How hard is the CPA exam really?
Asked by: Marge Lubowitz V | Last update: November 27, 2023Score: 4.7/5 (14 votes)
The short answer is that the CPA exam is difficult. It is perhaps not the most difficult professional exam (most claim that the CFA exam is harder), but it's definitely not easy. Prepare to spend 300+ hours studying in total.
Are CPA exams harder than the bar?
Just look at the pass rates for first time exam takers. You passed the bar, but the CPA Exam will be much more difficult,” came the advice from my CPA friends. My attorney colleagues had this to say, “Well, after studying for and taking the Bar Exam, the CPA Exam will be a piece of cake for you.”
Is it common to fail the CPA exam?
Just know that you're not alone—the CPA Exam is hard. The CPA Exam has a pass rate of around 50%. So, though millions of candidates have passed the CPA Exam, many first faced failure along the way. Remember, not passing the CPA Exam doesn't mean you can't do this.
What are the odds of passing all 4 CPA exams on the first try?
The overall pass rate for each section of the CPA exam hovers around 50%, but how many people manage to pass all four sections on the first try? About 20%. Around 1 in 2 people will pass a specific section of the exam, and about 1 in 5 people will pass each section on their first try.
Is passing the CPA exam a big deal?
CPAs Get Better Opportunities
It doesn't matter whether you are working as a public accountant or an internal accountant at a company. Once you pass your exam, doors will open for you. Public firms will allow you to advance up the hierarchy into senior positions that could even lead to becoming a partner one day.
How Hard Is The CPA Exam? (EXPERT GUIDE)
How many people pass CPA on first try?
About half of the individuals who take the CPA Exam don't pass on their first attempt. According to the AICPA, the national average pass rate is 45-55%. Cumulative pass rates reported by the AICPA for the calendar year 2021 show that FAR had the lowest pass rate at 44.54% and BEC had the highest pass rate at 61.94%.
What percent of people fail CPA?
The Uniform CPA Examination pass rate percentages are released by the American Institute of Certified Public Accountants (AICPA) and historically average around 45%-55%, varying by quarter and section.
What is the average age to pass the CPA Exam?
CPA Exam Rate by Age
As per the National Association of State Boards of Accountancy (NASBA), the average age of qualified candidates in 2016 was 28.9 years at one of the examinations. In 2015, a NASBA report observed that the mean age of successful candidates was 29, with the median age being 25 years.
Which part of the CPA Exam is easiest?
Either way, BEC is considered the easiest part of the CPA exam because it has the highest pass rate. The AICPA highlights one reason BEC is higher is because it is the section most commonly taken last, giving students more experience with test-taking after taking other sections.
Is the CPA Exam curved?
Scores are not curved. When you fail an Exam section, you'll also receive a Candidate Performance Report that assesses your performance on that specific section. CPA Exam scoring is treated with a high level of importance, due diligence, and attention to accuracy.
Why do so many people fail the CPA?
Studying Inefficiently (Or Studying the Wrong Material)
Candidates who have disciplined study plans are more likely to pass the exam the first time around! Another common mistake that candidates make is not researching what specific concepts will be tested on the exam.
What is the hardest to easiest CPA Exam?
FAR had the lowest pass rates, while BEC had the highest. AUD had the second-lowest pass rate, and REG had the second-highest pass rate. Therefore, the pass rates tell us that the hardest section of the CPA Exam is FAR, and the easiest section of the CPA Exam is BEC.
Why is the CPA so difficult?
The sheer amount of material tested on the CPA exam is reason #1 why it is so difficult. In order to pass, candidates need to demonstrate they have a deep understanding of auditing and attestation, the business environment and related concepts, financial accounting and reporting, tax law, and current regulations.
What is the hardest subject in CPA?
- Auditing & Attestation. ...
- Financial Accounting & Reporting. ...
- Business Environment & Concepts. ...
- Regulation. ...
- CPA Exam sections—hardest to easiest.
- Among the four sections, FAR has a reputation for being the hardest. ...
- Scoring weights.
What is the hardest topic on the CPA Exam?
In many ways, the BEC section of the CPA Exam is the hardest section for candidates. While many exam students have education and experience in the areas of financial accounting, audit and tax, BEC covers content that some students may not have much exposure.
Is CPA hardest exam in the world?
The short answer is that the CPA exam is difficult. It is perhaps not the most difficult professional exam (most claim that the CFA exam is harder), but it's definitely not easy. Prepare to spend 300+ hours studying in total.
Which accounting class is hardest?
Tax Accounting: Usually some of the most difficult classes for an accounting major as they delve into the minutia of tax codes, though this knowledge is a major source of income for accounting graduates.
What is the shortest CPA Exam to study for?
There are several reasons why the BEC section is considered the easiest section of the four. In addition to the fact that it covers the least material and is of the shortest of the four exam sections, BEC also does not have any simulation questions; however, it does contain 3 written communication questions.
How do I pass my CPA Exam for the first time?
- Develop a Study Plan and Stick to It. ...
- Ensure Your Family and Friends Understand the Commitment You're Undertaking. ...
- Take Electives in Your Degree Program that Prepare You for the Exam. ...
- Practice, Practice, Practice. ...
- Don't Waste Time Studying what You Already Know.
Who is the youngest CPA in history?
Her name is Belicia Cespedes and she was just 17 years old when she passed her CPA Exam. You read that right, 17. Which pretty much makes Belicia the world's youngest CPA.
Is the CPA getting harder?
It is likely that the 2024 FAR core will be less difficult and contain less content than the 2022 or 2023 FAR exam you will take. The CPA Evolution Blueprint has moved some of the more difficult FAR topics (e.g., governmental accounting, derivatives, consolidation, etc.) into the BAR discipline track.
Is it impressive to be a CPA?
Highly-Esteemed Credential: CPAs are honestly considered as the best in the field of accounting since CPAs are finance professionals who have achieved expertise in areas that are way beyond a general accountant.
What is the lowest CPA pass rate?
Visit our BEC CPA exam guide for more information and tips! FAR: While we saw a slight increase from Q1'22 to Q2'22, that was short lived as the pass rate dropped below 45% on average for 2022. With a pass rate of 44.3% in Q3'22, FAR continues to have the lowest pass rate.
How long should I study for the CPA exam?
Studying for the CPA Exam
We recommend that you spend approximately 150 hours studying for the Financial section, 120 hours studying for the Regulation section, 90 hours studying for the Auditing section and 90 hours studying for the Business section. Here are tips for stress while studying for the CPA Exam.
What is considered a good CPA score?
According to the AICPA a high CPA exam score is anything over 85. Since less than 50% of candidates don't get above a score of 75, a score of 85 is in the top 10 percentile. Remember, the CPA exam isn't scored on a percentage basis. It is a standardized test that is scored on percentiles.