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An understanding of the economic concepts and analysis that impact the usage of business cycles on a company’s operations in industry and business.You should already have a good working knowledge of this from your time in university, but it won’t hurt to study harder in this area. Each of these topics relates to risk management or market influences on a company. Next, you’ll need to understand the topics relating to economic concepts and analysis. Just focus on those key areas and you’ll have a much easier time with these concepts.” Economic Concepts and Analysis “When studying for the corporate governance section of the BEC exam, make sure you understand the components, purpose, and objectives of each framework.

Just focus on those key areas and you’ll have a much easier time with these concepts. When studying for the corporate governance section of the BEC exam, make sure you understand the components, purpose, and objectives of each framework. Because of that, what you need to know here is much less broad than other parts of the test. This section focuses almost entirely on the different frameworks used in corporate governance.

Usage of provisions applying to regulatory frameworks and laws for corporate governance.

Knowledge of how enterprise risk management frameworks work and when to use them.

Knowledge of how internal control frameworks work and when to use them.

The specific areas that you need to focus on when studying are as follows: Doing so may cause you to miss out on important details as you work. Each one is fairly straightforward, but don’t get complacent in your preparations. Required BEC Exam SkillsĪrea 1 of the BEC exam asks you to understand and apply concepts to several topics involving corporate governance. In order to help you out, I’ve looked at the BEC exam blueprint and broken down the areas you need to focus on below. Make sure you study each of these areas so you’re prepared for what’s coming. There are several different ways to apply what you’ve learned and the BEC will test you on all of them.

Operations Management: 15-25% of the examĪs I stated previously, the test is heavily reliant on financial knowledge related to generalized business concepts.

Information Technology: 15-25% of the exam.

Financial Management: 11-21% of the exam.Economic Concepts and Analysis: 17-27% of the exam.Corporate Governance: 17-27% of the exam.Test Segment #5: 3 Written Communication Questions.Test Segment #2: 31 Multiple Choice Questions.Test Segment #1: 31 Multiple Choice Questions.Written Communication Questions: 3 questions, 15% of total score.Task Based Simulations (TSBs): 4 TSBs, 35% of total score.Multiple Choice Test: 62 Questions, 50% of total score.Doing so takes up the last 15% of your grade. Finally, you’ll be required to respond to 3 written communications questions about relevant exam topics. Next, you’ll have to complete 4 Task Based Simulations (TSBs) worth 35% of the exam’s grade.

To be more specific, there are 62 Multiple Choice Questions (MCQs) on the exam that make up 50% of your total grade. The BEC CPA exam is weighted differently from other parts of the test, since it also incorporates a section for written communications. That’s because the BEC’s core concepts revolve heavily around applying financial skills to generalized business concepts. You’ll need strong finance and economics skills in order to score well on this CPA exam section. Despite that, it’s important not to get complacent when preparing for it.įar too many people have failed what should have been the easiest part just because they slacked off and didn’t get any work done- don’t be one of those people! The Business Environment and Concepts (BEC) section of the CPA exam has traditionally been considered the easiest part of the test. What’s the bottom line? We’re on your team and are passionate about helping you achieve your career goals, even if it means we don’t make a dime. While this may influence which products we review and write about, and where they show up on the site, it absolutely does not influence our recommendations or guidance, which are formed by hundreds of hours of research and analysis. So how do we actually make money? It’s simple, our partners compensate us. And while our website doesn’t feature every test prep company or review course in the universe, we’re proud that the advice we offer and the information we provide is accurate, truthful, objective - and entirely free. We believe everybody should be able to make online purchases with confidence. By Bryce Welker, CPA Updated: AugAdvertiser Disclosure You’re our #1 priority.