All about the Common Proficiency Test (CPT)
The Common Proficiency Test (CPT) is the official entrance exam for the Chartered Accountancy Course. It is very rigorous and is designed to test the competency of students in subjects that are essential for pursuing a career in accounting, or even for business in general.
Taking this exam is recommended highly too if you are considering a career in business management or finance. It will equip you with the core fundamental background knowledge required to kick-start your career. The CPT subjects also form part of the core courses of any MBA program.
You are eligible to sit for CPT after you have appeared for the 12th standard exam. Complete eligibility requirements are available at the website of the Institute of Chartered Accountants of India (ICAI), at www.icai.org.
CPT at a glance (please visit the ICAI website for more details)
The next Common Proficiency Test is scheduled for June 16, 2013. The test is conducted in two sessions of two hours each:
- Session I comprising Fundamentals of Accounting and Mercantile Law for a total of 100 marks (Two Hours: 10:30 am to 12:30 pm).
- Session II comprising General Economics and Quantitative Aptitude for a total of 100 marks (Two Hours: 2:00 pm to 4:00 pm).
- Students are required to score 50% marks in the aggregate. There is no requirement of a minimum passing mark for any given subject.
- The marking system includes negative marking. A correct answer gets 1 mark, and a wrong answer deducts 0.25 mark.
- In December 2012, over 110,000 students appeared for the CPT exam. The pass percentage was approximately 27%. The success ratio should tell you that it's not exactly an easy exam. So, make sure that you take it very seriously indeed!