Thus, 50% of your score will be based on the multiple-choice questions and 50% will be based on the simulations. The MCQs and the TBSs are weighted the same. This gives you about 110 seconds to answer each multiple choice question! The rule of thumb is to leave around 2 hours for the task-based simulation. Thus, you could spend the entire four hours doing the first testlet and run out of time for the rest of the exam. You have to manage your own time while completing their exam. Seven of these simulations are operational and 1 is pretest. Most simulations are graded by computer and may involve the test-taker completing journal entries but can involve an array of tasks based on example case studies. There will also be one research question where you will be required to cite the authoritative literature to answer a questions. These simulations are formatted in several different ways from matching to fill-in-the-blank. The second two simulations are consist of 8 task-based simulations. Second guessing yourself can lead to changing correct answers. More times than not, your first thought or gut reaction is correct. Out of the 66 total MCQs, 54 will be count toward your score and 12 will be pretest questions that won’t count against you.įAR CPA Tip: Don’t second guess your answer. One correctly answered hard question is worth more than several correctly answered easy questions. It sounds weird, but you want the harder questions. If you do poorly on the first set, you will get an even easier set for the second testlet. If you do well on them, the second set will be more advanced questions. The first set of questions will be medium difficulty questions to gauge your understanding of the topics and concepts. Each testlet contains 33 multiple-choice questions. Ther are two multiple choice testlets in FAR. State and Local Governmental Accounting: 5% – 15% – these topics typically cover generalized and very non-specific overviews of fund accounting and governmental accounting in general.
Transactions: 20% – 30% – will cover computation and recognition of certain operations and items on the statement like contingencies, leases, etc.
You should be familiar with the financial reporting process for both nongovernmental and non-profit organizations.įinancial Statement Accounts: 30% – 40% – these topics include the evaluation of balance sheet, income statement, cash flow statement, and statement of retained earnings accounts as well as transactions that affect these accounts. View All What’s on the FAR CPA Exam Section?Ĭonceptual Framework and Financial Reporting: 25% – 35% – these topics cover different aspects of standard setting, understanding of financial statements, and several reporting. 5.Gleim CPA Review Course Most Task-Based Simulations.4.UWorld Roger CPA Review Courses Best for Engaging Video Lectures.Wiley CPAExcel Review Course Best Instructor Support 2.Surgent CPA Prep Course Best Technology + Save $1,200.1.Becker CPA Review Course Endorsed by Big 4 Accounting Firms.
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