The CPA exam actually consists of four separate exams which must all be taken within eighteen months of each other and passing them will mean that you have earned your official certified accountant status and license. However, they are notoriously difficult, so you should be on the look out for any tips and tricks you can get your hands on to make them that little bit easier for yourself.
Revision
Learn from your past mistakes and give yourself plenty of time to prepare for the exams. It has been proven that people learn best in short bursts, so when your revise, focus for thirty minutes at a time and take ten-minute breaks in between each session. You will need to complete around two hundred hours of study per exam which is a huge undertaking, so it’s important to keep your goals in mind to motivate you.
You will need to dedicate yourself completely to this, so make sure there are no distractions, and let family and friends know that you might not be available during this time. The pass rates are not as high as you’d think; you need to be aiming to achieve at least fifty percent success, but of course the higher the score the better your employment prospects are going to be, especially if you want to work for the ‘Big Four’.
On the Day
Don’t waste all of that time you’ve spent revising by failing to prepare properly on the day. Make sure you get into a healthy sleep pattern a week before each exam, and don’t stay up late cramming the night before, as chances are you will not retain this information anyway. Eat a sensible breakfast of slow release carbohydrates that will keep you going throughout the exam, and make sure you take water in with you as there’s nothing like hunger and dehydration to make your brain grind to a halt.
Don’t forget any equipment you might need to take with you and turn off your phone; you don’t want your chances to be scuppered all because it has been assumed that you are trying to cheat. And finally, make sure you know exactly where your exams will be taking place, how to get there, and what time they start.
Exam Technique
Before you go into each exam, have an idea of what to expect. For example, you need to know how many questions you’re going to have to answer so that you know how long to spend on each. Read the instructions on the exam paper itself as they might contain important information and read each question thoroughly before you begin to answer. There is nothing more heart-breaking than writing an excellent answer only to find that you haven’t answered the question at all.
Brainstorm ideas before you start writing each answer and have an idea of how you plan to structure each answer, so that you don’t go off on a tangent or run out of time to get all of your points across. Double check any calculations you’ve done to avoid making silly mistakes which could cost you your license. After your exam, you can relax until the day of the CPA score release.
The CPA exam is a particularly foreboding one as so much rests on it. It is the key to professional success and a career that offers financial security as well as plenty of other perks. Years of preparation lead up to it, so it is so important to prepare properly rather than letting all of that effort go to waste. Dorm-room-biz.com has plenty of tips for students trying to start a business while they study, making it very handy if you’re planning to become self-employed as soon as you get your license.
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