There is no doubt that the CPA Exam is nerve-wracking, time-bounded, and extremely jittery. As a result, passing it with flying colors requires commitment, discipline, and planning. While preparation is essential for passing, there’s a lot you need to do before that.
Let’s start at the beginning: First, you must meet your CPA exam requirements set by your State to sit for the exam. Next, you must schedule your exam and date and apply for the CPA exam. Finally, you will have to find the right centers to help you prepare for the exam. You can ace the exam and earn your CPA title with the right knowledge and skills. You never know. You might even pass it the first time around!
- Make sure you meet the requirements
Understanding the CPA requirements by State is an immensely helpful part of preparing for the CPA Exam. CPA license requirements vary among the 55 jurisdictions that grant licenses.
There is a minimum requirement of 150 credits in all 50 states for a bachelor’s degree. Your State may require 120 hours of study before you can sit for the CPA Exam. Depending on the State, you will also need to complete accounting-specific studies to sit for the CPA Exam.
As for the age, there are no minimum age requirements in most states; however, in jurisdictions that do, they are usually 18 to 21.
- Pick the right schedule
It is a complicated process to apply for the CPA Examination, especially if you are a first-time candidate. With an 18-month scheduling window, notice-to-schedule (NTS) expiry, result date, and other factors, it is difficult to determine how to proceed.
Once you complete the application process, request an NTS from the relevant authority and schedule your examination. CPA Exams are held throughout the US all year round. Choosing a suitable CPA exam schedule and date is of paramount importance.
The government has opted to hold standardized CPA examinations electronically throughout the year. The CPA test can be scheduled at any time of the year based on a candidate’s level of preparation and convenience. Candidates will also have the opportunity to reappear for exams if they fail. As soon as the results are received, they can re-take the exam.
- Make a study schedule
To save time and prepare effectively, create a personalized study schedule. Identify the study time for each day of the week to design a study plan.
Once you’ve identified your study slots, estimate how many topics you’ll be able to cover in the specified time limit. Divide each topic into manageable chunks that can be covered in the desired time slots. Organize each section into a realistic schedule to practice time management.
Since you have at least 120 hours to cover each section, plan your study time wisely. Time management can help you focus on what you need to accomplish while balancing your strengths and weaknesses.
The most productive time to study is in the morning. It is easier to comprehend information with a clear mind. Be sure to revise promptly and avoid covering too much at once. Keep track of how long it takes you to answer different types of questions. It will give you a better sense of time management during the exam. If you’re a working professional, allocate 2 to 3 hours per day for your studies.
- Get professional assistance
You can consult an expert if you need help with a complex topic. The CPA Exam Coach can also help you set a timeline if necessary. If you need assistance, don’t hesitate to contact a colleague or professor.
An experienced professional can help you understand topics such as professional skepticism and audit letters. Moreover, you can search online for blogs and websites that assist in this area.
- Understand the exam content
Exam blueprints are the most efficient way to learn about the content of the CPA Exam. You will find a detailed overview of the exam format, types of questions, content distribution, and topics included in the exam. The information is organized section-by-section.
Multiple-choice tests are extensively discussed in the blueprint as well. Aside from gaining a complete understanding of the questions, you can also learn about the testing criteria.
Before taking the exam, you must understand the exam content, format, and structure as much as possible. If you follow this tip, you will have no surprises on the day of your CPA Exam.
- Make sure you practice by solving sample tests
Among all the tips for CPA Exams, this is the most important. The only way to become familiar with the actual exam experience is to practice questions similar to those on the exam. Wiley’s sample tests introduce the format and features of the CPA Exam software.
The practice tests last approximately two hours and use similar software to the actual exam. Also, accessible sample tests are available for candidates who need testing accommodations.
As part of your regular study schedule, you should attempt practice tests every two to three days. From the beginning of the final week before the exam, solve 1-2 sample tests daily.
Spend no more than 40-60 minutes on each test. Make sure you invest 5-10 minutes reviewing your answers. Take advantage of the optional breaks as well.
Conclusion
As a CPA candidate, you will face challenges and rewards as you prepare to take the exam. Despite this, it is okay to feel jittery sometimes with many requirements and deadlines to meet.
To overcome anxiety and succeed in the CPA Exam, follow the tips mentioned above. Then you can confidently prepare for the exam. Good luck with your exam!