Our CPA practice exam and questions will help you pass the challenging CPA exam. The CPA designation is one of the most prestigious certifications someone can get in the finance/business industries.
CPA candidates can expect to put in some long hours while preparing to take this exam. There are numerous requirements that must be met before candidates can sit for the exam.
Those who hold a CPA designation will be distinguished from their colleagues who only hold a business degree. CPA candidates should expect a pay bump and an increase in responsibilities after earning their CPA designation.
To begin your studies, review our free resources below. Everything from CPA practice exams to CPA exam questions. If you are looking for some more in-depth resources, check out a best CPA review course for reviews, discounts, and more.
Summary: Try a CPA practice test below. Our CPA exam questions include detailed answer explanations too.
CPA Practice Exam
Use our CPA practice exams below to get a better idea of what you will be tested on. The exams are split up into the 4 different sections, just like the actual exam.
These CPA test questions include detailed answer explanations, so be sure to pay special attention to those at the end of your exam.
FAR CPA Exam
Audit CPA Exam
BEC CPA Exam
REG CPA Exam
See the Top CPA Prep Courses
AICPA Practice Exam
Review the following AICPA released questions to see some additional CPA test questions. These do not have answer explanations, but are still very helpful.
| Resource | Notes | Answer Explanations? |
| AUD Sample Test | AICPA sample test on the audit portion of the exam. | No |
| FAR Sample Test | AICPA practice exam on the financial accounting and reporting section. | No |
| BEC Sample Test | AICPA practice exam on the business environment and concepts section. | No |
| REG Sample Test | AICPA sample test on the regulation portion of the exam. | No |
CPA Exam Questions – Flashcard Format
Use the additional CPA questions below for more help in preparing for you exam. The resources below are CPA sample questions, but in flashcard format.
| Resource | Notes |
| BEC Flashcards | 157 BEC flashcards(Quizlet) |
| AUD Flashcards | 78 AUD flashcards (Quizlet) |
| REG Flashcards | 260 REG flashcards(Quizlet) |
| FAR Flashcards | 207 FAR flashcards(Quizlet) |
CPA Review Courses
The below courses were ranked and reviewed by our expert team. Learn more about each course with our in-depth CPA course reviews.
CPA Questions – Formulas You Should Know
| Name | Formula |
| Profit Margin | Net Income/Net Sales |
| Asset Turnover | Net Sales/Average Assets |
| Financial Leverage | Assets/Equity |
| Return on Assets | Net Income/Average Assets |
| Return of Equity | Net Income/Average Equity |
| Return on Sales | Net Income/Sales |
| Capital Turnover | Sales/Capital |
| Return on Investment | Income/Capital |
| Gross Margin Ratio | Gross Margin/Net Sales |
| Operating Profit Margin | Operating Profit/Net Sales |
| Ending Inventory | Beginning Inventory+Purchases-Cost of Sales |
| Retained Earnings | Beginning Retained Earnings+Net Income-Dividends |
| Contribution Margin | Sales-Variable Costs |
| Pension Formula | Contributions+Expected Rate of Return-Service Costs-Interest Costs |
| Basic EPS | Earnings Per Common Share/Weighted Average Common Stock Shares Outstanding |
| Times Interest Earned (TIE) | EBIT/Interest Payments |
| Operating Leverage | % Change EBIT / % Change Sales |
| Quick Ratio | (Current Assets-Inventory)/Current Liabilities |
| COGS | Beginning Finished Goods+Cost of Goods-Ending Finished Goods |
| Inventory Turnover | COGS/Average Inventory |
| Accounts Payable Turnover | COGS/Average Accounts Payable |
| WACC | (Cost of Equity x Weight of Equity)+ Cost of Debt x (1-Tax Rate) x Weight of Debt |
| Payback Period | Initial Investment/Yearly Cash Flows |
| Market Capitalization | Common Stock Price Per Share x Number of Common Stock Shares Outstanding |
| Dividend Payout Ratio | Dividends/Net Income or Yearly Dividends Per Share/EPS |
| P/E Ratio | Common Stock Price Per Share/EPS |
| Market to Book Ratio | Market Value/Book Value |
| Book Value Per Share | Common Stock Equity/Common Shares Outstanding |
| Breakeven | Fixed Costs/Contribution Margin |
How Do I Practice To Take the CPA Exam?
With CPA pass rates hovering around 50%, students should utilize all possible study resources when preparing for this exam. Taking the CPA exam will require a ton of time and commitment. One way to save some time and ensure you are studying the correct concepts is by using a prep course.
A prep course will help save you a ton of time by giving you all the information and tools you need, in one, easy-to-access place. A lot of these courses also include study schedules and other useful tools to improve your studying experience.
You can check out our reviews of the best CPA prep courses for more information on the best fit for you.
Prep courses will cover all materials that will be tested on the exam. As well as covering all materials, they will also be continuously updated to reflect the most current information. Think of a CPA review course as an investment – those who earn their CPA designation should expect a pay bump.
Some companies may even pay for some of the costs associated with CPA review courses.
Benefits of CPA Review Courses
- Study Schedules – Most CPA review courses will offer personalized study schedules for students. These schedules will help keep students on track and meet their study goals.
- Updated Information – CPA review courses will be continuously updated and provide the most current information students should know before heading into their exam.
- Comparable to Actual Test – Top CPA review courses will offer practice exams that simulate the actual exam (both in content and user interface). This is a great way to prepare for the CPA exam.
- Diagnostics – CPA review courses are starting to use advanced analytics and diagnostics to help students identify which areas they need to study and review the most. These advanced features will save students tons of time by studying more efficiently.
Bottom Line – If your career is riding on your success on the CPA exam and you have the budget, a top CPA review course is a great option.
Sections of the CPA
The exam is comprised of 4 different sections. Each section takes 4 hours to complete. You do NOT have to take all 4 sections at once. Most individuals will space them out. You will need to pass all 4 sections within an 18-month period.
The 4 section on the CPA exam include:
- Auditing and Attestation (AUD)
- Financial Accounting and Reporting (FAR)
- Regulation (REG)
- Business Environment and Concepts (BEC)
For more information on the exam or the individual sections, visit our complete guide to the CPA exam.
CPA FAQs
Is the CPA exam actually hard?
The CPA exam is considered one of the hardest professional exams to pass.
According to the AICPA, financial accounting and reporting had the lowest passing rate of the 4 CPA exam sections. Financial accounting and reporting had a passing rate of 46.37%.
The next hardest section was audit and attestation with a passing rate of 47.97%. Candidates concerned about passing the CPA exam should check out our review of the best CPA Review courses.
What kind of questions are on the CPA exam?
The CPA exam has 3 different kinds of questions – multiple choice, task-based simulations, and written communication tasks.
The multiple-choice questions will have 4 possible answers. The task-based simulations will be based on “real-world” problems and candidates will have to type in their answers. The written communication tasks will require candidates to write their answers and their communication skills will be tested.
Can you self-study for the CPA?
Candidates can absolutely self-study for the CPA exam. With that being said, candidates may save a lot of time by investing in a CPA review course.
The best CPA Review courses will have all the updated material in one, easy to find location, and will use proven concepts to help students prepare for the CPA exam.
Final Thoughts on CPA Test Questions
The CPA sample questions included above will help you get a better understanding of what is actually tested on the exam.
Be sure to use the CPA practice exams above to get an idea of where you should be spending your time studying.
