical and mental demands placed upon you during the 15 1/2 hours of the CPA exam.
- Most candidates probably spend over 90% of their time reviewing material tested on the CPA exam. Much more time should be allocated to working old examination problems under exam conditions. Practice is key to passing the CPA exam.
- The exam is just a piece of paper you write your answers on with a pencil. It cannot jump off the table and question you in person. You are in control of the situation, not the exam. Don't be afraid of being wrong.
- No one can predict with certainty what questions will be asked on the CPA exam. The Wiley CPA Examination Review books contain the AICPA content specification outlines. Instead of taking chances, you should prepare completely for all topics, particularly those that carry the heaviest "area weights" (roman numerals) in the content specification outlines.
- Maintain a positive attitude. Commit yourself to meeting your goal of passing the CPA exam. Stick to your study schedule.
- The exam is a strenuous situation. Are you practicing sitting and using your mind for eight hours a day?
- Practice the solutions approach! Beyond knowing the material, you must be able to convey that knowledge to the grader within the time frame allowed.
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