Exam Basics
What does "CPA" stand for?
Certified Public Accountant
How many CPA Exam sections must you pass to become a CPA?
All four
In most states, how many total semester hours of college coursework are required to become a CPA?
150 hours
What type of testing format is used for the CPA Exam?
Computer-based testing
How many sections of the CPA Exam are there?
Four
Which section of the test focuses on risk assessment, internal controls, and audit procedures?
Auditing and Attestation (AUD)
Which entity is responsible for issuing CPA licenses?
State Boards of Accountancy
How often is the CPA Exam offered each year?
Year-round on a rolling basis
What is the name of the organization that administers the CPA Exam?
AICPA – American Institute of Certified Public Accountants
What are the four sections of the Exam?
Auditing and Attestation (AUD), Financial Accounting and Reporting (FAR), Regulation (REG), and a Discipline section
How long is the work experience requirement before earning a CPA license if you take the 150-hour education pathway?
Are you able to take the test in any location, such as your house, as long as it is approved?
No, you have to take the test at a testing center
What is the minimum passing score for each section of the CPA Exam?
75
Which CPA Exam section tests knowledge of financial reporting standards?
Financial Accounting and Reporting – FAR
What continuing education requirement must CPAs fulfill to maintain their license?
Continuing Professional Education – CPE
What additional exam does most states require to get your CPA license?
Ethics Exam
How long do candidates have to pass all four sections of the CPA Exam before losing credit for a passed section?
30 months
What does the REG section of the CPA Exam primarily cover?
Taxation and business law
What is generally regarded as the most difficult section of the CPA Exam to take?
Financial Accounting and Reporting – FAR
What is the maximum time allowed to complete each CPA Exam section?
Four hours