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Common Proficiency Test – the gateway to Chartered Accountancy

Have you recently appeared for or cleared your Class XII exam?         þYes

Do you want to make a career in finance, accounts or taxation? þYes

Then you should aspire to become a Chartered Accountant, the most sought after and premier professional qualification for finance and accounting professionals.

 

Background

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You take your first step by passing the Common Proficiency Test (CPT). CPT is an entry level test for the Chartered Accountancy course conducted by the Institute of Chartered Accountants of India (ICAI)

Students can enrol for the CPT course after passing the Class 10 (Secondary) examination and start preparing for the CPT Examination, while pursuing their 10+2 (Senior Secondary) Course. This encourages and provides an opportunity to young students to make an early entry to the profession.
 
Note: Commerce Graduates/Post-Graduates (with minimum 55% marks) or Other Graduates/Post-Graduates (with minimum 60% marks) need not take the CPT and can directly enrol for the next stage i.e. Intermediate (IPC) course.
 

 Eligibility

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To be eligible to take the CPT, students must have either appeared in or passed 12thstandard examination conducted by a recognised board and registered for the Common Proficiency Test Course (CPC) at least 2 months prior to the first day of the month in which the CPT exam is scheduled to be held. 
A student who has got himself registered for CPC at least 2 months (60 days) prior to the first day of the month in which CPT examination is to be held i.e. on or before 1st April and 1st October, can appear in the CPT examination to be held in June and December respectively.
To join CPC, you have to register with the ICAI by submitting CPC Registration Form along with course fee of Rs. 6,000/-. Online registration is also possible and payment can be made through credit cards.
To appear in the CPT, students have to fill a separate examination application form as per the Notification and Announcement issued by the Examination Division of the ICAI in this regard. Examination in paper-pencil mode is held two times a year, in June and in December. There is also provision for On-line CPT Examination which is notified and announced by the Examination Division from time to time, on the ICAI website.
 

Exam structure

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The CPT is taken in two parts or sessions of two hours each and each session covers two subjects as follows:-
SESSION – I (Two Sections – Two hours – 100Marks)
    • Section A: Fundamentals of Accounting (60Marks)
    • Section B: Mercantile Laws (40Marks)
SESSION – II (Two Sections – Two hours – 100 Marks)
    • Section C: General Economics (50 Marks)
    • Section D: Quantitative Aptitude (50Marks)
Detailed syllabus for the above papers can be obtained from the ICAI website. Students are given comprehensive study materials along with model test papers, upon registration. The ICAI has also provided further assistance in the form of lecture series and self-assessment quizzes to help students prepare for the exam.
The CPT Examination has Objective Type questions.  Each of the questions would have a problem statement with four possible options from which a student is required to choose the most appropriate.  These questions can be of following types:
1. Questions having four alternate answers
2. “Fill in the blanks” type having four alternate answers.
3. Small paragraph of two-three lines, followed by a question having four alternate answers or 
4. Numerical having four alternate answers
 

Passing Requirements

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A Student is required to obtain 30% marks in each section and 50% marks in aggregate to qualify subject to negative marking of 0.25 marks for every wrong answer from June 2013 examination.
CPT is a tough exam and the pass percentages (number of students passing as a percentage of students taking the exam) have generally ranged between 30% - 40%. The ICAI has issued helpful guidelines on how to approach and prepare for the CPT
 

 

Specific Information relating to June 2015 CPT Exams

No.13-CA (EXAM)/CPT/June/2015 (Excerpts): In pursuance of Regulation 22 of the Chartered Accountants Regulations, 1988, the Council of the Institute of Chartered Accountants of India is pleased to notify that the Common Proficiency Test will be held on Sunday, 14thJune, 2015 in two sessions as below, at the following centres provided that sufficient number of candidates offer themselves to appear from each centre.

[This Common Proficiency Test will be conducted as per provisions of Regulation 25 D (3) of the Chartered Accountants Regulations, 1988.]

First Session

(i.e. Morning Session)

10.30 AM to 12.30 PM (IST)

Section - A Fundamentals of Accounting

Section - B Mercantile Laws

Second Session

(i.e. Afternoon Session)

2.00 PM to 4.00 PM (IST)

Section - C General Economics

Section - D Quantitative Aptitude

Applications for admission to Common Proficiency Test is required to be made in the relevant prescribed form as contained in the Information Brochure, which may be obtained from the Deputy Secretary (Examinations), The Institute of Chartered Accountants of India, ICAI Bhawan, Indraprastha Marg, New Delhi – 110002 on payment of Rs.1500/- (Rs.500/- towards examination fee and `Rs.1000/- towards cost of application form and Information brochure) per application form.

The fee for candidates opting for Abu Dhabi and Dubai, centres will be US $170 (US $ 150 towards examination fee and US $ 20 towards cost of application form and information brochure) or its equivalent Indian Currency. The fee for the candidates opting for Kathmandu centre are required to remit INR.1850/-(INR 850/- towards examination fee and INR 1000/- towards the cost of application form and information brochure) or its equivalent foreign Currency.

Since the cost of Information brochure containing Common Proficiency Test application form includes the examination fee, no separate fee is required to be remitted at the time of submitting the filled in application form. The Information brochure containing Common Proficiency Test application form will also be available in the Regional and Branch Offices of the Institute and can be obtained there from on cash payment on or from 7th April, 2015.3 Common Proficiency Test application forms duly filled in may be sent so as to reach the Deputy Secretary (Examinations) at New Delhi not later than 28 th April, 2015.

Applications received after 28th April, 2015 shall not be entertained under any circumstances. Applications duly filled in will be received by hand delivery at the office of Institute at New Delhi and at the Decentralised Offices of the Institute at Mumbai, Chennai, Kolkata, Kanpur, Delhi, Ahmedabad, Bangalore, Ernakulam, Hyderabad, Indore, Jaipur, Nagpur, Pune, Surat, Thane and Vadodara upto 28th April, 2015. Candidates residing in these cities are advised to take advantage of this facility. It may be noted that there is no provision for acceptance of application forms after 28th April, 2015 with late fee.

The candidates who fill up the examination application form online at http://icaiexam.icai.org from 7thApril, 2015 (10.00 hrs) to 28th April, 2015 (17.30 hrs) and remit the fee online by using either VISA or MASTER Credit / Debit Card shall not be charged Rs.1000/- (i.e. cost of application form fee). The aforesaid Common Proficiency Test (CPT) is open only to students registered with the Institute of Chartered Accountants of India for the Common Proficiency Course on or before 1st April, 2015 and fulfill the requisite eligibility conditions.

QUESTION PAPER BOOKLET LANGUAGE:

Common Proficiency Test is an objective type multiple choice questions based examination.Candidates will be allowed to opt for Hindi medium Question Paper Booklet for answering the questions.

[The above is an extract of the original notification. To see the original notification on the ICAI website, you can click here.]