[75 CPA]

A 74 on my AUD exam means that I am within spitting distance. My computer jammed for 10 minutes on that exam and I did not get to do the last research question correctly. I already knew going into the exam that it would be close. I made a 74 on my practice exam with Gleim.

I think that I passed this last exam, even if I had only 8 days to study. Besides the Yaeger Cram, I also did all of the Wiley questions from the Yaeger Home Study, and I did 100% of the Wiley questions on evidence.

What is actually worse than making a 74 is retaking an exam that you already passed. That will happen to me if I did not pass this last AUD exam.

I really feel for all of the CPA candidates who are in the position of retaking exams that they already passed. No one who has passed all 4 CPA exams on the first try can really understand how these CPA Candidates feel. It is really great to have Jeff as the owner of this website because he knows the feeling!

I really have to take my hat off to the AICPA. They really have designed this CPA game to make you discouraged so that you will quit. 17% to 25% of the CPA candidates actually do quit. I think of the AICPA as a gardener that wants to pull all of us weeds (CPA candidates).

I do not think that there is anything that the AICPA does that is by chance. Even a long 4 to 7 week wait for my scores, which is ridiculous in this computer age, may be designed for two purposes. First, the AICPA gets to play with the scores. Second, we CPA candidates tend to worry, become unmotivated to study, and waste time while that 18 month clock keeps ticking.

The CPA exams are just a game. However, they are a very important game. What these exams have taught me is how to play the game. It has been a long three years and hopefully I am finished playing the game. I have learned my lessons on playing the game very well!

[FARbehind]

This game is designed to make the most money possible. Maybe some candidates do quit but first they leave a lot of money in this “garden”. It is all designed that the most failing grades are between 67 and 74 so that they can keep people like us on the leash for a little longer. Candidates will tell themselves: I am so close. In fact, 67 or even 69 or 70 is not close at all. They should give us our tests back so that we can learn from our mistakes. Instead, they make it impossible to even ask a teacher. When I ask a becker instructor a question from the exam, they do not answer. They are just part of this big money making machine. And even in class they are like reading, underlying and highlighting robots… If somebody asks a question during class they say: this is beyond the scope of this exam, you are overthinking it and move on…

I cannot believe aicpa is not-for-profit.

aud,bec,reg-passed
far-->75 Done!!!!!
ethics-100

[75 CPA]

Not-for-profit does not mean that there is no profit!

The AICPA says, “A score of 75 indicates examination performance reflecting a level of knowledge and skills that is sufficient for the protection of the public.” “The protection of the public” statement is for public consumption. Most people are naïve enough to buy this cover story. The CPA exams are about the self-interest of the AICPA. Economists call this type of behavior “rent-seeking.”

“Rent seeking is the term used by economists when referring to actions taken by individuals and groups seeking to use the political process to plunder the wealth of others (Rowley, Tollison, & Tullock).” Rent-seeking behavior is the idea that government licensure of professions is necessary to protect the public. Milton Friedman, 1976 Nobel prize winner in economics, wrote his PhD dissertation at Columbia in the 1940’s on rent-seeking behavior. He refuted the constantly repeated mantra of rent-seeking behavior. Milton Friedman’s works provide empirical evidence that licensure is nothing more than a mechanism used by members of a profession to raise the entry costs, and thus keep wages and profits artificially high. Rent-seeking behavior improves the welfare of someone at the expense of the welfare of someone else (Baker, Morris, Barnett).

Now I understand why the CPA license requirements went up from 120 hours to 150 semester hours! Accounting majors who graduate with 120 hours are not “qualified” to sit for the CPA exam. Voila! Fewer CPAs translate into higher fees.

The sole purpose of the CPA exams is to keep us from being CPAs. We are all weeds that the AICPA would like to pull (rent seeking behavior). We are not being tested on how smart we are. We are being tested on our perseverance. Additionally, the very tight time constraints on the exams have nothing to do with one’s knowledge of the subject. It is just another device to eliminate CPA candidates.

References

Baker, R., Morris, D. & Barnett, J. (2001). How a free market creates wealth. Verasage Institute.

Rowley, C. K., Tollison, R. D., & Tullock, G. (1988). The Political Economy of Rent-Seeking. Boston: Kluwer Publishers.

[mike01]

I try to look at it from a different angle. If it was easy CPA's would be making minimum wage. It is a professional liscense that only requires 150 hours of education. I admit I have been frustrated too, but I keep telling myself, two more test and I am done. The barriers to entry help all exsisting CPA's and soon you will be one too.

[financeguy]

I believe just about everything in life is some sort of game. Sometimes it is almost better if you don't “figure” some things out. I have always thought stupid people have a much easier time making it through life. Sometimes there is no “unlearning” something and you almost wish as if you never learned it in the first place.

AUD - 81, BEC - 74, 80, FAR - 82, REG - 81
Done!

[FARbehind]

“The sole purpose of the CPA exams is to keep us from being CPAs…….”

This becomes my thought of the day today. 75 CPA I give you credit for that.

mike01 I agree, I try to be generally optimistic but I have my days when I neet to vent. These moments become more frequent when you go to an exam for a third time and exit from there feeling like this was a bad joke again… I know when I pass I will feel like this is the best process and will think how great aicpa is…

Good luck guys!

aud,bec,reg-passed
far-->75 Done!!!!!
ethics-100

[MPoni123]

If the CPA exam were easy…EVERYBODY would be a CPA. The same applies to doctors, lawyers, etc. It's what sets you apart from regular public accountants who just graduated with their bachelors degrees in accounting. These institutions have no choice but to weed out the weak and make sure that based on their guidelines, only the strongest survive. “Knowledge” is knowing the material enough to get a 75…”skill” is having the ability to finish these exams within the time constraints given. It is what it is!

I agree that we should be able to see our exams and know what we got wrong…that's how we learn. They think that giving us a performance sheet with our weak areas is sufficient though for us to learn from our mistakes. I mean being a CPA is about ethics, too so it really wouldn't make sense that everybody could see the exams and know the questions on them, etc. Can't come right out of the gate being sketchy!

As Cindy from Yaeger would say, “everything can't be easy!”

Keep your head up!!

AUD - 84; REG - 90; BEC - 79; FAR - 75; ALL DONE!!

[nolifecpa]

i know this sounds stupid but we are all fortunate to be suffering through this process. look at the day laborer on the street who breaks his back all day to make $80, they're not eligible to sit for the exam if they wanted to. i think about this when i sit in my air conditioned room in front of my computer and lift my heavy pen instead of shoveling dirt in the heat. like everyone, i hate this expensive torturing process but it makes passing that much better!!!

REG-65,71,74,73,70,74,79
BEC-60's,60's,69,71,76*,78
FAR-67,66,65,79
AUD-54,60's,65,83*,69,80
*expired

DONE

[75 CPA]

Just being able to sit for AUD three times, like I have, is still an opportunity and a blessing that few people in this world get. I have already spent 30 years in a previous career. I am 64 years old and accounting is an entirely new career for me. I am as excited and nervous as I was when I went on my first date.

After, not before, I receive my final passing score, I want the AICPA to pass only 10% of the rest of you guys. Since I am 64 years old, I will have a better opportunity competing for a job with all of you who are younger. There is nothing like a real CPA shortage to give us old guys a better chance at working and making more money.

Of course, I am just teasing you guys. There already is a shortage of CPAs and there will always be a shortage of CPAs. I wish all of you the best. The best way to beat the AICPA system is to never give up on your dream.

May God Bless All of You.

[Anonymous]

Keep after it 75 CPA! You've got the life experience to know that you can hang in there when things get tough. Best of luck to you.

[Senk Tank]

Having a CPA does not directly correlate to making more money. Also you have to pay yearly dues. It definitaly has its advantages but take a step back and look at the stucture as a whole…

Embrace the Pain

"Quality over Quantity" - Tony Horton, P90X

AUD - 84 10/2015
REG - 91 2/2016
BEC - 5/28/2016

[Just PlainPA]

75 CPA, you hit the nail on the head.

Matter of fact, it's funny your brought up this subject when you did because as you created this thread, I was on the phone with another Eternal CPA candidate and we were discussing this very subject and how this exam is engineered to serve as a very sophisticated moneymaker for the AICPA.

Be advised, 75, that even if you know the material like the back of your hand, your chances of actually passing the exam can still be a crapshoot at best. When I realized this, it completely vindicated my decision to not pursue the exam. But again, that's just me. My personal circumstances made my decision a relatively regret and guilt-free choice to make. Not everyone is in the same situation, thus YMMV. But it's good to know exactly what you're dealing with regarding the CPA exam because you can better assess the costs against the benefits to see what's the better option.

Great topic, 75 CPA. And so very much true!

AUD - 79
BEC - ?? 10/1/15 (Tentative)
REG - ?? 11/?/15
FAR - ?? Winter 2016

[nfs480]

This thread is from two years ago, wtf?

FAR 93
AUD 89
REG 81
BEC 87
Ethics 100

Becker 2012 Self-Study

[Anonymous]

“The sole purpose of the CPA exams is to keep us from being CPAs.”

I really don't like logic like this. If every damn fool could become a CPA, what would be the value in becoming a CPA? In fact, I'd like to take it even further. I know this will be extremely unpopular especially with people who are struggling to pass the exams, but if the AICPA is really trying to “protect the public interest”, I think there should be a reasonable limit on how many times you are allowed to take the exam. 2 or 3 times per exam perhaps? As an example, If someone passes the CPA exam after years of attempts, do I really feel comfortable with them being a CPA who is supposed “to protect the public”? I'm going to have to go with a no. In fact, I've heard of people scoring in the 30s before on the CPA exam. I feel like that alone shows incompetence unless they flat out just decided to randomly take the test that day. Also, why should that person have the same certification as someone who passed all of their exams on the first try with scores in the 90s? And, I'm not trying to pick on anyone who has had to take the test multiple times. In fact, I believe competent people would pass far more frequently if they had this limit because people would make sure to be FAR more prepared when they actually take the test as opposed to haphazardly taking the test just because you can.

[Anonymous]

@ cardinalhoya

I hate to break your little circle jerk of thought, but your logic is flawed.

There are some people who pass the exam over a few years because of circumstances beyond your comprehension level. Marriages, kids, families, full time jobs…

I am fortunate to have had absolutely nothing to do but study because I'm doing the CPA for personal reasons, I don't even plan on working in that field. It's not that difficult of an exam. I'm going to be a CPA in a few months, and I assure you that I will NOT be a single drop of a more competent CPA than let's say, a mother of 5 who's been an accountant for 10 years but just couldn't pass the exam because of whatever reasons.

You are a nobody to decide who's competent and who's not. I have nothing but respect to all the fighters who struggle with this exam, because if I had to work a job and spend time with my kids, it would be one hell of a grind.

Congratulations on pissing me off enough to log in and post this.

[Anonymous]

CPATime, you missed my point where I said I understand why people have to continually take multiple tests UNDER THE PRESENT SYSTEM. However, if the system was changed where you could only take 2 or 3 attempts, this would change how people prepared for the exam including mothers of 5. They would prepare much more than under the current system [although I would definitely propose a more equitable way of testing where someone couldn't just end up getting a bunch of random questions putting them at a disadvantage]. The advantage of this system is that if they were actually competent enough to “protect the public interest”, they would be able to pass the exam on the first, second, or even third attempt because they would just have to be forced to study harder. However, those who weren't would be weeded out.

Again, I know this is the unpopular opinion, but please step back and think about the warrants of the argument, before just attacking it without proper thought. Your argument is clearly addressed already. You're addressing the STATUS QUO conditions which in a way actually incentivize the process to be drawn out by not limiting the number of retakes.

[Author]

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