I have talked to a few different people who have used multiple different study methods and have mixed opinions. The most popular methods that the different candidates, that I talked to, used were in-class lectures using the fast pass method, in-class lecture using the night or weekend method, and lastly self-study with pre-recorded video lectures. Ultimately, what it comes down to is what works best for you. I included below a few of the major pros and cons that candidates told me of and hope they help anyone that is still determining what method to use.
Fast-Pass: The fast pass method is one that allows you to utilize your summer to have an intensive review of all four sections of the CPA exam concurrently. It is intensive and like summer school allows you to cover a lot of material in a short amount of time. The person I talked to that used this method complained that they went over so much material in such a short amount of time that it was difficult to remember it all. There are a few pros and cons to this method:
Pros:
- Still have access to all the pre-recorded tapes and videos for use outside of the classroom
- Efficient use of time & summer that allows you to review all 4 topics before starting work.
- Short breaks after each section that allow you to catch up or take an exam if you are ready
- Allows students prone to procrastination to stay on track
- Allows you to directly interface with teacher instead of just using a pre-recorded video
Cons:
- Not feasible for people with busy schedules. Days can be as long as 12 hours a day in classrooms and expected studying before and after
- Don’t get to choose what section of the exam you do first (I.E. Audit before Regulation or visa-versa)
- Leaves less time to really absorb the material and really pushes your memory to the limit
In-Class Lecture: I know some people really like this method and you typically can choose to go to classes on the weekend or at night depending on preference. This method has is more reasonably paced for full-time test takers who cannot consider the Fast-Pass option due to work constraints.
Pros:
- Still have access to all the pre-recorded tapes and videos for use outside of the classroom
- Easier to synch study schedule with test taking schedule then fast-pass method
- Provides structure without being as demanding as the fast-pass
Cons:
- Takes longer then Self-Study and accelerated fast-pass method
- Need to permanently adjust your schedule to ensure you can make classes
- Don’t have luxury of skipping lectures/topics you are really clear on (Can only go as fast or slow as classmates)
- Don’t get to choose what section of the exam you do first (I.E. Audit before Regulation or visa-versa)
Self-Study:
Pros:
- Can go at your own speed, based on your own schedule in any order you prefer
- Get to choose what section of the exam you do first (I.E. Audit before Regulation or visa-versa)
- Don’t have to leave your comfort zone to go to classes; Less of a hassle = 0 Commute time
- Greatest Flexibility
Cons:
- Don’t have teachers/professionals to ask questions to when you are really struggling
- If you are a procrastinator it may be difficult to keep going and motivate yourself
- Don’t get advantage of hearing teacher tell you the most current information or having them explain it multiple times in different ways until you fully grasp the topic.
In the end you have to just look at your situation and yourself and determine what method is best for you. I have been doing the self-study method which allows me to choose the order I take the tests in, adjust my schedule accordingly, and also provide flexibility for those sunny beach days that are just too good to turn down (I’m hoping we have one or two left this summer!). Motivation is sometimes hard but once you get yourself into a routine it becomes easier.
Kevin
