CPT is the entrance level examination to the course of chartered accontancy. Earlier, this exam was a subjective type called PE1. This is the first level of the Chartered Accontancy examinations. The minimum eligiblity for CPT is 12th Standard. A person can register for CA CPT with the Institute of Common Proficiency Course (CPC) after doing the 10th Standard.
It is an objective type question paper with 200 question papers. The tested subjects are accounting for 60 marks, mercantile laws for 40 marks, economics for 50 marks, and quantitative aptitude for 50 marks. The minimum pass percentage is 30 in each section and a minimum of 50 percentage in the total. In CPT, every incorrect answer cost a negative 0.25 marks.
Both online and offline modes of examination are conducted. While the online exam dates differ, the offline mode dates are fixed for second week of June and December. Further, graduates, post-graduates are not required to take CPT and can directly get admitted for the IPCC.
The CA CPT registration fees is ₹6100 for Indian Nationals.
The test is for a duration of 4 hours with two 2-hour sessions with an hour or two of break in the middle. Accounting and merchantile law are in the session one, while economics and quantitative aptitude is in the session two. The exam is from 10 am to 4 pm, usually.
One of the issues that students face with the CA CPT is that the standard material provided by the ICAI is of a high-brow language that most of them fail to grasp the concepts clearly. But partly, this is because of the subject’s nature itself. While dealing with legalities, there can never be a simple enough way to put things without diluting or overseeing certain issues. Hence, the laws are written in an elaborate manner with several terms in the same sentence and this leads to students picking notes/coaching material over the standard ICAI material.
Whether or not one studies from the standard material, a student cannot be completely prepared without solving the ICAI test material. It is recommended that a student at least solve questions that are standard from the ICAI.