AGA SEMINAR

WEDNESDAY, MAY 202:35 UNTIL 3:25HOLIDAY INN

NORTH BOULEVARD

RICHMOND CHAPTERASSOCIATION OF

GOVERNMENT ACCOUNTANTS

CPA EXAM CHANGES AND UPDATE

JOE HOYLECO-FOUNDER

CPA REVIEW FOR FREEWWW.CPAREVIEWFORFREE.COM

ASSOCIATE PROFESSORUNIVERSITY OF RICHMOND

COMMENTS? SUGGESTIONS?QUESTIONS? IDEAS?

Jhoyle@richmond.edu804-289-8594

AND NOWA

PLUG FOR MY COMPANY

WITHOUT SPENDING A PENNY ON MARKETING

WWW.CPAREVIEWFORFREE.COMHAD

OVER THREE MILLION PAGE VIEWS IN THE FIRST 46 WEEKS OF

OPERATION

WHY SHOULD YOU CARE ABOUT THE CPA EXAM AT

ALL?

HOW DOES IT IMPACT YOU AND YOUR JOB?

(1) – You have already passed the CPA Exam and want to make sure they

don’t mess it up.(2) – You hope to pass the CPA Exam and are curious about what you face.

(3) – You are a member of the accounting profession and want the

reputation to stay strong.

HOW MUCH DO YOU KNOW ABOUT COMPUTERIZED CPA EXAM WHICH

STARTED IN 2004?Approximately, what was the increase in

pass rate with the computerized exam?A – No changeB – 2 percentC – 8 percent

D – 17 percent

If you want more information about every aspect of the CPA Exam, where should you look?

A – Intermediate Accounting Textbook

B – AICPA Candidate BulletinC – Journal of AccountancyD –

www.CPAreviewforFREE.com

According to Joe, the true secret to passing the CPA Exam is spending enough hours in study. How many hours (in total) does Joe recommend?

A – 10,000B – 2,000C – 800-1,000D – 250-400E – 150-250

In the “good old days,” candidates took all parts of the exam twice a year – at the beginning of May and November. Now, how often can you take each part of the exam each year?

A – UnlimitedB – 12 timesC – 6 timesD – 4 times

When Joe took the CPA Exam, it was 19 ½ hours long and began Wednesday at 1:30 and went to Friday at 5:00. How long is the total CPA Exam now?

A – 14 HoursB – 15 ½ HoursC – 17 ½ HoursD – 20 Hours

You are taking a part of the exam (except for BEC) and the multiple-choice questions seem to be getting harder.

A - That is your imagination.B - That is good news.C - That is bad news.D - You are getting tired.

You are taking a part of the exam (except for BEC), you can pass the exam by getting 100 percent of the multiple-choice questions correct.

A - TrueB - False

The CPA Exam has a curve on it so you do not need to get 75 percent of the questions correct in order to pass.

A – TrueB – FalseC – True and False

On all parts of the exam except BEC, there is a written communication question. That question is graded (at least in part) based on the content of the answer.

A – TrueB – FalseC - True and False

The CPA Exam is a state licensing exam. You must be approved by a state in order to take the exam. You must physically take the exam in the state in which you have been approved.

A – TrueB – False

The CPA Exam is a state licensing exam. Therefore, the CPA Exam can only be taken in the United States and a few territories such as Puerto Rico, DC, Guam, and the Virgin Islands.

A – TrueB – True for nowC – Absolutely false

You work multiple-choice questions in the first three testlets (30 in each testlet in every part but Regulation which has 24). All of these questions are graded and included in your score?

A – YesB – No C – Are you kidding?

On the average, how much state and local government accounting is tested on the CPA Exam?

A – 25-30 percent of RegulationB – 30-40 percent of BECC – 45-55 percent of RegulationD – 8-12 percent of Financial

Accounting

Sample question: Government accounting provides information to help which of the following: I – Users making political decisions II – Citizens interested in whether today’s benefits will be paid by citizens in the future

A – I onlyB – II onlyC – Neither I nor IID – Both I and II