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Guessing – the chances of candidates answering the question correctly just by guessing.Discrimination – how well the question differentiates between more able and less able candidates.Difficulty – whether the question is generally easier or more difficult for candidates.It rates questions according to three statistics: The AICPA uses Item Response Theory (IRT) to figure out the relative value of MCQs and TBSs. Every candidate is held to the same standard. The CPA Exam is not curved in the traditional sense. The CPA Exam is what is known as a criterion-referenced test, which means every candidate’s performance is measured against established standards to determine whether the candidate has demonstrated the level of knowledge and skill represented by the CPA passing score. The minimum CPA Exam passing score is 75 points, but that doesn’t necessarily mean you need to answer 75% of questions correctly in order to pass. The human grading process can push the release of a BEC score back by a week or so. MCQs, TBSs, and WCs are all graded electronically however, WCs may be reviewed and regraded by human scorers if a candidate’s score is very close to 75. The CPA Exam is scored in a largely automated process. After you apply to your state board of accountancy, you will schedule and sit for your exam with Prometric.
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The CPA Exam is administered at Prometric test centers in partnership with the National Association of State Boards of Accountancy (NASBA). The AICPA is ultimately responsible for the creation and maintenance of the CPA Exam. Through the development process, these experts ensure that testlets and exam versions will be graded and scored equitably on a comparative basis. Exam questions are created and vetted by experts in the fields of accounting, psychometrics, and test development. The AICPA contracts with third parties to produce multiple-choice questions (MCQs), task-based simulations (TBSs), and written communications (WCs). Passing this exam confirms you have the competence to practice in a highly specialized field.
#Cpa study material 2016 professional#
To that end, the exam also tests related business skills, the ability to conduct oneself skillfully and with good judgment, and understanding of professional responsibilities and ethics. The AICPA’s goal is for every candidate who passes the exam with the minimum passing score of 75 to reflect positively on the profession. It is designed to measure professional competence in auditing, business law, taxation, and accounting. Passing the CPA Exam is one of the four requirements to become a CPA. Learn more in our guide to scheduling the CPA Exam. Are you someone who, no matter how hard you try, will never get work done over the holiday season? Consider that when scheduling your exam. While passing still depends largely on how well prepared you are, you should still be aware of the way your environment affects you and craft your study plan in a way that gives you every possible advantage. Still, walking through this reasoning is important because there are critical factors for candidates to consider outside of the CPA Exam itself. Recent graduates who began the testing process as a student are largely able to complete the testing process by the end of Q3, and so aren’t contributing to the average in Q4.Īccounting coursework overlaps with many CPA Exam topics, so current and recent students tend to perform well on the exam. Q4 (October-December) pass rates could be low due to the holiday season, much like Q1. This sets them up to do very well when they sit in Q3. There are very few holidays during that time, and many students probably want to finish so they don’t have to study during the holidays later in the year. Students who graduate in May have all summer to study for the next section. Q3 (July-September) is a perfect time for college graduates to take a section of the CPA Exam. While they do pass at a high rate, they are not quite as prepared as they might have been in Q3. They don’t have much time to study immediately after classes end, so most likely they have been studying while classes were in session. Q2 (April-June) is the first chance most college graduates have to take a CPA Exam section.
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Pair this with the fact that Q1 comes right after the holiday season, another time candidates probably find poorly suited for studying, and fewer people end up passing. People who work full-time probably find it hard to keep up with studying, so it falls by the wayside. Q1 (January-March) is the start of the busy season for tax accountants. When is the best time to take the CPA Exam?