You fell short. Maybe you didn’t study enough, or maybe you prepared as best you can and just didn’t perform well on exam day. Whatever the reason for your failed CPA exam section, whether you scored a 47 or a 74, it stings. You’re probably feeling a combination of frustration / anger / and regret all rolled into one. Trust me, I’ve been there before.
Before you get too down on yourself, keep in mind that the CPA Exam is difficult! Considering the average historical pass rates for the CPA Exam is somewhere in the ballpark of 50%, just remember that you’re not alone. In fact, most people tend to fail at least 1 section of the exam during their journey to becoming a CPA.
Failing is completely normal. In fact, failing an exam gives you a prime opportunity to figure out exactly what went wrong and which area(s) you need to improve on in order to pass. Going back into exam prep, you’ll likely remember most of the material and can spend more time on your problem areas, so passing the exam is definitely within reach! So pick yourself up, dust yourself off, and get figure out how you can pass the exam!
Answer These 7 Questions After Failing a CPA Exam Section
Why Led to Your CPA Exam Failure?
Figuring out why you failed the CPA Exam is critical to improving your score the next go-around. There are a number of reasons why you may have failed the CPA exam. Here’s a few to consider:
What Does Your Score Breakdown Say?
Your formal score breakdown provides insights into how you performed on particular areas of the exam. This is probably the single most helpful piece of information you can have as you prepare for the re-exam, because it’s direct feedback on your performance. As they say, the numbers don’t lie. Take this information to heart and use this when developing your study schedule for the retake.
How Much Did You Really Study?
Think back to how you prepared for the exam. Did you study some of the exam prep material more than others? You’ll need to be brutally honest with yourself here and not sugar-coat a thing.
If you used a CPA review course, did you watch all of the lectures and read through the course textbook? Did you make sure to read all the explanations for all of the multiple choice questions and simulations you missed? Did you truly understand the course material and concepts, or did you memorize answers after a while? Giving yourself an honest assessment of any areas where you didn’t study as thoroughly will help you figure out exactly what you need to retool your studying approach.
Did You Study Consistently?
Many people make the mistake of thinking they can get by with studying only when it’s most convenient for them or only on weekends. While some super-learners may be able to pull off this approach, it really doesn’t work for the vast majority of people that I’ve talked to or worked with. The reason is that each section of the CPA Exam covers so much material that you really need more repetition and practice than just a day or two per week or an lax schedule will allow.
Don’t get me wrong, you certainly don’t need to study every day of the week, but finding ways to work a little bit of studying into your schedule several days per week will do wonders for your exam prep. This will keep the material fresh in your head so that you can really master the material.
Did You Give Yourself Enough Time to Prepare?
Even the best studying approach can lead to failure if you don’t give yourself enough time to adequately prepare for the exam. Most people need to study anywhere from 80-150 hours to earn a passing grade on any given section. If you weren’t realistic with your exam timeline then you may have simply run out of time to fully absorb the material. With the 18 month window to pass all 4 exam sections, don’t be afraid to space the exams out a bit to give yourself enough time to prepare. Just be sure to plan for enough buffer time at the end of that 18 month window just in case you need another retake!
Did You Skimp on Your Exam Prep Materials?
We all like a good deal, and it can tempting to bargain shop when most CPA review courses cost several thousand dollars. But going with the lowest-cost provider simply because it’s cheap, purchasing outdated study guides, or relying on your notes from college, there’s a real chance that your study materials will be insufficient or outdated for the CPA Exam.
Remember, becoming a CPA will increase your earning power over the rest of your career! A solid CPA review course is an investment that can have a huge payoff, and save you lots of time and money by not needing to retake an exam section.
Did You Choose the Wrong Review Course?
If you did use a CPA review course, how well did that course prepare you for the exam? Did it align with your preferred learning style? Did anything about it let you down? Did it leave you confused over some topics or even give you a false sense of confidence over some of the exam material?
The fact of the matter is that no single review course is absolutely perfect for everyone, some review courses are better suited for particular types of students and learning styles than others. Making sure you have the right exam prep course for you really can make all the difference.
CPA review courses aren’t cheap, but neither are registration and re-exam fees! Thankfully there are plenty of options for folks who might want to switch course providers or purchase a supplement to their main course materials without breaking the bank.
Remember, You Can Do It!
Failing an exam stinks, but it can be a huge learning opportunity that ends up taking your exam prep to the next level! The sooner you come to terms with what went wrong and come up with an action plan going forward, the better.
If you’ve read this entire post and have taken this advice to heart then I know you can pass the exam. Be sure to check out the rest of the blog and my review of different review courses and study materials that can help you get there, or if you would like some more advice then feel free to leave a comment or message me.
Thanks, and best of luck!
