The CPA exam ranks up there with some of the toughest tests out there to take. There are not any people without a quality background taking this test, so every person is capable of doing better than you are. With only a certain amount of people passing each part, it is important to do better than about 60% of the people taking the exam. The average pass rate per section is about 40% or a bit more. That is true of BEC, FARE, AUD, and REG. They vary some, but it seems that the pass rates stay constant.
The following 7 tips should allow you to get a leg up on a few people and maybe get you past the hump.
1.Take the exam when you test best. Whether it is morning or afternoon decide what time you want to take it and get a plan. Be sure to be fully rested and have some food in your stomach. This could be a long 3 – 4hours, but it will go by very quick. You need the energy to keep your mental strength high so you do not lose focus.
2. Do not get discouraged. You will be taking it and feel like you missed many in a row or just failed. Since the test-lets can all be different and you really do have no idea, keep going and stay strong. You only have to beat around 60% of the other students so each question is vital. Remember it is a timed exam so be sure to get finished, even if you have to write some bad stuff on the simulation part of the exam.
3. Beginning in 2011 they will be testing IFRS. That is the international version of GAAP that many companies here in the US will have to use over the next handful of years. Get to know it early so you are not surprised. There are some differences so be sure to keep the two straight.
4. Be sure to fully read each question. Yes sounds simple, but many people try to go too quick and overlook this easy thing to do.
5. Fully read each answer. Yes I know it sounds simple, but I would guarantee each person misreads at least 1 question or answer during the CPA exam. Some get in a hurry and others just get tired. Do not let this happen to you.
6. Remember to keep track of the time. You have an allocated amount so be sure to check up and see if you are on track. Make or chart or something and follow it. Now if you have some long questions take some time, but do not dwell. You can always make up a few minutes but not a half hour.
7. Once the test is done, start studying for the next part. Take a day off or so to regroup but then move on. Do not dwell on y0ur results and wait. Just keep moving forward. Accept some failure too. If you fail one part just take it again. It happens. Move forward and do not give up.
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