Signing up and taking the CPA exam can be stressful.
While this is true, there are some CPA exam facts that you may not know. Getting to know some of these things may even help you better prepare for the upcoming exam.
While it is also a good idea to look at a becker cpa review alternative, these facts will be beneficial when deciding to take the CPA exam.
1. Delaware Problems
Of all 48 states, Delaware has the lowest first-time pass rate. Main comes in second.
California is the state with the largest number of candidates sitting for the test each year.
3. Overachievers in Utah
Utah has had the highest first-time pass rate, at 65.9%. Coming in behind Utah is North Dakota, then Kansas.
4. School Sensation
Of the first-time candidates with advanced degrees sitting for the exam, the University of Phoenix had the highest rates. Number six on the list was Keller Graduate School.
5. Wake Forest
This school had the highest first-time pass rates with 96% of the 217 exams that were taken being passed. This means that only nine people failed.
6. Best Age for Passing the Exam
Candidates that had the highest pass rates for the CPA exam were under the age of 22. This is true for both men and women.
7. Worst Age for Passing the Exam
Candidates age 35 or older had the lowest pass rates. Their average score was just 67.
8. CPA Average Salary
Once a person passes the CPA exam, they can expect to earn $65,397; however, this varies based on where the person is hired.
9. Preparation Statistics
When studying for the CPA exam, the content areas a person should spend the most time on include the FAR and the AUD. While this is true, they should not neglect the BEC and prepare for it, too.
10. The BEC
Approximately 61.2% of all people who took the CPA exam passed the BEC portion of the test.
11. More BEC Info
It is estimated that 68.5% of all the CPA candidates who took the test received a higher score on the Economic Concepts and the Analysis content sections.
12. The FAR Section
Approximately 49.9% of all people who took the CPA exam passed the FAR portion. This is almost as much as the BEC.
13. Easy as Pie
The easiest part of the CPA exam to pass was the BEC section -; Business Environment and Concepts.
14. Continued Growth in the Field
It is believed that the employment rate for professionals who work as accountants or auditors is going to grow by around 6% over the next decade.
15. Gender Gap
In 2019, out of the 30,903 Bachelor’s and master’s degree graduates that were hired at CPA firms in 2018, 51% were female and 49% were male.
16. Bachelor’s Over Master’s in the Hiring Pool
Most people who were hired to CPA firms had a bachelor’s degree. Master’s degree holders are the second most hired group.
17. Pay Expectations
Recent reports have shown that male accountants made about $324 more than their female counterparts.
18. Spain Wins
Spain is the country with the highest rate of CPA exam pass rates. Approximately 75% of exam takers will pass the exam.
19. Netherlands Come in Second
The country with the highest second pass rate for the CPA exam is the Netherlands. Their pass rate is 68.6%.
20. Texas Is a Great State for Accountants
Texas comes in right behind California when it comes to accountant hires.