CPA Board Exam Study Groups: How to Form, Run, and Actually Benefit from One

Reviewing for the CPA Licensure Examination is a long, demanding process. Six subjects, 450 MCQs over three days, months of preparation — it can feel isolating. This is why many reviewees form study groups, and when done right, group study can be one of the most powerful tools in your review arsenal.

But here is the uncomfortable truth: most study groups fail. They start strong in the first week, then devolve into social hangouts, complaint sessions, or unproductive meetings where one person does all the work while others scroll through their phones.

This guide will show you how to form a study group that actually works — one that makes every member better prepared for the CPALE.

Why Study Groups Work (When They Work)

Before diving into logistics, let us understand why group study is effective from a learning science perspective:

The Teaching Effect

Research consistently shows that teaching a concept to others is one of the most effective ways to learn it. When you explain how to compute weighted average cost of capital or walk someone through the donor's tax computation under TRAIN Law, you are forced to organize your knowledge, identify gaps in your understanding, and articulate ideas clearly.

If you can explain it, you know it. If you cannot, you have found a gap to fill.

Multiple Perspectives

The CPA exam tests application, not just memorization. A classmate might approach a problem differently than you — using a shortcut you had not considered or interpreting the question from an angle you missed. Exposure to different problem-solving approaches makes you more adaptable on exam day.

Accountability

When you study alone, skipping a day is easy. When three other people are expecting you to show up prepared to discuss Auditing standards, you are far more likely to follow through. Social commitment is a powerful motivator.

Emotional Support

Let us not underestimate this. The CPALE is stressful. Having a group of people who understand what you are going through — the frustration of failing mock exams, the anxiety of approaching exam day, the guilt of falling behind schedule — provides emotional resilience that solo reviewees often lack.

How to Form an Effective Study Group

Ideal Group Size: 3-5 Members

This is not arbitrary. Here is why:

• 2 members: Too small. If one person is absent, there is no group. Limited diversity of perspectives.
• 3-5 members: The sweet spot. Enough people for meaningful discussion, small enough that everyone participates actively. You can assign subject leads without overloading anyone.
• 6+ members: Too large. Discussions become unfocused, scheduling becomes a nightmare, and quieter members stop participating. Free-riding becomes more common.

Recommendation: Start with 4 members. This allows you to assign subject pairs (6 subjects, 2 per person for subject lead duties) and still function if one member occasionally cannot attend.

Choosing the Right Members

Not everyone makes a good study group partner. Look for these qualities:

1. Commitment: They are serious about passing. This does not mean they need to be top students — it means they show up, prepare, and put in effort.
2. Complementary strengths: If everyone is strong in FAR but weak in Taxation, the group cannot help each other effectively. Ideally, each member brings strength in at least one subject.
3. Compatible schedules: You need to meet consistently. If members have wildly different availability, the group will not survive past week two.
4. Respectful communication: Group study involves disagreements about answers and approaches. Members should be able to debate without ego.

Red flags to watch for:

• Someone who only wants to "get" answers without contributing
• Someone who consistently shows up unprepared
• Someone who dominates every discussion and dismisses others' input
• Someone who treats sessions primarily as social time

Where to Find Study Group Members

• Your review center batch — Natural starting point since you share a schedule and materials
• University alumni groups — Facebook groups for your school's accountancy alumni often have reviewee threads
• Online CPA review communities — Reddit (r/AccountingPH), Facebook groups (CPA Reviewees PH), Discord servers
• CPA Review PH community — Connect with other users preparing for the same exam cycle

Structuring Your Study Group

Assign Subject Leads

Each member takes primary responsibility for 1-2 subjects. The subject lead does not teach the entire subject — instead, they:

• Prepare discussion questions for each session on their assigned subject
• Research tricky topics and bring clear explanations to the group
• Create summary sheets or formula lists that the group can use
• Lead mock exam reviews for their subject, explaining commonly missed items

Example assignment for a 4-person group:

Note that FAR and AFAR are related (both are financial accounting), and Member C gets only Taxation because it is one of the heaviest subjects. Adjust based on each member's strengths.

Session Structure: The 2-Hour Template

A well-structured session prevents time-wasting. Here is a proven format:

Minutes 0-10: Check-In (10 min)

• Each member briefly shares: What did you study this week? Any concepts you are struggling with?
• This is social time — keep it short but do not skip it. It builds group cohesion.

Minutes 10-40: Subject Discussion (30 min)

• The subject lead presents 3-5 discussion questions or problem scenarios
• The group works through them together, debating answers and approaches
• Focus on "why" the answer is correct, not just "what" the answer is

Minutes 40-80: Problem Solving (40 min)

• The group works through a set of 10-15 practice problems together
• Each member attempts the problem individually first (2 minutes), then the group discusses
• For computational problems, compare methods — there are often multiple valid approaches

Minutes 80-110: Mock Exam Review (30 min)

• Review problems that members got wrong on recent mock exams (individual or group)
• Focus on patterns: "We keep missing questions about joint ventures under PFRS 11" signals a group-wide gap

Minutes 110-120: Planning (10 min)

• Assign topics for the next session
• Identify any topics that need extra attention
• Confirm schedule for the next meeting

Meeting Frequency

• Ideal: 2-3 times per week during intensive review periods
• Minimum: Once per week to maintain momentum
• Maximum: Daily sessions risk burnout and reduce individual study time

Remember: group study supplements solo review; it does not replace it. You still need significant individual study time for reading, memorization, and personal practice.

Online vs. In-Person Study Groups

Both formats work. Here are the trade-offs:

In-Person Sessions

Advantages:

• Easier to maintain focus (fewer distractions than online)
• Whiteboard/paper sharing for working through computations
• Stronger social bonds and accountability
• Better for complex discussions that benefit from body language and quick back-and-forth

Disadvantages:

• Travel time and cost
• Scheduling is harder (everyone needs to be in the same place)
• Limited to members in the same geographic area

Best locations: University libraries (quiet, free, has whiteboards), review center study rooms, coffee shops with quiet corners (though these can be distracting)

Online Sessions

Advantages:

• No travel time — saves 1-2 hours per session
• Easier to schedule across different locations
• Screen sharing for reviewing digital materials and mock exam results
• Recordings possible for members who miss a session

Disadvantages:

• Easier to get distracted (checking phones, browsing)
• Technical issues (poor internet, audio problems)
• Harder to work through computations together
• Weaker social accountability

Best tools for online sessions:

• Video call: Google Meet, Zoom, or Discord (free and reliable)
• Shared documents: Google Docs or Sheets for collaborative note-taking
• Messaging: A dedicated group chat (Viber, Telegram, or Discord) for between-session questions
• Shared problem sets: Google Sheets or shared folders in Google Drive

Hybrid Approach

The most practical approach for many groups is hybrid: meet in person once a week for the main session, and do shorter online check-ins between meetings. This gives you the benefits of both formats.

Common Pitfalls and How to Avoid Them

1. Socializing Takes Over

The problem: Sessions start with 30 minutes of catching up, devolve into gossip, and end with "we will study harder next time."

The solution: Use the structured session template above. Assign a timekeeper who keeps the group on track. Allow socializing during the check-in period and after the session, not during study time.

A helpful rule: No phones during the 2-hour session unless looking up a specific reference. Put phones face-down on the table.

2. Unequal Effort

The problem: One or two members consistently show up unprepared, relying on others to explain everything. Over time, the prepared members feel resentful and the group falls apart.

The solution: Set clear expectations from the start. Every member must:

• Complete assigned reading before each session
• Attempt the practice problems before discussing as a group
• Fulfill subject lead responsibilities on their scheduled sessions

If a member consistently does not meet these expectations, have an honest conversation. If nothing changes, it is better to part ways than to let the group deteriorate.

3. Overreliance on Group Study

The problem: Members attend every group session but do little individual study. They feel productive because they are "reviewing" but are actually just passively listening.

The solution: Group study should be about 20-30% of your total review time. The remaining 70-80% should be individual study — reading, memorization, personal practice sets, and solo mock exams. If you are spending more time in group sessions than studying alone, you are doing it wrong.

4. Groupthink on Wrong Answers

The problem: The group agrees on an answer, but nobody verifies it. The confident member says "it is B" and everyone accepts it — even when it is actually C.

The solution: Always verify answers against a reliable source — your reviewer, the relevant standard (PFRS, NIRC, PSA), or an AI tutor that can explain the correct reasoning. When the group disagrees on an answer, do not just vote — argue your positions and check the source material.

5. Avoiding Weak Topics

The problem: The group naturally gravitates toward topics they are comfortable with. Nobody wants to lead a session on tax remedies or audit sampling because these areas are difficult and less fun to discuss.

The solution: Follow the BOA Table of Specifications. Assign topics based on the exam coverage, not on group preference. The uncomfortable topics are often the ones where group discussion helps the most.

6. Competition Instead of Collaboration

The problem: Members start comparing mock exam scores and the group becomes competitive rather than supportive. Lower-scoring members feel embarrassed and stop participating.

The solution: Share strategies, not just scores. When someone scores high on a mock exam, the group should ask "what did you do differently?" When someone scores low, the group should help identify weak areas, not judge. Everyone is working toward the same goal: passing the CPALE.

Combining Group Study with Solo Review

Here is a weekly schedule that balances group and individual study for a full-time reviewee:

This gives you roughly 30 hours of study per week with 3 group sessions (about 6 hours) and 24 hours of individual study. The 20/80 split ensures that group study enhances rather than replaces your personal preparation.

For working professionals with less available time, scale down to 2 group sessions per week and adjust individual study accordingly.

Making It Work: Ground Rules

Before your first session, agree on these ground rules:

1. Attendance: Members commit to attending at least 80% of scheduled sessions. If you cannot make it, notify the group at least a day in advance.
2. Preparation: Come prepared. Complete assigned readings and attempt practice problems before the session.
3. Participation: Everyone speaks. The subject lead facilitates discussion, but every member contributes answers and asks questions.
4. Respect: Disagree with ideas, not people. "I think the answer is different because..." not "You are wrong."
5. Confidentiality: Mock exam scores, mistakes, and struggles stay within the group.
6. Phones away: During study portions of the session, phones are off or on silent and face-down.
7. Review the rules monthly: Check in on whether the format is working and adjust as needed.

Study Group Tools and Resources

For Organization

• Google Calendar: Shared calendar for session scheduling
• Google Sheets: Track assigned topics, subject leads, and session agendas
• Trello or Notion: For groups that want more structured task management

For Study Content

• CPA Review PH: Practice questions, mock exams, and AI tutor for instant explanations during sessions
• Shared Google Drive folder: Store group-created summary sheets, formula cards, and notes
• BOA Table of Specifications: Use as your master checklist to ensure all topics are covered

For Communication

• Viber or Telegram group: For quick questions between sessions
• Discord server: If your group prefers organized channels (one per subject)

When to Disband

Not every study group works out, and that is okay. Consider disbanding if:

• More than half the sessions are unproductive after addressing the issue
• Key members consistently fail to prepare despite conversations about expectations
• The group creates more stress than support
• Members' schedules become incompatible
• You are within 2 weeks of the exam and need to focus entirely on personal weak areas

There is no shame in recognizing that a group is not working and returning to solo review. The goal is to pass the CPALE, not to maintain a group for its own sake.

Final Thoughts

A good study group is like a good team project — rare, but incredibly effective when it works. The keys are simple: choose committed members, structure your sessions, assign responsibilities, maintain accountability, and combine group study with substantial individual preparation.

The CPA board exam tests individual knowledge, but the journey to passing it does not have to be a solo effort. Find your group, set the ground rules, and push each other toward that 75%.

Good luck, future CPAs.