AICPA CPA Exam
The AICPA is the American Institute of CPAs. The AICPA is the voice of the accounting industry and supports important public interest issues and awareness of CPAs. The AICPA also offers many networking opportunities as well as education opportunities and assessment tools. The AICPA CPA exam is required for all CPA candidates in order to apply for a CPA license.
The CPA exam is a four part exam that must be taken (and passed) within an 18 month window. So, if you take the first exam, and don’t pass the other three parts within 18 months, you must retake the first exam again. Therefore, time is of the essence for CPA candidates. Most CPA candidates take each of the four parts of the AICPA CPA exam separately, in hopes of increasing their chances of a passing rate, however, you may take the exam altogether if you choose.
The AICPA CPA exam is a called CBT-e, which is Computer Based Test-evolution. In 2011, the AICPA CPA exam underwent the first big changes since becoming a computer based exam. The scoring weights were changed, as well as the time allotments for each section. There was some speculation as to whether the AICPA would change the passing rate of the AICPA CPA exam, but it remains the same at a 75 passing score. The passing rate is less than 50%, and less than 3% pass all 4 parts on their first attempt.
Best Study Material Option
Because the AICPA CPA Exam is so difficult to pass on the first attempt, the study materials that you choose are very important. There are a lot of great CPA Study programs available out there. Many offer live courses, lectures, textbooks, flashcards and more. Once you have chosen the best study program for you, it is highly recommended that you choose a supplemental study guide for the AICPA CPA Exam. CPA Army now offers a great CPA Boot Camp™ that helps you through your other study courses, by offering a comprehensive CPA study guide, study tracker and schedule, as well as notes and hundreds of flashcards. It is also the least expensive option out there, at only $29.95.