The CPT exam (Common proficiency test) is organized by the ICAI (Institute of chartered accountants of India. This exam is meant for those students that are registered already with this institute for a CPT course and fulfills the eligibility requirements as per the ICAI. The CPT is an exam that helps in becoming a chartered account. The student who is willing to join ICAI to enroll in a program of chartered accountancy, they have to appear in this CPT exam.
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What is the CPT Exam?
The ICAI is the organizing body of the CPT examination, in pursuance of 22 regulations of regulations of chartered accountant, 1988. CPT exam is also called as CA foundation exam. It is an entry-level test that is conducted in June for easy admission to the CA course. This exam is conducted on annual basis at the national level. It offers the candidate an amazing opportunity for beginning with this course and learning about how it works in India.
Eligibility requirements for CPT exam
There are some of the factors that decide whether the candidate applying for the CPT exam is eligible or not. In case, the student is not fulfilling certain criteria, then the conducting authority of the CPT exam has the right of cancelling candidature for its academic session. So all the candidates need to make they agree to the criteria, before applying for this CPT exam.
The eligibility criteria requirements are mentioned below:
- The candidate must have passed or 10+2. A student who appeared in Class XII can also give this CPT exam.
- The candidate must have registered in a common proficiency course with the ICAI board of studies at least before or on 30 June 2021.
- The candidate should have revalidated their registration for the common proficiency course.
- As per the council, its validity is only for 3 years, and students are required to revalidating it from the regional office before its expiry.
- The student should hold a valid registration number. Please make sure that your registration for the course of common proficiency on the application form is valid.
- There is no age limit set for giving the CPT exam.
Syllabus of CPT exam
The candidates who are preparing for the CPT exam must refer to the detailed syllabus for every subject, as it offers them a good understanding type and questions type are also known to the students. Around 200 questions are asked in the CPT exam based on various topics like mercantile laws, general economics, accounting fundamentals, and quantitative aptitude.
These topics are segregated into different sections. The detailed syllabus is listed below:
- Accounting fundamentals
- Special transactions accounting
- Preparing final accounts for sole traders
- Bank reconciliation statement
- Theoretical framework
- Process of accounting
- Depreciation accounting
- Partnership accounts
- Company accounts introduction
- Mercantile Laws
- Cost and production theory
- General Economics
- Micro Economics
- Price Determination
- Indian Economy
- Demand and Supply
- Banking and money
- Indian Economic Development
- Money and Banking
- Economic Reforms
- Indian Economy
- Quantitative Aptitude
- Geometric and Arithmetic progressions
- Index Numbers
- Series and sequence
- Compound and Simple Interest
- Ratio and proportion
- Correlation & Regression
- Permutations and Combinations
- Differential & Integral Calculus
- Theoretical Distributions
- Limits and Continuity
- Central Tendency & Dispersion
- Sampling Theory etc
Exam pattern of CPT
CPT is an offline-based examination. The student has to give the exam by being physically present in the exam hall. One can give the exam either in Hindi or English, depends on the student’s choice. It includes 200 objective-based questions. The questions are divided into two sessions. The session break includes:
- Session 1 covers Mercantile and accounting
- Session 2 covers Quantitative Aptitude and economics
The marking scheme of the CPT exam is also kept simple. For every correct answer, the student gets 1 mark and for a wrong answer, there is a deduction of 1/4th marks. If you leave any question, then there will be no deduction of unanswered questions.
- Accounting fundamentals is of 60 marks
- Mercantile law is of 40 marks
- General economics is of 30 marks
- Quantitative Aptitude is of 50 marks
The total score is 200 marks
The duration of the exam is 4 hours.
CPT exam fees
The examination fee of the CPT exam is Rs 1000, in case you make a late payment then additional 600 Rs is charged, which means 1600 Rs. You can make the payment of CPT fees via net banking, debit or credit card, BHIM UPI, etc.
How to apply for the CPT exam
The application form for the CPT exam is available online. In case you want to edit or modify your details, then it is allowed until you finally submit the registration form.
- Visit the official website as icai.org
- Register by filling in your details
- Fill in your details like Name, Gender, DOB, contact number
- Submit your form after completing it
- Login with your ID and password sent on your e-mail
- Fill in your details like father’s name, mother’s name, address, nationality, category, educational qualification, etc.
- Upload your passport size picture
- Make an online payment of examination fees
- Get a printout of your CPT form for future purposes
CPT admit card
The admit card for the CPT exam is made available by the end of May or in June. The students opted for the December slot, for them the admit card is issued in November’s second week or at starting of December. The candidates can get their admit card online from its ICAI official website by entering registered username and password. The admit card contains important details like the candidate’s name, roll number, exam center, and important instructions. It is important to carry the admit card along with identity proof to the examination center.
Expert tips to crack the CPT exam
- The main objective behind the CPT exam is to check the aptitude level for the chartered accountancy course. Here are some of the expert’s tips that can help in cracking the CPT exam.
- As you need around 30% in all the subjects for cracking CPT, keep in mind that you need to concentrate on all the subjects so that you can qualify subject basics.
- As you are appearing for the CPT paper, always keep in mind, accounting is very important. If the account basics and concepts are clear, you have more chances of clearing the CPT exam. Make sure you practice this subject and focus on theory as well.
- Another subject important for clearing CPT is mercantile law. It is one of the scoring subjects. Practice calmly and learn everything related to the contract act too.
- Go through Macro economics first and then shift to other subjects as it is scoring and much easier to grasp as compared to other subjects.
- Some students get frustrated due to statistics and mathematics but remember all the topics are not that difficult. You can go through the easy topics and can make your grip on them for scoring more. Try picking topics like integration and differentiation, regression, correlation, and others.
- Attempts those questions only about whom you are pretty sure
- Study with proper planning. Make a schedule and stick to it.
- Additionally the more you will practice, the better you will be able to score in the CPT exam.