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December 23rd, 2009 at 07:05 am

I keep studying for this CPA exam and keep finding that I'm struggling. I keep making silly mistakes, or I do the calculations & I can narrow my choice down to two... but I end up picking the wrong one.

I wish I knew what I was doing wrong.

Right now I'm studying exchanges in the second section of the financial portion of Becker's review course. And I keep wondering, how do I know when the exam asks a question - whether its an exchange lacking commercial substance or not?

The questions I'm looking at state a fair value for the other asset, so I assume it has commercial substance - but then I get the answer wrong because it lacks commercial substance.

I hope this is normal... to take an exam on these prep things & feel like even after studying for 4-6 hours everyday - you know nothing. Then when I do pass the section I wonder if its only because I've stared at the same questions over and over that I've memorized the answers w/o really learning.

I did find out I have till December 2010 to take all four parts of the CPA exam... so if I don't know the material as well as I'd like by January/February - I'm going to take my time. Its more important for me to PASS the exam than to simply take it. But wow, this stuff is tough & just when I think I have a concept down, I take a quiz to test that info & I get 40-60% correct even though I got 80-90%'s on the homework quizzes.

3 Responses to “Disappointment”

  1. monkeymama Says:

    Let's face it - the CPA exam is about memorizing the answers. It's not about really learning anything. (I have no doubt I would fail miserably today, though audit is the exception - I never really "understood it" but passed it with ease after real audit experience). The rest, you will mostly never encounter in real life. & let's face it - knowing how to find the right answers is a million times more important than memorizing all that gook.

    Good Luck!!!

  2. skydivingchic Says:

    I don't know about the CPA exam, but I had to take a Professional Engineer exam. I was failing some of the practice tests and questions miserably, but passed the exam with flying colors. The prep material was much more difficult than the exam itself, though the exam was no picnic. Keep studying and good luck!

  3. minnie1928 Says:

    I'm currently studying for the CMA exam, so I know where you are coming from. I'm not familiar with Becker's prep program, but I'm using ExamMatrix for my prep. I know they also offer a CPA prep program. So far, I've been impressed with the ExamMatrix program. They use retired questions from the exam, present them in the same fashion as on the exam, then explain how the question is solved. The then offer further explanations in the textbook and/or online glossary terms. I paid about $135 for each section, not sure how much the CPA version would be though.

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