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Last Update : December 20, 2024
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Earning the prestigious Audit & Insurance certification from CPA significantly boosts your marketability and opens doors to exciting opportunities. Achieving this recognized credential expands your career options and increases your earning potential. ExamPrince practice tests provide the most efficient way to prepare for and pass your Audit & Insurance exam on the first try.
To earn the Audit & Insurance certification, you'll need to pass the relevant exam offered by CPA.
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The CPA AA Exam focuses on assessing the knowledge and skills of candidates in the areas of audit and insurance. It is a specialized exam within the CPA certification process, aimed at ensuring that professionals have a thorough understanding of auditing standards, procedures, and insurance principles.
The CPA AA (Audit & Insurance) Exam is a professional certification exam designed for individuals seeking to demonstrate their expertise in auditing and insurance within the accounting profession. This exam is part of the CPA (Certified Public Accountant) credential, which is highly respected in the accounting industry.
The number of questions asked in the CPA AA Exam can vary, but it typically includes multiple-choice questions, task-based simulations, and written communication tasks. The exact number of questions may change with each exam update.
The passing score for the CPA AA Exam is generally 75 on a scale of 0-99. This score is determined by the American Institute of Certified Public Accountants (AICPA) and is consistent across all CPA exams.
The competency level required for the CPA AA Exam includes a deep understanding of auditing and insurance principles, the ability to apply auditing standards, and proficiency in analyzing and interpreting financial statements and insurance policies.
The question format of the CPA AA Exam includes multiple-choice questions, task-based simulations, and written communication tasks. This mix is designed to evaluate a candidate's knowledge, application, and communication skills in auditing and insurance.
You can take the CPA AA Exam at authorized Prometric testing centers. The exam is offered throughout the year, and candidates can schedule their exams at their convenience within the available testing windows.
The CPA AA Exam is offered in English. It is important for candidates to have a strong command of the English language to comprehend and respond to the exam questions effectively.
The cost of the CPA AA Exam varies by jurisdiction, but it generally ranges from $200 to $300 per section. Additional fees may apply for application and registration, depending on the state board of accountancy.
The target audience of the CPA AA Exam includes accounting professionals, auditors, and individuals seeking to specialize in audit and insurance within the accounting field. It is ideal for those pursuing a CPA designation.
The average salary of a CPA AA certified professional in the market can vary based on experience, location, and industry. However, CPAs with a specialization in audit and insurance can expect to earn between $70,000 and $120,000 annually.
The testing providers of the CPA AA Exam are authorized Prometric testing centers. Prometric administers the exam on behalf of the AICPA and state boards of accountancy.
The recommended experience for the CPA AA Exam includes a background in accounting, auditing, and insurance. Candidates typically have a bachelor's degree in accounting or a related field and relevant work experience in auditing or insurance.
The prerequisites of the CPA AA Exam include meeting the educational and experience requirements set by the state board of accountancy. This usually involves a bachelor's degree in accounting and a certain number of credit hours in accounting and business courses.
The expected retirement date of the CPA AA Exam is not fixed, as the exam is periodically updated to reflect changes in auditing standards and practices. Candidates should check with the AICPA for the latest information on exam updates.
The roadmap/track of the CPA AA Exam involves completing the required education, gaining relevant work experience, passing the CPA exams, and meeting any additional state-specific requirements for licensure.
The topics covered by the CPA AA Exam include auditing standards, audit planning and execution, internal controls, risk assessment, insurance principles, and the analysis and interpretation of financial statements.
Sample questions for the CPA AA Exam can be found on the AICPA website and in various CPA review courses. These samples help candidates familiarize themselves with the format and types of questions they will encounter on the exam.
The difficulty level of the CPA AA Exam is considered to be high, as it requires a comprehensive understanding of auditing and insurance concepts, as well as the ability to apply this knowledge in practical scenarios.
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