jmjones4
offlineMember
Hey,
I am just curious as to what the percentage is of people who pass this whole thing the first time? I know its pretty low, but I just wonder if anyone has an actual number of the people who only take each part once.
Thanks!
CPA4AL
offlineMember
Pass rate for people passing all 4 parts on the first try is about 10% or less. Pass rates for each section is around 50%.
When you think about the odds, 50% x 50% x 50% x 50% is less than 10%.
I can't remember if those stat's come from the AICPA, Journal of Accountancy, or Becker...but I think that's crazy!
zena
offlineMember
This is from one of Jeff's posts: only 28% of those who sit for all four parts pass the first time. Find the whole thing at: http://www.another71.com/elijah-watt-sells/ - see under "Correction"
Jeff - another71.com
offlineadmin
yes...it's less than 30% first time pass rate.
45-50% of people who take a particular section pass it.
CapitalGains
offlineMember
Probably 20-30%. On a macro sale if you assume 50% pass the first time, you could likely use Bayes' Theorem to extend the conditional probability to four variables, one for passing each section, given the probability that the other sections have been passed, etc.
bbrowning911
offlineMember
Becker says less than 10% this is either in the Course review CD that you go through before you start studying, or in the beginning of FAR. Although I'm not sure that it makes sense to me, 4 tests at roughly 50%. 50%, 25%, 12.5%, 6.25%. Of course, that would mean that each individual persons chance of passing is completely random, like the flip of a coin. We know that this may be true for a person who has never taken a test before and we don't know his/her study habits etc. However, if a person passes his/her first test, then the chances are probably higher than 50% (at least slightly), that he will pass the second, third, and forth. I would be willing to bet that the pass rate for the second exam, of people who passed their first exam, is substantially higher than 50%. Even if it were 75% for the remainder of the exams, the following would be more approximately the first time pass rate. 50%, 37.5%, 28.125%, 21%. I would venture to guess that this is more likely. But like I said, Becker says less than 10%.
NJTProadwarrior
offlineMember
ummm... no.
tinkeltinkel
offlineMember
I think its comical when people compare the CPA exam to the Bar exam, medical exams, etc.
So many people take the cpa exam just to take it... never even pass one part, but they still go on to have successful careers in the accounting and finance world. Some people have to take it at their firm, some take it a few times and then decide to just flat out leave accounting, etc etc, and so on and so forth. I'm not saying this exam is easy by any mean.
How many people spend 5-8 years in undergrad/law school, and have to sit for the Bar exam more then twice.. and then just decide to leave the profession. These people are a lot more dedicated. Same thing with doctors. I'm not trying to take anything away from any diligent cpa studier, but come on people, there are 10000x more accountants than lawyers, doctors, etc. We are a dime a dozen, and all we need is a 4 years degree to take the exam, which our employer may or may not even require.
bbrowning911
offlineMember
TinkelTinkel. Bravo senor, excellent points all around, really swell job. Except the part about people going on to have extremely successful careers without passing the CPA exam (that really doesn't add to your point about the CPA exam not stacking up against the other exams does it? It fact it does quite the opposite and is rather irrelevant to your point). Also, people taking the CPA exams, aren't trying to be just "accountants" are they? They are trying to be CPA's. So when you compare those numbers to people who are actual lawyers, I'm not really sure that the numbers are that staggering. For example the American Bar Association has 400,000 members, while the AICPA only has 350,000. http://www.aicpa.org/MediaCenter/FAQs.htm#aicpa_answer6 and http://www.abanet.org/about/home.html. Oh and also, most states require 5 years of college units, and those states that offer to allow you to sit for the exams with only 4 require extra experience. Oh and also, you don't actually need law school to be a lawyer either, it's called the Law Office Study Program (LOSP) where you can trade in your extra schooling for actual experience under an already licensed lawyer (sort of like the 4 year thing mentioned above that requires extra experience that some states offer). http://www.ehow.com/how_2377162_become-lawyer-going-law-school.html. Keep up the good work TinkelTinkel, I know I speak for everyone when I say that I find your thoughts to be extremely inspiring. Nothing says keep up the good work like "Quit complaining, the test is really easy. Just be glad you don't have to take an actually hard test like the bar exam." Now I'm not disagreeing with you about which test is harder, frankly, I wasn't aware it was a competition nor am I aware why I should care about the Bar Exam at all as I am not actually in the process of taking it. However, unlike you, I will admit that my ignorance of the bar exam renders my opinions utterly useless and will not even purport to know a damn thing about it. But again, does it matter?
NJTProadwarrior
offlineMember
Really? I find it equally comical that "so many" people would pay our buddy Jon Corzine a boatload of money just to say that and pay the additional college costs for the 'privelage and prestige' of being fingerprinted, photographed, and patted down (OK,a little exaggeration there) and videotaped for four hours in a test center, for "nothing"
TheREAL_CPA_test
offlineMember
Ok. Looks like some of you have no clue what you are talking about. One response of, "...~50%" and another of over 30%. Granted, with the new testing process the numbers are up, devalueing those of us who tested all 4 parts at once.
So while a few of you are super proud of your first time passing--one section at at time and spread out over months, while it is an accomplishment, you did so by taking one part of the test at a time. That's like claiming to have run a marathon but running 6.5 miles one week, 6.5 miles the next week, and so on for 4 weeks. Yes you ran 26 miles but not all at once. See how the numbers of succes grow as you make the challenge easier.
Take 2 full days and test all 4 parts and lets see how you do. Then you can brag.
herbert7890
offlineMember
@ TheREAL_CPA_test - Do you realize the breadth of content is probably 40-50% more per part than in the "paper exam"? That alone makes it equal to the paper exam. Nothing else to say here.
bammers2
offlineModerator
@the'REAL'_CPA_test, I would have preferred taking the paper exam over 2 days than doing the CBT version, so take AND pass the computerized exam, THEN you can brag. How do ya like that one?
Comparing the paper exam to the computerized exam is like comparing apples to oranges to a certain degree and there's no need to feel superior to those who took/passed one or the other. Get off your high horse and find some other way to stroke that fragile ego of yours.
TheREAL_CPA_test
offlineMember
I just prefer to see the standard maintained rather than diluted. Shame on the AICPA for this. No doubt the change was driven to drive up revenue. More members means more revenue. Simplify the process and add to the "customer" base.
The selling point of the newer test is that the "breadth" of each section will compensate for the simplification fo the testing process. Sorry, but the ability to focus on one section only still does not compare to preparing for all. And the argument of breadth is pedestrian at best. The breadth was there before requiring the tester to prepare for it all.
So @herbert7890 and @bammers3, go play with your nerf ball and leave the leather to the pros.
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