Strategies For Taking
The Uniform CPA Exam
The views expressed by the presenters do not necessarily represent
the views, positions, or opinions of the AICPA
or the presenter’s respective organization
Program 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.
No. 2
Today’s Speakers
Gregory Johnson, CPA
Thomas C. Omer, Ph.D.
Director-Exams Strategy
AICPA
Associate Professor
University of Illinois at Chicago
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Sahan Totagamuwa
John F. Hudson, CPA
Associate, Valuation and Forensic
Services
Clifton Gunderson, LLP
Moderator
Hudson Consulting Group, LLC
No. 3
CPA Examination Overview
Gregory Johnson, CPA
American Institute of CPAs
No. 4
CBT 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
No. 5
Volume 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
No. 6
The 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
Granting 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
No. 8
Score 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
No. 9
Exam Application and Registration

Apply early – may take 6-8 weeks for 1st time
application to be approved.
 Call

1-800-CPA-EXAM
NASBA’s Candidate Care Department
expanding so post-exam inquiry process is
faster; email or call:
 candidatecare@nasba.org
 1-866-MY-NASBA (1-866-696-2722)
No. 10
At 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
No. 11
Exam 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
No. 12
What 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
No. 13
CBT 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
No. 14
Advice 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
No. 15
A Candidate’s Perspective
Sahan Totagamuwa
Clifton Gunderson, LLP
No. 16
Scheduling 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
No. 17
Preparing 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
No. 18
Preparing For The Exam [con’t]




Practice, practice, practice;
Simulations;
Don’t burn the candle at both ends; and
Relax on the day prior to your exam.
No. 19
Exam 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
No. 20
Exam Day [Con’t]

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
Don’t use this time to do stretching exercises, write down notes
etc.
No. 21
Exam Day [Con’t]

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
No. 22
Exam Day [Con’t]

Testlets
 Your time starts as soon as you open
 You have to “manage the clock”
 Allocate time to each testlet




the first testlet
30 – 50 minutes per multi choice testlet
About 1 ½ - 2 hours for the simulations
Leave enough time to do the simulations
Don’t “spin your wheels” on one question

If needed, mark questions for review
 You
can’t go back to a testlet that you have completed
and submitted.
No. 23
Exam Day [Con’t]

Equipment malfunctions



Don’t try to fix it yourself
Many others passed this exam before you. If
they can do it … so can YOU!
GOOD LUCK!
No. 24
Exam Simulations
Thomas C. Omer, Ph.D.
University of Illinois at Chicago
No. 25
Simulations

Simulations Overview
 Who
develops simulations
 Creating simulations
 Example (available at www.cpa-exam.org)
 How to prepare


Students
Faculty
 The
Future
No. 26
Who Develops Simulations

Who develops simulations?
 AICPA Task

Force Leader
Task Force Volunteers


Practitioners
Academics
 Assistance
by AICPA Staff
No. 27
Creating 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)
No. 28
Creating 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
No. 29
Simulation Example
No. 30
Simulation Example
No. 31
Simulation Example
No. 32
Simulation Example
No. 33
Simulation Example
No. 34
Simulation Example
No. 35
Simulation Example
No. 36
Simulation Example
No. 37
Simulation Example
No. 38
How 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
No. 39
The 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.
No. 40
Summary & Questions
No. 41
Thank You
For Participating!
No. 42
Upcoming CPA Examination Webcasts
For a complete listing, check our website at
http://www.cpa-exam.org
No. 43