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The CPA Exam Frequently Asked Questions

What is the Uniform CPA Examination?

The Uniform CPA Examination is the exam that individuals must pass to qualify for licensure as Certified Public Accountants in any of the 55 U.S. jurisdictions (the 50 states, the District of Columbia, Puerto Rico, U.S. Virgin Islands, Guam, and the Commonwealth of Northern Mariana Islands).

What is the purpose of the CPA Exam?

According to the CPA Examination Mission Statement, the purpose of the Exam is "To admit individuals into the accounting profession only after they have demonstrated the entry level knowledge and skills necessary to protect the public interest in a rapidly changing business and financial environment."

What is the CPA Exam like?

The Candidate Bulletin is the official handbook for individuals who plan to take the CPA Exam. It covers topics such as how to apply, how and when to schedule the examination, what rules are in effect at test centers, when to expect scores, and what topics are covered on the Exam. Download the Candidate bulletin.

What is the structure and format of the CPA Exam? 

The CPA Exam is available only in a computer based format and consists of four sections:

  • Auditing and Attestation (AUD). This section covers knowledge of auditing procedures, generally accepted auditing standards and other standards related to attest engagements, and the skills needed to apply that knowledge.
  • Business Environment and Concepts (BEC). This section covers knowledge of general business environment and business concepts that candidates need to know in order to understand the underlying business reasons for and accounting implications of business transactions, and the skills needed to apply that knowledge.
  • Financial Accounting and Reporting (FAR). This section covers knowledge of generally accepted accounting principles for business enterprises, not-for-profit organizations, and governmental entities, and the skills needed to apply that knowledge.
  • Regulation (REG). This section covers knowledge of federal taxation, ethics, professional and legal responsibilities, business law, and the skills needed to apply that knowledge.

When is the CPA Exam administered?

The Exam is offered five (and sometimes six) days per week during two months of every quarter. (These periods are known as "testing windows.") Testing is available in January & February, April & May, July & August, and October & November. Testing is NOT available in March, June, September, and December.

How much does it cost to take the CPA Exam?

Fees vary from one jurisdiction to another. For information about fees in a specific state or territory, visit the appropriate Board of Accountancy Website.

What other requirements are needed to become a CPA?

Licensure regulations vary by state and are available at http://www.nasba.org/nasbaweb.nsf/exam. CPA Exam candidates are encouraged to apply to sit for the Exam in the state in which they plan to practice.

www.cpaexam.org

  • Exam tutorial showing question formats and sample questions
  • Exam structure, content and grading policies

www.prometric.com/cpa

  • List of test centers available in the 55 jurisdictions (United States, Puerto Rico, Guam, the Virgin Islands, and the District of Columbia)
  • List of CPA Exam test center policies and procedures  

www.nasba.org/nasbaweb.nsf/exam

  • Board of Accountancy Web sites  

How can a foreign transcript or degree be evaluated?

All educational credentials earned outside the United States must be evaluated by one of the following professional credentials evaluation organizations to show U.S. equivalency:

What is a passing score?

A passing score is 75. The score does not represent percent correct.

How long do I have to pass all four parts?

You have 18 months to pass all four parts once you pass the first section.

Will my Temple University Fox School undergraduate accounting degree (B.B.A in Accounting) satisfy the education requirements to sit for CPA exam in Pennsylvania?

Candidates must have graduated with a bachelor’s or master’s degree (e.g. MACC) from an accredited college or university approved by the Pennsylvania State Board of Accountancy (SBOA), and have at least twenty four (24) semester credits in accounting subjects which must include the following:

  • 3 semester hours in general accounting, and
  • 3 semester hours in either: auditing, business law, finance or taxation. 
  • The remaining eighteen (18) semester hours may include any combination of accounting, audit, tax, business law and finance.

The Fox School B.B.A in Accounting will provide the following credits to meet the requirements.

Course Number Course Title Credits Subject Covered
Accounting 2101 Financial Accounting (1) 3 Accounting
Accounting 2521 Cost Accounting 3 Accounting
Accounting 3511 Intermediate Accounting I 3 Accounting
Accounting 3512 Intermediate Accounting II 3 Accounting
Accounting 3526 Accounting Information Systems 3 Accounting
Accounting 3531 Federal Taxes on Income 3 Tax
Accounting 3533 Advanced Accounting 3 Accounting
Accounting 3596 Auditing 3 Auditing
Accounting 4596 Senior Seminar in Accounting 3 Accounting
Law S.B.M. 3507 Business Law for Accountants (2) 3

Business Law
Total Credits:
30

In addition, the Fox School of Business’s undergraduate core curriculum requires the following course:

Course Number Course Title Credits Subject Covered
Finance 3101 Financial Management (3)   3 Finance

  1. Accounting majors who took Managerial Accounting (Accounting 2102) can also count this course towards the required semester hours in accounting credits.
  2. Accounting majors admitted prior to fall semester 2008 are required to take this course.  Accounting majors admitted during and after fall semester 2008 are not required to take this course but should consider taking this course as an elective to meet the course subject requirements for the CPA exam.
  3. Accounting majors admitted prior to fall semester 2008 were required to take an additional finance course and therefore may have an additional 3 credits towards the 36 credit hours required for the CPA.

Therefore an accounting major could have 30-36 credits in the approved subjects.

Effective January 1, 2012 the required number of total college credit hours to get licensed changed to 150, with 36 credit hours in the approved accounting subjects mentioned above.  Students who complete the Fox School’s undergraduate Accounting degree will need up to 3 (three) additional credits in accounting or finance courses to earn the required 36 credit hours.