CPA Exam Complete Guide: Sections, Costs, Timeline, and Study Strategy

The Certified Public Accountant license is one of the most valuable professional credentials in the United States. CPAs earn a median salary of $79,880/year (BLS), with experienced CPAs in public accounting, corporate finance, and advisory roles earning $100,000–$200,000+. But earning the CPA designation requires passing one of the most challenging professional exams in any field. Here is your complete roadmap.

CPA Exam Structure (2024–2026 Format)

The CPA exam underwent a major restructuring in January 2024 under the "CPA Evolution" model. You now take three core sections plus one discipline section of your choice:

Core Sections (Required for All Candidates)

Section	Full Name	Hours	Key Topics
AUD	Auditing and Attestation	4 hours	Audit procedures, evidence, internal controls, ethics, PCAOB standards, sampling, reporting
FAR	Financial Accounting and Reporting	4 hours	GAAP, financial statements, leases, revenue recognition, government/nonprofit accounting, consolidations
REG	Taxation and Regulation	4 hours	Individual and entity taxation, business law, tax procedures, ethics and responsibilities

Discipline Sections (Choose One)

Section	Full Name	Hours	Best For
BAR	Business Analysis and Reporting	4 hours	Public accounting, financial reporting roles. Covers technical accounting, data analytics, and financial statement analysis.
ISC	Information Systems and Controls	4 hours	IT audit, systems consulting, cybersecurity-adjacent roles. Covers SOC reports, IT governance, data management.
TCP	Tax Compliance and Planning	4 hours	Tax practice, advisory, estate planning. Covers entity tax compliance, individual planning, special tax situations.

Most candidates choose BAR if they plan to work in audit/assurance or financial reporting, and TCP if they plan to specialize in tax. ISC is the least common choice but is growing in demand as firms expand IT audit and cybersecurity advisory practices.

The 150-Credit-Hour Requirement

Before you can even sit for the CPA exam in most states, you need 150 semester hours of college education — that is 30 hours more than a standard bachelor's degree (120 credits). You also need a minimum number of accounting and business credits (typically 24–36 accounting hours and 24 business hours, varying by state).

Common ways to reach 150 hours:

• Bachelor's + Master's degree — Most common path. A 5-year BS/MAcc combined program is available at many universities.
• Bachelor's + additional coursework — Take extra classes at a community college to fill the gap. Often the most affordable option.
• Bachelor's + CLEP or DANTES exams — Some states accept credit-by-examination to reach 150 hours. Check with your state board.

A few states (including California and several others) allow you to sit for the exam at 120 hours but require 150 hours before receiving your license. See our state-by-state CPA guide for your state's specific education requirements.

Exam Windows and Scheduling

As of 2024, the CPA exam is available year-round through Prometric testing centers. The old "testing window" system (four quarterly windows) has been eliminated. Key scheduling details:

• Testing centers: Prometric has 300+ locations across the US and international sites in select countries.
• Notice to Schedule (NTS): Valid for 6 months in most states (some allow 9 or 12 months). You must take the exam before your NTS expires or you forfeit the application fee.
• 18-month rolling window: Once you pass your first section, you have 30 months to pass the remaining three. If you exceed this window, your earliest passed section expires and you must retake it.
• Score release: Scores are released on a rolling basis, typically within 2–6 weeks of the exam date. AICPA publishes a score release schedule each year.

Passing Score and Pass Rates

The passing score for all CPA exam sections is 75 on a scale of 0–99 (this is a scaled score, not a percentage). Recent pass rates by section:

• AUD: ~46%
• FAR: ~43% (historically the lowest)
• REG: ~60%
• BAR/ISC/TCP: ~45–55% (newer sections, data still emerging)

The overall CPA exam pass rate across all sections is approximately 50%. Most candidates do not pass all sections on the first attempt — the average candidate takes 14–18 months and 5–6 total exam sittings to complete the process.

Study Timeline: A Realistic Plan

Most successful candidates dedicate 300–400 total study hours across all four sections. A common breakdown:

Section	Study Hours	Study Period
FAR	100–120 hours	8–10 weeks
AUD	70–90 hours	6–8 weeks
REG	80–100 hours	6–8 weeks
Discipline (BAR/TCP/ISC)	60–80 hours	5–7 weeks
Total	310–390 hours	12–18 months

Many candidates study 15–20 hours per week while working full-time. The most common strategy is to tackle FAR first (hardest section, get it out of the way), then AUD, then REG, then your discipline section. However, some prefer to start with their strongest area to build momentum.

Top CPA Review Courses

A quality review course is nearly essential — self-study without structured materials results in significantly lower pass rates. The major options:

• Becker CPA Review — Industry leader, used by most Big 4 firms. Comprehensive but expensive ($2,500–$3,400). Known for structured lesson plans and strong practice question banks.
• Roger CPA Review (now UWorld) — Popular for engaging video lectures. Mid-range pricing ($1,500–$2,500).
• Surgent CPA Review — Adaptive learning technology that customizes your study plan. Mid-range pricing ($1,500–$2,200).
• Gleim CPA Review — Largest question bank (10,000+ MCQs). Budget-friendly ($1,200–$1,900).
• Wiley CPAexcel — Bite-sized lessons, good for busy schedules. Mid-range ($1,500–$2,400).

Many public accounting firms reimburse review course costs and provide study time for new hires. If you are joining a Big 4 or mid-tier firm, ask about their CPA support program before purchasing a course yourself.

Total Cost Breakdown

Expense	Cost Range
Application fee (per section or initial)	$50–$200
Exam fees (all 4 sections)	$800–$1,200
CPA review course	$1,200–$3,400
Ethics exam (some states)	$150–$250
License application fee	$50–$200
Total (without retakes)	$2,250–$5,250

Add $200–$400 per retake if you do not pass a section on the first attempt. With the average candidate needing 1–2 retakes, realistic total cost is $2,500–$6,000.

CPA vs. CMA vs. EA: Which Credential Is Right for You?

Factor	CPA	CMA	EA
Full name	Certified Public Accountant	Certified Management Accountant	Enrolled Agent
Issuing body	State boards (AICPA exam)	IMA	IRS
Exam sections	4	2	3
Education required	150 credit hours	Bachelor's degree	None
Experience required	1–2 years (varies by state)	2 years in management accounting	None (or 5 years IRS experience)
Best for	Public accounting, audit, tax, advisory	Corporate finance, FP&A, cost accounting	Tax preparation and representation
Typical cost	$2,500–$6,000	$1,500–$3,000	$800–$2,000
Median salary premium	+15–25% over non-CPA accountants	+10–20% over non-CMA	+5–10% over non-EA tax preparers

The CPA is the most versatile and widely recognized of the three. If you can meet the 150-hour requirement, it is almost always the best investment. The EA is an excellent alternative if you want to focus exclusively on tax without the college credit requirement.

Getting Started

Your first step is confirming your state's specific education and experience requirements. Visit our CPA licensing guide and select your state — whether it is California, New York, Texas, or any other state. Each guide covers the exact credit hour requirements, application process, and licensing fees for your jurisdiction.

For broader career planning, see how the CPA stacks up in our highest-paying licensed professions ranking and our best ROI analysis.