CPA Practice Exams

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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.

See the Top CPA Prep Courses

  1. Universal – Best Value CPA Prep Course
  2. Becker – Most Comprehensive CPA Prep Course

See our reviews & rankings of the best courses.

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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

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.

BEC Flashcards 157 BEC flashcards(Quizlet)
AUD Flashcards 78 AUD flashcards (Quizlet)
REG Flashcards260 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 Review Becker Universal Surgent Wiley Gleim Yaeger
Becker Logo Universal CPA Logo Surgent Logo Wiley Logo Gleim Logo Yaeger Logo





Best For Best Overall Best Value Best Combo of Price and Features - - -
One of Our Picks TG Recommended TG Recommended TG Recommended - - -
Pricing $3,429 $2,199 $1,295 $649 $2,399 $1,499 $1,499 $1,999 $1,399

CPA Questions – Formulas You Should Know

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 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.

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.

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.


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.

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.

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.

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