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 return, audit, 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 the one level he is eligible for the 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.
To apply for the CPT exam you need to posses some eligibility criteria. The eligibilty criteria to apply for the CPT exam is as listed below.
- 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
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.
The registration with ICAl is valid for the period of 3 years. If an candidate wihes to give more attempts he/she has to re-register.
After registering with ICAI an candidate will get registration number. The candidate has to keep this number safe. This number is must while filling CPT Form.
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 a keep a printout 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|
|Duration||Paper 1 & 2 – 3 hours|
Paper 3 & 4 -2 hours
|Language||The candidate can chose 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 Chioce Questions(MCQ’s)
Details of CA Entrance Exam
|Paper 1||Principles & Practice of|
|Paper 2||Business Law & Business Correspondence|
|Paper 3||Business Mathematics, Logical|
Reasoning & Statistics
|Paper 4||Business Economics &|
Business -Commercial Knowledge
CPT Exam Syllabus
CPT Exam consists of 4 main subjects. The details of 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 section 1 to 75
- General nature of the contract
- 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
- Correlation and regression
- Permutations and combinations
- 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.
|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.
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.
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 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
Account is a key subject for Chartered Accountant. So its practice and focus are of vital importance. Practice accounts on a daily basis and makes your concepts crystal clear.
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.
What After CPT Exam
The result for the CPT exam are 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 MCQ’s. So you really need to work hard and start an early preparation
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. If you have liked the article do not forget to share it with your friends!