Becoming a CPA is one of the most important decisions you’ll make in your accounting career. It’s a choice that will provide extended career opportunities, including increased salary and job opportunities.
One part of the CPA Journey is passing the CPA Exam. Although the CPA Exam is difficult, with the right strategy and approach, you can pass! It’s important that CPA Candidates prepare for the CPA Exam in a way that best fits their learning and lifestyle.
CPA EXAM COST & FEES
Are you aware of all the costs and fees associating with taking the CPA Exam?
Some fee types associated with the CPA Exam include:
- State Board Application Fee
- NASBA CPA Exam Fee
- Registration Fee
- CPA Review Course Fee
- The AICPA Ethics Exam Fee
- CPA Licensing Fee
A sample breakdown of total cost to become a CPA:
|State Board of Accountancy Application Fees||$30-$200 (Varies by State)|
|NASBA CPA Exam Fees||$208.40 for each section|
|Registration Fee||$20-$75 (Varies by State)|
|CPA Review Course||Courses & Products|
|AICPA Ethics Exam||$129 or $169|
|CPA Licensure Fee||$50-$500 (Varies by State)|
Although the CPA Exam is a costly endeavor, it is well worth it once you’re licensed! It's an exciting time to become a CPA that includes many benefits.
As a CPA, you:
- Will have long-term job security, coupled with great flexibility
- Are seen as a trusted advisor and business consultant from day one
- Are at the forefront of the latest technological advances in the business world
- Will enjoy a better work-life balance
- Will receive a great CPA salary with numerous benefits
How to Prepare to Sit for the CPA Exam
Make a realistic study plan and stick to it. We always emphasize that the key word here is realistic. Anyone can make a study plan—but making one that you can stick to is the real challenge. Figure out how many months you want to take to pass and then divide all the material accordingly. We have great customizable study planners that you can tailor to fit your lifestyle and study needs, so definitely use them to keep yourself organized and on track.
Review the CPA Exam Blueprints. The Blueprints are a free study resource provided by the AICPA once or twice a year. The Blueprints let you know what’s going to be on the CPA Exam, including Exam contents and how it will be tested. CPA Candidates often underutilize this important resource when preparing for the CPA exam.
Create a conducive study environment. Similar to the phrase, “You are what you eat,” we like to say, “Your study environment determines your study mood.” Candidates often overlook this factor. If you don’t feel motivated to study whenever it’s time to hit the books, it’s time to analyze what your study setup looks like. If your study area is cluttered or stuffy, rethink your feng shui. Create a study space for yourself that is clean, organized, has plenty of light, and is away from noise or background distractions. This way you create a study environment that puts you in a studying mood rather than just waiting for the feeling of studying to strike you.
Get rid of all your distractions.You know yourself best. What is it that distracts you from putting in a good few hours’ worth of study time? If it’s social media, delete the applications from your phone. If it’s your phone, turn it off and put it in a drawer. If it’s Netflix, delete your subscription! You get the idea. Be honest about what it is that’s keeping you from being most productive and find temporary solutions to get rid of them during study time.
Find which study technique(s) work best for you. There are a lot of different ways that people study. Your job is to find the technique that works best for how you learn and retain information. A good starting point is following your review course’s study recommendation and then tailoring it from there. Some candidates prefer watching lectures first, doing practice questions second, reviewing the areas they are weaker on third, and then doing a final review for every chapter. Others prefer writing important concepts and topics down while following along with the lecture video while others work on practice questions before diving into the lectures. And the list goes on. It may take some trial and error before you find out which methods are most effective, but once you find your study sweet spot, the rest is history!
Study in the morning and review at night. When’s the best time to study? We get this question a lot. If you’re a current college student or a working professional, or both, finding time to study can be hard if you already have a full day. In fact, it’s probably the last thing you want to do when you come home. Our best advice? Study very early in the morning and review what you studied that morning at night by using flashcards or doing practice questions. We have found that most candidates find this method to be the most effective since there are less distractions early in the morning and they have better, more optimistic energy and focus. If you’re not a morning person, you can train your mind and body with routine and repetition. We recommend studying at about 4 or 5am until you have to leave for work or school. You can reinforce the concepts you learned later in the evening, allowing yourself to rest and not have to learn new material when you’re already tired and your focus is waning after a long day.
Garner support from family and friends. Don’t underestimate the amount of love and understanding that comes from your biggest supporters! Let them know that there will be times you’ll be unavailable as you study for your CPA Exam, and let them know in advance what it is you need from them in order to be successful in this endeavor. It could be having your mom only call you once a week or letting your friends know that you can only designate 1 or 2 Saturdays this month to hang out. Also utilize your loved ones as people you can share this experience with. You will have ups and downs throughout the process, so talk to them about your anxieties and struggles. The worst thing you can do is keep it all to yourself!
Reward yourself often for reaching goals. Finding motivation to study is one of the biggest struggles CPA Exam candidates face. Because you’re essentially studying for months and doing the same study routine every day, you won’t always be excited to hit the books. However, many candidates have found it helpful to set miniature goals and then reward themselves when they reach them. You can do this on a daily, weekly, or monthly basis, depending on how much motivation you need. For example, if you accomplish your study goals for the day, reward yourself with an episode of your favorite Netflix original. If you accomplished your study goal for the week, reward yourself with a night out with friends. If you met your study goal for the month, reward yourself with a weekend camping trip or a new pair of shoes. Setting small goals and rewards promotes healthy study habits and keeps you sane. It also helps you push yourself steadily with the end result in mind.
Take care of yourself. And last but not least, being successful on the CPA Exam involves taking care of yourself. You can’t stick to a study plan or study at all if your body and mind are not in a healthy state. With that being said, make sure you’re getting enough sleep, eating right, exercising, and not getting burnt out.
Take the SmartPath to CPA!
Remember—there’s no shortcut to passing the CPA Exam. You just must put in the time and effort! As Roger Philipp, CPA, CGMA, always states, the CPA Exam is not an IQ test; it's a test of discipline. And once you're done, it will all be worth it. We make it easy with our patent pending Smartpath Predictive Technology™ that helps you pass the CPA Exam faster with data-supported targets based on the performance of successful students. So, you’ll get exactly what you need to pass the Exam.
Preparing for the CPA Exam Q & A
The amount of time it takes to prepare for the CPA Exam depends on the candidate. A typical CPA candidate spends approximately 300 – 400 hours preparing to pass all parts of the exam which equates to approximately 1.5 – 2 hours per day. However, a more true indicator of the time it takes to prepare for the exam is the comprehension level of the candidate.