How Long Does It Take To Study For Far?

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How Long Does It Take To Study For Far
How Long Does It Take to Study for the FAR CPA Exam? – The FAR CPA exam section is considered the hardest of the four sections, with 8 task-based simulations and 66 multiple-choice questions. This portion of the test covers the widest range of information and touches on many different accounting topics, which is why many deem it to be the most difficult section, How Long Does It Take To Study For Far Due to the vast amount of material covered in the FAR, it is recommended that examinees spend 100-120 hours focusing on studying for this test. Due to the broad range of topics, it can be hard to know exactly what to study, The FAR section covers extensive subject matter, so you could come across just about any accounting subject, which is why many past examinees recommend spending a little extra time studying for this section.
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How long do you need to study for the far?

1. Consider taking FAR soon after finishing your degree – Of the four sections of the CPA Exam, FAR has the most content in general, and it has the most content related to your accounting degree. A bachelor’s of accounting typically contains two intro to accounting classes and two intermediate accounting classes.

  1. These classes all relate to the content in FAR.
  2. Many of your accounting electives, such as classes related to International Financial Reporting Standards, government or nonprofit reporting will be seen on the FAR section of the CPA Exam as well.
  3. By taking FAR soon after you finish either your Bachelor’s or Master’s degree, you can leverage that fresh college knowledge to your advantage.

The breadth and depth of the information you need to learn on FAR will also give you advantages when you take other exams. Some of the information you see on the FAR exam will be presented on one of the other three exams as well. If you take FAR first, you’ll already have a good grasp of these concepts on other exams.

  • FAR also takes the longest to study for.
  • Surgent’s average number of study hours for FAR is 54.
  • This is significantly below the average recommendation of 80-100 hours, which means you’ll pass the exam in less time, but is the highest in terms of Surgent’s study hours to pass the other three exams (AUD – 43 hours, BEC – 42 hours and REG – 45 hours).

Your 18-month window to pass all four parts of the CPA Exam begins when you pass your first exam. If you spend 54 hours studying for FAR before that window starts, you’ll have knocked out the largest chunk of your study hours and won’t have to use those hours within your window.
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Can you pass far in 2 months?

Is It Possible To Pass FAR With | CPA Exam Forum

  • I did it last summer, so it’s definitely doable as long as you stay focused on studying. Licensed CPA Passed each section on the first try with Ninja Notes/MCQ/Audio Absolutely if you can stick with that for Friday, Saturday, and Sunday 320 is definitely overkill. Most people pass with 150 hours or even less. Working full time plus studying 40 hours a is tough. I’d say to cut it down to 25 hours a week. It is more about quality than quantity I feel. You should focus on getting that will fit your learning style. BEC-July 2016 REG-August 2016 FAR-October 2016 AUD-Nov/Dec 2016 I have a couple of for you if you don’t mind. Been reading your posts lately. I recently graduated and purchased my today.1) What’s your GPA in college? Cumulative and Major if possible.2) What do you normally get in your accounting exams? 3) When did you start studying and when did you finish taking the exams? 4) Did accounting make sense to you while you were in college? I’m aware that you only did Ninja. I’m planning to do Ninja and, but I’m not sure if I should spend the extra $450 on Wiley for more questions. Doing Wiley is also added time to my studying, which I’m not sure if it’s going to be also added value or not. I graduated with very high honors but I half-assed my accounting classes (I’m more of an IT person). I’m also pretty good in memorizing, but understanding concepts for me takes time. Thanks! Yes. You can study for FAR in 2 months. Some people here recommend 200 of study time, and doing 3,000-5,000 MCQs. Since FAR has so many chapters, the exam won’t be able to test you on all of the chapters. There are some chapters that are tested on more than others. said that Government and Not-for-Profit make up about 20% of the exam. He also said that IFRS makes up about 10% of the exam. I think the and Audio cover many of the more important chapters that the exam might include. This thread mentions some of the more important topics to focus on. FAR: (05/24/16) | (07/15/16) | (10/22/16) AUD: (09/07/16) | (11/29/16) | BEC: TBD REG: TBD Using Roger CPA Review + Ninja (MCQs, Notes, Audio) Yeah that’s plenty of time.320 is overkill, though. I probably studied 250 for FAR which was 50-75 hours too much, honestly. I would recommend breaking up your studying. One hour before work, an hour during lunch, two at night.
    • 4 for 4
    • FAR 85 AUD 94 BEC 86
    • REG 90

    I’m attempting to pass FAR with only 14 days of studying with probably 50 study time by the time I sit. I might pass I might fail but I think anything over 3-4 at 25-30 hours per is way overkill for any part of the exam. They’re gonna test 2-3 years of classroom time in 4 hours – see the big picture. Yes I work full time and no, I didn’t just graduate (2013)

    1. Roger CPA
    2. AUD 02/01/16 91 REG 02/27/16 79 BEC 04/16 84
    3. FAR 06/04

    Yes, it is very doable. I FAR a couple of months ago while working 40 hours a week. My study schedule averaged about 2-3 hours of studying a night for about a month an a half months. I used and I feel like I was very prepared for all the and sims I saw.

    • thanks for the feedback guys.
    • I estimated 320, but ya, I doubt I even get that many quality hours.
    • let’s hope I pass AUD next, then I can start preparing for FAR.

    FAR – 9/8/16 (Hopefully it’s my last CPA exam, God bless me!) REG – 80 BEC – 81 AUD – 69, 81 @ChenQ >> 1) What’s your GPA in college? Cumulative and Major if possible. My bachelor’s is in mass communication and was earned 13 years before I took my first CPA section, though I had started out majoring in accounting. I had an original sad GPA of 2.48 due to the fact that in retrospect my alma mater was a terrible fit for me, but I was young and didn’t know it at the time. My post-bachelor’s GPA is 3.58, with a 3.38 in accounting classes. >>2) What do you normally get in your accounting exams? Mostly A’s and B’s. My interest in the material really dictated my grade in the class – that and fear of failure. I got a 68% on the 2nd of 3 govermental/NFP accounting class exams, which scared the beejesus out of me and caused me to study the heck out of the material for the final and got a 98% on it. >>3) When did you start studying and when did you finish taking the exams? I started prepping for FAR on Friday, May 1st 2015 and took REG on Saturday November 28, 2015.212 days. I kept a spreadsheet of what needed to be done at minimum each day from start to finish, along with my, average, MCQs completed. >>4) Did accounting make sense to you while you were in college? Mostly yes. When it didn’t make sense, I at least tried to understand the logic behind it. Licensed CPA Passed each section on the first try with Ninja Notes/MCQ/Audio YES !! It is also possible to finish tax extension season on October 15, move for the second time in a 3 month window, and pass a FAR retake before Thanksgiving while raising two young children. Accounting never make sense to me in College. I had my accounting degree 7 years ago. I got B/C in most of my accounting classes. I prepared my FAR in 2 months with a full-time job. Hope that helps. REG 90 FAR 95 AUD 98 BEC 84 Agreed – 2 months is doable and 300+ is overkill. If I learned anything from these exams, it’s how important it is to work smarter, not harder. It’s also good that you’ve already taken and the other exams, as that gives you a feel as to the pace to study. Yes, FAR is a beast, but saving it for last gave me the chance to improve my study routine as I went along. I knocked out FAR in 3 with a full-time job, so you definitely can do it! BEC – 88 8/29/15 REG – 82 11/14/15 AUD – 83 1/8/16 FAR – 80 2/29/16 really that is impressive can you please share your strategy

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    Is 10 weeks enough for far?

    How Much Do I Need to Study for FAR? – I’ve written a whole separate article on this topic, but the TL:DR is this: Most candidates should plan to spend at least 100-120 hours studying for FAR, Assuming you study ~15 hours each week, this translates to roughly 6-10 weeks of studying.
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    Is the far test hard?

    The FAR exam has the lowest pass rate and is considered the hardest of the 4 CPA exam sections. It typically requires the most study time because it is the most comprehensive of the 4 exam parts, and it takes a lot of mental endurance to get through all of the questions that require accounting and math to be performed.
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    What subjects are most tested on far?

    What are the most tested FAR Topics? What All FAR Students must know! i-75 students often ask me what are the most tested topics for each exam? For FAR, the most heavily tested areas are Business Combinations, Leases, Bonds, Stockholders Equity, and a mix of Government and Not For Profit.

    1. Lets start with business combinations.
    2. Calculating goodwill and non-controlling interest are always on the CPA FAR Exam.
    3. Look for a question where the AICPA asks the FAR Candidate to prepare journal entries to record the “eliminations”.
    4. The work-paper eliminations are a big part of the business combination accounting therefore expect a question where you have to eliminate subsidiary equity, the parent investment, and set up goodwill and non-controlling interest.

    Staying with business combinations, the other question that could be asked is with regard to inter-company transactions, especially inventory. The parent will usually sell inventory the subsidiary at a profit and that profit will need to be eliminated against consolidated cost of goods sold or consolidated inventory.

    • This is considered one of the most difficult questions on the entire CPA FAR exam.
    • The video below explains it in dream detail.
    • Leases are also heavily tested but i would expect the questions on leases to be lightweight compared to business combinations.
    • This is because lease rules have recently changed and when that happens, the CPA Exam will test the new rules but not with much depth.

    For example, even operating leases now require the lessee to record the right of use asset and lease liability on the lessee balance sheet, unless the lease is for less than 12 months. Bonds are another heavily tested topic on the financial accounting and reporting exam and the AICPA blueprint indicates that a FAR candidate must know the effective interest method of amortizing a bond discount or premium.

    Bonds are often issued between interest dates and when they are, accrued interest must be calculated. Also, whenever there is no interest payment on December 31, accrued interest needs to be recorded as an adjusting entry. Also, entries to pay off the bonds before maturity are sometimes tested. Bond issuance costs is another twist when it comes to bonds.

    Stockholders’ Equity is often forgotten about by candidates going into the exam because other topics seem more difficult yet questions about common stock, preferred stock, treasury stock, cash dividends, stock dividends, are often tested especially the debits and credits.

    1. Bonds and stockholders’ equity are good simulation topics.
    2. Governmental Accounting is consistently tested since the journal entries are unique, especially for the modified accrual funds.
    3. The government wide financial statements and the reconciliation are considered more challenging and likely tested in multiple choice.

    Not for profit accounting is back to full accrual but most candidates get confused with the net asset concepts and when revenue should be recognized. : What are the most tested FAR Topics? What All FAR Students must know!
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    How do I prepare for far?

    To pass FAR, you’ll need to understand the technical financial accounting standards and get comfortable performing accounting math under a time limit. That means really knowing the material and doing a lot of practice quizzes. If that sounds like a challenge, you can appreciate why FAR has the lowest CPA pass rate.
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    Can I pass far in 3 months?

    The answer is yes, you can! While the preparation will be tedious, it’s definitely doable. The first step is to sign up for your exam. Then, find a CPA exam review course that best fits your needs, use it by yourself and/or with a study group.
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    Can you pass far in 8 weeks?

    FAR CPA Exam Section Study Time – Using what I’ve learned from my personal experience, feedback from candidates, and the recommendations of CPA review providers, I estimate that total study time for the FAR CPA Exam section usually falls somewhere between 120-160 hours.

    1. Generally, the more familiar you are with the FAR content, the less time you need to study, and the faster you can pass.
    2. So, how long will you need to study for FAR? Well, you can figure out what side of the study time spectrum you’re probably on via a deeper investigation into FAR’s content.
    3. You’ll find the content areas, groups, and topics of FAR in the FAR CPA Exam Blueprints.

    Want to pass FAR fast? Then you’ll need to study for 20 hours a week, so you can finish your review in 6-8 weeks. Can’t fit that much study time into your regular routine? Then try studying for 15 hours a week. Doing so will prepare you in 8-11 weeks. And finally, if you can only study for 10 hours a week, you’ll be ready for FAR in 12-16 weeks.
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    Can you take far in 4 weeks?

    Yes its possible for some but not all to pass in 4-5 weeks, too many variables to say if you can or can not.
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    How many questions are on far?

    FAR CPA Exam – Frequently Asked Questions – Unfortunately, there is not a set amount of study time that it takes to be sufficiently prepared to pass FAR. Every candidate will move through the material at a different pace. We generally suggest you plan for 150 hours of studying when you develop your initial study plan.

    If you based your answer on the average pass rate, then yes, FAR has the lowest pass rate, which makes it the hardest exam. However, certain CPA candidates might find FAR easier than other sections. It all depends on your prior knowledge and interests! We recommend passing FAR before you move onto the next section of the CPA exam.

    Since FAR is considered to be the hardest section, you do not want your 18-month timeline to start without passing FAR. If you fail FAR, retake it before you move onto the next section! Hopefully you only need to take FAR once! However, if you do fail, you can take it until you pass.

    With continuous testing, you no longer have to wait until the next testing window to sit for a retake. There are 5 testlets on the FAR exam. Testlets 1 and 2 have 33 multiple choice questions each. Testlet 3 contains 2 simulations. Testlets 4 and 5 contain 3 simulations. This amounts to a total of 66 multiple choice questions and 8 simulations.

    It is important to understand that there are 12 pretest multiple choice questions and 1 pretest simulation. Pretest questions do not count towards your score. You will not know which multiple choice questions or simulations are tagged as pretest. The pass rate for FAR has averaged around 45 to 46% over the last five years.

    FAR continues to have the lowest pass rate. You will have 4 total hours to complete the exam. You will have an option 15 minute break after testlet #3 which does not count towards the 4 hour total. Multiple choice questions will account for 50% of your score, with task-based simulations accounting for the other 50% of your score.

    The reality is that almost any topic in the FAR blueprint could be tested in a simulation aside from a select few. The most common simulations for FAR tend to be on the statement of cash flows, accounts receivable rollforward, accounts payable rollforward, consolidation method, acquisition method, intercompany eliminations, commitments and contingencies, equity method, investments in debt or equity securities, bank reconciliations, adjusting journal entries, cash vs accrual, earnings per share, bonds, and leases! I could keep going but we would be getting pretty close to including every topic in the FAR blueprint! Yes, the AICPA has confirmed that the FAR blueprints will change with the CPA Evolution.
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    How many pretest questions are there in far?

    So, there are a total of 66 multiple-choice questions (MCQs) on the FAR CPA Exam.12 are pretest questions which means they will not be graded.
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    Is 2 months enough time to study for the MCAT?

    12 weeks, or 3 months, is generally sufficient time to spend studying for the MCAT at about 20 hours per week.
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    What makes far so difficult?

    FAR basics: Let me introduce you to FAR – FAR is all about: F inancial; A ccounting; and R eporting. In short, FAR is where the accounting happens on the CPA Exam. This means FAR has math – so much math, Making it even harder is the fact that it comes with its own bespoke set of rules: GAAP, which is a highly structured, all-encompassing standard.

    In the CPA Exam Blueprints, the AICPA says, “Candidates should assume that each question applies to a for-profit business entity reporting under U.S. GAAP unless otherwise stated ” So you really have to know the ins and outs of this vast standard, plus be able to complete a wide range of calculations.

    FAR really tests you to make sure you’re ready for the rough and tumble world of a CPA.
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    What is the most difficult part of far?

    The Financial Accounting and Reporting (FAR) section of the CPA Exam can be the most difficult of the overall four-part exam. The “far”-reaching and meticulous depth of material covered can intimidate even the best-prepared student! Don’t worry though, as long as you study the topics on the exam and practice, you can sit for the exam with confidence.

    FAR requires answering 90 multiple-choice questions across three MCQ-testlets; these account for between 50% – 60% of your score. There are also seven task-based simulations — written case-studies and one research question — which represent the remaining 40% – 50%. Simulations are time-consuming, so you must use your time wisely to finish them all.

    This is important; you won’t be able to pass FAR simply by doing well on the multiple-choice testlets. Subject Matter of the FAR Exam Subjects areas covered on the FAR exam can be divided in the order they are presented:

    Concepts and standards for financial statements, accounting for 17-23% of FAR exam material; Accounts and disclosures, typical items found in financial statements, covering 27-33% of exam material;Specific types of events and transactions, 27-33%; Financial reporting for governmental entities, 8-12%, andFinancial reporting for non-governmental and not-for-profit entities, 8-12%.

    You’ll be expected to proficiently assemble a working financial statement, complied from journal data-records, to render a reliable statement-format. Overall, you must display:

    familiarity with the entire range of methods for financial accounting and reporting;ability to accurately assess and evaluate all financial statement data, topresent dependable conclusions about the meaning of the statement’s financial matter, in the form of verifiable findings.

    5 Most Difficult Topics on the FAR Exam : 1. FAR’s diversity of subject matter is its most difficult condition. This is true even within a single topic. The test is structured so that one topic might solicit 7/8 different responses, including its: theoretical underpinnings, credit/debit values, financial statement positioning, post-transaction account balance, its value mid- year (6/30) or year’s-end (12/31); inquiries into fair value elected/not-elected, LIFO, the installment method or cost recovery may also surface.2.

    You will be required to demonstrate their proficiency analyzing unusual fluctuations in financial activity and the best ways to make appropriate adjustments for these reports. This entails preparing account reconciliation and related schedules, as necessary.3. Similarly, be able to select/utilize correct accounting treatments for new/unusual transactions, assessing their economic substance.

    For instance, you may be asked to account for Business Combinations, which often require unusual journal entries, including reports of Intercompany Transactions, as well as calculation of Goodwill and Non-controlling Interest.4. FAR also asks you to recognize and show understanding of distinctions between American generally accepted accounting principles (U.S.

    • GAAP) and financial reporting standards for international business (IFRS).5.
    • You will also be asked to write cash-flow, comprehensive-income, and changes-in-equity statements.
    • Pension, bond and stockholder equity problems have been cited as among FAR’s most difficult.
    • Similarly, familiarity with Securities Exchange Commission (SEC) reporting requirements will be required for Forms 10-K and 10-Q.

    Also necessary will be displaying your skill in these areas, among many others:

    compensation/benefits accounting, including for example, non-retirement post-employment benefits, compensated absences and stock compensation, items diverse as bonds, deferred taxes, derivatives, hedging, inventory-valuation, leases, liabilities, non-monetary exchange, or variable-interest entities, recognizing, measuring, calculating and disclosing hold-to-maturity investments and joint ventures,exhibiting expertise presenting earning-per-share, segment reporting, fair value measurements, disclosures and reporting, as well asproviding evidence of appropriate accounting acumen for both governmental and non-profit entities.

    These topics represent but a fraction of knowledge required to pass the FAR; 75% is the passing score, so definitely go to the test prepared. But don’t let FAR intimidate you. It’s certainly NOT beyond your means. You’ve come this FAR, so take the next step!!
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    What is a good score on far?

    Hardest CPA Exam Section – Based on the same metrics and data sets found in the Jurisdiction edition of the 2017 NASBA Report, it appears that the hardest exam section is Financial Accounting and Reporting (FAR). The average pass rate for this section is the lowest of the four at 49.9%,

    1. Furthermore, the average CPA exam score for FAR among all test takers is below passing: around 68.6.
    2. According to page 127 of the NASBA Report Jurisdiction Edition, female test takers have a FAR pass rate of 45.4% and an average score of 67.1,
    3. Males have it a bit better with a FAR pass rate of 53% and a 70.3 average score ; however, neither of these average scores are passing.

    Surprisingly, the pass rates for FAR’s individual content areas aren’t as low as you may have expected, considering the low pass rates for this section overall. The two content areas on the FAR exam with the lowest rates of “Comparable” or “Stronger” ratings for all candidates are Financial Statement Accounts (49.5%) and Task-Based Simulations (45.7%),

    Neither of these are the lowest out of all 18 CPA Exam content areas; that honor goes to Forming Conclusions and Reporting (43.8%) on the Auditing and Attestation (AUD) section, Why is FAR the hardest section of the CPA exam to pass if the content areas contained aren’t the hardest on the exam itself? Here’s the smoking gun: Referring back to the American Institute of CPAs’ (AICPA) exam scoring rubric, the Task-Based Simulation (TBS) section of each exam part is weighted heavily in students’ final scores.

    In the case of BEC, this weight is slightly offset by the inclusion of a written portion. However, FAR has no written portion and the most difficult TBS portion. Hence, the pass rates for this section of the exam sink like a stone despite decent average scores for the majority of its content areas.
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    How long is the FAR exam format?

    CPA FAR Exam format – The FAR exam sections consist of five testlets to be finished in four hours with a 15 minutes break. The first two testlets are multiple-choice questions (MCQ), and the remaining three are task-based simulations (TBS).
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    What is the far CPA exam?

    The FAR (Financing Accounting and Reporting) section of the CPA exam covers topics like GAAP, financial statements, financial transactions, and reporting for non-profits. Many candidates consider the CPA FAR exam to be the most challenging of the four because of its length and scope of information covered on the test.

    The FAR CPA exam is also difficult because it tests your understanding of financial reports, statement presentation, and significant business transactions using GAAP, IFRS, and Governmental Accounting systems. It’s also common to see topics like employee benefits, transfers, compiling operations and research costs, calculating fair value figures, and correcting errors in transactions on the exam as well.

    Needless to say, there’s a ton of information covered on this test. Let’s look at how it’s formatted and what you need to do to pass FAR.
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    Is inventory heavily tested on far CPA exam?

    Ending Inventory – Inventory is heavily tested on the FAR test because inventory is often the largest asset on the balance sheet. Hence, the formula for ending inventory is tested in a variety of ways. Here’s the formula: (Beginning inventory) + (purchases) = (goods available for sale) – (cost of goods sold) = Ending inventory Assume, for example, that you own a sporting goods store, and your goods available for sale balance looks like this: $800,000 beginning inventory + $300,000 purchases = $1,100,000 goods available for sale The goods available for sale balance is a subtotal; this balance is either sold or remains in ending inventory.
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    Is Financial Accounting and reporting hard?

    How To Pass The CPA Exam: The IPassTheCPAExam.com Guide for International Candidates Get full access to How To Pass The CPA Exam: The IPassTheCPAExam.com Guide for International Candidates and 60K+ other titles, with a free 10-day trial of O’Reilly. There are also live events, courses curated by job role, and more.

    Conceptual framework, standards, standard setting, and presentation of financial statements (17 to 23 percent). Financial statement accounts: recognition, measurement, valuation, calculation, presentation, and disclosures (27 to 33 percent). Specific transactions, events, and disclosures: recognition, measurement, valuation, calculation, presentation, and disclosures (27 to 33 percent). Governmental accounting and reporting (8 to 12 percent). Not-for-profit (nongovernmental) accounting and reporting (8 to 12 percent).

    Similar to AUD, this is a four-hour examination, with three testlets each containing 30 multiple-choice questions, and one testlet containing seven task-based simulation questions. The multiple-choice questions are adaptive but the simulation questions are not.

    • Passing Rate History and Trend Although there has been marked improvement since 2005, the 2012 passing rate is still lower than 50 percent level at 48.0 percent ().
    • Within 2012, the passing rates fluctuate considerably from 43.8 percent to in the first quarter,
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    O’Reilly members experience books, live events, courses curated by job role, and more from O’Reilly and nearly 200 top publishers. : How To Pass The CPA Exam: The IPassTheCPAExam.com Guide for International Candidates
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    What is most heavily tested on far CPA Exam?

    Q: What is heavily tested on the FAR CPA exam? – A: The AICPA exam blueprint states that select financial statement accounts cover up to 40% of the test. That means that almost half of the test will focus on that area, so you’ll want to devote the most study time to these concepts!
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    How long should I take on each testlet far?

    How to manage your FAR test time – FAR is a long exam that covers a ton of different topics, so you want to make sure you give yourself enough time to finish each section. Spending too much time on the first sections will most likely leave you with not enough time to finish the last ones.

    1. It’s a good idea to budget about 60 minutes for each MCQ testlet.
    2. You can spend the first 45 minutes of that going through each question.
    3. Then you can use the last 15 minutes to check your answers on the questions that you marked before you move on to the next testlet.
    4. With 33 MCQs in each testlet, that means you will have about 72 seconds to answer each question on your first run through the section.

    After utilizing 2 hours to finish the MCQs, you will have 2 hours to complete the 8 FAR TBS. That means you will have about 15 minutes to answer each task-based simulation in order to complete the exam on time. Four hours doesn’t sound like enough time to finish the entire exam, but it is if you pace yourself.
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    How long is the FAR exam format?

    CPA FAR Exam format – The FAR exam sections consist of five testlets to be finished in four hours with a 15 minutes break. The first two testlets are multiple-choice questions (MCQ), and the remaining three are task-based simulations (TBS).
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    How long does it take to study for BEC?

    Since it is not known as a particularly difficult or lengthy exam section, but still a significant challenge to pass on the first window, the experts say a study prep of 55 to 75 hours should be sufficient to pass the BEC.
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