The Hindu Business Line : Overview of Common Proficiency Test

The Institute of Chartered Accountants of India (ICAI) has obtained the much-awaited government approval for the new CA curriculum. The Common Proficiency Test (CPT) scheme was launched by the Institute on September 13. Option has been given to existing PE-I students to switchover to the CPT course. Students can enrol and submit examination application forms up to October 9 so that they can appear for the first CPT to be held on November 12, for which the results will be declared on December 1.

Students who have passed the PE-I or Foundation Examination and doing PE-II are entitled to join articleship training and continue their studies. Those who pass CPT can also enter into articleship training. Candidates who want more time to prepare for CPT can appear in February 2007, when the second CPT will be held.

The CPT will be a one-paper, objective-type test that will be held once in three months. The first session, on accountancy and mercantile law, will be between 9 a.m. and 11 a.m.

And the second session, on general economics and quantitative aptitude, will be between 12.30 p.m. and 2.30 p.m. The percentage required for passing is 50; there is negative marking of 0.25 per cent for every wrong answer.

The Board of Studies has come out with a study package for students registering for CPT. The package contains four study materials (one for each subject) and a compact disc.

In sync with the new examination system, the focus of the material is on objective-type questions. The accompanying Table gives subject-wise break-up of questions. The CD has 100 self-evaluation questions that cover all the subjects as a proportion of the marking pattern.

An analysis of the questions indicates greater emphasis on quantitative aptitude. This could be because of the nature of the subject and the availability of database. As for other subjects, the pattern thus far has been subjective and problem-oriented.

The study materials, this time around, have been well drafted and are conceptually clear. There are a number of illustrations in the study material on accounting and quantitative aptitude.

Student should, however, refer additional material for in-depth understanding of some of the topics, especially in mercantile law and economics.

As there is negative marking for every wrong answer, a student, in order to pass, should answer correctly 120 of the 200 questions.

It is up to the student to design an appropriate strategy in this regard. As regards the papers, it is hoped that the ICAI will maintain the identity of the questions.

This will enable a student have continuity of thinking during the exam. The time available for preparation for the first exam (effectively about 30 days) will be 360 hours, that is, at 12 hours of preparation a day.

On an average, the spread of hours per subject for effective preparation can be in the ratio 10:5:9:6 respectively. Students should realise that it is practice that will finally decide the outcome.

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