Title: Strategies For Taking The Uniform CPA Exam
1Strategies For Taking The Uniform CPA Exam
2Program Objectives
- This program is designed to help you
- Prepare for and take the CPA exam
- Know what to expect on exam day
- Better understand the exam simulations and
- Take control of the examination process.
3Todays Speakers
- Gregory Johnson, CPA
- Director-Exams Strategy
- AICPA
- --------
- Sahan Totagamuwa
- Associate, Valuation and Forensic Services
- Clifton Gunderson, LLP
- Thomas C. Omer, Ph.D.
- Associate Professor
- University of Illinois at Chicago
- --------
- John F. Hudson, CPA
- Moderator
- Hudson Consulting Group, LLC
4CPA Examination OverviewGregory Johnson,
CPAAmerican Institute of CPAs
5CBT a Success
- April will mark the first full year of
computer-based testing (CBT). - CBT a success
- Launched on schedule
- Nearly 100 of tests launched and successfully
completed - instances of restarts or delays occurred rarely
- this is better than the rates of most other
professional licensing programs offering
computerized exams - Post exam surveys show 97 of responding
candidates are satisfied with CBT
6Volume and Pass Rates
- Approx. 77,000 candidates tested in 2004
- Approx. 110,00 examination sections administered
- Estimate about 150,000 completed test sections by
March 31, 2005 - Pass rates range between 41 - 45 per section
7The Examination
- Four exam sections
- Auditing Attestation (4.5 hours)
- Financial Accounting Reporting (4 hours)
- Regulation (3 hours)
- Business Environment Concepts (2.5 hours)
- 14 hour total length
- All sections, except BEC, include simulations
8Granting of Credit
- Take sections individually and in any order
- Credit for passed section(s) retained for 18
months - No minimum score requirement for failed sections
9Score Reporting
- Candidates should receive their scores shortly
after the close of the testing window. - AICPA, NASBA committed to reducing score
reporting time. - October/November 2004 testing window, nearly all
scores released by the AICPA by December 28 - AICPA plans to report scores monthly beginning
August 2005
10Exam Application and Registration
- Apply early may take 6-8 weeks for 1st time
application to be approved. - Call 1-800-CPA-EXAM
- NASBAs Candidate Care Department expanding so
post-exam inquiry process is faster email or
call - candidatecare_at_nasba.org
- 1-866-MY-NASBA (1-866-696-2722)
11At the Test Center
- Report equipment or computer issues to test
center staff immediately. - Keep the Confirmation of Attendance after your
exam use to follow-up on any issues. - Test center staff cannot
- answer content questions
- explain how to use CPA Exam software
- extend or adjust exam time
- Be prepared before you take the exam
- Read The CPA Exam Alert for more test tips
12Exam Preparation
- Be prepared before you take the exam
- Exam has unique software and functionality
- Read The CPA Exam Alert for more test tips
- Visit www.cpa-exam.org
- View exam tutorial
- Take the sample test
13What Candidates Are Saying
- They prefer the computer-based exam
- They like the administrative flexibility
- Can take one section at a time
- Can schedule test sections on different days and
times - They like the Prometric test centers
- They are concerned about how to manage time on
the exam in the testlet format - They would like to receive scores faster
14CBT Research
- AICPA-NASBA-Prometric committed to continual
improvement of the exam - Candidate focus groups held across the U.S.
- Other research with employers, students and
professionals underway - Take 2-minute Candidate Outreach Survey at
www.cpa-exam.org - Research results shared with to state boards and
educators
15Advice for Candidates
- Determine how much time you can commit to study
- Be prepared to drop other activities
- Schedule study during times you are more
productive - Choose study method in line with the way you
learn best - Contact your state board about requirements to
sit for the exam - Working professionals should closely look at
schedules - Make sure you become familiar with researching
the authoritative literature
16A Candidates PerspectiveSahan
TotagamuwaClifton Gunderson, LLP
17Scheduling The Exam
- Notice to Schedule (NTS)
- Scheduling flexibility
- Schedule according to your personality
- Proximity of exam dates
- Be goal oriented
- Know your strengths and weaknesses
18Preparing For The Exam
- Balancing study time and other activities
- Goals
- Review textbooks
- Third party review courses
- Study one section at a time
- Get into a rhythm
- Practice sitting at one place for long periods of
time
19Preparing For The Exam cont
- Practice, practice, practice
- Simulations
- Dont burn the candle at both ends and
- Relax on the day prior to your exam.
20Exam Day
- Get to the test center early
- Dress accordingly
- Pre-exam formalities
- Two forms of ID
- NTS
- Photograph
- Scratch paper (make sure the exam is stated on
the sheets) - Sign-in
- Lockers
21Exam Day Cont
- At your assigned computer, you will have
- Two forms of ID
- Two sheets of scratch paper (provided by the test
center) - Two pencils (provided by the test center)
- Ear plugs/muffs
- Pre-exam questions on the computer
- Do the pre-exam questions quickly
- Dont use this time to do stretching exercises,
write down notes etc.
22Exam Day Cont
- The exam
- FAR, Reg/Tax, Audit
- Five individual testlets
- Three testlets consisting of multiple choice and
true/false questions - Two simulations
- BEC
- Currently, three individual testlets consisting
of multiple choice and true/false questions
23Exam Day Cont
- Testlets
- Your time starts as soon as you open the first
testlet - You have to manage the clock
- Allocate time to each testlet
- 30 50 minutes per multi choice testlet
- About 1 ½ - 2 hours for the simulations
- Leave enough time to do the simulations
- Dont spin your wheels on one question
- If needed, mark questions for review
- You cant go back to a testlet that you have
completed and submitted.
24Exam Day Cont
- Equipment malfunctions
- Dont try to fix it yourself
- Many others passed this exam before you. If they
can do it so can YOU! - GOOD LUCK!
25Exam SimulationsThomas C. Omer,
Ph.D.University of Illinois at Chicago
26Simulations
- Simulations Overview
- Who develops simulations
- Creating simulations
- Example (available at www.cpa-exam.org)
- How to prepare
- Students
- Faculty
- The Future
27Who Develops Simulations
- Who develops simulations?
- AICPA Task Force Leader
- Task Force Volunteers
- Practitioners
- Academics
- Assistance by AICPA Staff
28Creating Simulations
- Creating simulations
- How do we start (Regulation Task Force)
- Members of task force propose topical area (e.g.
individual, corporate, partnership) - Within topical area choose an issue that contains
multiple aspects - Basic simulation structure
- Content testing
- Written communication
- Research task
- Members submit proposed simulation for
consideration by task force - Concerns
- Entry level candidate
- No double jeopardy (or work around related
questions)
29Creating Simulations
- Task Force Meets (3 times per year)
- Review submitted simulation proposals
- Extensive review and revision of proposed
simulation - Concerns
- Topic adequately represented
- Topic adequately tested
- Minutia avoided
- Solutions attainable
- Time
- Approved simulations sent to AICPA content
committee for appropriateness and correctness - Meetings continue to address new simulation
proposals as well as suggestions (corrections) on
previous submissions to the AICPA Content
Committee
30Simulation Example
31Simulation Example
32Simulation Example
33Simulation Example
34Simulation Example
35Simulation Example
36Simulation Example
37Simulation Example
38Simulation Example
39How to Prepare
- Students
- Use the practice material available from AICPA
- Focus on the overall picture rather than
memorization of specific facts or details. With
faculty help make sure you see the topic broadly
not just separate unrelated issues - Do research out side of class on topics you are
interested in as well as those required for class - Be tolerant of the new approach
- Faculty
- Incorporate research in the classroom
- Hint use topics normally covered during class
time - Attempt to present bigger perspectives in topical
areas - Push overall concepts first, details second
- Try to help students the connectedness within and
across topical areas - Be tolerant of student frustration when changing
their perspective
40The Future
- Current simulations are reasonable for initial
steps but expect changes as study habits and
classroom experience changes. - Future simulations will move beyond the first
generation in use today.
41 42- Thank You For Participating!
43Upcoming CPA Examination Webcasts For a complete
listing, check our website at http//www.cpa-exam.
org