Top 7 Reasons to Sit for the CPA exam before April 2017
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By Rebecca Langdon
As you may or may not know, the format of the CPA exam is going to change from April 2017. There are a number of reasons why it would be beneficial to sit before the format changes. These are the top 6 reasons:
- The new exam is expected to be harder
The current exam tests two core skill sets; knowledge and understanding, and application. However the new format will test four core skill sets; remembering and understanding, application, analysis, and evaluation. The additional testing of analysis and evaluation will increase the difficulty of the exam as these are considered to be higher cognitive skills.
- Task-based simulations are increasing
The AICPA will increase task-based simulations from 40% to 50% on the FAR, AUD and REG exams. They will introduce task-based simulations to the BEC exam.
- Multiple choice questions will decrease
The number of multiple choice questions will reduce to make way for task-based simulations which encourage critical thinking.
- You will have to wait longer for your results
The AICPA has indicated a 10 week delay after the initial testing window when the new exam is released. This means you will have a gruelling wait to know if you have passed or now.
- The testing time will increase from 14 to 16 hours
This is to make way for the reduction in multiple choice questions, and the increase in simulations.
- The exam will be more expensive
As the testing time is increasing, the exams will be more expensive.
The sooner you pass the CPA, the sooner you can receive your accreditation and kick start your career.
Plan to Pass before April 2017
You may be reading this and have passed none of the exams yet, or perhaps you are part way through. The good news is that if you are ready to sit your exams and want to finish before the new exam format is introduced, it is entirely possible. As an example you could sit the exams as follows:
- First section: beginning of September
- Second section: end of October
- Third section: beginning of November
- Fourth section: end of January
This timetable provides a break in December, but also leaves some time in case of any retakes. This timetable may seem compact, but it is entirely possible, particularly with the support of Morgan. We offer a range of study options and can help you to fast track your learning with the aim of passing all of your exams before the format changes.