The American Institute of Licensed Public Accountants (AICPA) writes and scores the Uniform Licensed Public Accountant Examination (the CPA Examination). The CPA Examination has 4 components: Auditing and Attestation (AUD), Enterprise Surroundings and Ideas (BEC), Monetary Accounting and Reporting (FAR), and Regulation (REG).
The shortest examination is BEC at 2.5 hours in 2010. (It expands to being three hours lengthy in 2011.) Evaluate that to FAR which stretches out to 4 hours. The excellent news is that you simply would not have to take multiple half at a time, in contrast to the outdated days if you sat for all 4 sections over a interval of two days Exam Tips.
Like AUD and REG, FAR has two kinds of questions: a number of selection questions (MCQs) and Simulations. Simulations are small case research about which you’ll reply questions. Inside every Simulation, there’s a written communications query (a small essay) and a analysis query (just like trying up one thing on a search engine comparable to Google).
In 2010, MCQs are 70% of your rating, simulations are 20% and written communications are 10%. (Although there are two written communication questions-one in every simulation-only certainly one of them is graded. Sadly, AICPA doesn’t let you know which one.) In 2011, MCQs might be 60% of your rating and sims might be 40%. There might be no written communications in FAR in 2011.
FAR has a complete of 90 MCQs that are introduced to you in three units (or testlets) of 30 questions every.
Your first MCQ testlet is of medium issue as decided by the authorities on the American Institute of Licensed Public Accountants (AICPA). Your definition of medium issue is probably not AICPA’s so follow all of your MCQs again and again. Be ready to sort out some questions troublesome for you, even within the first testlet.