Before devoting dozens or even hundreds of hours to their preparation, a lot of students and professionals ask themselves, “Is the CPA exam really that difficult?”
The Certified Public Accountant (CPA) Examination is a comprehensive test that consists of four parts and evaluates candidates’ level of knowledge in all aspects of public accounting.
It is widely acknowledged as being among the most difficult tests one can take in order to achieve standardized professional qualifications.
When the national pass rate for the CPA exam is about one in two, candidates who will eventually need to take the exam and are up against a failure rate of nearly half should use every resource at their disposal to give themselves an advantage.
We will address all of your concerns and issues regarding the difficulty of the CPA exam here in this study guide.
Is The CPA Exam Hard?
The exam to become a CPA is really challenging.
It is quite an undertaking in terms of planning, studying, and preparation, and it tests one’s understanding of concepts as well as their working knowledge in a wide variety of subjects.
In each of the four main exam sections, I was required to demonstrate that I had a thorough understanding of a wide variety of accounting concepts.
What Makes The CPA Exam Difficult?
There are a number of aspects that contribute to the CPA exam’s reputation as one of the most difficult tests for obtaining a certificate.
The huge quantity of material that is going to be tested has been cited as the primary cause of the test’s difficulty by the vast majority of test takers, which in turn necessitates a significant amount of time spent studying and getting ready for the test.
Each segment contains several different kinds of questions, and you have a limited amount of time to complete it. It also has multiple levels of difficulty.
Question Types
One of the exam’s sections uses various question formats, in contrast to the other three portions, which only use multiple-choice questions.
The test is divided into four components. It also includes simulations based on a certain task or circumstance and simulations of written communication.
Some of the questions will be multiple-choice, but there will also be other types of questions. The questions with several choices are challenging.
In many cases, there is more than one right answer; nonetheless, you are tasked with selecting the best option.
Questions involving task-based simulations and textual communication are separated into sections of the examination, which are referred to as “tests.”
Time Limitations
The time restriction for each of the four sections is four hours, which means that in order to pass the CPA, you will need to have completed a total of at least 16 hours of examinations.
You will be given an 18-month window beginning on the day that you pass the first section of the test, during which you will be allowed to take the following three sections of the test in any order that you choose.
This window will begin when you pass the first section of the test. A good number of applicants decide to start with the test that they believe to be the toughest and then move on to the others.
There is a hefty registration cost that must be paid, and that fee must be paid again if any part of the exam is attempted and not passed.
Which Part of the Certified Public Accountant Exam Is the Most Challenging: AUD, BEC, FAR, or REG?
As previously mentioned, the Certified Public Accountant exam consists of four sections, each subdivided into tests.
These sections test your knowledge of auditing and attestation (AUD), business environments and concepts (BEC), financial auditing and reporting (FAR), and regulation (REG).
The majority of students enrolled in the CPA program have reported that the FAR component was the most challenging.
We will review each section and the material that will be tested to help you be more prepared for the test as a whole.
Which Section of the CPA Exam Is the Most Challenging?
According to the data, the FAR is, without a doubt, the most challenging part of the CPA exam; the section only had a pass rate of slightly more than 46% in the first quarter of 2020.
When this data is contrasted with the Q1 pass rate for BEC, which was a respectable 61 percent, it becomes very evident that fewer people are achieving success with the FAR.
The cost is, of course, the final consideration to take into account. You are required to pay for and have an NTS issued for each segment, and the delivery time for these can range anywhere from several weeks to many months.
If you fail a section, you must wait until you have another opportunity to retake it, and then you can take it again.
The budget and the schedule can frequently be a significant barrier in the way of completing the task within the allotted timeframe of 18 months.
How Hard Is The CPA Exam In 2024?
The difficulty of the CPA Exam is a topic that comes up frequently, and it’s crucial to understand that while the core structure of the exam remains consistent over the years, certain factors can influence how challenging candidates perceive it to be in any given year.
Here are key factors to consider:
1. Content and Exam Structure
- The CPA Exam has four sections: Auditing and Attestation (AUD), Business Environment and Concepts (BEC), Financial Accounting and Reporting (FAR), and Regulation (REG). Each section tests specific knowledge areas and skills. Recent updates have included more simulation-based questions, which can be more challenging for those who prefer multiple-choice formats.
- Changes in accounting standards, tax laws, or auditing practices that are tested on the exam can increase the difficulty if you aren’t up-to-date with these changes.
2. Exam Pass Rates
- Historically, the pass rates for the CPA Exam are around 50% per section, which reflects its difficulty. However, pass rates can fluctuate slightly each year based on the exam’s content and candidate preparedness.
3. Study Materials and Preparation
- The availability and quality of study materials have improved, but so has the exam’s focus on higher-order thinking and application, which can be challenging if your study methods focus too heavily on rote memorization.
4. Personal Factors
- Your background in accounting, time available for studying, and test-taking skills can significantly impact how difficult you find the CPA Exam. Candidates who are fresh out of an accounting program or who have relevant work experience may find certain sections easier.
5. Recent Updates and Trends
- In 2024, any recent updates to the exam, such as the inclusion of new accounting standards or changes to tax laws, might make certain sections more difficult than in previous years. It’s crucial to stay informed about these updates and adjust your study plan accordingly.
6. Technological Changes
- The shift to remote proctoring in recent years has introduced new challenges, such as the need for a reliable internet connection and a distraction-free environment, which could impact performance.
Quick Links:
- Free Online GED Classes: Classes, Online Practice Test, Study Guides
- GMAT Score Chart: Ace Your GMAT Score Now!
- How Hard Is The LSAT Exam: The Truth About LSATs Difficulty!
- GRE Word List: Complete List You Must Know!
- How To Create An Online Course For Free?
Final Thoughts: How Hard Is The CPA Exam In 2024?
While the CPA Exam is consistently challenging due to its comprehensive nature, its difficulty in 2024 largely depends on individual preparation, changes in the accounting field, and updates to the exam content.
Staying current with these factors and using high-quality study materials are your best strategies for success.
