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You are finishing up your accounting degree and getting ready for the big CPA test. You are nervous and want to study in the most efficient way possible. You decide involving ChatGPT couldn’t hurt your chances so you decide to ask for its help. You know the best way to get good responses is to be specific and you decide to test it out on every stage. Follow the instructions below to get some study help! (The principals practiced here can be used for every standardized test: CMA, MCAT, GMAT, ACT, SAT, etc)
Open OpenAI and go to ChatGPT (you can also use other generative AI tools like Google’s Bard). This is the free version of ChatGPT.
Write a prompt asking Chat to name all the CPA sections and give a quick description of each
Next, Ask Chat for some help understanding Financial Accounting and Reporting. You want a list of all the topics that could be included in that section.
Example Prompt: I don’t understand the section on Financial Accounting and Reporting as well as I should, do you know what topics would be included in that section?
Come up with a prompt or series of prompts to generate 2 practice questions for Earnings Per Share Calculations (one of the subtopics listed under “1. Conceptual Framework and Financial Reporting”)
** Your response likely won’t match exactly, but it should generate 2 similar problems**
Example prompt: Ok I’m a little rusty on the earnings per share calculations. Can you give me 2 practice calculations that would look similar to what I could see on the CPA exam? Can you make the first one a little easier as a warm-up and the 2nd one harder? Also, can you give me answer choices for each question like they would on the exam, but don’t tell which one is correct until I respond?
-Does your response have 2 CPA Exam example questions with 1st easier and 2nd harder?
-Does your response include possible multiple-choice answers without telling you the correct answer?
-Does your prompt ask you to respond with your answers?
See Solution Here
If there is a standardized test you are preparing for, follow what you learned here and apply. Please share how well it works in your response below.