[joni]

I’ve been studying with Wiley’s four CPA Exam Review books. If I know 75% of the information in Wiley, and get 75% on the tests in the book, will I get (on average) a 75% on the exams? Specifically:

1. Are there any topics covered on the exam that Wiley doesn’t cover?

2. Does the exam use the same terms that Wiley uses?

3. Is the structure of the questions similar?

4. Wiley states that ‘A communication response is not graded for technical accuracy.’ (Wiley CPA Exam Review BEC 2013, bottom of page 14). What????

4. Wiley states that you shouldn’t use bulleted lists in the memos (can’t find the page but I know I’ve seen it). Is this accurate? I’d think that a memo should be short and sweet without excess words. Has anyone seen this advice in other study guides? Has anyone used bulleted lists in the ‘write a memo’ simulations and lost points for it?

5. Anything else I should know?

Thank you.

[J]

I'll try to answer a few of your questions but with respect to your introductory sentence… I can't tell you that; it really depends on how things work out on exam day. The general conclusion seems to be that Wiley questions taken as a whole (especially the questions in the book) questions are more difficult than actual CPA questions, and generally your actual score is higher than your average Wiley score. Again though, it depends on your exam and your performance.

1) Probably, but they're very rare. My opinion is that Wiley goes overboard on a lot of the topics with superfluous information; I remember an example from FAR when it goes through and lists like 30 different disclosures for pensions. Yaeger CPA Review is good at picking out what is most important from Wiley and building on that rather than reading the book cover to cover.

2) More or less, yes.

3) Wiley questions (again, especially those in the book) are often more elaborate and detailed than actual CPA questions, in my opinion. Furthermore, you'll never have multiple MC questions that deal with the same information, as Wiley occasionally does (i.e. Questions 9 through 11 refer to the following).

4) I just touched on this in another thread, but what you write in the written communications does not have to be technically accurate as long as its communicated effectively. For example, you could be asked to communicate the three sections of the Statement of Cash Flows and what you'll find in each… get nothing technically correct… and as long as you've written well and communicated effectively, you can still score well. With respect to the bullet points/lists in the WC, that's what Cindy Simpson from Yaeger said as well – none of those should be used.

5) Not that comes to mind right now…

[mla1169]

You have to realize a 75 on the exam is not 75% correct. A 75 represents a threshhold that means you've demonstrated enough knowledge to satisfy the AICPA. I've read of people scoring in the 60's in Wiley who passed, and scoring in the 80's in Wiley who did not. That said, scoring consistently in the mid-70's has been accepted as a good sign!

Nearly everybody leaves the exam feeling like they were asked questions that were not covered in their review, regardless of what they used. In fact I had one question on AUD that I looked up after my exam and I can guarantee you it was nowhere in Wiley. No matter, I passed that time.

FAR- 77
AUD -49, 71, 84
REG -56,75!
BEC -75

Massachusetts CPA (non reporting) since 3/12.

[Author]

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