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How Much Does The CPA Exam Cost?

By March 13, 2022CPA Exam News
how-much-does-the-cpa-cost

Acquiring a CPA certification is a big financial investment that will return significant financial benefits to you in the long run. As a response to your question, “How much does the CPA exam cost?” Let’s take a look at all of the expenses related to becoming a CPA.

Application Fees

The application fee is the first cost associated with the CPA exam. The price varies from $50 to $200, depending upon the state where you are taking the exam.

Despite the fact that it is a one-off fee, you may be required to pay it again if your application is rejected the first time or if your authorization to test notice (ATT) expires.

Registration Fees

Based on which state you live in, you may be asked to pay a registration fee when you sign up for a section. You can save money by enrolling in multiple sections at the same time because these fees are typically structured in a tiered manner. The way the tiered structure it works is as follows.

One section: $117
Two sections: $137
Three sections: $157
Four sections: $177

Enrolling in all four components together results in significant savings. However, there is a catch. Keep in mind that the validity of your NTS is limited to 6 months. In order to keep your NTS from expiring, you must take all four sections within six months after receiving your NTS.

If you don’t do so, you’ll have to pay the exam fees as well as the registration fees all over again in order to obtain a new NTS.

Be smart. Simply sign up for each section individually. This way you can save money in the long run.

Examination Fees

The exam costs are the next set of expenses you’ll have to deal with. These are the fees that must be paid in order to sit for the exam. Following receipt of your ATT, you will be able to select the sections you wish to take and pay the fees that are associated with them.

The cost of each section of the CPA exam varies from state to state, however the majority of the states charge $193.45 for each section.

After Passing the CPA Exam

 

Ethics Exam Fee

Thirty-five state boards of accountancy require you to pass an ethics exam in addition to the CPA Exam. Twenty-six of these state boards make use of the American Institute of Certified Public Accountants’ Professional Ethics course to meet this requirement, which costs $149 for AICPA members and $189 for nonmembers.

CPA Licensing Fees

After you have passed all four sections of the CPA exam and the AICPA ethics exam, you will be required to pay CPA licensing fees to your state board in order to become a licensed certified public accountant.

Some jurisdictions charge as little as $50 a year for the CPA license, while others charge upwards of $500 per year or even higher. You will be required to pay this charge each year when you renew your license for the rest of your life if you wish to maintain your license and continue to practice public accounting.

CPE Costs

You didn’t really believe you were finished, did you? Now, you’ll need to keep up with your continuing professional education (CPE) requirement after you pay the licensing fee to the state board. This, like all other requirements, varies from state to state.

At least 40 hours of ongoing education are mandated by most states each year. It might cost as little as $20 per hour or as much as $125 per hour, depending on the platform and provider you choose to obtain your CPE. On average, continuing education will cost at least $1,000 per year.

Additional Costs and Fees

 

Rescheduling Fees

Prometric may charge an extra cost for rescheduling your CPA Exam appointment if you are unable to take the CPA Exam on the date you originally scheduled. If you contact Prometric to reschedule your appointment at least 30 days in advance of your original exam date, there is no charge.

The charge for rescheduling is $35 with 6 to 29 days’ notice, and the fee for rescheduling with five or less days’ notice is $83.76. You do not have to pay back the application and exam fees if your new date is still within the validity period of your NTS document.

You will be recorded as a no-show if you miss your testing session without notifying Prometric 24 hours beforehand, or if you provide the incorrect ID or NTS. That means you’ll lose all of the money you’ve spent already on fees.

To avoid paying the application and examination expenses, reschedule before your NTS expires. Extreme circumstances may be granted an exception by state boards, so contact your board if you believe your case is exceptional enough to justify consideration.

Re-Application Fee

Most of the CPA Exam applicants fail at least one section of the exam on their first attempt. There is no option but to retake the CPA Exam section, which implies repaying of the registration and exam fees.

Consult with your state board to see if you qualify for a discount on reapplication fees before you pay the full registration charge once again.

Cost of a CPA Review Course

Make no mistake about it: this is one of the most worthwhile investments you will ever make! There are a variety of options available at various pricing points. You should not, however, presume that the most expensive course will also be the one that would provide you with the most benefits. Each course has its own set of qualities. Make yourself familiar with the characteristics of the various CPA review courses and then choose the one that best meets your requirements.

Before deciding on your review course, make sure you look at any demo’s the course offers, and especially take advantage of any FREE trial they have. Since most of the affiliate marketers are owned and operated by the same individual, don’t put too much stock in their “rankings”. Keep in mind, these affiliate marketers make their money directly from the review courses and how many people buy their course. Not really an unbiased rating system when you think about it!!

Yaeger CPA Review does not pay these affiliates huge sums of money so we are rarely ranked at all. You need to go to yaegercpareview.com directly, and decide for yourself what review is best for you. And, remember, the most expensive does not mean the best, it just means it’s the most expensive!! Don’t be fooled. At Yaeger CPA Review we welcome you to contact us directly to get honest answers.

Bottom Line

The entire amount of money you will need to spend in order to pass the exam is approximately $4,400. Of course, the amount you pay will vary depending on which CPA Review Course you choose to take. Additionally, because each state has its own set of rules and charges, the overall cost could be higher (or lower).

You should also keep in mind that you may not pass the exam on your first attempt. Additional registration and exam fees may be incurred as a result of this. The overall cost of passing the CPA exam, on the other hand, is a small fraction of the financial benefits that come with becoming a member of one of the world’s most prestigious accounting bodies.

 

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