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Reviewed and Updated January 15, 2012

Lambers has been providing test preparation courses for more than 40 years. It provides review courses for various accounting and finance exams, including the CPA exam. The Lambers CPA review course is entirely self-study, meaning there is no live or online class that follows a set schedule. You study at your own pace using the Lambers materials.

Unlike many of the other review courses, Lambers offers its materials on an individual basis. Depending on your perspective, this may be a good or bad thing. Lambers sells audio lectures, video lectures, flashcards, iPod courses, test prep software and textbooks. You select which materials you would like and purchase each of them. There is no overall bundle or package of materials you can purchase.

Audio Lectures – The audio lectures are delivered on CD and include electronic versions of the textbooks. You can either listen to the lectures directly from the CD or download them to your mp3 player. The CD’s cost $200 per part or $800 for all 4 parts.

Video Lectures – The video lectures are delivered on DVD’s that can only be watched on your computer. The DVD’s also include electronic versions of the textbooks and electronic versions of the instructor notes. The videos cost $300 per part or $1,200 for all 4 parts.

Flaschcards – The flashcards are delivered electronically. You can either study the flashcards on your computer or you can print them out to review them the way you would normally use flashcards. The flashcards cost $125 per part or $500 for all 4 parts.

iPod Courses – The iPod courses are the same as the DVD video lectures except you can load them onto your iPod or mp4 video player. They come with the electronic textbooks and electronic instructor notes. The iPod courses cost the same as the DVD videos – $300 per part or $1,200 for all 4 parts.

Test Prep Software - The test prep software is delivered on CD and includes multiple choice questions, simulations, and electronic versions of the textbooks. The software tracks your progress and focuses your study time on your weak areas. The software costs $150 per part or $600 for all 4 parts.

Textbooks – The textbooks you can purchase separately are the printed textbooks. Actually, you get a 3-ring binder with the printed text inside, so it is technically not a book. With each of the other options above, you get electronic versions of the textbooks. The only reasons to buy the textbooks are if you really want a physical copy or if you are not buying any of the other Lambers materials. The textbooks cost $50 per part or $200 for all 4 parts.

To get comparable materials to the other review courses, you would have to buy the DVD’s or iPod courses and the software. All of the other major review courses also include textbooks, so if you wanted to be truly comparable, you would also have to buy the physical textbooks, but for the pricing below, I will assume you are okay with just using the electric text included with the videos.

Price of videos and software – $450 per part / $1,800 for all 4 parts

The Good

1. Flexibility – Lambers offers you the ability to buy materials individually so you are not stuck paying for materials you may not want or use.

2. Per Part Price – If you are buying only one or two parts, Lambers is your second cheapest option for a guided self-study course behind Kaplan.

3. iPod Courses – The ability to install your videos on your iPod or other mp4 player allows you to study in places were you may not be able to bring your laptop.

4. Lecture Hours – In total, the videos include 132 hours of lectures, which is second only to Yaeger for the most lecture time included in a course.

The Bad

1. Limited Number of Questions – The test prep software includes only 3,850 multiple choice questions (“MCQs”) and simulations combined. The other major review courses have well over 4,000 combined MCQs and simulations.

2. 4 Part Price – The price of buying review materials for all 4 parts will cost you $1,800 if you are trying to get materials comparable to the other major review courses. This is higher than all but Bisk and Becker.

3. No Books – You have to buy the textbooks separately or print them yourself if you want a physical copy. Many people, including me, appreciate the ability to get away from the computer to study and work questions. With Lambers, this costs extra.

4. No Published Pass Rate – Most of the other courses either publish a pass rate or address why they do not. Lambers does neither, which does not inspire a lot of confidence in the effectiveness of their courses.

5. No Ability to Contact Instructors – Yaeger is obviously the cream of the crop since students can call them up and talk live on the phone with the instructors, but the other review courses at least offer email or internet forums as a way to get help from instructors. Lambers does not offer any of these, so you are left on your own if you are having trouble with a particular topic.

The Bottom Line

Lambers has a few positive aspects, but has more significant downsides. If the ability to load your video lectures onto your iPod appeals to you or if you are price conscious and only buying materials to study for one or two parts, Lambers may be the course for you. If not, you are better suited with one of the other review courses. In general, I recommend Yaeger as the best course.

Reviewed and Updated April 10, 2012

Roger Philipp is generally known as the most energetic and entertaining CPA exam review course instructor. Those that need Roger’s high energy to keep them interested in the material swear by his videos. Roger CPA review uses lots of memorization and mnemonics if you like that sort of thing.

The class is offered in 3 formats.

1. Live. There are limited locations for attending the live classes. Most are in California.

Price – $595-$695 per part / $2,095 for all 4 parts

2. Online. Online access to video lectures, textbooks written by Roger Phillipp, Wiley homework books, Wiley exam review software, and access to the Roger CPA staff and teacher’s assistants. Each video can be watched 3 times. If you want to watch the videos a 4th time, you have to contact customer support and have them reset the counter so that you get another 3 viewings.

Price – $595-$695 per part / $1,695 for all 4 parts

3. USB. The USB includes all of the items from the online review, except it is delivered on a USB drive instead of online. The USB software can be installed on up to two computers. With the USB, you get 12 months of access to the review materials.

Price – $595-$695 per part / $2,095 for all 4 parts

The Good

1. Energy and Enthusiasm – Roger is widely regarded as the most energetic and enthusiastic of all the CPA exam review course instructors. Many students enjoy his energy and insist it helps keep their interest.

2. Efficiency - Roger does not cover the material as in depth as other courses. He focuses on subjects he thinks will be heavily tested on the exam based on his experience. Some students prefer this approach, especially if they have limited time.

3. Audit – His audit course is generally considered the best of all the review courses.

4. Online Access – If you sign up for the online version (not available with the USB option), you can watch the videos anytime you have an internet connection, even on your iPhone, iPad or other mobile device.

5. High Pass Rate – Roger students have an 86% pass rate. This is high, but not as high as Yaeger’s 88%.

6.  Price – If you buy the online version, you can get all 4 parts for $1,695, which is the second lowest of all the top rated review courses.

The Bad

1. Sequence of Review – Lectures do not follow the Wiley books, so students often feel they are moving randomly from subject to subject.

2. Access - If you are doing the self study, you cannot get live access to the Roger. You have to post your message on a message board and wait for a response. You can call or live chat with Roger’s staff or teacher’s assistants.

3. Extra Fees – If you take the live classes, you have to pay $10 to make up a session. You do not get access to the videos. There is a $50 admin fee you have to pay when you sign up. There is also a $50 per part re-enrollment fee if you elect to use your “unconditional repeat” option.

4. Limited Use – Your online access expires after 9 months. You can elect to use your “unconditional repeat” option anytime after the first 5 months and that will get you an additional 9 months of access (18 months total). As noted above, this does come with an additional $50 per part re-enrollment fee. Your USB access expires after 12 months. At the time you make your original USB course purchase, you can purchase an additional 6 months for $200. If you elect to extend your USB access at some point after your original purchase, it will cost you $300.

5. Textbooks – Some students feel his review textbooks read like essays. The material is not presented in an easy-to-understand format and as noted in #1 above, is out of sequence with the Wiley homework books.

6. Technology Hassles – You can watch each online lecture 3 times and each USB lecture 5 times before that lecture becomes locked. You have to call Roger to get them reset if you want to watch a lecture more than 3 or 5 times, depending on the course you chose. If you buy the USB course and you want to install it on more than 1 computer, you have to call Roger to get them to tell you how to install it on a second computer.

The Bottom Line

Roger is a good course that is the right choice for you if you like his entertaining style, his emphasis on mnemonics, and his choice to skip over certain material in order to gain efficiency. Roger is also the second lowest priced of the top review courses if you are buying all 4 parts at once. If you are looking for a more in depth review and want to learn the material rather than focusing on memorization, Yaeger is a better choice that has a slightly higher pass rate.

Reviewed and Updated January 15, 2012

Bisk is the second largest CPA exam review course provider behind Becker. It is also the second most expensive. Bisk CPA review chooses not to report a pass rate for its students due to the inherent difficulties in getting an accurate number.

Bisk offers two main self-study options – online and classic. It also offers limited live classes in certain cities. In addition, Bisk sells a dizzying array of additional products for preparing for the exam.

1. Online Review – The online review is handled like a live class, but is delivered online. This means you need to sign up during the enrollment periods and study according to the schedule set forth by the instructors. The online review includes online access to streaming video lectures, study guides, textbooks, multiple choice questions, and support forums. It is all online – you will not receive any physical products (e.g. no CD’s or books).

2. Classic Review – The classic review can be done at your own pace. There is not a set schedule or class to follow. This option includes several CD’s that will be mailed to you. The CD’s are for your computer and include electronic versions of the textbooks, multiple choice questions, video lectures and weekly assignment notebooks.

Price – $525 per part / $1,980 for all 4 parts (Online and Classic review have the same price)

3. Optional Products:

Software – You can buy the multiple choice question and simulation software separately if you do not want to purchase the entire review course. The software also includes electronic versions of the textbooks. This costs $640 for all 4 parts or $160 per part.

Texbooks – You can buy textbooks for $199.80 for all 4 or $49.95 each if you want a physical book. Only the electronic versions are included in the Online and Classic reviews.

Audio – Bisk offers audio only CD’s for $519.80 for all 4 parts or $129.95 each. These audios allow you to listen to lectures in the car or put them on your MP3 player. They include 40 hours of lectures in the complete set of all 4 parts.

Video – Bisk offers DVD videos for a huge range of specific topics, but not for the core review course lectures. These are called “Hot Spots” and are meant to be in depth reviews of specific topics (e.g. pension accounting). If you are having trouble in a specific area, you can buy the Hot Spot for that topic to get more instruction. These videos range in price from $99 to $799.

The Good

1. Bob Monette – Bob Monette is the lead instructor for Bisk and he gets rave reviews. Most students enjoy his lectures and are able to understand and retain the information he goes over. He does not do all the lectures, though, so many students report that the lectures the other instructors handle are very painful and difficult to get through.

2. Custom Exams – The Bisk software has a wide variety of custom exam options that allow you to focus on your weak areas. This can be done manually or you can use the software’s recommendation for a customized exam based on your past results.

3. Practice Exams – Many students have found that the practice exams are a good indicator of what they are likely to score on the actual CPA exam.

4. Discounts – Many students have reported success at calling Bisk and asking for discounts rather than paying the price on the web site.

5. Hot Spots – Even though these cost extra and are not part of the review courses, the Hot Spot videos are widely regarded as very helpful study tools. If you are having particular difficulty in an area covered by one of the Hot Spots, it may be worth considering purchasing that video.

The Bad

1. Multiple Choice Explanations – Many people complain the explanations to questions are thin so it is difficult to understand why an answer is correct or incorrect. Multiple choice questions are the core part of the CPA exam, so relying on thin explanations for why an answer is right or wrong puts you at a significant disadvantage when taking the exam.

2. REG – REG is generally considered to be poorly covered by Bisk. Many REG topics are tested heavily on the exam, but are glossed over by the Bisk materials and lectures.

3. Textbooks – Many students feel the textbooks make concepts difficult to understand. The Wiley books generally do a better job of explaining the concepts so they are easily understood and remembered. In addition, only the electronic versions of the textbooks are included. If you want printed copies, you will need to buy them separately.

4. Lack of Options – There is no USB option and the lectures are not available on DVD. You either have to watch the lectures while you are connected to the internet or on the CD’s provided for your computer. You will not have the option of watching lectures on your DVD player.

5. Software – Some students complain the testing software is slow and that you cannot split the screen when studying simulations, so you have to switch from screen to screen. Some students also reported problems using the software on Microsoft Vista.

6. Lecturers – Aside from Bob Monette mentioned above, many students say the other lecturers talk too fast and rush through a lot of the material. This makes some of the topics difficult to understand.

7. Slow to Change – In the past, Bisk seems to have changed its material more slowly than other review courses in response to changes in the exam.

8. No Mobile Access – You cannot access the Bisk materials from your iPhone, iPad or other mobile device.

The Bottom Line

Bisk has some good features, but also has some significant drawbacks. In my opinion, it is too expensive given that the negative items can have such a big impact on your preparation for the exam. Yaeger is generally a better choice, especially if you want to get an in-depth understanding of the material and are looking to get the most for your money (see my Yeager review here).

The Bisk Hot Spots are very good supplements you should look into if you are having difficulty with a particular topic.

Reviewed & Updated January 15, 2012

Becker is perhaps the most well-known CPA exam review course. Becker CPA review has representatives on most college campuses, and if you are a member of Beta Alpha Psi, you have likely heard from them or seen their presentations.

Becker offers review courses in 3 formats. All of the courses come with the same review materials – the Becker textbooks, Passmaster software for practice questions and simulation and exam software to replicate taking the CPA exam. Flashcards cost extra. The difference in the 3 formats is the manner in which the instructor lectures are delivered and how strict the course schedule is.

1. Live Classes – These are live, in-person classes, usually held at a college. They have a rigorous structure and schedule. Becker instructors go over the review materials in a very similar fashion to most college courses.

Homework assignments are also given. Students who choose the live classes must attend 100% of the classes and complete the assignments if they want to get continuing updates if they do not pass the exam on the first try. Check
this link to see if live classes are offered in your area.

2. Online Classes – This course has weekly online classes where you can watch the instructor-led lectures. Students can ask questions of the instructor and classmates online. Check this schedule to find out if there is an online session that fits your schedule.

3. Self-Study CD – The CD has the instructor lectures and you study at your own pace. There are no assignments given and no set schedule to follow.

Price – $1,050 per part / $3,245 for all 4 parts
(Prices above include $95 registration fee; All 3 review formats have the same price)

The Good

1. Structure – Live and online classes have a very structured format. They are good for those who need to have a rigid schedule.

2. Discounts – If you work for the Big 4 or certain large corporations, Becker is often paid for or heavily discounted. Smaller discounts are offered if you are a member of your state CPA society.

3. Interaction – Live classes give students the opportunity to interact with other students and ask instructors face-to-face questions.

4. Materials – The lectures and textbooks are good primary study materials.

5. Endorsements – Becker is endorsed by the Big 4.

6. Flexibility – You can install the course on up to 3 computers.

7. Volume Discount – You get 1 section free if you buy 4 parts.

8. Mac Support – Mac users can purchase a version of the software specifically designed for the Mac (not just Mac compatible).

The Bad

1. Price – If it is not paid for by your employer, Becker is the highest priced of all the review courses.

2. Practice Questions – Many find that using the Becker lectures and textbooks are good primary study materials, but they need to be supplemented with Gleim or Wiley practice questions. Passmaster questions included with the Becker course are generally considered not as effective as Gleim or Wiley.

3. Poor Customer Service – Customer service is almost universally regarded as terrible. The guarantee states that if you attend all the lectures and get 90% on the homework, you can purchase new year materials at a discounted price if you do not pass. It has been very difficult for customers to qualify and get new materials at a discounted price.

4. Lack of Details – High level information is good, but details are lacking in a lot of areas.

5. Cram Course – The final review is not considered to be as good as Bisk.

6. Extra Fees - You get nickel-and-dimed with extra fees when material changes.

7. “Live” in Some Cases Isn’t – In some “live” locations, instructors just play the lecture DVD’s.

8. Location – Live classes may not be offered your area.

The Bottom Line

Becker is the only choice if you are looking for a live class unless you are lucky enough to have a regional course taught in your area that gives you another option. If your employer pays for it, Becker is a good choice.

Based on the statistics, Yaeger offers you the best chance to pass. If you are going to self-study and you are paying for it yourself, Yaeger gives you the most for your money.

Reviewed and updated January 15, 2012

CPAExcel is an experienced provider of CPA exam review courses. One of the major differences between CPAexcel and the other review courses is CPAexcel offers their study materials in “bite sized” modules rather than longer chapters or video segments.

CPAexcel offers 6 main options for study.

1. Online Self Study – This includes online study text, online exam questions, online flash cards, online discussion group membership, and online final review that helps you with last minute study before the exam.

The “online self study” does not include any printed materials, video, or audio guidance. The materials and questions are all online in an electronic format.

Price – $265 per part / $795 for all 4 parts

2. Text Self Study – This course includes everything in the “online self study” and adds in printed textbooks. The texts are developed by CPAexcel.

Price – $310 per part / $930 for all 4 parts

3. Online Video Self Study – This course includes everything in the “online self study” and adds in streaming online video of professors and online access to their slides. It does not include any printed study materials.

Price – $445 per part / $1,335 for all 4 parts

4. Video Self Study – This course includes everything in the “text self study” and adds in streaming online video of professors teaching the course material, the same videos on CD-ROM (not DVD), and access to the slides the professors use.

Price – $490 per part / $1,470 for all 4 parts

5. Online Professor Guided – This course includes everything in the “text self study” and adds professor guidance. This guidance is all online, and text only. It is through email, graded assignments and discussion forums, not audio or video.

During this course, the professors assign work to the students. The students have 3 days to complete each assignment. Students can send questions to professors and receive answers throughout the course period.

Price – $400 per part / $1,195 for all 4 parts

6. Video Professor Guided – This course includes everything in the “video self study” and the “online professor guided” courses.

Price – $580 per part / $1,690 for all 4 parts

The Good

1. Discount - There is a 20% discount on all purchases if you are a college student.

2. Unlimited Updates – CPAexcel offers unlimited updates to the course materials. If you do not pass as quickly as you want, you can still get updated materials without paying extra. Other CPA exam review courses have expiration dates after which you need to pay to get updates. You do have to pay for shipping costs if you order updates, though.

3. Good Pass Rate – The 87% pass rate is about double the national average pass rate, but is lower than some of the other review courses. CPAexcel makes a big deal on their website about how other review services calculate pass rates, but in my conversations with other course providers, they all calculate pass rates based on surveys of students, the same as CPAexcel does.

4. Combined Scores – CPAexcel synchronizes your scores on practice questions and exams on the downloaded and online versions of the software. This means that if you answer practice questions both online and offline, CPAexcel will combine your performance when you go back online. This is a handy feature some of the other review courses do not offer.

5. Special Bonuses – If you purchase all 4 parts, you can choose from either free e-books or a free USB course and flash cards.

The Bad

1. Limited Access To Instructors – Access to the professors is online only and not live or real-time.

2. Inefficient Options – In my opinion, the “online self study” and “text self study” courses are not an efficient way to study for the exam. Audio and video support are much more helpful and work well to reinforce test questions and text study.

3. Misleading Final Review – The “final review” touted by CPAexcel is an exam only. It is customized to your strengths and weaknesses, but it is not comparable to the “cram courses” offered by other CPA exam review courses. CPAexcel tries to make this comparison on its website, but I believe that is misleading given the content and structure of other final review courses that are more comprehensive.

4. Guided Self Study Only – There are no “in person” classes. CPAexcel does have professor mentoring as part of two training packages, but this is for questions you email to a professor. They respond back via email within 24 hours.

5. Price – You can get more materials and options from other review courses for similar pricing, which means CPAexcel is a bit overpriced for what it offers.

6. Many Instructors – Compared to the other review courses, CPAexcel has a huge number of instructors (16 in total!).  This leads to an inconsistent learning experience as you switch from instructor to instructor.

The Bottom Line

The major difference between CPAexcel and the other review courses is the bite-sized lessons and the large number of instructors. The lessons are delivered in 30 minute chunks allowing you to knock out a topic if you are pressed for time. CPAexcel also has a nice guarantee where you get free updates and access to course materials until you pass the exam. There is no expiration date.

If you will have trouble dedicating time to study or feel like it may take you several tries to pass the exam, CPAExcel may be the course for you since there are free updates and the course does not expire.

If you are looking for consistency in the instruction, the best value in a review course and the best chance for passing the exam, Yaeger is the course to choose, in my opinion.