Want to learn how to recover from failing the CPA Exam, how to study for a retake and how to pass the next time around?
Then you are in the right place.
After working with over 2000+ CPA candidates who have failed at least one section of the CPA exam, these are the trends and rookie mistakes that I see CPA candidates making.
Read on to learn 12 ways to fail the CPA Exam and 10 ways to prepare for and recover from CPA exam failure!
12 Proven Ways To Fail The CPA Exam: Don’t Do These!!
I failed the CPA exam 7 times before I discovered a method for passing the CPA exam.
I was an expert at failing.
Here were the 12 proven ways to fail the CPA exam:
1. Not taking the exam seriously.
This isn’t like any college exam you have ever taken.
It requires a significant investment of time and research upfront so that you don’t lose motivation make costly mistakes later.
The biggest mistake I see CPA Candidates making is not understanding how to study by identifying how they learn best.
Time is your worst enemy on the CPA exam and if you aren’t using it wisely then you are setting yourself up for failure.
Best recommendation is to take a CPA exam study personality quiz to help you determine the best way you should study for the CPA exam.
Here’s a free quiz you can take right now: www.FreeCPAquiz.com
2. Not having a CPA exam mentor
A CPA Exam Mentor is going to give you personalized advice that your CPA Review Course won’t give you.
Don’t try to recreate the wheel!
Find someone to coach you on how to pass based on your specific situation.
Don’t have a mentor/coach? You can apply here to find one – www.MyCPAmentor.com.
3. Not having an accountability partner.
If you don’t have the people in your life involved in this process, then you risk isolation, loss of motivation and ultimately giving up.
CPA Exam Depression is real and you need to do whatever you can to curb its nasty effects.
4. Not having a CPA exam community.
Without surrounding yourself with other CPA candidates who are smarter and more motivated than you then you are putting yourself at risk of isolation, loss of motivation and ultimately giving up.
5. Assuming that your CPA review course will do all the studying for you.
Just because you read all the text, watch all the lectures and answer all the questions does NOT guarantee you will pass.
To pass the CPA exam you have to gain a true understanding of the AICPA blueprints.
The best way to do this is to implement the U.C.E.G. Method.
6. Scheduling all four exams in a row and not allowing any room for error.
Flexibility is key to passing the CPA exam.
If you fail a section then you MUST be able to take it again ASAP.
If you don’t then you will lose all of that short-term memory you have worked so hard to gain.
Best advice, only sign up for 1-2 sections at a time and don’t move onto the 3rd until you have passed at least one of the first two.
7. Not preparing for the real exam by taking mock exams and recreating the real exam experience.
Understanding the AICPA blueprints is only half the battle.
You have to be able to complete every question within your 4-hour time slot.
This makes time management and stress management essential to your success.
The only way to prep for these scenarios is by locking yourself in a room away from all distractions and recreating the Prometric experience with a mock exam.
8. Focusing on memorizing questions and not truly understanding the material.
Don’t just assume that because you got a question right that you understand the WHY.
Without understanding the why then it will make answering the random task-based simulations you will see on the real exam very difficult.
9. Assuming busy work is a good use of your time.
Every minute counts when you are studying for the CPA Exam.
You can’t waste it on busy work such as recreating study materials that already exist or watching 100% of the video lectures + reading 100% of the text.
Find the study activities that are most efficient for you and double down on those activities and cut everything else out.
I put together 25 study tips that will help you avoid this!
10. Assuming that the act of completing 100% of the questions + 100% of the text + watching 100% of the video lectures + making copious notes guarantees you will pass.
Be smart and study based on your unique Study Personality and not what your CPA Review Course recommends.
11. Procrastinating on sitting for a retake. The longer you wait, the harder it will be to recall what you do understand.
If you find out your score in the middle of studying for a different section then sit for that section first.
Next, sign up for your retake and immediately dive into studying for it.
12. Giving yourself more than 12 weeks to study for any given section. More time is not better. High-intensity studying is the key.
This may sound counterintuitive, but the longer you give yourself the study the worse you will likely do.
The CPA Exam is not a marathon. You don’t want slow and steady.
You want to treat it like a sprint. Go all out for 6-12 weeks with HIGH intensity.
Take a brief break and start all over again.
Now that you know how to fail the CPA exam then let’s figure out how to recover from failing the CPA exam and overcome the fear of failure so you are mentally prepared.
10 Ways To Mentally Prepare & Recover From Failing The CPA Exam
1. Failing The CPA Exam Is Normal
Understand the CPA exam statistics. On average around 46-52% of CPA candidates will fail any given section.
Failing the CPA exam is normal and is by design.
2. The CPA Exam Has To Be Hard By Design
If every CPA candidate passed the CPA exam then the license would lose its value.
Study harder and smarter than everyone else.
If you aren’t sure how to study for the CPA exam then I recommend taking a CPA Exam Study Personality Quiz.
Here’s a free one you can take right now:
3. Failing The CPA Exam Does Not Mean You Aren’t Smart
Failing the CPA exam is not like failing a college class.
It’s 100% NORMAL to fail the CPA Exam.
Instead of wallowing in sorrow and self-pity.
If you fail, use it as a motivation to improve, not a reason to give up.
NASBA and the AICPA want to reward the most persistent accountants as do your clients.
4. Don’t Recreate The CPA Exam Wheel
Find a CPA exam mentor with experience recovering from failure.
He/she will be more than happy to share their advice for recovering and how you can as well.
5. Plan Ahead
Always schedule each section with the worst-case scenario in mind.
Meaning, sit at the latest possible date to ensure the least amount of wait time between score releases and leave your schedule open for a fast retake if necessary.
6. Track Your Weaknesses
Always track your weakest areas that you’ve identified and keep that document.
How do you do this?
Leverage the power of your CPA Review Courses analytics to see in real-time where you are performing weakest.
It will be the starting point if you have to retake any sections.
7. One Step At A Time
Don’t schedule more than 1 section at a time.
Otherwise, you lock yourself into sitting for sections even if you fail.
This will make passing your retake much harder.
With continuous testing, you can find out your score, and within 72 hours schedule your retake and dive back into the material.
8. Don’t Take The CPA Exam Alone
Find a CPA exam community with folks who share if they fail.
Not only can you learn from these folks but you can find tons of motivation by commiserating with fellow CPA candidates in the same situation as you.
Don’t have a community?
You can apply to join our community at www.MyCPAmentor.com.
9. Find An Accountability Partner
Your accountability partner needs to be aware of the pass/fail statistics so that if you fail, they can remind you that failure is just a normal part of the process.
They also need to be encouraged to remind you WHY you are taking this exam in the first place.
10. Be Honest With Yourself
Be honest with your CPA exam mentor if you have a fear of failure.
This fear, if not eliminated, will hold you back.
Your mentor needs to help you squash this fear as soon as possible!
Next Step?
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