CA Entrance Exam 2021- Common Proficiency Test

CA Entrance Exam – What is your reaction when you hear about it? Yes Of course! You want to know all about the CPT Exam. If that is so? Then, this is the right article giving you the overall information of the entrance exam for the CA after 12th that is Common Proficiency Test -Eligibility, Qualification, Syllabus, and Preparation.

Have set your ambition in your life to become a Chartered Accountant? But don’t know where and how to start the preparation to become a chartered accountant. What is the eligibility, qualification, and when to start? Are the big Question marks to start and crack the CPT exam.

Hereby, we come with key solutions and proper step-by-step guidance for the CPT exam. About how to prepare for the first level exam of CA that is CPT. Let us understand more details of the CPT Exam.

CA Entrance Exam – Common Proficiency Test (CPT)

CPT is a qualifying examination to become a Chartered Accountant(CA). This is an examination conducted by the Institute of Chartered Accountants India (ICAI). This is the first level of a Chartered Accountant.

Also, this examination is conducted twice a year. This National Level exam is a Pen-paper type of exam. Generally, it is conducted in the month of May and November approximately.

Full form of CPT

CPT stands for the Common Proficiency Test. It is also known as the CA Foundation Exam. Also, it is the first level of qualifying test for chartered accountancy programs. It is a national-level examination. CPT Exam is the only entrance exam of CA.

What is ICAI

ICAI stands for the Institute Of Chartered Accountants India. It is a statutory body that is established by an Act of Parliament. ICAI regulates the whole functioning of Chartered Accountancy in our country.

About Chartered Accountant (CA)

A Chartered Accountant is an accounting professional. His main role and responsibility are to look forward to the financial statements of the businesses, tax returns, audits, at the same time advise the clients on the financial terms of the business.

A person to become a chartered accountant has to pass 3 qualifying levels of the examination. After the candidate passes one level he is eligible for another. The three levels of the examination are as follows.

CPT exam or CA foundation exam
Intermediate exam
Final exam

The candidate also has to complete an Articleship of 3 years. Here, the candidate has to undergo practical training under a chartered accountant by joining a chartered accountant firm.

CA Entrance Exam

Common Proficiency Test (CPT) is the entrance exam to become a Chartered Accountant(CA). It is a National Level Exam conducted by an authorized body ICAI. It is a pen-paper mode of exam which is conducted twice a year.

Eligibility Criteria

To apply for the CPT exam you need to possess some eligibility criteria. The eligibility criteria to apply for the CPT exam are listed below.

Educational Qualification

For a candidate to appear for the CPT exam he/she should have passed the 12th examination from a recognized Board.
Even Science students are eligible to for CPT Foundation Exam.

Registration

Secondly, but most importantly the candidate has to register himself/herself with the Board of studies of ICAI. Registration should be done within the time limit.

Validity

The registration with ICAl is valid for a period of 3 years. If a candidate wishes to give more attempts he/she has to re-register.

Registration Number

After registering with ICAI a candidate will get a registration number. The candidate has to keep this number safe. This number is a must while filling CPT Form.

Exemption

There is an exemption for the CPT exam for the students as listed below.

The students who have passed graduation or post-graduation in the branch of commerce from a recognized University. And, also have secured an aggregate of 55% of the total marks in certain subjects.
Graduates or postgraduates who have secured at least a minimum of 60% marks from a recognized University are exempted from the CPT exam.

Number of attempts

There is no such limit for the CPT Exam attempts.
A candidate can give as many attempts as he/she wishes to.
The only thing that he needs to do is to register himself/herself with ICAI.

How to fill CPT Form

To fill the CPT Form follow the following steps.

Step 1: Click on http://icaiexam.icai.org

Step 2: Fill the form with all necessary details

Step 3: Choose the preferable exam center. There are many exam centers available all over India

Step 4: Pay the fees of Rs. 1000/-

Step 5: Recheck the information

Step 6: Click on the Submit button

Step 7: Take a printout and keep it safe with you.

CPT Admit Card

No hard copy of the Admit card is sent to the candidates
The candidate should download the Admit card from official website of ICAI
The candidates need to take the Print Out of this admit card
The print out of this admit card is mandatory for CPT Examination Hall

CPT Exam Pattern

Exam Mode	CPT is a pen-paper test
Marks	400 marks
Duration	Paper 1 & 2 – 3 hours Paper 3 & 4 -2 hours
Language	The candidate can choose Hindi or English language
Negative Marking	Paper 1 & 2 – No negative marking Paper 3 & 4- 0.33 is the negative marking
Question Paper Type	Paper 1 & 2 – Subjective Paper 3 & 4- Multiple Choice Questions(MCQ’s)

Details of CA Entrance Exam

Paper	Subject	Marks	Duration
Paper 1	Principles & Practice of Accounting	100marks	3 hours
Paper 2	Business Law & Business Correspondence (Business Law) (Business Correspondence)	60 marks 40 marks	3 hours
Paper 3	Business Mathematics, Logical Reasoning & Statistics Business Mathematics Logical Reasoning Statistics	40 marks 20 marks 40 marks	2 hours
Paper 4	Business Economics & Business-Commercial Knowledge Business Economics Business -Commercial Knowledge	60 marks 40 marks	2 hours

CPT Exam Syllabus

CPT Exam consists of 4 main subjects. The details of the subjects with the chapters are as follows.

1. Fundamentals of accounting

Accounting for special transactions
Final accounts for sole proprietors
Bank reconciliation statement
Theoretical framework
Depreciation accounting
Accounting process
Partnership accounts
Introduction to company accounts

2. Mercantile Laws

(i) General nature of the partnership

Right and duties of partners
Registration and dissolution of a firm under Indian partnership act 1932

(ii) Formation of the contract of sale

Conditions and warranties
Transfer of ownership and delivery of goods
Unpaid seller and his right under sale of goods act 1930

(iii) An overview of sections 1 to 75

General nature of the contract
Consideration
Essential elements of a valid contract
Performance of contract
Breach of contract under Indian contract act 1872

3. General Economics

Theory of production and cost introduction to microeconomics
Price determination in different markets
Indian economy theory of demand and supply
Indian economic development money and banking
Economic reforms in India special aspects of the Indian economy

4. Quantitative Aptitude

Sets functions
Arithmetic and geometric progressions
Sequences and series
Index number
Simple and compound interest
Station proportion, indices, logarithms
Equations
Correlation and regression
Inequalities
Permutations and combinations
Approach
Basic concepts of differential integral calculus
Theoretical distribution
Limits and continuity and statistical description of data
Measures of Central tendency and dispersion
Sampling theory

Passing Criteria & Cut off

The candidates should secure marks prescribed by the ICAI
A candidate should secure a minimum of 30 % marks in each section
And the average minimum marks of 50% in both sections
No reservation system is followed for the CPT exam. The candidates qualify for this examination irrespective of their OBC/SC/ST category. In short, it is totally on a merit basis.

Cut Off

Subject	Cut off for CPT
Fundamentals of accounting	30% of 60 marks
Mercantile laws	30% of 40 marks
General Economics	30% of 40 marks
Quantitative Aptitude	30% of 50 marks

Tips to crack CPT Exam

A big advantage that you get in CPT is that the book is sent to you by ICAI. So you have very good reference material for CPT. You will not get confused about what to refer to and what not to.

Make Notes

Though you have got the reference material it is a must that you prepare your own keynotes. That will greatly help you revise your lessons at the time of examination and also save time.

Adequate Time

Looking forward to the nature of the exam it is better that you start your preparation prior to hand only. If you have set your goal to become a Chartered Accountant, then it is advisable that you start the preparation for the CPT exam from 11th std itself. Self-study or to join any coaching for preparation is your choice.

Time Management

Time Management for this study is very important. Prepare a timetable for yourself in such a way that each of the 4 subjects is given proper time. Follow the timetable on a daily basis.

Focus on Accounts

An account is a key subject for Chartered Accountants. So its practice and focus are of vital importance. Practice accounts on a daily basis and makes your concepts crystal clear.

Concept Understanding

Understand the concepts point out charts and keynotes. Make charts for formulas. Do not by heart the concepts. It will not help you in any way. Though you take some time but try understanding the concepts.

Solve your doubts

Try solving all your doubts as to and how you get. Make your concepts and doubts clear and then only move forward. You move on keeping your doubts in mind.

Solve Previous Year Exam Paper

Try solving the previous year’s papers. This will make you familiar with the exam paper pattern and time management.

CPT Topper’s Interview

Let us now look forward to what CPT Toppers have to say about the CPT exam and its preparation. It will surely give you tips and tricks to crack the CPT exam in the first attempt. As it is said study smart and not hard.

CPT Toppers’s Interview- Click Here

What After CPT Exam

The result for the CPT exam is announced in 3-4 weeks. Once the results are announced the big question mark is what next? After passing the CPT exam you are eligible for CA Intermediate Exam.

Soon, you have to start your preparation for 2 groups of Intermediate Exams. Now all the subjects are subjective types. And no more MCQs. So you really need to work hard and start an early preparation

Conclusion

To sum up, after looking through all the detailed accounts of the CA Entrance Exam we hereby finish it. Is CA your dream course after the 10th class? Then, here we assume that this information surely helps you tally all your queries related to the CPT Entrance Exam. This information will surely guide you to crack the CPT exam and move forward and become a successful CA.

If any more queries regarding the CPT exam you can get connected to us by commenting in the comment box. We will surely reach you with the solution to your query.

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