Computerized CPA Exam Questions

• Can I take the exam outside of Pennsylvania?
• When can I take the exam?
• What education requirements do I need to apply for the exam and to become a licensed CPA in Pennsylvania?
• To meet the 150-hour requirement, can the credits be in undergraduate study?
• When can I apply to sit for the exam?
• How long do I have to pass all four parts?
• What is a passing score?
• Who distributes the exam scores?
• What is the work experience requirement before receiving a CPA license?
• What kind of work experience is required?
• How long do I have to complete my work experience requirement?
• What happens if I begin taking parts of the CPA Exam before Jan. 1, 2012, but do not pass all four sections before the new law becomes effective?
• How can a foreign transcript or degree be evaluated?
  

Q: Can I take the exam outside of Pennsylvania?
A: Yes, but there are additional charges for taking the exam outside of your jurisdiction.

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Q: When can I take the exam?
A: Testing is available the first two months of every quarter: January & February; April & May; July & August; October & November. It is NOT available in March, June, September, or December.

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Q: What education requirements do I need to apply for the exam and to become a licensed CPA in Pennsylvania?
A: Prior to Jan. 1, 2012 – Candidates must have graduated with a bachelor’s or master’s degree and completed at least 24 semester-credits in accounting subjects to be licensed. These subjects include accounting and auditing, business law, finance, or tax subjects acceptable to the Pennsylvania State Board of Accountancy (SBOA). Candidates who opt to complete 150 semester-credits must meet the 24 semester-credits in accounting subjects noted above, plus an additional 12 semester-credits in accounting, auditing, and tax subjects acceptable to the SBOA.

Effective Jan. 1, 2012 – All candidates seeking the CPA designation will have to complete 150 hours of college education, including 36 hours in accounting, auditing, business law, finance, or tax subjects.

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Q: To meet the 150-hour requirement, can the credits be in undergraduate study?
A: Prior to Jan. 1, 2012 – Obtaining the additional credits can be accomplished through undergraduate, graduate, or a combination of both levels of study.

Effective Jan. 1, 2012 – Requirement remains the same.

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Q: When can I apply to sit for the exam?
A: You can apply and sit for the exam once you have completed 120 hours of education from an accredited college or university.

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Q: How long do I have to pass all four parts?
A: You have 18 months to pass all four parts once you pass the first section.

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Q: What is a passing score?
A: A passing score is 75. The score does NOT represent percent correct.

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Q: Who distributes the exam scores?
A: The Pennsylvania State Board of Accountancy distributes the scores.

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Q: What is the work experience requirement before receiving a CPA license?
A: Prior to Jan. 1, 2012 – Candidates have two options. If they have a bachelor’s degree, they need two years (3,200 hours) of public accounting experience including 800 hours at attest activity. If they have a master’s degree, they need one year (1,600 hours) of public accounting experience including 400 hours at attest activity.

Effective Jan. 1, 2012 – All candidates will be required to have one year (1,600 hours) of public accounting experience, including 400 hours at attest activity.

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Q: What kind of work experience is required?
A: Work experience must be in public accounting, as an internal auditor, or an auditor with a unit of federal, state, or local government.

All positions must be supervised by an individual who is currently licensed to practice public accounting as a CPA in Pennsylvania or another state.

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Q: How long do I have to complete my work experience requirement?
A: Prior to Jan. 1, 2012 – Individuals taking the CPA Exam for the first time before Dec. 31, 2011, must complete their work experience within 10 years (120 months) of application for the CPA certificate.

Effective Jan. 1, 2012 – All CPA candidates must have completed their one year work experience requirement within five years (60 months) of the date of application.

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Q: What happens if I begin taking parts of the CPA Exam before Jan. 1, 2012, but do not pass all four sections before the new law becomes effective?
A: The 150-hour education requirement would not apply to any individual who has successfully completed one or more parts of the CPA Exam prior to Jan. 1, 2012, if they pass all four parts in the 18-month eligibility window. In this instance, candidates could be licensed with the 120-hour education requirement and two years public accounting experience.

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Q: How can a foreign transcript or degree be evaluated?
A: 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:

Educational Credential Evaluators Inc. (414) 289-3412, www.ece.org Foreign Academic Credentials Service Inc. (618) 656-5291, www.facsusa.com
Josef Silny & Associates Inc. (305) 273-1616, www.jsilny.com

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All information supplied by the American Institute of CPAs (AICPA). Additional Information can be found at www.cpa-exam.org.