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The CPA Exam: Know What it Takes to Pass


(SmartPros) You've signed up for the CPA exam. First time? Second? Perhaps more? Well then, you're probably starting to become overwhelmed by the task before you. Let's face it, it's a daunting one. The exam is difficult and the pass rate is, well, less than stellar. What separates those who do pass from those who don't?



[Editor's Note: this article is in reference to the old paper-based exam, not the computer-based exam that is now in use.]

Those three little letters, CPA, are your goal. So let's begin with three concepts related to reaching this goal:

  • Attitude
  • Discipline
  • Practice
Attitude. Few candidates fail the CPA exam because of inadequate content knowledge. In fact, most colleges and universities do a better-than-average job of preparing students. Then why is the pass rate so low? One of the chief reasons is attitude. That's right - attitude.

Psychology teaches us that self-efficacy (or task-specific self esteem) is related to performance. That means your belief in your ability to pass the exam is directly related to whether or not you will. This is particularly important for those of you repeat test takers. Shake off those doubts and insecurities and start to envision yourself passing the exam. With proper preparation (and the strategies and suggestions provided here) you too can be a CPA!

Discipline. Most degree programs provide enough content for you to complete the exam. However, it took numerous courses (and several years!) to do this. You must now construct a program to review this information in a greatly condensed time period.

That's where discipline enters. For the next three months, passing this exam must be your first priority, even more important than current courses (ever think you'd hear a prof admit that)? That means setting a schedule and sticking to it. Don't be unrealistic; everyone needs some free time. But also realize that 2 hours a week just won't be enough.

Practice. How does a kicker boot a game-winning field goal with no time left? I can promise you it wasn't the first time he did it! In fact, successful athletes, at all levels, achieve success only through practice.

Why then, do most students not follow this example? It is rare I encounter a student who actually takes a practice exam under simulated exam conditions. It's no wonder then that most do poorly when placed in a "game" situation. Begin now taking practicing exams - composed of old exam questions, using published time guidelines, in a quiet room with no distractions. Although the exam is now "closed," older questions are still being used and are readily available. Additionally, college professors and textbooks can provide a plethora of practice problems to help you prepare for the big game.

Got a question? Email the author at rwyatt@drury.edu.

2000-2001, Smartpros Ltd. All Rights Reserved.

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