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How To Pass The CPA Exam: The IPassTheCPAExam.com Guide for International Candidates by Stephanie Ng

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CHAPTER 2

What Is the CPA Exam?

In order to become a CPA in the United States, you need to fulfill the “Three Es” requirements: Education, Examination, and Experience. This chapter focuses on the second step, the Uniform CPA Examination. We discuss in length the educational and experience requirements in the next chapter.

Exam Coverage

Here are frequently asked questions on the coverage, format, and passing rate of the CPA exam.

What Does the Uniform CPA Exam Cover?

The exam is comprehensive, covering all accounting concepts and applications in financial accounting and auditing, together with related fields such as economics, business law, business ethics, internal control, financial management, risk management, information systems, regulations, and taxation.

There are four sections in the exam:

1. Audit and Attestation (AUD)—four hours
2. Financial Accounting and Reporting (FAR)—four hours
3. Regulation (REG)—three hours
4. Business Environment and Concepts (BEC)—three hours

We review the topics and study tips for each session in later chapters.

What Is the Exam Format?

The CPA exam is fully computerized. For FAR, AUD, and REG, the section consists of:

  • Three testlets (i.e., groups) of 24 to 30 multiple-choice questions.
  • One testlet of task-based simulation questions with six to seven questions, or three questions on written communications.

Multiple-Choice Questions

Multiple-choice questions are graded positively in this exam. In other words, there is no penalty for incorrect ...

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