Wiley Efficient Learning Review: Is It Still a Viable Option for CPA Exam Prep?

Preparing for the CPA exam is a challenging endeavor, demanding a serious commitment and a comprehensive understanding of accounting concepts. Wiley Efficient Learning has been a prominent player in the CPA review course market for many years. However, recent developments, specifically the acquisition of Wiley CPA by UWorld, necessitate a reassessment of its current standing.

Wiley Efficient Learning: A Historical Perspective

Wiley Efficient Learning boasts a long history, tracing its roots back to 1807 as an academic publishing company. Over the years, it has adapted to the evolving landscape of the accounting industry and the CPA exam itself. The AICPA (American Institute of Certified Public Accountants) regularly updates the CPA exam to reflect new industry developments, and Wiley Efficient Learning strives to keep its courses aligned with these changes, ensuring students have access to the most relevant materials. Their most recent update included changes to all four exam sections, ranging from minor terminology updates in FAR (Financial Accounting and Reporting) to the addition of content related to the CARES Act in REG (Regulation). More substantial changes included new videos and study text in AUD (Auditing and Attestation) and an increased emphasis on Microsoft Excel proficiency in BEC (Business Environment and Concepts).

Core Features of Wiley CPA Review

Like most CPA review courses, Wiley provides a comprehensive suite of study materials, including:

Multiple-Choice Practice Questions: A vast library of questions designed to test comprehension of key concepts. Wiley CPA’s substantial 12,000 multiple-choice questions are gleaned from previous exams.
Task-Based Simulations (TBS): Simulations that mimic real-world accounting scenarios, allowing students to apply their knowledge in a practical context. Wiley’s Platinum course boasts 600 task-based simulations. However, the actual number may be different, as the review course has the same questions scattered around the program.
Flashcards: Digital and physical flashcards to aid in memorizing key terms and definitions. Helpful digital flashcards are included that show key topics and the most important definitions. There are 4,200 in total, and they’re accessible on both desktop and mobile devices.
Video Lectures: Video lectures and textbooks teach you the different concepts covered on each part of the CPA exam. Wiley includes over 2,200 pages of online text passages and more than 140 hours of video lectures. Many of these are broken down into short videos, following Wiley CPA Review's trend of micro-delivery.
Mobile App: Wiley offers a dedicated app for both Android and Apple devices, providing access to all course materials on smartphones and tablets. Whether you have an Android or Apple device, Wiley has an excellent dedicated app for your phone or tablet that allows you to access the same library of content that you can on a desktop or laptop computer.
Personalized Learning: Both downloadable and online features of this program allow it to analyze your proficiency with specific CPA exam concepts as you progress through the material, which is then used to change your schedule on the fly to meet your specific needs as a student.
Live Classroom Sessions: During the numerous live classroom sessions hosted by Wiley, you’ll have the ability to communicate with the lecturer in real-time- just like a traditional classroom setting.
Simulated CPA Exam: Complete all the coursework, and you’ll be treated to a Simulated CPA Exam, modeled after the real deal. The entire simulation is divided into 3 multiple-choice parts, and the prerequisite task-based simulation, which is timed the same way as the real CPA exams are. This online course guides you on which particular mistakes were made, and it also gives a helpful response on how the right answer is calculated.

Course Options and Pricing

Wiley Efficient Learning offers several CPA review course packages, each with varying features and price points. These include different features. Each course is updated yearly to reflect the latest and best information for exam preparation.

Pro CPA Review Course: This contains everything you need for a full study schedule, including the 5,000-plus practice questions, 2,200-plus pages of online study text, digital/physical flashcards, and unlimited practice CPA exams. The base price is $2,199.
Platinum CPA Review Course: Wiley’s Platinum CPA Review Course is their most popular online CPA prep course that costs $2,999. However, it has been on sale for $1,799 for a while, so you may be able to catch it on sale.

It's important to note that Wiley regularly offers steep discounts to make its courses more accessible.

Read also: Comprehensive Purdue History

Wiley CPAexcel: A Closer Look

Wiley CPAexcel is known for delivering content in “bite-sized lessons” - 30-minute micro-learning opportunities. And, it’s one of the most popular CPA test prep choices.

Pros of Wiley CPAexcel:

14-Day Free Trial: If you want to investigate the Wiley CPA exam prep, you can sign up for a free trial. The Wiley CPA free trial gives you access to learn about the company or review the course. The trial includes access to study materials, preview of the mobile platform, and simulations of tasks.
Bite-Sized Learning Approach: Wiley CPAexcel has created a program that gives you efficient opportunities to learn. This platform helps you achieve your career goals with quick, powerful lessons. Bite-sized learning is research-backed and can be highly effective for retaining knowledge. This delivery is optimal for busy students or professionals who can dedicate a limited amount of time to studying.
Unlimited Access (Until You Pass): Wiley CPAexcel promises unlimited access until you pass the test. As their coursework is updated with the AICPA Blueprint, you will always have the most up-to-date information. This also gives you flexibility and relieves you of any worry. The timeline is self-driven and the intuitive program will alert you when your skills reflect exam readiness. The written course materials and videos, quizzes and CPA simulation exams are unlimited and have no expiration date.
Student Discounts: Yes, Wiley CPAexcel offers student discounts! These discounts are applied to its full-service platform. The platform will prepare you for passing the exam.
High Pass Rate: Notably, Wiley CPAexcel reports a 90 percent pass rate for the CPA exam. The national average is under 50 percent.
Short Lectures: There are over 140 hours of video lectures. Many of these are broken down into short videos, following Wiley CPA Review's trend of micro-delivery.
Best Analytical Tools: Wiley CPAexcel is always refining its offering through improved tools. One of the features it is best known for is its analytical tools.
Financing Options Available: If the price is a barrier, you can obtain financing through Wiley’s Paypal credit partnership.

Cons of Wiley CPAexcel:

Primarily for PC-Based Users: Wiley CPAexcel has many additional resources for its users. However, most of its resources are optimized for PC-based users.
Lack of Important Coverage: A significant drawback of Wiley CPA is its coverage of some crucial subject areas. Users have pointed out that the platform occasionally overlooks or under-emphasizes important topics, leaving students potentially underprepared for specific segments of the CPA exam.
Students have to Supplement: Wiley CPA’s content sometimes falls short in its depth and clarity, leading students to seek supplements like notes from peers and additional audio resources.
Summarized Video Lectures: While some of the video lectures might feel summarized, they do provide focused insights into key topics.

The UWorld Acquisition: A Game Changer

The most significant factor influencing the current recommendation of Wiley Efficient Learning is its recent acquisition by UWorld. This acquisition introduces uncertainty regarding the future of the Wiley CPA course.

UWorld's CFA Prep: A Glimpse into the Future?

It's important to note that UWorld acquired Wiley’s CFA prep business in 2023. Overall, I really liked UWorld’s CFA prep course - they took the Wiley program, made it modern, and just a lot better. What stood out for me was the depth and detail of its question explanations and how it adapts in real time.

Here's how UWorld has refined the Wiley CFA program:

Modernized Presentation: While they still follow a digital whiteboard style from the Wiley era, UWorld has modernized the presentation with cleaner visuals and well-placed formula callouts.
Aligned Text Lessons: The accompanying text lessons mirror the videos and reinforce key concepts without unnecessary fluff.
Enhanced QBank: UWorld’s QBank is one of the standouts in CFA prep.
Accelerate Boot Camp: UWorld’s Accelerate Boot Camp, is a solid way to wrap up your prep right before the exam. It’s this intense two-day virtual session that’s designed to feel like the real deal while hammering home all the key concepts you need to know.
Mock Exams: UWorld’s Advanced package offers two full-length mock exams and Elite offers three (Core doesn’t offer a mock). These mocks are designed to simulate not just the content but also the mental and physical demands of the actual CFA exam.
Supplemental Resource Materials: In addition to your core study materials, UWorld includes some nice supplemental resource materials to help you prepare.
Performance Analytics: UWorld provides some powerful analytics that give you some helpful insights into your performance.
Unlimited Access (Elite Package): While there is no money back guarantee, UWorld’s Elite package grants you unlimited access to their materials until you pass.

Concerns and Considerations

Lack of Guarantee: Despite claiming that 9 out of 10 students who use their course will pass the CPA exam, they don’t offer any kind of refund if you fail on your first try.
Content Depth: Users often find that Wiley’s core content lacks depth and clarity, compelling them to seek additional resources.
Pass Rate Transparency: Not all review providers publish their pass rate, but I wish Wiley would explain how their pass rate is calculated.

Alternatives to Wiley CPA Review

Given the uncertainty surrounding Wiley CPA's future and the availability of other reputable CPA review courses, it's prudent to consider alternatives. The winner is Becker. Although Wiley has a more inexpensive course with more practice questions, Becker has higher quality live classes and video lectures.

Read also: Algorithm Efficiency Course

Read also: Graph Condensation in Puma

tags: #Wiley #Efficient #Learning #review