Guest Blog: Passing the CPA exam is not about intelligence...

I'm happy to introduce my guest blogger today, Aparna Sathi. She recently passed all CPA exam sections on the first try. She shares her approach and tips to help you pass the CPA exam.

It was a sweet coincidence when on the very day I was reading my journal from last year; Donna asked me if I could write something about my experience with studying and passing CPA.

My journey started last summer after I quit my job as an audit associate to move to a different state so I could stay with my husband. Considering the tanking economy and the fact that I absolutely loved my job, it was one of the hardest decisions for me. But on the plus side, I knew that this would give me a chance to pay full and undivided attention to passing the exam.

Simulations… without Anxiety

Lately, I've received several questions about simulations and understand the anxiety they can create. Here is my method for simulation prep and my exam day strategy. I hope you find it helpful as you prepare for your next CPA exam.

SIMULATION INFO AND PREP

Under the current format, three sections of the CPA exam contain simulations (condensed case studies) and constructed response (writing sample), presented together in testlets, but graded independently.

The simulation portions are worth 20% of your exam score, while the constructed responses are worth 10%.

A maximum of 70 points are possible from the MCQs and candidates must earn points on the simulations and written responses in order to pass. Many students become anxious about these testlets, but this can be overcome with adequate preparation and strategy.

The specific topic on your exam will be anyone's guess, so be sure to follow the content guidelines for the exam you're taking. Anything you study for the multiple choice portions is fair game for a simulation or written response. The instructor for your prep course may indicate specific topics where a simulation is more or less likely, but candidates should be prepared for anything.

Simulations come in many formats: matching, fill-in-the-blank, categorizing, research - you name it!

Work as many practice simulations as possible, using your CPA Review prep software to become familiar with different format possibilities. If you know how to search with Google, you can handle the research tab. Focus your efforts on finding the magic keywords.

Do the simulation testlets included in your practice exams during your final review. It is important to know how much time YOU need to be successful in these sections before sitting for your next Exam section.

The constructed response requires specific preparation. Practice creating written responses within a 10-15 minute time limit, using proper business writing techniques and formats.

Practice in the same way you will be required to perform in the exam (don't look up answers or submit an outline).

Read the information provided by the AICPA for requirements and scoring specifics here.

DONNA'S EXAM DAY STRATEGY:

1. Begin by reading the written communications tab. Start thinking about your response and jotting down notes and details on the scratch paper provided.

2. Read the situation and directions for the remaining tabs. Check the resource tab for additional information. There may be facts in these tabs that you need to know or will be helpful for your constructed response.

3. Carefully read the constructed response instructions; do what is asked; STAY ON TOPIC!

4. According to cpa-exam.org: "Written communication responses are scored on the basis of three criteria: (1) organization (structure, ordering of ideas, linking of ideas one to another); (2) development (presentation of supporting evidence); and (3) expression (use of standard business English). Responses that do not address the assigned topic are not scored." Note that responses are not scored for accuracy of information. Simply put: if you do not know the answer, use information you do know about the topic to intelligently respond, focus on your writing skills to meet the 3 criteria and move on.

5. Some candidates use the research tab to find information for use in the written portion. This could be a huge waste of valuable exam minutes and should only be attempted if your memory hasn't been triggered in the other tabs and you draw a complete blank on the topic.

6. Exam functionality allows candidates to split the simulation screen between 2 tabs, not the same tab; this limitation may require scrolling up and down to refer to directions and respond - use your scratch paper for notes to simplify the process.

7. Watch your timer! Target 10-15 minutes to write and proofread your written response. Finish the written portion first to secure 10 solid points before working the remaining tabs.

8. Work the remaining tabs, beginning with those you are most confident with; read the instructions carefully and enter your answers carefully.

9. Use the functional tools (calculator, spreadsheet) if you need them.

10. During the CPA exam, you do not lose points for incorrect responses, but you don't receive points for items left unanswered. Fill in an answer for every blank!

11. If you find yourself running out of time, use your last minute or two to make sure you have filled in as many answers as possible (even if this means guessing).

Practice this approach during your final review and make adjustments to your personal strategy as you see fit.

Consider the fact that an outstanding performance on MCQ will relieve some pressure from performance on simulations.

If you have specific questions for me, feel free to ask them here, visit my personal blog, my formspring.me page, or follow me on Twitter.

Best wishes for success on your next CPA exam!

This article was also published on Another 71 - The CPA Exam Community May, 2010.

Donna, Please tell us which material you used & how to prepare for regulation -Jen

I used Becker materials (Online & CD-ROM course, Pass Master, flashcards, and Final Review product) to prepare for each section of the exam. This sounds like a lot, but they all work together. Becker’s online course is a duplication of their CD-ROM course (without simulations and practice exams) but allows access to materials anywhere you can access the internet.

How to use the materials for success:

Your Study Zone

Each CPA candidate has different circumstances, living arrangements, and requirements for focus. I found the workstation I used at home during undergrad study to be inadequate for graduate classes and CPA exam prep, perhaps due the volume of material to memorize, time constraints, or because it was in the middle of many distractions. I set out to study at the library, but found it too distracting (not everyone obeys the "quiet" signs). Coffee shops are also too busy for me to get much studying done.

I have no office space at home, so I had to be creative. After a few failed locations, I settled into a corner of the basement (see photo). The table faces the wall, with a window to the right for sunlight. With my back to the room, I was not distracted by others when wearing earplugs or listening to lectures.

When preparing your study zone, aim to:

Scheduling CPA exam prep time

Learn, practice and review... all with a busy schedule? Yes, you can do this. I applied many of the Strategic Learning methods with great success during my preparation for the CPA exams. I prepared using the Becker CPA materials, including the instructor-moderated online course, CD-ROM course with PassMaster, full flashcard set and Final Review product for all four exam sections. Regardless of your choice in preparation materials, success comes from learning, practicing, and reviewing every day.

One of the most important aspects of preparing for the exams is cyclical review, but few students plan for this. I've included my FAR learn, study and review calendar for your reference below; I followed this to the letter to prepare and pass FAR. In my schedule, two new chapters are covered each week, with weekly reviews of earlier topics conducted on Sundays. This schedule assumes roughly 4 hours of prep time daily. I’m happy to answer questions about scheduling your prep time (post in comments).

Which order should I take the #CPA exams in?

Option 1: Consider your strengths. Customize your exam order to begin with areas of greatest knowledge. The goal with this approach is to build up confidence while progressing through each exam section. For example, if IT and business concepts are your strong point, start with BEC. If taxes are a breeze, begin with REG. If you are the guru of GAAP & GL entries, take FAR first. If you know GAAS inside and out, begin with AUD. When you prepare for your most worrisome exam, you will have taken three exams and be most comfortable with exam format, timing, and the Prometric process; your prep time can focus fully on material.

Option 2: Focus on your weakest areas to overcome fears. This approach times the candidate’s 18-month window to begin once the most challenging exam is passed, minimizing the chance for expiration of passed exams. Many suggest taking FAR first, because it has the greatest volume of topics and certain topics apply to other areas.

Personally, I prefer and applied option 1. This approach worked well for me and I believe people enjoy greatest success when focusing on strengths.

I graduated with honors. Why can't I pass the CPA exam?

Clearly, academic ability is generally a benefit in life. A student who understands the expectations, has aptitude, and strives to meet those expectations can generally be successful in school, enjoying additional success in life. However, academic courses are short-term in nature and long-term retention is not every student's focus.

Many students know how to complete assignments and study for upcoming exams, meeting the immediate requirement for the desired grade. However, students often fail at long-term retention of details because focus shifts to the newest assignments after a chapter, topic, or term is over. Tutors refer to this as the "glib student." If this sounds familiar, there is hope. Long-term retention can be achieved with proper learning, study and review techniques.

Perhaps you were never taught how to learn, study and review to achieve long-term retention. The Academic Skills Center at Dartmouth College offers excellent resources for Strategic Learning, time management, notetaking, reading improvement, and stress management. Time is well-spent viewing this short video and using the proven techniques. If you have an excellent academic record yet struggle with the CPA exams,  improving your learning, study and review techniques may be just what you need to pass the CPA exams.

When is the best time to study for the CPA exam?

This depends on your schedule and preference. Your goal is to study frequently, EVERY day. Use a single block of hours, many 15 minute power bursts, a marathon-study weekend, or any combination of these approaches. Start the day studying to take advantage of a brain that is fresh, alert and ready to learn or study in the evening to promote subconscious review during sleep. Study during your public commute might make it go by more quickly.

My favorite time to study was during and following a brisk walk, to take advantage of the increased blood flow to the brain. I set aside blocks of time each day to watch lectures, work MCQ and practice simulations at my computer. However, I was often seen flipping through my flashcards while in line at the grocery, in a doctor’s waiting room, and while a passenger in a car – each minute counts!

After intense study periods, take short “mindless” breaks, doing yard work, housecleaning, playing with your dog, resting, etc. These breaks allow your brain to absorb & solidify the most recent material and “make it stick” before adding new material. It is very helpful to set a schedule with goals for daily study time and record progress at day’s end. Be honest with yourself – does that hour of “study” during Survivor count? Each new day brings new opportunities and choices to help you pass the CPA exam.

What will your next CPA exam be like?

You decide! First think about it. Think about the specifics, the details. Now close your eyes and picture what it looks like. See it as if a photo on your desktop (see my example). Your brain is sharp, clear and efficient. You feel assured as you read and answer each MCQ. You are right on schedule. You remember details and click radio buttons with confidence. You respond to written portions with professionalism, clarity and proper grammar. You rock each exam and know it. This is not only how your CPA exams end, this is how they begin.

Welcome

…to my first blog. I never planned on blogging, but had several requests for a blog, so here it is.
If you're looking for commiseration, complaining, or excuses you won't find any here. I don't believe that's what any CPA exam candidate really needs.

What you will find here are the proven practices, study tips and encouragement I used to pass all four sections of the CPA exams on my first attempt. I'm sharing to help CPA candidates reach the goal of passing the CPA exams. I will endeavor to keep my posts concise - if you're preparing for an exam, you don't need to waste time reading a long blog post!