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.
Eligibility Criteria for CPT
- 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.
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)
|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 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
- 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|
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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.
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 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.
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.
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.
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