Change the Way You Approach Full form of CPT

Are you the one looking for the Full form of CPT? Do not worry. I am sure all your searches related to CPT will stop here. Just stick to the article and till it and you will know all about CPT – What it stands for, Eligibility, Syllabus, Exam, 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 full form of CPT. Understand more details of the CPT exam here. Let us get started.

Full form of CPT

CPT stands for Common Proficiency Test. It is the first level qualifying exam to become a Chartered Accountant. It is also called Foundation Exam. This is an examination conducted by the Institute of Chartered Accountants India (ICAI). This is the first level of a Chartered Accountant. It is a compulsory exam to become a qualifying Chartered Accountant.

Also, the CPT exam is conducted twice a year. The CPT exam is conducted in the months of June and December respectively. This National Level exam is a Pen-paper type of exam.

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.

To appear for CPT exam you need to be a register yourself with ICAI. To register with ICAI you need to atleast complete your 12th class. But you can start your preparation for the CPT exam just after passing your 10th class.

To register yourself with ICAI for the CPT exam you need to pay the fees of Rs. 6000/-. The fee for the application of exam form is Rs. 600/-.

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

Full form of CPT – Details

CPT which stands for Common Proficiency Test 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.

full form of cpt

Eligibility Criteria for CPT

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 the period of 3 years. If an candidate wihes to give more attempts he/she has to re-register.

Registration Number

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.

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.

CPT Exam Pattern

Exam ModeCPT is a pen-paper test
Marks400 marks
Duration
Paper 1 & 2 – 3 hours
Paper 3 & 4 -2 hours
LanguageThe candidate can chose Hindi or English language
Negative MarkingPaper 1 & 2 – No negative marking
Paper 3 & 4-  0.33 is the negative marking
Question Paper TypePaper 1 & 2 – Subjective
Paper 3 & 4-  Multiple Chioce Questions(MCQ’s)

CPT Syllabus

Paper SubjectMarksDuration
Paper 1Principles & Practice of
Accounting
100marks3 hours
Paper 2Business Law & Business Correspondence
(Business Law)
 (Business Correspondence)


60 marks
40 marks
3 hours
Paper 3Business Mathematics, Logical
Reasoning & Statistics
Business Mathematics
Logical Reasoning
Statistics 


40 marks
20 marks
40 marks
2 hours
Paper 4Business Economics &
Business-Commercial Knowledge
Business Economics
Business -Commercial Knowledge


60 marks
40 marks
2 hours

CPT Exam Pattern & Syllabus

CPT Exam consist 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
  • 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

SubjectCut off for CPT
Fundamentals of accounting30% of 60 marks
Mercantile laws30% of 40 marks
General Economics30% of 40 marks
Quantitative Aptitude30% of 50 marks

Read this – Know Everything about Full form of NATA

Tips to crack CPT

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 time table for yourself in such a way that each of the 4 subjects is given proper time. Follow the time table 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.

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

Conclusion

To sum up, I really hope that till now you have changed your way to approach the full form of CPT exam. This detailed information will surely guide you to crack the CPT exam and move forward and become a successful Chartered Accountant.

If any more queries regarding the full form of CPT 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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