Before working in my current position as a senior tax associate, I was helping people […]
Tag: FAR
Here’s a Nightmare Scenario to Add to Your CPA Exam Anxiety File
Thinking back to posts about missing CPA exam scores we’ve written over the years on […]
Why Now Is the Time to Study For the CPA Exam and Why FAR Should Be First
Not sure if you’ve heard but the world is a little topsy-turvy these days. Many […]
Let’s Figure Out How This Person Bombed the CPA Exam More Spectacularly Than Any CPA Exam Bomb in History
Ed. note: an earlier version of this article contained the name of a review course […]
CPA FAR is Hard, and That’s Okay
The FAR section on the CPA Exam is hard. Don’t believe me? Just ask the […]
IFRS 15 Will Not be Tested on the CPA Exam Any Time Soon
As all of you should know, any new pronouncements are usually eligible for CPA exam […]
Apparently a Few CPA Exams Were Incorrectly Graded as Failing When In Fact They Passed
Jeff at Another71 is reporting that his forums were abuzz over the weekend with word […]
After Being Told His CPA Exam Was Lost, One Candidate Gets Some Good News
Anyone remember the poor bastard who was told by NASBA that they lost his entire […]
Four Time FAR Failure Finally Pulls Off a Victory to Live Happily Ever After
It's score release time and many of you know what that means… either discreet squeals […]
Here’s Your CPA Exam Scores Open Thread for the April/May Testing Window
If you passed, congrats! If you failed…well, we still love you but you may be hopeless.
Sounds like people are getting anxious for REG scores now, so keep us updated for when NASBA drops the word.
UPDATE:
AUD scores have no been released.
Curious CPA Exam Candidate Wants the Scoop on Simulations
I’m digging deep in the mailbag for this one, only because you kids have been awfully quiet lately (a sure sign that we’re in a blackout month). If you have a CPA exam question, comment or complaint for us, please let it launch. Come on, you’re going to be sitting around for the next 2 – 3 weeks waiting for your scores, might as well.
Adrienne,
I was wondering if you could go over what the simulations entails in FAR. I understand that the multiple choice contains 30 questions, and that there are 3 testlets. However, does the break down for the 7 simulations include more than one part.
For example, I know you will have a problem say leases, maybe a research question…but is that 1 simulation or is that 2 of 7?
Thanks,
Recent Grad…miserable studying…
Let’s defer to the good ole AICPA on this one, you can never go wrong getting info straight from the source. From How the CPA Exam Is Scored:
In addition to multiple-choice questions, the AUD, FAR, and REG sections also contain task-based simulations. Task-based simulations are case studies that allow candidates to demonstrate their knowledge and skills by generating responses to questions rather than simply selecting the correct answer. Task-based simulations typically require candidates to use spreadsheets and/or research authoritative literature provided in the Exam.
Well that’s not very helpful, is it?
In FAR, you’ll encounter 7 task-based simulations, of which 6 will be graded. You don’t know which TBS is pre-test so you have to go into it as if they are all graded.
Assume that each of your simulations will be on a different topic and will only require you to complete one tab. You may see more than one research question so be sure to get in some practice in that area (and access your free 6-month subscription to the authoritative literature if you haven’t already – note that you must have a valid NTS to sign up for this).
In previous versions of the exam, one simulation consisted of several tabs. You’d have to get through two of them in 45 minutes a piece and hope you filled in enough tabs to pass. In the latest incarnation of the exam, however, you will receive more varied topics. This works in your benefit as you have a better chance of getting TBS problems on areas you feel comfortable in, whereas in the old exam you had to hope and pray you didn’t get a simulation on a topic you didn’t study well or suck hard in, as you were just about guaranteed to bomb it.
Then again, in the old exam you could blow the sims and still have a chance to pass. Nowadays, however, you don’t have that luxury as simulation problems carry a heavier weight point-wise.
That said, you’ll want to do the tutorial on the AICPA’s website. While review course materials can come close to simulating the actual exam environment, the CPA exam remains the intellectual property of the AICPA, therefore no review course can copy simulation problems exactly. But since the AICPA provides that tutorial, it has the exact look and feel of the questions you will see on the exam.
CPA Exam Candidate Attempts to Stop Attempting and Actually Take the Exam
From the mailbag:
Hi Adrienne – I have been “attempting” to pass the CPA exam for a few years now – and I must say I’ve never taken the exam or the goal to pass the exam seriously…up until now.
Hold it. Before we get to the second half of this question, we need to address the quotation marks. Obviously OP is trying to make it clear that studying has not been high on the priority list and we recognize this tactic as a CPA exam candidate trying to repent for non-studying sins. This isn’t the confessional but we’ll accept the confession nonetheless; it shows a desire on the candidate’s part to acknowledge what they have done wrong up until this point, which is halfway toward fixing it.
Continuing:
I took BEC on 4/4/2011 and REG on 5/14/2011 (today). I am registered to take FAR on 7/9/2011. My question is: Should I start studying for FAR now and try to take in July, or should I wait until I get my BEC/REG scores and if I score below a passing grade, try to take those in the July/Aug testing window? What should be the plan of attack – retake a recent exam, or jump to the next section? Considering I wont be getting my BEC/REG scores until the end of June, I feel like precious study time will get wasted if I just wait around for those scores…
In a follow-up with OP, we discussed how he felt when he was done. “I can’t say I felt on top of the world when I left prometric – I had more of a numb feeling than anything else. The sims were ‘interesting,’ and the MCQs were pretty challenging too…I put a solid six/seven weeks for this exam following Bisk’s recommended study plan.”
With scoring a little jacked up through the end of this year, you should probably move on to the next section as if you passed. If you did, you made the right decision. If you didn’t, you’ll just have to go back and study it over. You don’t necessarily have to start from scratch but let’s not think about that, let’s assume you passed.
You don’t mention Audit so I don’t know what your 18 month timeline is but if you have the flexibility, you should usually try to plan for the strategy that costs you the least amount of time so you actually have the time if you need it.
You’re right not to wait and just go on to the next section.