The CPT or Common Proficiency Test is the first level of Chartered Accountancy examinations in India.
A person can register for CPT after completing Grade 10 and take the exam after completing High School (Grade 12)
It is an objective type examination and consists of 200 multiple choice questions. CPT covers four basic subjects divided into two sections viz.
1.Accounting (60 Marks) + Mercantile Laws (40 Marks)
2.Economics (50 Marks) + Quantitative Aptitude (50 Marks).
Every incorrect answer on the CPT exam carries a 0.25 negative mark. A candidate is required to secure a minimum of 30 per cent marks in each Section and a minimum of 50 per cent marks in aggregate, in all the four Sections to pass the Common Proficiency Test
CPT exams are held in June and December
But with effect from 3rd Aug 2012, CPT is exempted for the Graduates, Post Graduates and the students having equivalent degrees. Commerce graduates with 55% and other graduates with 60% can take direct admission for IPCC.