CPA Exam Requirements – The Exam Itself

On September 16th, 2010 by dave bryant | No Comments | Posted in cpa exam requirements

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(To see requirements you need to meet in order to be eligible to take the CPA exam, please see this post.)

On top of eligibility requirements, there are requirements associated with the CPA exam itself as well. To pass the CPA exam, which is created and graded by the AICPA (American Institute of Certified Public Accountants), you must pass all 4 parts of the CPA exam with a minimum score of 75 for each part. The four parts are AUD (Auditing & Attestation), FAR (Financial Accounting & Reporting), REG (Regulations), and BEC (Business Environment & Concepts). As for exam format, BEC consists entirely of multiple choice questions (MCQ), whereas the other three sections (AUD, FAR, and REG) are comprised of both MCQ and simulations.

Also keep in mind that you only have 18 months between the time you pass your first and last sections. In other words, the clock starts clicking from the time you pass your first section, and if in another 18 months you fail to pass the other three sections, the first section will expire on you. As well, know that there are only 4 test windows in any given year (Jan-Feb, Apr-May, Jul-Aug, Oct-Nov), and that you cannot sit for the same section twice in any particular window.

The CPA exam has a reputation of being very difficult to pass. The pass rate is typically between 40-50%. This is why it’s so crucial that you choose a good cpa review course to increase the likelihood of passing the exam. You can find out pros and cons of each cpa review course at http://www.CPAReviewCourse.org.  Also, check out my experiences with a couple of the courses in my cpa exam blog at http://www.PassTheCPAExam.org.



CPA Exam Requirements – Before Sitting For the Exam

On September 16th, 2010 by dave bryant | 1 Comment | Posted in cpa exam requirements

Before you can sit for the CPA exam, you need to meet certain CPA exam requirements in order to be eligible.  These requirements differ from state to state, but they generally include the following:

1)Education Requirements

Usually, a bachelor’s degree is required, along with specified numbers of accounting and business courses (usually at least 24 semester hours of each).  With the exception of two states (Connecticut and Virginia), the candidate must have completed 150 college credits, which is equivalent to 5 years of full-time study, before s/he is eligible to write the CPA exam.  (Connecticut and Virginia still require the 150 credits to be completed before the candidate can be licensed though.)

2)US Citizenship

Some states require cpa exam candidates to be US citizens.

3)Minimum Age

Many states have a minimum age requirement, which a vast majority of candidates will have met anyways, by the time they have completed all the education requirements.

For cpa exam requirements by state, please refer to: http://www.becker.com/accounting/cpaexamreview/state/

When you think you have met cpa exam eligibility requirements, you can go to http://www.nasba.org to apply to take the cpa exam. Once you’re deemed eligible to sit for the CPA exam, you will receive a Notice To Schedule (NTS). Then you can go to the Prometric Services Website to schedule your exam(s).

Meeting the above cpa exam requirements is just the first half of the story.  To many, passing the CPA exam is the more difficult task.  To maximize your chances of passing the exam, seriously consider using a good CPA exam review course. You can find out pros and cons of each cpa review course at http://www.CPAReviewCourse.org. Also, I’ve blogged about my experiences with a couple of the courses in my cpa exam blog at http://www.PassTheCPAExam.org.