What You Lose When You Fail the CPA Exam

As a CPA candidate, you’re likely familiar with the stress and effort that comes with studying for the CPA exam. It’s not an easy task to pass, and unfortunately, sometimes candidates fail their CPA exam. But did you know that failing your CPA exam can cost you more than just your time? Let’s break down what happens when you fail your CPA exam and how much it can cost you.

The biggest cost of failing your CPA exam is financial. Depending on where you live, a single Part of the exam can cost around $200-400. Each part has its own fee, so if you’re taking all four parts of the exam at once, that means that each sitting could be up to $1600! That doesn’t include fees associated with registering for the exams or study materials. Think about it — if it takes three sittings to pass all four Sections of the CPA Exam (which is very common), then you could be spending around $4800 in fees alone!

The time investment for passing the CPA Exam is significant — most candidates spend anywhere from 150-300 hours studying for each Section. This means if it takes three sittings to complete all four parts of the exam, then you could be investing over 900 hours into preparing for and taking your exams! That’s nearly 38 days worth of studying! And this doesn’t include any additional time spent prepping for other parts or waiting in between sittings.

Finally, there is also a mental cost associated with failing your exams. Most candidates already experience some level of test anxiety when they take their exams, but after multiple failed attempts these anxious feelings can become overwhelming. If this happens, then it may be necessary to seek additional help and guidance before continuing on with your studies. All these factors should be taken into consideration when deciding whether or not to retake a failed section or wait until later on in life to pursue becoming a Certified Public Accountant (CPA).           

    

In conclusion, failing any part of the CPA Exam can come at a high financial and emotional cost. Not only will you have to pay additional fees each time you sit for an examination, but also invest hundreds more hours in preparing for them as well as endure heightened levels of anxiety due to previous failures. However, by understanding why some people may fail their tests and creating an effective plan for passing them on subsequent attempts, individuals are able to minimize their losses and maximize their chances at success on future tests. With patience and dedication, anyone who puts in the work needed can still become a Certified Public Accountant (CPA). Good luck!