Frequently Asked Questions

1. How soon should I apply for my Academic Credentials Evaluation?
2. What requirements must I meet to sit for the exam?
3. How do I register for the CPA exam and when is the deadline?
4. Can I take the CPA Review for credit?
5. Do the course fees include all course materials?
6. Must I take the NIU CPA Review in DeKalb?
7. Is the NIU CPA Review mostly Northern Illinois University graduates?
8. Is the NIU CPA Review competitively priced?
9. Does the NIU CPA Review have a high pass rate?
10. How does the NIU CPA Review differ from other review courses?
11. What coursework should I take to be prepared for the exam?
12. What does the exam look like?
13. How soon will I receive my scores? What are passing scores?
14. Is the computer-based test any more difficult than the pencil-based exam?
15. When should I take the CPA exam? When should I take the NIU CPA Review?
16. Which review and exam sections should I take first?
17. Can I take one exam section at a time? Can I take one CPA Review session at a time?
18. How many times can I sit for an exam?
19. Must I take the exam in the state of Illinois?
20. When should I begin taking the exam?
21. Am I allowed to repeat the NIU CPA Review for free if I do not pass?
22. Where can I find information about the ethics exam that candidates need to pass in order to be a CPA in Illinois?
23. Why does the AICPA site mention CPE credit in relation to the course?
24. When must Illinois candidates complete the "Professional Ethics: AICPA's Comprehensive Course"?
25. Is completion of the "Professional Ethics: AICPA's Comprehensive Course" enough to prepare for the ethics content tested on the AUD exam?

1. How soon should I apply for my Academic Credentials Evaluation?
   Apply for transcript evaluation early in the process, since it can take up to 12 weeks to receive your evaluation results. The transcript fee ($175 for students with only domestic credits or $250 for students with any international credits) is good for up to three years.
   
   Example:
   If Candidate A applies for an Academic Credentials Evaluation early in his senior year before he has met the requirements, the Illinois Board of Examiners will evaluate his credits up until that point and give him three years to finish meeting the needed requirements. Provided the requirements are met within that three year period, Candidate A only needs to pay the transcript evaluation fee one time. Upon the completion of the additional requirements, Candidate A will submit a second official transcript for review.
   
   Another reason to have your transcripts reviewed early:
   There is a proposed ruling in Illinois that is scheduled to become effective 07/01/2013 that will increase the requirements for undergraduate (non-masters) candidates to sit for the CPA examination. Hurry, meet the current requirements and be evaluated before 07/01/2013.
   
   
2. What requirements must I meet to sit for the exam?
   Click here for details of the 150-hour requirement in the state of Illinois.



3. How do I register for the CPA exam and when is the deadline?
   To register and receive an authorization to test (ATT) in the state of Illinois, consult the Illinois Board of Examiners at www.ilboa.org. There is no longer an application due date as candidates may sit for the exam during the first two months of every quarter (referred to as "testing windows").



4. Can I take the CPA Review for credit?
   Yes, Auditing and the Financial Accounting and Reporting can be taken for 3 credit hours each. The credit fees are about $1,340 for in-state and $2,300 for out-of-state. These fees are in addition to the NIU CPA Review course fees. For more information about the credit classes, click here.



5. Do the course fees include all course materials?
   Yes, they do. All written and online materials are included in the course fee.



6. Must I take the NIU CPA Review in DeKalb?
   DeKalb is only one location where the world class "Live" NIU CPA Review is offered. You may choose from one or more of the following four locations offering review courses:
   • Downtown Chicago (222 South Riverside, above Union Station)
   • DeKalb (NIU Campus, Barsema Hall
   • Hoffman Estates (the NIU campus just off Higgins Road behind the Sears Corporate Headquarters)
   • Naperville (the NIU facility on Diehl Road just west of Naperville Road)
   • "On the Go" Correspondence s are also available. Click here for more information
   
   
   
7. Is the NIU CPA Review mostly Northern Illinois University graduates?
   While most of the NIU graduates take one or more sections of the NIU CPA Review, our program is designed to be an Outreach program. Therefore, each year we serve candidates who have graduated from over 150 different institutions throughout the country.



8. Is the NIU CPA Review competitively priced?
   Yes. The NIU CPA Review is dollar-to-hour above the rest. We offer you more course hours of "Live" instruction than any of our competition. When comparing CPA Review courses, it is important to note the number of course hours devoted to each section. Dollar for dollar, our hourly fee is very competitive at approximately $14 per hour.
   • Audit and Attestation, we offer 48 hours of instruction.
   • Financial Accounting & Reporting has 54 hours of instruction.
   • Regulation has 42 hours of instruction.
   • Business Environment & Concepts has 27 hours of instruction.



9. Does the NIU CPA Review have a high pass rate?
   Yes. The NIU CPA Review and NIU graduates have the twelfth highest overall pass rate in the nation. If you are not an NIU graduate, do not despair. The pass rate for non-NIU graduates completing the NIU CPA Reviews are as much as four-to-five times the national passing rate for first-time takers. The NASBA Performance Manuals track the number of times universities finish in the top five passing rates in each of the four exam areas. Northern Illinois University is number one in the nation in Auditing.



10. How does the NIU CPA Review differ from other review courses?
    
    • We are "Live" and lively! Each and every one of our sessions is presented by a "Live" faculty member from a highly accredited institution. We won't play recordings for you. We will show you in person how to work exam questions and how to remember exam material. Our faculty not only knows how to teach but also understands the intricacies of today's computerized CPA exam. We make teaching and CPA Review our business.
    • We offer CORRESPONDENCE. For an additional fee, you can learn at home. Click here for details.
    • Our course materials are second to none. Candidates receive detailed materials that describe the concepts and questions asked in each area. Our materials are updated as new professional standards are issued and tested on the exam. Don't work with outdated materials.
    • Our flex-schedule program allows you to select the time, location, and exam sections that are most convenient for you.
    • When you email the expert, you will receive a reply from a CPA faculty member, not from a student worker or graduate assistant. It's our business and we stay on top of it!
    • We won't give up on you! If you are unsuccessful on any section, we will continue to provide you with technical updates, practice quizzes, and simulated exams until you pass. A section of our secure website is dedicated to assisting prior candidates. If you plan to attend a "Live" session again, you will receive a discount.
    
    
    
11. What coursework should I take to be prepared for the exam?
    The chart below provides information about suggested coursework. The typical candidate completes some, but not all of the listed courses. Since each candidate's coursework, professional experience, and university preparation varies, it is best to email your questions to Debra Hopkins, Director of CPA Review.



Exam Section	Suggested Coursework
Audit and Attestation	One to two semesters of financial statement auditing performed by external auditors Additional coursework covering statistical sampling, auditing with technology, International Standards on Auditing (ISA) and ethics is helpful.
Business Environment & Concepts	One to two semesters of economics at the micro and/or macro level One to two semesters of corporate finance at the junior or above level One semester of accounting information systems at the junior or above level One semester of managerial accounting at the junior or above level Additional coursework covering strategic project management and corporate governance is helpful.
Financial Accounting & Reporting	Two semesters of intermediate financial reporting taken at the junior or above level One semester of advanced financial accounting covering the areas of partnership accounting, and combinations and consolidations One semester of governmental/nonprofit accounting Additional coursework covering IFRS and accounting research is helpful.
Regulation	One to two semesters of business law at the junior or above level One semester of individual income taxation One semester of corporate and partnership taxation Additional coursework covering estates, trusts, and exempt organizations is helpful



12. What does the exam look like?
    To view a tutorial that allows you to preview the new exam, click on AICPA Tutorial & Sample Exam. Note the use of the database research and spreadsheet tools. Don't worry; the NIU CPA Review is ready to help you understand all aspects of the exam.



13. How soon will I receive my scores? What are passing scores?
    Scores are released approximately 3 weeks after you sit for the exam. Illinois scores are posted online at http://www.ilboa.org. All scores must be released within one month after each quarter. A score of 75 continues to be the passing score.



14. Is the computer-based test any more difficult than the pencil-based exam?
    The national pass rate per section is 45-50%. Over half of the people must repeat a section at least once. The CPA exam is becoming more broad-based and analytical. Do not rely on old materials or old information when you are preparing for the exam. Be smart. Let us help keep you focused, current, and disciplined. Don't make a career out of passing the exam. Do it right from the beginning.



15. When should I take the CPA exam? When should I take the NIU CPA Review?
    The old saying goes, "If you don't use it, you will lose it." Take the exam while the course information is fresh in your mind. Register for the review courses shortly before you have completed the 150-hour requirement. Let the NIU CPA Review assist you in completing your exam application. Then, review your material while your application to sit for the exam is being processed. Sit for the remaining sections shortly after the review courses end. Testing windows are as follows:
    

    January, February

    April, May

    July, August

    October, November




16. Which review and exam sections should I take first?
    We suggest that you complete your most difficult sections first for one important reason: You will want to complete the most difficult section before the 18-month clock begins. Click here for additional information on Which Section First.



17. Can I take one exam section at a time? Can I take one CPA Review session at a time?
    The answer to both questions is yes! This is the greatest advantage of the computer-based exam. Candidates may take the exam sections in any order during any testing window.



18. How many times can I sit for an exam?
    Candidates may sit for a section as many times as they choose. However, no candidate may sit for a section more than once in a testing window (the first two months of every quarter). Also, once a candidate passes a section, an 18-month rolling time frame begins. The other remaining sections must be successfully completed within 18 months from the date the candidate sat for their first successfully completed section. Click here for additional information on Which Section First.



19. Must I take the exam in the state of Illinois?
    You should sit for the exam in the state in which you plan to practice. For most of you, that will be the state of Illinois. Be careful here; if you receive authorization to test for the exam in another state and plan to transfer your credentials at a later date to Illinois, you must have met the Illinois requirements at the time you sit for the exam. For example, if you sit in a state that does not require 150 hours and pass the exam, can you transfer your CPA credential to Illinois? No! Why not? You did not meet the 150 hours in Illinois at the time you sat for the exam. The 150-hour requirement is just one of many requirements that must be met. When in doubt, contact the state board of accountancy where you plan to practice.



20. When should I begin taking the exam?
    Sit for the exam shortly after you earn the 150-hours.



21. Am I allowed to repeat the NIU CPA Review for free if I do not pass?
    The NIU CPA Review makes updated materials available electronically free of charge until you successfully complete the exam. We also offer the Review at a discounted price. Our focus is on passing, not failure. We allow you to record the audio of our "Live" sessions to create your own free repeat. Once you have enrolled as an NIU CPA Review candidate, you are always a candidate. We continue to offer you assistance free of charge. Our faculty email service, exam questions, and course scripts continue to be available to you until you pass.



22. Where can I find information about the ethics exam that candidates need to pass in order to be a CPA in Illinois?
    The ethics exam is a self study program published by the AICPA. The exact name of the course is, Professional Ethics: AICPAs Comprehensive Course. The course can be ordered from the AICPA Store at www.cpa2biz.com . The course costs about $130 plus applicable taxes and shipping/handling. When ordering you can choose to receive the course as either CD-ROM or textbook format (the price is the same for both). From time to time the ICPAS will offer discounts for this course. Their website is www.icpas.org .


23. Why does the AICPA site mention CPE credit in relation to the course?
    This course can also be taken to satisfy CPE requirements for a number of states. You are not required to complete CPE unless you are a licensed CPA in Illinois.



24. When must Illinois candidates complete the “Professional Ethics: AICPA’s Comprehensive Course?
    There is no deadline for completing the ethics exam. It is not included in the 18 month window for completion of the four exam sections. You cannot call yourself a CPA in Illinois until you have completed this ethics exam. It is suggested that candidates complete the self-study course prior to taking the Audit and Attestation (AUD) exam. Some of the topics taught in the ethics course will be covered in the AUD course and tested on the AUD exam.



25. Is completion of the “Professional Ethics: AICPA’s Comprehensive Course” enough to prepare for the ethics content tested on the AUD exam?
    No - The AUD exam now includes 16-20% on ethics and independence. In addition to the AICPA Code of Professional Conduct covered in the comprehensive course, the AUD exam also covers codes from the PCAOB, SEC, GAO, DOL, and IFAC.