NINJA CPA Review | Pass the CPA Exam in 5 Easy Steps
This 5-Step CPA Study Plan will help you Pass the CPA Exam and Get Your LIFE Back in 2025. Scroll down for your Free CPA Test Bank.
“Why We Chose It (Best Price): NINJA CPA Review works nicely as an inexpensive supplement to an online course. This is an efficient studying tool that can be used as your main course but serves best as an auxiliary study aid with an excellent online support community.”
– Investopedia, Best CPA Prep Courses
Table of Contents
Introduction: Why You Might Want To Follow This Plan
My name is Jeff Elliott, and I'm a normal 40-something dude with ten kids (ok, that's insane totally not normal), but I am unique for one reason:
Since 2010, I have dedicated myself to helping struggling CPA candidates pass the CPA Exam.
It's the only thing I do.
Well, besides taking care of cows, goats, chickens, crops, livestock dogs, couch dogs…oh, and raising 10 kids (including two college-age, a senior in high school, and every two years after that all the way down to 4 years old).
I'm busy – but so are you.
Busy is relative. We're all busy with something (or somethings)
I'm a licensed CPA in Kansas (KS) and a member of the American Institute of Certified Public Accountants (AICPA). I have been 100% self-employed, having left the corporate world and its associated trappings, including health insurance and job stability.
I've been helping people pass the CPA Exam with NINJA CPA and Another71 full-time since 2010.
Before flying solo, I worked in public accounting, private accounting, and for two SEC companies, so I've also spent plenty of time in a cubicle. 🙂
My CPA Exam Journey began in late 2005.
When it was all said and done, I passed, got licensed, and even scored a 92 on REG along the way.
It wasn't all Sunshine & Rainbows, however.
I wanted to be a CPA, but I didn't really want to be a CPA.
So…I failed—multiple times.
I wasn't fully committed to studying (who wants to go home and study after a full day of public accounting?), and I would try to “cram” for two weeks before my exam and was coming up short.
Maybe you can relate?
Everything changed, however, in February 2008.
I said, “Enough is enough,” and created a new study approach called “N.I.N.J.A.” (more on that below).
Then, by the end of the year, I passed all four sections of the CPA Exam—each exam on my next attempt.
In 2008, I was a desperate CPA Candidate on the verge of throwing in the towel.
My CPA Exam Scores:
FAR 4x (70,71,76*,76)
BEC 4x (71,71,71,80)
REG 4x (69,74,74, 92)
AUD 2x (69,79)
AICPA Ethics (89,92)
* = I lost my credit due to the “18-month rule.”
Did you catch that I scored back-to-back 74s on REG? It was brutal, and it also cost me my FAR credit.
(On a side note, I am the only CPA Review course owner/instructor who will publicly list their scores or admit that they struggled initially). 😀
Today, NINJA CPA is the only major CPA Review Course that doesn't cost over $2,000 for the complete package.
Over the past 15 years, I have interacted with hundreds of thousands of CPA candidates through email, podcasts, the Another71 Forum, and social media.
Why? Helping people is my favorite thing to do, and God has given me the platform to do it.
I know the bitterness of failure.
I know the heartbreak of a 74 (I had two of them).
I know the misery of losing an exam credit (FAR).
I know the exhilarating feeling of scoring 90+ (92 on REG).
I know what you're going through as a CPA candidate right this very second.
I've either been there myself or have coached someone through it.
I'm here to help.
Let's get started.
Olga Timirgalieva (UWorld/Roger + NINJA)
Elijah Watt Sells Award Winner
“NINJA MCQ – A must! With the NINJA Notes, I printed out the notes and used as a knowledge check closer to the exam. NINJA Audio is nice to use during the commute or if you are an auditory learner.”
Brian Wright (Becker + NINJA)
Elijah Watt Sells Award Winner
“The questions and practice tests were extremely useful, they helped me find some weak spots I didn’t even know I had and gave me the extra practice I needed to get my best score of any of the exams.”
(Results not typical. Only 1 in 1,000 CPA Candidates win the Elijah Watt Sells Award.)
Part I: It's Time To Stop Messing Around
Everyone Fails
Everyone Fails. Well, most everyone 🙂
I know some crazies who passed the first time, and you may also know some.
For us mere mortals…
70-75% of CPA Candidates fail at least one exam.
1 in 2 people taking any given CPA Exam section will walk out having failed it.
This leads to needless frustration, embarrassment, and thoughts of quitting altogether.
If you want to be different, you must do different.
Perhaps you're tired of your CPA Review Course and want to abandon it altogether.
Perhaps you enjoy your CPA Review videos but would like to switch to the NINJA Study Plan, replace your course's CPA Test Bank with NINJA MCQ, and add NINJA Notes and NINJA Audio for an extra boost.
Either way, it's time to switch to the NINJA Framework, a tried-and-true path to follow.
It's About To Get Real
First things first. If you don't have the NINJA Study Planner, be sure to download it.
Downloading the NINJA Framework is the easy part.
It's about to get real from here on out.
That's ok because if you're reading this, it means one thing:
You're neck-deep into the CPA Exam (or are about to be), and you're committed.
If that's the case, this is also likely true:
The “CPA Study” version of you is not much fun to be around.
You stay up late studying.
You get up early to study.
You study over lunch.
Your friends have stopped asking you to go out on Friday night because you're studying.
Your significant other knows it's another lonely night binge-watching Netflix while you sit at the table and study.
Your kids know the answer to “Can we go do (fill in the blank) today?” is a firm “no” because mommy or daddy has to study.
“But it's Saturday!” Yes, which means you'll be studying even more.
You're tired.
You're grumpy.
You're living on questionably fresh coffee, snack bars, and whatever else you can find because who has time to go to the store?
The “CPA Study” you isn't fun.
It's time to get a study plan.
It's time to upgrade your study materials.
It's time to pass the CPA Exam.
It's time to be a CPA.
It's time to smile again.
It's time to be fun again.
It's time to get your LIFE back.
It's TIME.
Starting is the Hardest Part
Before we begin, let's address the elephant in the room: Starting.
Starting is the most challenging part, both from a CPA Journey and a daily basis perspective.
It's much more enjoyable not to have to get up in the morning and study.
It's much more fun not to start studying for the CPA Exam.
If you're new to the game, then the fact that you've purchased CPA Review materials likely makes you feel like you've accomplished something.
That's like saying you've started training for the Boston Marathon because you shopped for running shoes on Amazon.
If you're a jaded CPA Exam veteran, then you know that these review materials won't study themselves.
(Although, if it makes you feel any better when you are knocking out continuing professional education (CPE) someday, you can watch a live webinar and not actually have to answer any questions (other than the “I'm still here” button that chimes every 15 minutes) and you get credit for it. Something to look forward to!)
Real progress begins now, and the accomplishment is complete when you score 75 on all four exams within the requisite window.
Until then, the only difference between you and other staff accountants at the office who aren't pursuing the CPA designation is the fact that they are spending their money on fun things, unlike you, who is paying hundreds/thousands of dollars studying for a 14-hour accounting test.
Don't let perpetual “I'm studying for the CPA” talk trick you into thinking you've accomplished anything other than spending a lot of money.
At the first Thanksgiving, your relatives heard about your CPA Exam prep and found it to be an interesting and intriguing update.
The 2nd and 3rd Thanksgivings of you talking about the CPA Exam, well, they're tired of hearing about it.
I'm not judging – I was you.
I've been in your shoes.
I worked in public accounting and left the office at 5 p.m. each evening to attend additional college classes, earning my 150 hours.
I did this for two years. TWO YEARS.
Once I got my 150 hours…
I piddled around with the CPA Exam for two years until my wife lovingly said, “hey – I support you, but let's either finish this thing or move on.”
I got to work, developed my own study framework (N.I.N.J.A.), which is entirely different than what everyone teaches, and finally beat the AICPA.
I've been there. I get it.
Here is the candid truth…
All your extra efforts (accounting degree, 150 hours, paying for an NTS, buying a stupidly expensive CPA Review course) to get here are a moot point if you don't embrace the fact that the grind starts now.
Do you have to be a CPA to be a successful accountant?
No, but it will forever haunt you.
It will be the career gauntlet you couldn't overcome.
You will be asked about it in every accounting-related job interview for the rest of your life.
Always. Every interview. Every job application.
Whether you pass or not, you will have dreams about the CPA Exam. I still have them to this day, and I've been licensed for 12+ years.
My dreams are typically that I can't pass FAR and I lose all my credits. Thankfully, I woke up, and it was just a dumb dream.
If you don't pass, you will have the same dream, except yours will be a true nightmare.
So…you might as well pass it.
There is GOOD NEWS, however.
If you start and grind, you will pass.
I know of someone who took 23 exams.
23.
Today, that person is a licensed CPA.
Resist the temptation to pass judgment.
If they work tax returns 24/7, who cares that they struggled in Governmental Accounting, Business Law, COSO, or Audit Risk?
It doesn't matter to their clients.
You can absolutely suck at the topics in the CPA Exam as long as you're an expert in your specific field.
No one will ever ask about your scores or how many times you took the CPA Exam. I promise.
Part 2: NINJA CPA Review Study Framework
NINJA Only vs NINJA as a Supplement
Before we dive in, we need to provide some brief context for the 5 Steps and outline the two NINJA Study Paths.
NINJA as a Supplement (most common): If you already have a CPA Review Course (Like Becker, UWorld, etc.) and want to continue using parts of that course, then you want the Supplement Path.
This can range from continuing to use the majority of your main course but adding in the NINJA Notes, NINJA Audio, and NINJA MCQ (and probably NINJA CRAM) to ditching most of your course, aside from the test bank or the cram and using the NINJA CPA Review course as your main CPA Review course.
How much or how little NINJA you want to use with this path is up to you. If you love your course, keep it and use it.
NINJA plays nice with other courses. If you hate your course, salvage what you can (such as simulations) and let NINJA pick up the slack.
The price and flexibility of NINJA are why Investopedia has rated us “Best Price” each year since they started their Best CPA Review Course ratings in 2021.
NINJA Only: CPA Candidates who go the NINJA Only route primarily come from three camps:
1) They don't have a course yet, but have heard good things about NINJA from study groups and other sources, and want to try passing the CPA Exam with a reputable, $67 monthly course, rather than shelling out $2,000 to $3,000 unless necessary.
2) Their course has expired, and they have a few exams left and are rolling with NINJA, only to close out the CPA Exam.
3) They hate their course; they're over it. They would rather pay someone to drive a tank over their CPA Review materials than study. They're burning the ships and are studying on NINJA Island, come hell or high water.
This section will focus on “NINJA Only.”
If you want to go the NINJA as a Supplement route and have a specific course you'd like to use, and you have questions, email jeff@another71.com, and I'll be happy to help.
What is the best/fastest way to pass the CPA exam?
It's a simple acronym: N.I.N.J.A.
The NINJA Study Framework (or NINJA Method) is not the only effective study method, but after using it for a decade or more, I believe it is the best.
Why? Because it strips out the redundancy that everyone else prescribes.
- Watch Chapter 1 Video
- Do Chapter 1 Questions
- Watch Chapter 2 Video
- Do Chapter 2 Questions
(repeat)
Guess what you'll do in Week 7 when you've forgotten the Chapter 1 questions?
Chapter 1 questions. Again.
The N.I.N.J.A. Method removes that redundancy and gives you precious hours of your life back so you can … have a life.
- Nail the Concepts (2.5 weeks)
- Intense Notes
- Non-Stop MCQ (2.5 weeks)
- Just Rewrite Your Notes (1 week)
- All Comes Together (1 week)
By starting MCQs in Step 3 instead of Step 1, like all of the “big” courses recommend, you're saving yourself a minimum of 102 hours of study time as a CPA candidate.
Here's the math:
If you study 20 hours per week and do MCQs for 2.5 weeks on Step 3, that's 50 hours.
During those 50 hours of Non-Stop MCQ, if you spend 2 minutes per question on average (a reasonable pace), then that's 30 questions per hour (60/2).
50 hours of Non-Stop MCQ x 30 questions per hour = 1,500 questions.
Instead of doing 1,500 questions twice (like everyone else), you do them once the NINJA Way.
That's 50 hours saved per exam, totaling 200 hours saved.
“But Jeff – that's not really fair … I'm using (insert course), and yes, they have us do questions with each chapter, but it's not 1,500. C'mon, man.”
I agree. I always want to err on the side of fairness and conservatism (like any good accountant would).
Let's assume your video lectures have 10 modules, each with 50 questions assigned.
A reasonable assumption? Some exams or modules may have more or fewer questions, but 10 modules with 50 questions each is fair.
That's 500 questions worked during “concepts” mode per exam x 4 exams = 2,000 questions.
(Yes, you'll do 800-1,000 during MCQ and review mode, but we'll set that aside for now).
500 questions, assuming a pace of 2 minutes per question, as described above = 1,000 minutes.
1,000 minutes is 16.6 hours… rounded up to 17 hours.
That's 17 hours of wasted time.
Why? You will need to redo those questions because, in some cases, they were completed 6 weeks ago.
17 hours saved per exam x 4 exams = 68 hours.
Except, according to NASBA, the average CPA candidate takes six exams.
Remember that the first-time CPA Exam Pass Rate is historically 25%. Unless you're in that 25%, you should plan on six exams.
17 hours saved per exam x 6 exams = 102 hours
At a minimum, the NINJA Method will save you 102 hours of study time.
This single fact alone should prompt you to download the NINJA Study Planners, which are available for three easy payments of free.
If I still haven't convinced you, then either
A. My assumptions are wrong
B. My math is wrong
C. You would rather study for the CPA Exam for an extra 102 hours than hang out with friends and family
D. You are convinced. You just don't want to spend any more money.
Fair enough – keep reading because the Study Framework I'm about to lay out can be used with any course.
I use the NINJA Study Weapons as an example, but you can insert your own materials and follow the framework as well.
Of course, if you want to subscribe to NINJA CPA, that's fine too. 😀
Step 1. Nail the Concepts
Nail down the concepts before you begin the MCQ.
Hammering MCQs before you've learned the material is like installing kitchen cabinets before the foundation has been poured.
Can you do that? Sure.
Are the disastrous results predictable? Yes.
Step 1 will take approximately two weeks.
NINJA Study Planner
Start by printing out your NINJA Study Planner.
Nail the Concepts first and get them out of the way before you begin your CPA Test Bank. Yes, we realize that this isn't how the ‘big courses' do it, but their way wastes at least a week per exam, which at a minimum is a month of study time if you pass on the first try.
Even if you never become a NINJA, the NINJA Framework will save you weeks of needless misery.
(unless you like sitting in a spare bedroom by yourself and watching Dollar Value LIFO breakdowns.)
There are two NINJA plans: 4 weeks and 7 weeks.
If you're studying full-time, use the 4-week plan.
If you procrastinated and are in “oh crap” mode – use the 4-week plan. 😀
Most people will use the 7-week planner. This is the perfect study plan for working full-time and having a “life” while studying.
Aim for 20 hours a week.
If you're not studying 20 hours a week, you're not studying.
If something is confusing in your CPA Review materials, look it up in the NINJA Book or NINJA Notes.
NINJA Notes
Start reading the NINJA Notes in your downtime, especially at work. It's ok if you haven't studied the section before.
It will all start clicking the third time through, regardless of where you are in your prep.
NINJA Audio
Start listening to your NINJA Audio. Never drive to work without it on.
You can listen to fun things when you're a CPA. For now, you're stuck with my nasally voice. Let that motivate you. 😀
If your commute is a one-hour round trip, then that's one hour of NINJA Audio per day (and that's for the commute alone—if you can work/workout/do laundry and listen to the NINJA Audio, even better).
NINJA Book
With all of that preliminary stuff out of the way (planner, notes, audio, etc), we're finally nailing the concepts.
Nail the Concepts with the NINJA Book.
Set a firm deadline of 14 days to blast through the concepts and take in as much as you can.
After 14 days (max), put the NINJA Book away and move on to MCQ.
Why? For one, it brings pressure, which brings progress.
Second, you can easily fall into this perpetual state of “learning,” and you're never actually ready for any exam.
Finally, the MCQ phase isn't about testing – it's about learning.
Other courses get this wrong about the MCQ, which is why they recommend practice tests or mock exams, which are a poor use of time.
With each MCQ, there are up to four learning opportunities: why one answer is correct and the other three are not.
Nail the concepts in two weeks or less, and then put the book away.
NINJA Sparring
If you prefer videos, watch NINJA Sparring lectures instead.
Use the same 14-week clock as the NINJA Book.
Ok! We've Nailed the Concepts.
Step 2. Intense Notes
Take Intense Notes.
First Time? Retake? 15th Retake? It doesn't matter. Take Intense Notes.
If you're using NINJA as a Supplement, watch your video course lectures and take notes.
If you're going NINJA Only, take notes over the NINJA Book or NINJA Sparring.
Struggling to take notes? Do your best.
Taking notes might be frustrating, time-consuming, tedious, awful etc.
Do you know what else is frustrating, time-consuming, tedious, and awful?
Retakes.
Step 3. Non-Stop MCQ
NINJA MCQ
You've nailed the concepts. You took intense notes over your Book/Videos.
NOW is when we jump into the Test Bank.
Take Intense Notes over your NINJA MCQ sessions.
Crucial Step: If you missed a question, take notes about why you missed it.
If you got the question correct but will likely miss it in the future, write it down.
If you're using NINJA as a Supplement, and this is your first time taking this exam, do Non-Stop MCQs with your “main” course test bank.
Then, in the review phase (A—All Comes Together), switch to NINJA MCQ and work backward, beginning with your weakest topic.
If this is a retake OR you've found yourself memorizing your course questions, then switch 100% over to NINJA MCQ for this phase.
When it's time for simulations, switch back and forth according to which software you prefer.
If this is your first time taking this exam and you're memorizing the test bank questions (which is bad because it causes false confidence … you're scoring in the 90s, but on exam day, you score a 65 and can't figure out why), then switch over to NINJA MCQ 100% for both (N) and (A).
SIMS – First time or retake alike: switch back and forth between the two platforms.
Mock Exams & Practice Tests
NINJA MCQ offers unlimited mock exams, but I hate practice tests.
So why do we offer them? People think they should do them because the big courses offer them.
Let me put it this way: You should take zero mock exams before Exam Day.
That statement right there attacks a sacred cow in the CPA Review industry.
We take mock exams for the same reason we spend three months' salary on an engagement ring:
People told us to do it.
Here are three reasons why you shouldn't work mock exams before taking the CPA Exam:
- The scores don't mean anything. A 75% on a mock exam does not translate to a 75 on exam day. Not even close. Think of a 75 on the CPA Exam more like a B+/A-. It is NOT a 75%.
- You don't get instant feedback. You must wait until the end to see the answer and explanation for a problem area that you run into early on with your mock exam. Learning from your mistakes on a practice test involves wasting time going back, finding the question, figuring out what you were thinking at the time and why you picked the wrong answer, and taking notes. Instead, just take notes after you missed the question.
- It is essentially a waste of valuable study time. Every study second counts. A mock exam is easily 3-4 hours, depending on how well you're doing and how seriously you're taking it (actually trying as you would on exam day, or just click-click-clicking to be done). Think of how many “problem” areas you can attack in 20 MCQ increments in 4 hours. The ROI on that time spent is MUCH higher in study mode.
Friends Don't Let Friends Do Mock Exams.
Of course, the big expensive courses and the prestigious accounting professors who get together twice a year over steak dinners (and you wonder why CPA Review Courses are $2,000) and tell FASB jokes are all in lockstep on this one, and they think I'm a bearded idiot.
As the car crash commercials used to say, “you can learn a lot from a dummy…“
If you REALLY want a practice test, take this 40-question quiz.
Simulations
A common question from CPA candidates:
“When do I practice Simulations?”
There are several schools of thought on this topic. Some courses treat simulations like MCQs, and you do them together.
I disagree.
Here's why: You know for sure that you will have MCQs over specific topics.
Not so with simulations. You will get a handful of simulations over a handful of topics.
If you understand the CPA Exam material conceptually, then you can answer both MCQ and Sims.
Granted, simulations ask questions in a weird way, and sometimes you just stare blankly, not knowing exactly “what” they want you to enter (this horror scene played out for me once during FAR…I was sure that the simulation was a goof – because it didn't make any sense despite the fact that I knew the topic well. Unfortunately, skipping a simulation because “they” are wrong isn't an option.
How to prepare for CPA Exam simulations: The week before your exam, pick one day (Sunday?) and hammer away at nothing but your NINJA Simulations. Hit 10 of them and call it good.
Opinions vary—and that's my opinion on how to study for simulations.
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Step 4. Just Rewrite
Just Rewrite Your Intense Notes.
We know you took killer notes over your lectures and MCQ … rewrite those 😀
Step 5. All Comes Together
It All Comes Together in a Final Review.
Step 5 is the same for both the NINJA Only and NINJA as a Supplement Path.
If you're using your Course Questions in the Non-Stop MCQ phase (NINJA Supplement), this is where you switch over to NINJA MCQ (if you've already switched, then keep using it here as well).
Start with your weakest topics first and work backward. You can let the software feed you questions, but since you're in a final review phase, I recommend doing topic-specific mini-testlets and really drilling down.
Do a set of 20 over your weakest area. If you're weak in several areas, choose the one that keeps you awake at night.
The one you DREAD seeing on exam day.
If you hit in the low 70s (70-75), move on to your next weakest area.
You don't go for mastery here because you have a lot of ground to cover quickly for your review. It's better to get all of the topics into the 70s and then come back and hit them again vs. getting a few into the 80s/90s and running out of time before you can get to the rest.
For instance, if you're taking Financial Accounting and Reporting and your weak area is Bonds, do 20-question mini-testlets until you're scoring in the 70s (which may take 3 or 4 sets) and then move on to your next weakest area, which might be Leases. Repeat this with Leases and then move on to the next one—Governmental Accounting, etc.
As you head into your exam – hammer MCQ, and read the NINJA Notes every spare millisecond you have.
Everywhere you go – in the car, in the gym, sitting at your desk at work, it's NINJA Audio, NINJA Audio, and … you guessed it, NINJA Audio.
(I get it – the content is boring, and my voice won't be confused with Morgan Freeman anytime soon, but hit Play anyway. You can listen to your Spotify Playlist of 90s Pop Hits AFTER your exam.)
NINJA MCQ … NINJA Notes … NINJA Audio on repeat…even up to the minute you leave your vehicle and head into Prometric (what if the extra 3 minutes of some nuance of Corporate Taxation was the difference between a 74 and a 75 on exam day?).
NINJA Flashcards
NINJA Flashcards are like NINJA Notes that talk back.
Our flashcards use spaced repetition and other fancy things that only super nerds understand.
You can use the NINJA Flashcards starting with Step 1, or wait until Step 5 as a review tool. It's entirely up to you.
NINJA CRAM
NINJA CRAM takes the NINJA Sparring concepts and breaks them down to the must-know information.
You can watch all of the NINJA CRAM topics over the course of a weekend, and they are an excellent final review before Exam Day.
Exam Day Tips
I recommend scheduling your CPA Exam for Monday at 1:00 p.m.
This time slot allows you to study all weekend with nothing but your exam on your mind.
No work. No nothing. Just the CPA Exam.
Wake up the morning of your exam and cram, cram, cram.
Some people advocate not studying the morning of your exam and just relaxing, but I think that's bad advice.
You can chill AFTER your exam.
You can listen to Spotify on the way HOME from Prometric.
Until then? Study. Study. Study.
Walk through those Prometric doors confidently, bar out all of that knowledge in your head, and sleep for three days.
You've earned it.
To Your Success,
Jeff Elliott, CPA (KS)
