CPA Exam Basics & Getting StartedCPA Exam Basics & How to Get Started Share this eBook! www.rogercpareview.com CPA Exam Basics & Getting Started CONTENTS 03 INTRODUCTION 04 CHAPTER 1: Four Parts of the CPA Exam 10 CHAPTER 2: Types of Questions on the CPA Exam 18 CHAPTER 3: Pass Rates and Passing Score 22 CHAPTER 4: Education Requirements & Application Basics Share this eBook! www.rogercpareview.com 2 rogercpareview. As always. It contains all the basics you will need to get going and succeed. Regardless of your situation. So start by reading this book.CPA Exam Basics & Getting Started Introduction You are close to completing your education in accounting or have recently finished. Hurray! This eBook is designed to help you through the basics of the CPA Exam: What type of questions you will find. you are ready to take the next big step toward your career and become a CPA. and where to get started. and a number of links which will provide you with more information on the topics you are interested in. please feel free to call our friendly Customer Care team at 877-764-4272. charts. how to apply. if you have questions. Share this eBook! www. There are pictures.com 3 . CPA Exam Basics & Getting Started What is this thing they call the CPA Exam? Share this eBook! www.com .rogercpareview. Reports. Information Technology 5 .rogercpareview. Economic Concepts.CPA Exam Basics & Getting Started AUDITING 4 hrs FINANCIAL 4 hrs REGULATION 3 hrs BUSINESS ENVIRONMENT & CONCEPTS 3 hrs Share this eBook! www. and Business Law • Cost Accounting. Internal Control. Ethics. Governmental Entities. Professional and Legal Responsibilities. Non-for-Profit Organizations • Federal Taxation.com • Standards. Planning & Evidence.. Compilations & Reviews • Business Enterprises. Financial Mgmt. CPA Exam Basics & Getting Started What is on each section? Want more info? Watch webcasts from our video archive.com 6 . Share this eBook! www.rogercpareview. rogercpareview. Share this eBook! www. your first part will drop off as the window rolls forward.com 7 .CPA Exam Basics & Getting Started 14 hours of testing total 18 months to complete all 4 parts 18 month Rolling Window: From the date you sit for your first part. You must pass all four in an 18 month window. If 18 months goes by and you have not passed all four parts. you cannot go back and change your answers. FAR. and REG? Start Exam Enter the Prometric Testing Center.rogercpareview. you will enter M/C Testlet #1. you cannot go back to #1. You can mark questions for review. move to Testlet #2 Once you’ve advanced a Testlet. Each TBS is worth 6-7 points. and bounce around within each Testlet. Once finished and all questions have been answered. One question will be pretested. Multiple Choice Multiple Choice Multiple Choice Testlet #3 Testlet #2 Testlet #1 Once you begin your exam.com *question types explained on page 11 Task Based Simulations (6 or 7) AUD. After logging on and accepting the terms and conditions. 8 . One TBS will be research based. Let the games begin! Share this eBook! www. Register. move onto the Task Based Simulations. your time will start.CPA Exam Basics & Getting Started What is the format of AUD. REG has 6 TBS. When Testlet #3 is complete. Once you move forward into a new section. FAR have 7 TBS. then take your seat in a room full of computers. The clock is now counting down. rogercpareview. you cannot go back Written Multiple Choice Communication Teslet #3 Once you move forward into a new section. When teslet #3 is complete. Register.CPA Exam Basics & Getting Started What is the format of BEC? Start Exam Enter the Prometric Testing Center.com Multiple Choice Teslet #1 Multiple Choice Teslet #2 Once you begin. 9 . 24 Questions in each teslet You can mark questions for review. you will enter M/C Teslet #1. you cannot go back and change your answers. and end. 3 questions total W/C tests you on your ability to explain a concept. Once finished and all questions have been answered. Let the games begin! Share this eBook! www. move onto the Written Communication section. move to teslet #2 Once you’ve advanced a teslet. then take your seat in a room full of computers. your time will start. Have a beginning. middle. and bounce around within this teslet. After logging on and accepting the terms and conditions. rogercpareview.com .CPA Exam Basics & Getting Started Multiple choice Tasked Based Simulations Written Communication Share this eBook! www. Task Based Simulations (TBS) Task Based Simulations (TBS) • From the AICPA: “Task-based simulations are case studies that allow candidates to demonstrate their knowledge and skills by generating responses to questions rather than simply selecting the correct answer. You want to answer all of the questions – at least by guessing – because you are not penalized for getting questions wrong. Also be sure to double check your spelling and grammar as they check that in detail. one of which is pre-tested. The test will offer you four options and you must choose one. BEC has zero. One of the TBS on each section is “pretested. Share this eBook! www. You will answer in memo format with a beginning. • FAR and AUD both have 90 MCQ questions total. • There are three questions on the written communication section.” • FAR and AUD both have 7 TBS. REG has 6. middle.” meaning it won’t count towards your score.CPA Exam Basics & Getting Started Multiple Choice (MCQ) • The majority of questions you will encounter on the CPA Exam are multiple choice. so be sure to do your best on all of them! Written Communication (WC) • The written communication questions are designed to test your writing and ability to understand and explain a concept. these questions are not specified. However. Task-based simulations typically require candidates to use spreadsheets and/or research authoritative literature provided in the Exam.rogercpareview. and end.com 11 . REG and BEC have 72. FAR.rogercpareview. REG 15% WC 40% TBS 60% MCQ 85% MCQ Share this eBook! www.CPA Exam Basics & Getting Started How are the sections weighted? BEC AUD.com *TBS=Tasked Based Simulation 12 . Share this eBook! www.CPA Exam Basics & Getting Started Countdown Clock Click on a number to see what question is ahead.com Sample Multiple Choice 13 .rogercpareview. rogercpareview.CPA Exam Basics & Getting Started Customize your view You may be filling out a form Fill out the orange boxes Share this eBook! www.com Sample TBS 14 . Find your answers in the authoritative literature Share this eBook! www.rogercpareview.com Fill in the appropriate answer 15 .CPA Exam Basics & Getting Started Research Question. rogercpareview.CPA Exam Basics & Getting Started Search by topic to find the information you are looking for in the literature Search terms are highlighted Share this eBook! www.com Sample TBS 16 . com 17 . but no grammar checker Sample Written Communication Share this eBook! www.rogercpareview.CPA Exam Basics & Getting Started WC questions are checked for relevancy to the question asked WC questions are to be answered in memo format Includes a spell checker. com .CPA Exam Basics & Getting Started What do I need to pass?! Share this eBook! www.rogercpareview. Share this eBook! www.Just kidding.CPA Exam Basics & Getting Started What does it take to pass? 75 or better Remember what it was like getting a 75 in college? It was a C. this test is hard. …. which is average! That’s what the “C” in “CPA” stands for = average.com 19 ..rogercpareview. rogercpareview.CPA Exam Basics & Getting Started Only 48% of people taking the exam pass on their first try This includes everyone! • • • • • • Share this eBook! www.com Those who took a review course Those who did not take a review course The smart kid in class The professional in his second career Recent graduates International students 20 . rogercpareview.CPA Exam Basics & Getting Started 88% Share this eBook! www.com of Roger CPA Review students pass on the first try Find out why! 21 . rogercpareview.com .CPA Exam Basics & Getting Started Haow mutch skooling do i nied? Share this eBook! www. com accounting (24-36 sem.CPA Exam Basics & Getting Started Education Requirements In order to sit for the CPA Exam. 23 . these units may be in business (24 sem.) and Check my state’s education requirements Share this eBook! www. you need to meet certain education requirements which vary state to state.rogercpareview. you do not necessarily always need an accounting degree. In many states.) However. Typically its 150 semester/225 quarter units total. CPA Exam Basics & Getting Started CPA Exam Checklist A STEP 01: Check your state’s education requirements. Share this eBook! www. if you attended a Junior College before earning your Bachelor’s degree. A STEP 03: Submit transcripts and application fee to designated place (based on your state). you must submit both transcripts – even though the credits probably transferred. A STEP 02: Visit NASBA. NASBA requires that you submit all higher-level transcripts which you want to count toward your required credits.rogercpareview.org or your state Board of Accountancy website for forms and instructions on application. Why? They want to make sure that all your classes line up appropriately with the requirements.com 24 . For example. 9.com Section AUD FAR REG BEC TOTAL Fee $190.25 $171. Why? If you pay for all 4 parts. In many states. Note: Only apply for the sections you would like to take in your Notice To Schedule window (6. 12 months depending on your state).20 25 . you lose the fee for the last part and must pay for it again! Err on the side of caution and only pay for the parts you know you will take. Once your application has been approved. Total fees range from $650 – $950.CPA Exam Basics & Getting Started A STEP 04: Receive approval to take the CPA Exam.35 $190.rogercpareview. A STEP 05: Select exam sections you would like to take and pay required fees to NASBA.35 $171.25 $723. but only take 3. this approval is what is called the “Authorization to Test” or ATT. you will receive approval to take the CPA Exam. Average National Fee Breakdown: Share this eBook! www. CPA Exam Basics & Getting Started A STEP 06: Receive Notice To Schedule (NTS) A Prometric Test Centers – Domestic & International STEP 07: Schedule your Exam at www. Share this eBook! www.rogercpareview. MD slots fill up fast near the end of each testing window. If you have a preferred location. be flexible on the location.com 26 . so be sure to schedule in advance. Tokyo.Prometric. be flexible on the date you sit. Japan A STEP 08: Take your Exam at a Prometric Testing Center.com. Testing Baltimore. If you have a preferred date. While we all start with the same questions and topic outlines from the AICPA. With an 88% pass rate. track their progress. our mission goes beyond seeing our students pass the CPA Exam—that’s a given. We simplify difficult concepts. Our students remain engaged. Share this eBook! www. Our lectures and textbooks are broken down into bite-sized. The CPA Exam is scary. frequently laugh out loud. it is the delivery of the information that sets Roger CPA Review apart.rogercpareview. >Efficient. Plain and simple. we guide our students every step of the way. stressful and daunting. we teach our students.CPA Exam Basics & Getting Started The Roger Method™ At Roger CPA Review. and help our students retain this information with helpful memory aids and mnemonics. As CPA Exam experts. enabling a preparation process that is Efficient. highly motivating lessons that keep students focused. But it doesn’t have to be so bad. >Enjoyable. We cut out the fat to focus students only on the information needed to pass the CPA Exam and move on with their lives. Our intuitive e-learning system integrates side-by-side lectures with e-textbooks and Study Management Tools to help students set a plan. >Effective. they learn more! It’s no wonder we receive so many testimonials from happy students who legitimately miss their course after passing the exam. Effective and—dare we say—Enjoyable. and often come away singing a song or two—and in turn.com 27 . A CPA candidate’s time is valuable. and we respect that. Not all CPA Review courses are created equal. and assess their strengths and weaknesses for a clear path to success. we know the methodology works. you will pass! -Roger Philipp.rogercpareview.com ” 28 .CPA Exam Basics & Getting Started “ If you study. CPA Share this eBook! www.