Prepping for Exams

Although preparing for any exam can be painstaking and sometimes even expensive, it is a necessary toll to pay in order to reach the advancement in someoneā€™s chosen career and this applies to any of the higher accounting exams such as CPA (Certified Public Accountant), CMA (Certified Management Accountant) or CFA (Chartered Financial Analyst).

In the cases of CPA and CMA there are various different study courses you can buy so as to try and ensure you are fully prepped for the relevant exam and with the CFA there are various cfa exam prep programs available. Often the difference between passing and failing one of these exams depends on the course or program a student decides to use in order to fully prep them. Each of the study programs or courses use different study techniques and so for the best possible results, a student needs to choose the one which best suits their study method.

Some of the lectures in some programs can be very long, perhaps lasting as long as 3 or 4 hours each which may be good for those that have the time to dedicate such long sessions to studying but for those that can only study during an hour or two stolen here and there, shorter sessions may be more beneficial. Many of the different courses offer free trials and so one of those free trials may be a good option to make use of in order to ascertain what type of study method the course follows. The free trials are certainly beneficial as the cost of many of the different courses can be high and so you would not want to spend an excess amount of money on a course whose study methods are not particularly conducive to preferred method of study.

Each of these exams will take a long time to study for with the CFA exam for instance being taken in 3 separate Levels, one level each year, and each advanced level only being able to be taken on a pass on the previous level. The pass rate for all 3 levels in the CFA exams is only 20% and the rates in the CPA and CMA exams are only about 50% which means the exams are extremely hard or too many people are using the4 wrong study courses for their preferred study techniques.

As passing any of these exams will afford someone the opportunity to work in the top jobs in the accounting profession, the students obviously think that the price of the study materials and the cost of the exams are worth it, even though they have relatively low pass rates. The benefits to passing though are considered so high that many students that fail, once again spend time and money in the hope of passing on their second attempt and some even have more than two attempts. When a student does sit an exam for the second or third time, they will usually have prepped with a different course or program than they had for their first attempt.