CLEP Financial Accounting VS DSST Principles of Financial Accounting

[6ftwmn]

I studied very dilligently using InstantCert for the CLEP Financial Accounting. I took the test and scored a 48 but I needed a 50 to pass. I was very disappointed that a lot of the information did not seem to be what was covered in the flashcards on InstantCert.

I was about to leave the testing center and the proctor asked if I would like to try the DSST Principles of Financial accounting. Initially, I told her, "No" because InstantCert tells you that you need to use a textbook along with their flashcards in order to be well enough prepared. (It does not say this about the CLEP.) The proctor asked, "What do you have to lose?" To that I replied, "Nothing! I may as well try it." I sat down and finished the 76 questions in less than an hour. The time limit was two hours. I passed with a 56 and only need a 47 to pass it. Needless to say, I am ecstatic!

The questions on the DSST test more closely resembled the information that I studied for the CLEP on InstantCert. I highly recommend studying for a good two weeks before the exam. I studied at least 6 hours a day for the last 5 days before the test. I also recommend studying the CLEP flashcards, but take the DSST test.

Thank you and all the best to my fellow testtakers!

Sincerely,
6FTWMN

[FinancialWorld]

Just about the same thing happened to me. I took the CLEP version, failed with a 47!! I (re)studied the flashcards and other sources very hard for about a week and a half, and then passed the DSST version with a 65!!! It's easy to underestimate this exam. Some people have ranked it in difficulty to Money & Banking.

All in all, I hated studying for this, but once I understood the information everything fit together nicely.

@6ftwmn. Wow, after failing the CLEP version, I don't think I could have sat down and taken that second test right there. GREAT JOB!!

[clep study guides]

Congrats on passing the DSST version. I'm an accountant studying for the CPA exam, and I will tell you the breadth of material that you need to know is the most difficult aspect of the exam.

I've actually heard lawyers whom also happen to be CPAs say that the CPA exam is harder than the BAR exam, and I personally think the Financial Accounting and Reporting section of the exam is the most difficult part.

I just thought I would add some perspective to whole thing.