Kaplan Transforms CPA Preparation With Web-Based Programs for New Exam

Leader in Test Prep and Online Education Expands Offerings for Financial Services Professionals

New York, NY (February 11, 2004) - With the CPA Exam about to undergo its most significant change since 1994, Kaplan, Inc., one of the world's leading providers of computerized test prep and online learning, today launched a major new CPA test prep initiative, based on its years of experience in web-based educational programs.

The launch comes as the Uniform Certified Public Accountant (CPA) Examination, the qualifying test for those seeking professional licensure as CPAs, shifts from a paper-based test to a computer-based format, beginning April 5, 2004. In preparation for the new exam, Kaplan CPA Review's new technology-based program will include live, Internet-delivered video classes with interactive Q&A, practice simulations, unique software providing unprecedented flexibility to customize preparation, and an online bank of 3,000-plus questions.

The new Kaplan CPA Review also includes functionality that enables students to simulate on-the-job experiences, such as operating spreadsheets and extracting specific facts, regulations and accounting principles. On-demand lecture and problem-solving videos are delivered in 20-30 minute segments, offering candidates flexibility with their study schedules.

Kaplan also announced that it has acquired HoyleCPA Success, a Richmond, Virginia-based leader in CPA Exam review founded by Joe Hoyle, an award-winning educator, author and associate professor of accounting at the University of Richmond's Robins School of Business. Kaplan is currently a leader in test preparation for other computer-based exams, including the GMAT and GRE. Hoyle will provide leadership and expertise to Kaplan CPA Review.

"The combination of Hoyle's outstanding technical expertise and teaching skills coupled with Kaplan's technology and extensive experience in computer-based test prep will provide candidates with an excellent program specifically developed for the new computerized CPA Exam," said Eric Cantor, President of Kaplan Professional, a division of Kaplan, Inc. "Joe Hoyle has 25 years of experience and depth of knowledge in CPA training, so this was a tremendous opportunity to enhance our existing CPA portfolio with rich resources and market-leading instruction."

"I'm excited by the opportunity to join forces with Kaplan to take CPA test prep to the next level by providing a technologically sophisticated, best-of-class program to CPA candidates," said Hoyle. "Kaplan is a great fit for me because it is the world leader in test prep and it has extensive experience in computer-based practice tests and online programs."

As part of the new CPA program, students receive unlimited online access to Kaplan CPA's simulations and testlets, a comprehensive research library covering all content covered in the new computerized CPA Exam, and an extensive customizable database of exam-like questions that enables test takers to identify and focus on weak areas. Online live question and answer sessions and weekly e-mail lessons provide direct interaction with instructors, while a problems and solutions book and a lesson book provide supplementary study material.

More than 58,500 individuals took all or part of the four-part CPA Exam, administered by the Board of Examiners of the American Institute for Certified Public Accountants (AICPA), in 2002. Roughly 17% of those who sit for the exam pass all four parts of the notoriously difficult, content-heavy exam the first time - and most take sections of the exam multiple times before they pass. However, studies have shown that students who take CPA review courses increase their odds of passing by 77 percent. (Source: National Association of State Boards of Accountancy)

About Kaplan, Inc.
Kaplan, Inc. (www.kaplan.com) is a premier provider of educational and career services for individuals, schools and businesses worldwide and is comprised of four divisions: Kaplan Test Prep, which offers test prep and admissions services worldwide, including K12 services for schools; SCORE!, which offers after-school learning programs for kids; Kaplan Professional, which offers licensing and continuing education training and compliance tracking; and Kaplan Higher Education, which offers post-secondary educational certificate and degree programs online and through 62 campus-based schools. Kaplan is a wholly-owned subsidiary of The Washington Post Company (NYSE: WPO). With an estimated $838 million in 2003 revenue, Kaplan is the largest revenue producer within The Washington Post Company.

Press Contacts:

Carina Wong
212-492-5992
carina_wong@kaplan.com 

Printable Version