Close this search box.

CPA Practice Exam

Answer Some Sample Questions with Our CPA Practice Exam
If you want additional questions, take more CPA practice tests.
This is just a sample quiz. If you want more free CPA practice tests, click here.

All CPA Practice Tests

Listed below are all of our CPA practice exams. This exam is very grueling and requires a ton of preparation.

Choose which subject you want to practice below and begin your studies.

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.

ResourceNotesAnswer Explanations?
AUD Sample TestAICPA sample test on the audit portion of the exam.No
FAR Sample TestAICPA practice exam on the financial accounting and reporting section.No
BEC Sample TestAICPA practice exam on the business environment and concepts section.No
REG Sample TestAICPA sample test on the regulation portion of the exam.No

Additional CPA Study Resources

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.

BEC Flashcards 157 BEC flashcards(Quizlet)
AUD Flashcards 78 AUD flashcards (Quizlet)
REG Flashcards260 REG flashcards(Quizlet)
FAR Flashcards 207 FAR flashcards(Quizlet)

CPA Formulas You Should Know

Here are some formulas that you should know that will come up when taking the CPA exam.

Profit MarginNet Income/Net Sales
Asset TurnoverNet Sales/Average Assets
Financial LeverageAssets/Equity
Return on AssetsNet Income/Average Assets
Return of EquityNet Income/Average Equity
Return on SalesNet Income/Sales
Capital TurnoverSales/Capital
Return on InvestmentIncome/Capital
Gross Margin RatioGross Margin/Net Sales
Operating Profit MarginOperating Profit/Net Sales
Ending InventoryBeginning Inventory+Purchases-Cost of Sales
Retained EarningsBeginning Retained Earnings+Net Income-Dividends
Contribution MarginSales-Variable Costs
Pension FormulaContributions+Expected Rate of Return-Service Costs-Interest Costs
Basic EPSEarnings 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
COGSBeginning Finished Goods+Cost of Goods-Ending Finished Goods
Inventory TurnoverCOGS/Average Inventory
Accounts Payable TurnoverCOGS/Average Accounts Payable
WACC(Cost of Equity x Weight of Equity)+ Cost of Debt x (1-Tax Rate) x Weight of Debt
Payback PeriodInitial Investment/Yearly Cash Flows
Market CapitalizationCommon Stock Price Per Share x Number of Common Stock Shares Outstanding
Dividend Payout RatioDividends/Net Income or Yearly Dividends Per Share/EPS
P/E RatioCommon Stock Price Per Share/EPS
Market to Book RatioMarket Value/Book Value
Book Value Per ShareCommon Stock Equity/Common Shares Outstanding
BreakevenFixed Costs/Contribution Margin

How Do I Practice for 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.

Image explaining how to study for the CPA exam

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.

Bottom Line – Start preparing with our free CPA exams above. If you require more help, consider investing in a prep course.

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, read our guide to the CPA exam.

Frequently Asked Questions

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 start by taking a practice exam above.

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.

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.

This is a personal decision and will vary for each CPA candidate.

Jake Houston
Jake Houston is our CPA expert. He is a Certified Public Accountant and has worked in Big 4 accounting.