Aspirants who want to pursue their career in Chartered Accountancy are required to qualify in this first phase of CA course.
The entry level exam of Chartered Accountant course, popularly known as Common Proficiency Test, is conducted twice a year by the Institute of Chartered Accountants of India (ICAI). CPT mock test papers can demonstrate the exam pattern, but the actual exam is altogether a different experience. This article discusses the structure of examination, kind of questions asked and how to manage time while appearing for the examination.
The Common Proficiency Test is divided into 4 sections as per the old scheme. The question paper is bilingual and can be answered either in English or in Hindi. The first session includes two sections namely, Fundamentals of Accounting and Mercantile Law. This session is for two hours, i.e., from 10:30 am to 12.30 pm and carries 100 marks (60 marks for Fundamentals of Accounting and 40 marks for Mercantile Law). The second session also includes two papers namely, General Economics and Quantitative Aptitude. Two hours is the duration of this session which starts from 2:00 pm and ends at 4:00 pm. 100 marks are divided equally among both sections of General Economics and Quantitative Aptitude.
MCQs or multiple choice (objective type) questions will be asked in the examination. Four options will be provided for each question and candidates will be required to select the one which they find to be the right answer. The questions are designed to test the fundamental knowledge of each subject included in the foundation examination.
In Common Proficiency Test, each question carries one mark and the student is awarded the same for correctly answering the question In the case of wrong answer negative marking is applicable and 0.25 or 1/4th mark is deducted. To avoid falling into the trap of negative marking students should attempt only those questions for which they are sure about. Guesswork in a no-no when it comes to CPT exam. At least 50% marks in aggregate are required to qualify the examination.
It is obligatory for candidates to appear in both the sessions of the examination. If an applicant fails to appear in any one of the sessions, irrespective of the reason for being absent, he / she shall be deemed to be absent in both the sessions and his / her result shall be put on hold.
The thumb rule to increase the possibility of attempting more questions and scoring marks in any examination is utilising your time appropriately. To manage the time duration of paper (two hours for each session) candidates must begin with attempting familiar questions rather than wasting time on the ones with higher difficulty level. Once all known questions are attempted candidates must move to the questions which are time-consuming. To get a grip over time management skill, practising CPT mock test paperscan be beneficial.
The Foundation examination is all about testing the fundamental knowledge of the mercantile law, accounting, economics and quantitative aptitude. Do the comprehensive study of all the topics and practice as much as possible. Work hard and pass with flying colours.
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