I took the Principles of Accounting CLEP last week – I somehow managed to pull off a score of 78. Here is my feedback on this exam.

I used the following study resources:
-A 20 year old accounting textbook.
-Accounting Coach
-Baruch College - Digital Media Library This link is to a group of online video lectures. They are not great, but they helped me a lot.

I studied for about 1.5 months, primarily because I was having a tough time with the practice tests.

Exam notes:
-Overall, I found the Peterson’s online practice test to be much, much harder than the actual exam.
-There were only 5 questions that required serious math to solve. Rather than taking a ton of time to calculate the answer, I took a few seconds to look over the answers and picked one that seemed reasonable. I planned to review these questions at the end of the test, but I did not have enough time.
-The exam had plenty of additional questions that required some math, but all could be solved easily without a calculator.
-Time is an absolute killer. I had 2 minutes to spare when I completed the last question.
- Although I had a tough time learning this material, I felt that this exam was the easiest of the 3 CLEPs that I have taken (the others were Micro and Macro economics).

This exam will be discontinued in June, so start studying soon if you need to take it. It is definitely passable with some study time.