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Everything you need to know for the CLEP Financial Accounting exam. Comprehensive review chapters completely align with all the subjects tested on the exam. The Best CLEP Financial Accounting Practice Exams Available
2 full-length CLEP Financial Accounting practice tests based on official CLEP exam questions released by the College Board. Total Explanations of Questions & Answers
Each CLEP Financial Accounting practice test comes with detailed feedback on every question. We don’t just say which answers are right – but why the others are wrong – so you’ll be prepared for the CLEP Financial Accounting exam. Proven Test-Prep Methods
REA’s focused content and practical advice have helped millions succeed on their exams. With our step-by-step plan, you can score high on the CLEP Financial Accounting exam and earn the college credit you deserve! Get the World’s Most Advanced CLEP Software
REA’s CLEP Financial Accounting TestWare combines a realistic test environment with the most powerful scoring analysis and diagnostic tools available. With every CLEP practice test you take, you’ll gain knowledge and confidence for the real exam. Automatic scoring and instant reports help you zero in on the topics and types of questions that give you trouble now, so you’ll succeed on the CLEP Financial Accounting exam! What is CLEP?
CLEP is the College Board’s credit-by-examination program for more than 30 subjects. Each exam passed earns the student between 3-12 credits at more than 2,900 colleges and universities in the U.S. and abroad. REA has the largest library of CLEP test preps that can help you earn college credit while saving you valuable time and money.
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Passing the CLEP Financial Accounting Exam
ABOUT THIS BOOK AND TESTware®
This book provides you with complete preparation for the CLEP Financial Accounting exam. Inside you will find a targeted review of the subject matter, as well as tips and strategies for test taking. We also give you two full-length practice tests, featuring content and formatting based on the official CLEP Financial Accounting exam. Our practice tests contain every type of question that you can expect to encounter on the actual exam. Following each practice test you will find an answer key with detailed explanations designed to help you more completely understand the test material.
The practice exams in this book and software package are included in two formats: in printed format in this book, and in TESTware® format on the enclosed CD for Windows-based computers. We strongly recommend that you begin your preparation with the TESTware® practice exams. The software provides the added benefits of instant scoring and enforced time conditions.
ABOUT THE EXAM
Who takes CLEP exams and what are they used for?
CLEP (College-Level Examination Program) examinations are typically taken by people who have acquired knowledge outside the classroom and wish to bypass certain college courses and earn college credit. The CLEP is designed to reward students for learning—no matter where or how that knowledge was acquired. The CLEP is the most widely accepted credit by-examination program in the country, with more than 2,900 colleges and universities granting credit for satisfactory scores on CLEP exams.
Although most CLEP examinees are adults returning to college, many graduating high school seniors, enrolled college students, military personnel, and international students also take the exams to earn college credit or to demonstrate their ability to perform at the college level. There are no prerequisites, such as age or educational status, for taking CLEP examinations. However, because policies on granting credits vary among colleges, you should contact the particular institution from which you wish to receive CLEP credit.
There are two categories of CLEP examinations:
1. CLEP General Examinations are five separate tests that cover material usually taken as requirements during the first two years of college. CLEP General Examinations are available for English Composition (with or without essay), Humanities, Mathematics, Natural Sciences, and Social Sciences and History.
2. CLEP Subject Examinations include material usually covered in an undergraduate course with a similar title. For a complete list of the subject examinations offered, visit the College Board website.
Who administers the exam?
The CLEP exams are developed by the College Board, administered by Educational Testing Service (ETS), and involve the assistance of educators throughout the United States. The test development process is designed and implemented to ensure that the content and difficulty level of the test are appropriate.
When and where is the exam given?
The CLEP Financial Accounting exam is administered each month throughout the year at more than 1,300 test centers in the United States and can be arranged for candidates abroad on request. To find the test center nearest you and to register for the exam, you should obtain a copy of the free booklets CLEP Colleges and CLEP Information for Candidates and Registration Form. They are available at most colleges where CLEP credit is granted, or by contacting:
CLEP Services
P.O. Box 6600
Princeton, NJ 08541-6600
Phone: (800) 257-9558 (8 a.m. to 6 p.m. ET)
Fax: (609) 771-7088
Website: www.collegeboard.com/clep
CLEP Options for Military Personnel and Veterans
CLEP exams are available free of charge to eligible military personnel and eligible civilian employees. All the CLEP exams are available at test centers on college campuses and military bases. In addition, the College Board has developed a paper-based version of 14 high-volume/high-pass-rate CLEP tests for DANTES Test Centers. Contact the Educational Services Officer or Navy College Education Specialist for more information. Visit the College Board website for details about CLEP opportunities for military personnel. Eligible U.S. veterans can claim reimbursement for CLEP exams and administration fees pursuant to provisions of the Veterans Benefits Improvement Act of 2004. For details on eligibility and submitting a claim for reimbursement, visit the U.S. Department of Veterans Affairs website at www.gibill.va.gov/pamphlets/testing.htm.
SSD Accommodations for Students with Disabilities
Many students qualify for extra time to take the CLEP Financial Accounting exam, but you must make these arrangements in advance. For information, contact:
College Board Services for Students with Disabilities
P.O. Box 6226
Princeton, NJ 08541-6226
Phone: (609) 771-7137 (Monday through Friday, 8 a.m. to 6 p.m. ET)
TTY: (609) 882-4118
Fax: (609) 771-7944
E-mail: ssd@info.collegeboard.org
Our TESTware® can be adapted to accommodate your time extension. This allows you to practice under the same extended-time accommodations that you will receive on the actual test day. To customize your TESTware® to suit the most common extensions, visit our website at www.rea.com/ssd.
HOW TO USE THIS BOOK
What do I study first?
Read over the course review and the suggestions for test-taking, take the first practice test to determine your area(s) of weakness, and then go back and focus your study on those specific problems. Studying the reviews thoroughly will reinforce the basic skills you will need to do well on the exam. Make sure to take the practice tests to become familiar with the format and procedures involved with taking the actual exam.
To best utilize your study time, follow our Independent Study Schedule, which you’ll find in the front of this book. The schedule is based on a six-week program, but can be condensed if necessary by collapsing each two-week period into one.
When should I start studying?
It is never too early to start studying for the CLEP Financial Accounting exam. The earlier you begin, the more time you will have to sharpen your skills. Do not procrastinate! The sooner you learn the format of the exam, the more time you will have to familiarize yourself with it.
FORMAT AND CONTENT OF THE EXAM
The CLEP Financial Accounting exam covers the material one would find in a college-level Financial Accounting class. The exam assesses the student’s knowledge and mastery of the skills and concepts found in an entry-level financial accounting course, including familiarity with accounting concepts and terminology, understanding and analyzing accounting data, and applying accounting techniques to problem-solving situations. The exam consists of 75 multiple-choice questions, each with five possible answer choices, to be answered in 90 minutes.
The approximate breakdown of topics is as follows:
20–30% General Topics
20–30% The Income Statement
30–40% The Balance Sheet
5–10% Statement of Cash Flows
< 5% Miscellaneous
ABOUT OUR COURSE REVIEW
The review in this book provides you with a complete background of all the important accounting principles and theories relevant to the exam. It will help reinforce the facts you have already learned while better shaping your understanding of the discipline as a whole. By using the review in conjunction with the practice tests, you should be well prepared to take the CLEP Financial Accounting exam.
SPECIAL TOOLS IN THIS BOOK
In addition to the thorough review provided, our book is filled with exerc...
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7 of 7 people found the following review helpful:
5.0 out of 5 stars
THE BEST!,
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This review is from: The Best Test P CLEP Financial Accounting w/ CD-ROM (CLEP Test Preparation) (Paperback)
I don't know how I would have made it through without this book. It makes the CLEP feel like a breeze!
3 of 3 people found the following review helpful:
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This book saved me a ton of $$$$$$$,
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This review is from: The Best Test P CLEP Financial Accounting w/ CD-ROM (CLEP Test Preparation) (Paperback)
This book saved me about $4500 in tuition, not to mention the cost of textbooks. I needed to score a 57 to get credit for two accounting classes (9 hours worth of credit). After a couple of weeks of studying over winter break I nailed a 61! It has put me extremely close to graduation and saved me time as well. Great product and well worth the price. Just as a point of reference, I took accounting in college once many, many years ago and failed. Miserably. This book made it much easier for me.
3 of 3 people found the following review helpful:
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It worked for me!!,
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This review is from: The Best Test P CLEP Financial Accounting w/ CD-ROM (CLEP Test Preparation) (Paperback)
I highly recommend this study guide. I studied for the financial accounting CLEP over the winter break using the REA prep book. I spent about 2-3 weeks reading a little every night, doing the practice questions, and reviewing concepts or whole chapters as necessary based on my practice results. I got a 61 and a 62 on the sample tests included with the book, and a 63 on the real test. I am planning to use REA to help me CLEP out of three more classes.
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