[Anonymous]

I’m thinking of doing it. Who’s with me?????

Level 1 will be slayed in December 2013.

Per my research, Level 1 = 75% of total CPA exam. If that’s true, then it will be a breeze. (maybe a strong gust…but nowhere near a hurricane)

Level 2 is the beast I’m worried about.

We must escape public accounting!!!!!!!!!!

[The_Intangible]

I'm taking the opposite approach to most, I did the CFA first. I hope to take (and pass) each part of the CPA by the middle of next year. For me, I'm a touch odd. I loved the CFA. Level I to me was the hardest but only because I wasn't very prepared for it. The content of Level II was my favorite so I passed easily although it definitely is considered the hardest. I simply loved studying for it (hence “odd”). Level III was a pain. I failed the first time (came very close to passing) but passed the following year. I'd do it all again in a heartbeat.

From a practical perspective, the CFA got me a rather substantial raise but that's about it. If you don't work for one of the big investment banks or manage a ton of wealth it seems you likely could get by without it. I work in private equity and I see everyday how hugely important CPA knowledge is (taxes esp.).

Regarding how hard it is, here's a quick story: I took a practice level III exam offered by Kaplan and met a girl who appeared to be woefully unprepared. After the results of the real exam were posted, she reached out to me and told me she didn't pass. I also discovered she was a Harvard grad.

Moral of the story: You will pass any exam you are prepared for. You will fail otherwise.

[The_Intangible]

I'm taking the opposite approach to most, I did the CFA first. I hope to take (and pass) each part of the CPA by the middle of next year. For me, I'm a touch odd. I loved the CFA. Level I to me was the hardest but only because I wasn't very prepared for it. The content of Level II was my favorite so I passed easily although it definitely is considered the hardest. I simply loved studying for it (hence “odd”). Level III was a pain. I failed the first time (came very close to passing) but passed the following year. I'd do it all again in a heartbeat.

From a practical perspective, the CFA got me a rather substantial raise but that's about it. If you don't work for one of the big investment banks or manage a ton of wealth it seems you likely could get by without it. I work in private equity and I see everyday how hugely important CPA knowledge is (taxes esp.).

Regarding how hard it is, here's a quick story: I took a practice level III exam offered by Kaplan and met a girl who appeared to be woefully unprepared. After the results of the real exam were posted, she reached out to me and told me she didn't pass. I also discovered she was a Harvard grad.

Moral of the story: You will pass any exam you are prepared for. You will fail otherwise.

[jasonrobbins]

@ The_Intangible

I'm trying to wiggle my way into a private equity group. I'm the director of operations at a start-up now. Any suggestions? I'm based in NYC.

Thanks!

AUD- 97 1x
REG- 81 1x
BEC- 79 1x
FAR- 88 1x

DONE!

10/1/12 to 2/28/14

[jasonrobbins]

@ The_Intangible

I'm trying to wiggle my way into a private equity group. I'm the director of operations at a start-up now. Any suggestions? I'm based in NYC.

Thanks!

AUD- 97 1x
REG- 81 1x
BEC- 79 1x
FAR- 88 1x

DONE!

10/1/12 to 2/28/14

[Anonymous]

No offense but the to assume that someone from an Ivy league school is more intelligent or more likely to pass an exam for the board in any area of study, or even to use them as a bench mark, is woefully ignorant to what board exams are and what true measure of intelligence equates too – legacy here does not apply.

Once again, I assert, everyone I know studying for the CFA has a connection into a hedge fun either by relative or extended family or big business family ties and is not exceptional in any regard in terms of academics. Most of my academic friends are studying to be CPA's or doctors, or worst of all, lawyers.

[Anonymous]

No offense but the to assume that someone from an Ivy league school is more intelligent or more likely to pass an exam for the board in any area of study, or even to use them as a bench mark, is woefully ignorant to what board exams are and what true measure of intelligence equates too – legacy here does not apply.

Once again, I assert, everyone I know studying for the CFA has a connection into a hedge fun either by relative or extended family or big business family ties and is not exceptional in any regard in terms of academics. Most of my academic friends are studying to be CPA's or doctors, or worst of all, lawyers.

[The_Intangible]

@jasonrobbins, If you know operations and there are PE firms that are active in your space, you would be very valuable to them. It's just a matter of networking. NYC is full of them. Try attending a lunch at the New York Society of Security Analysts: https://www.nyssa.org/. I'd be willing to bet you'll meet plenty of people in PE.

[The_Intangible]

@jasonrobbins, If you know operations and there are PE firms that are active in your space, you would be very valuable to them. It's just a matter of networking. NYC is full of them. Try attending a lunch at the New York Society of Security Analysts: https://www.nyssa.org/. I'd be willing to bet you'll meet plenty of people in PE.

[The_Intangible]

@AlexDernfel My only point was that no matter how smart you are, you will fail an exam you are not prepared for. Calling an exam difficult is completely relative. I'd also say that it's a safe bet that an Ivy League grad is very likely a very smart person. This was written only to support my point.

[The_Intangible]

@AlexDernfel My only point was that no matter how smart you are, you will fail an exam you are not prepared for. Calling an exam difficult is completely relative. I'd also say that it's a safe bet that an Ivy League grad is very likely a very smart person. This was written only to support my point.

[Study Monk]

I got it The_Intangible. I have been reading a lot of posts about FAR being “hard” and a “beast” and I often wonder if a lot of these people just didn't put the required time in. The material is not hard par se but it looks like it will require over 200 hours of study. Do the people who think it is hard put in 180 hours? Do the people who say that is not that bad put in 220 hours?

I have a feeling that if i don't pass FAR this coming December it will be because I didn't do enough hours of study time and not because of some limitation in my test taking ability. So thanks The_Intangible for your insight.

I spoke to an ancient wise man who sent me on a mushroom induced journey through an ancient forest to find the key to passing the CPA exam. A talking spider monkey told me to throw the last of my drinking water in the dirt to find what I was looking for. So I followed his instructions and the following message appeared in the soil:

"Do 5000 multiple choice questions for each section"

[Study Monk]

I got it The_Intangible. I have been reading a lot of posts about FAR being “hard” and a “beast” and I often wonder if a lot of these people just didn't put the required time in. The material is not hard par se but it looks like it will require over 200 hours of study. Do the people who think it is hard put in 180 hours? Do the people who say that is not that bad put in 220 hours?

I have a feeling that if i don't pass FAR this coming December it will be because I didn't do enough hours of study time and not because of some limitation in my test taking ability. So thanks The_Intangible for your insight.

I spoke to an ancient wise man who sent me on a mushroom induced journey through an ancient forest to find the key to passing the CPA exam. A talking spider monkey told me to throw the last of my drinking water in the dirt to find what I was looking for. So I followed his instructions and the following message appeared in the soil:

"Do 5000 multiple choice questions for each section"

[The_Intangible]

Study Monk, no problem man! Your last line says it all. If you begin with the end in mind and you've mapped out a path to get there, you will make it. With any professional exam, regular and disciplined study is of huge importance. Constant review of material you've covered is key too.

If you put in the time and practice enough, you will pass. If you don't, there's nothing to really get worked up about. It just means there's something you didn't know as well as you should have. You will have an advantage the second time around. I've noticed in people's posts that their scores don't tend to go down when they have to repeat a section. It happens but that is generally not the case.

[The_Intangible]

Study Monk, no problem man! Your last line says it all. If you begin with the end in mind and you've mapped out a path to get there, you will make it. With any professional exam, regular and disciplined study is of huge importance. Constant review of material you've covered is key too.

If you put in the time and practice enough, you will pass. If you don't, there's nothing to really get worked up about. It just means there's something you didn't know as well as you should have. You will have an advantage the second time around. I've noticed in people's posts that their scores don't tend to go down when they have to repeat a section. It happens but that is generally not the case.

[gt5717b]

I already have a CFP and am close to finishing the CPA. I would be lying if finishing off the triumvirate hadn't crossed my mind.

REG - 89
FAR - 84
AUD - 73, 86
BEC - 89

GA Licensed CPA

[Author]

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