Top preparation tips for CPT

Experts in the field and the rank holders reveal that with little hard work and sincere preparation, it is possible to clear this level exam without taking help from any coaching classes. Let us discuss the CPT examination preparation tips to clear the exam easily without any hassle.

The Common Proficiency Test (CPT) is the entry-level examination for the Chartered Accountant Certification. The difficulty level of the examination and the probabilities of clearing the test in the first attempt has been hyped considerably. In reality, the CPT exam is not as tough as it is projected. It is just an entry-level examination of the Chartered Accountancy (CA) course. Also, the exam is based on the syllabus of Class XI and XII CBSE and ICSE board syllabus. 

Subject-wise Preparation Tips

The CPT examination for CA revolves around four major subjects namely Accounts, Economics, Mercantile Law and Quantitative Aptitude. Each of these subjects is distinct in their ways and demand specific and targeted approach to excel in them. Let us discuss how to handle these subjects effectively for good marks in the examination.

Accounts

Accounting is one of the most important subjects that stand as a mark fetcher in the CA CPT examination. Those students who are from the commerce background should have trained themselves already with the fundamentals of these subjects. While preparing for the CPT exam, it is mandatory to solve as many accounts problems as possible from each of its chapters.

For those students who are from a different background other than commerce, it is mandatory to study the theory part from the basics to acquaint with the fundamental concepts of debit and credit. It is also important to master all the accounts formats that apply to different accounts such as cashbook, trial balance, journals, partnership accounts, company accounts, and proprietary accounts, etc.

Economics

Economics revolves around theory and is an easier subject with ample scope to fetch the maximum marks in the final examination paper. Students who have made the theory clear can fetch more marks in the final examination. The subject deals with the study of national economics and the government policies that affect the economic performance of the country.

Chapters such as economic policies, the business cycle, savings, investment, productivity, economic consumption, etc., are easy to study and will not take much time in preparing its important topics. One important study tip while preparing the theory subjects is that students have to have the habit of note-taking, to revise only those notes later and not read the entire chapter all over again.

Mercantile Law

The mercantile law paper focuses on the different acts and contracts in Chartered Accountancy. Next, to accounts, this is one of the most important paper with ample scope for fetching good marks in the final examination. The students have to learn the various provisions of the Sale of Goods Act, Partnership Act, Negotiable Instrument Act, Contract Act, Law of Torts, etc. It is important to learn the legal terminologies and their implications with relevance to the various acts of the mercantile law. The paper does not include heavy calculations but through the learning of the different laws.

Quantitative Aptitude

This subject can be a nightmare for those aspirants who are not very good at maths. The subject is a little difficult and demands proficiency in calculations and formulas. Aspirants have to approach the subject by conceptualizing the theory and constantly solve problems from different topics in the syllabus. Some of the important topics that are covered under quantitative aptitude are differentiation, averages, regression, correlation, integration, theoretical distribution, etc.

As this part of the paper demands a lot of working out, aspirants can keep this portion to solve at the end. It is also time consuming, difficult and needs more concentration. Keep it at the end and solve all other parts of the paper before attempting math problems.

General Preparation Tips for CPT examinations

Starting early is one of the best tips to clear the Common proficiency test for CA. It is the hard work and perseverance of the candidates that help them to achieve good marks in the final examination. The exam is not very difficult, but it demands a lot of practice and extensive study period. It is important to start early and well ahead of the examination to allow time for thorough preparation and several rounds of revision.

Effective preparation and performance at the examination depend on efficient time allocation between the four papers of the CPT syllabus. It is not wise to spend all the time in any one particular paper as it is important to have 30% marks in the individual papers and 40% aggregate in the overall examination. Failing to score the minimum aggregate marks in any of the paper will result in a fail result in the final examinations.

It is important to devise an effective time table to allocate time for the different subjects and it is important to take frequent breaks to recharge the memory cells of the brain. It is important to take small and frequent breaks every two hours’ in-between rest periods. The most effective study strategy is clubbing one theory subject with a practical one to avoid boredom while preparation.

Candidates have to be alert and smart on the day of the examination and be a shift in answering all the questions within the least time frame possible. The CPT examination follows an objective question paper, where guesswork will favour no luck. Hard work and sincere preparation are the only short cuts for success.