Informative CPA Statistics!
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Those who take on the CPA exam want useful tools and information that can help them better prepare. Looking at the times when people historically perform better provides insight and should help soon-to-be CPAs to develop a CPA exam study schedule.
Sections of the CPA Exam
The Certified Public Accountant examination consists of four parts and 14 hours.
Auditing (AUD) – encompasses entire audit process: compilations, reviews, attestation assignments, and AICPA code of conduct
Business Environment (BEC) – operations, strategic management, economics, financial management, and information technology
Financial Accounting (FAR) – encompasses largest amount of information, focusing on key differences between IFRS and US GAAP
Regulation (REG) – encompasses federal taxation and business law, including ethics and professional responsibilities
All four sections must be passed within an 18-month period with a score of 75% or higher
CPA Pass Rates By Topic and Quarter – 2020
Auditing
| Qtr | Qtr Pass Rates |
|---|---|
| 1 | 47.97% |
| 2 | 65.29% |
| 3 | 56.89% |
| 4 | 47.50% |
Average: 52.84%
- Memorize the Audit Opinion – “Cheat Sheet” for entire section
- Be familiar with Internal Control
Business Environment
| Qtr | Qtr Pass Rates |
|---|---|
| 1 | 61.76% |
| 2 | 76.92% |
| 3 | 69.89% |
| 4 | 60.77% |
Average: 65.56%
- Shortest test, 72 questions altogether
- Prepare for Written Communication portion
- Relevant, concise, organized
Financial Accounting
| Qtr | Qtr Pass Rates |
|---|---|
| 1 | 46.37% |
| 2 | 62.86% |
| 3 | 55.67% |
| 4 | 43.53% |
Average: 49.98%
- Statistically the hardest section to pass
- Schedule extra study time
Regulation
| Qtr | Qtr Pass Rates |
|---|---|
| 1 | 55.42% |
| 2 | 75.97% |
| 3 | 66.12% |
| 4 | 58.00% |
Average: 62.29%
- Taxation questions comprise over 60% of questions
- 3-hour test, good for building confidence
CPA Exam Tips
Review Course – 100% recommended to prepare for exam.
Don’t study using multiple choice questions only.
Complete a high-quality, accredited master’s program. The University of Scranton’s online Master’s in Accounting is ranked in the top 15 online degrees with the best CPA exam first-time pass rate.
Choose your strongest section to start. That’s the one most relevant to current work or recent course completion.
Create in-test timeline, detailing how long each section and question should take.
Studying to pass the CPA exam doesn’t have to be a daunting task. Just stick to an organized and action-based study plan, like the Wiley CPA Excel. Starting with your strengths while being aware of historical data will also help you pass.
Sources:
- https://www.aicpa.org/becomeacpa/cpaexam/psychometricsandscoring/passingrates.htm
- https://www.efficientlearning.com/cpa/
- https://crushthecpaexam.com/first-cpa-exam-section/
- https://rogercpareview.com/blog/10-little-known-facts-about-passing-cpa-exam
- https://ipassthecpaexam.com/cpa-aud-exam/
- https://www.accountingedu.org/top-15-masters-degree-programs-in-accounting-for-2018/