CA CPT June 2012 Question paper with Solutions

Solution of CA CPT Questions, exam which previously held on  17 June 2012.

To download the Question paper with solutions, Click here

CA CPT June Exam Eligibility 2013

Eligibility requirements to appear in CA CPT June 2013 :

I. A candidate shall be eligible to appear in Common Proficiency Test in June, 2013, if he / she has :

Either passed or appeared in the Senior Secondary Examination ( 10+2 examination ) conducted by an examining body constituted by law in India or an examination recognized by the Central Government as equivalent thereto and has complied with such requirements as may be specified by the Council from time to time. ( The list of examinations recognized as equivalent to Senior Secondary Examination )

* As per a recent decision of the Council of the ICAI, candidates with certain higher qualifications are also eligible to appear in the CPT.

ICAI Chartered Accountant Common Proficiency Test - CA CPT Entrance Exam 2013

Common Proficiency Test is an entry level examination for admission to the Chartered Accountancy Course. A 10th Passed student can register for CPT Course by filling in the prescribed registration form along with the requisite fee. A student who has passed higher qualifications than 10th class such as B.Com, M.Com, LL.B., ICWA, CS, MBA is also, in the first instance, to appear and pass CPT Examination to join the Chartered Accountancy Course.

CA CPT June Entrance Exam 2013

No.13-CA ( EXAM )/ CPT / June / 2013 : In pursuance of Regulation 22 of the Chartered Accountants Regulations, 1988, the Council of the Institute of Chartered Accountants of India is pleased to notify that the Common Proficiency Test ( Paper – Pencil Mode ) will be held on 16th June, 2013 ( Sunday ) in two sessions as below, at the following centres provided that sufficient number of candidates offer themselves to appear from each centre.

[ This Common Proficiency Test will be conducted as per provisions of Regulation 25 D ( 3 ) of the Chartered Accountants Regulations, 1988 and the syllabus as published in the pages 291 - 293 of the Journal ‘The Chartered Accountant’ August 2006 issue and pages 12 - 13 of Chartered Accountants Students' Newsletter August 2006 issue. ]

CA CPT June Entrance Exam Pattern 2013
It is an entry level test for Chartered Accountancy Course, which is held twice in a year in June and December. It is a test of four subjects i.e., Accounting, Mercantile Laws, General Economics and Quantitative Aptitude with an objective to test basic knowledge in these subject areas. This test is of 200 marks. This test is divided into two sessions of two hours each with a break in between. CPT is an objective type test with negative marking.
Subjects to be studied in CPT are as follows :
SESSION – 1 ( Two Sections – Two hours – 100 marks )

• Section A : Fundamentals of Accounting ( 60 marks )
• Section B : Mercantile Laws ( 40 marks )

SESSION – II ( Two Sections – Two hours  – 100 marks )

• Section C : General Economics ( 50 marks )
• Section D : Quantitative Aptitude ( 50 marks )

To appear in the Common Proficiency Test ( CPT ) students have to fill separate examination application form as per the Notification / Announcement issued by the Examination Division of the Institute in this regard.


CA CPT June 2013 Exam Date

16th June, 2013 ( Sunday )	First Session ( i.e. Morning Session )	10.30 AM to 12.30 PM ( IST ) Section - A Fundamentals of Accounting Section - B Mercantile Laws
	Second Session ( i.e. Afternoon Session )	2.00 PM to 4.00 PM ( IST ) Section - C General Economics Section - D Quantitative Aptitude

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CPT Mercantile law free training

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A closer look at the CPT

Test Eligibility

• You should have passed or appeared for the Class12 Examination.
• You should have registered for the CPT Course at least 2 months prior to the first day of the month in which the CPT is scheduled to be held.

Areas Tested
The CPT will test you in 4 areas, namely, Fundamentals of Accounting, Mercantile Law, General Economics, and Quantitative Aptitude. The subjects are at the foundation level.

Test Format
The test involves 2 sessions of 2 hours each, and each session contains 2 papers of 100 marks each.
Session 1 (2 Sections. 2 hours. 100 marks)
Section A: Fundamentals of Accounting (60 marks) Section B: Mercantile Law (40 marks)
Session 2 ((2 Sections. 2 hours.100 marks)
Section C: General Economics (50 marks) Section D: Quantitative Aptitude (50 marks)

Test Passing Score
A student would have to secure 50% marks, i.e., a total of 100 marks to pass the CPT.

Test Marks
Every correct answer would be awarded 1 mark and 0.25 marks would be deducted for every incorrect answer.

Test Months
The test is conducted twice a year, in the months of June and December.

Test Results
Results are usually announced within a month of the test.

Test Syllabus (abridged)

Fundamentals of Accounting
Accounting Concepts, Principles and Conventions
Accounting Process - Journal Entries, Ledgers, Trail Balance
Subsidiary Books - Cash Book and Other Books
Bank Reconciliation Statement
Capital and Revenue Expenditures and Receipts
Contingent Assets and Contingent Liabilities
Trail Balance, Errors and Their Rectification
Valuation of Inventory
Depreciations, Reserves and Provisions
Final Accounts of Non-manufacturing Entities
Final Accounts of Manufacturing Entities
Accounting for Consignments
Accounting for Joint Venture
Accounting For Bills of Exchange and Promissory Notes
Accounting for Sale of Goods on Approval/Sale/Return Basis
Accounting For Partnership Firms - Admission/Death/Retirement of a Partner
Accounting For Share Capital and Issue of Shares
Redemption of Preference Shares
Issue of Debentures

General Economics
Introduction to Microeconomics
Law of Demand and Supply
Theory of Consumer Behaviour
Theory of Production and Theory of Cost
Perfect Competition
Imperfect Competition
Nature of Indian Economy
Economic Reforms in India
National Income in India
Tax Structure
Budget and Fiscal Deficit in India, Balance of Payments, External Debt
Money and Banking

Mercantile Law
Nature of Contracts
Essential Elements of a Valid Contract
Performance of Contract
Breach of Contract & Contingent and Quasi-Contracts
Formation of the Contract of Sale
Conditions & Warranties
Transfer of Ownership & Delivery of Goods
Unpaid Seller
General Nature of Partnership, Relation of Partners
Registration and Dissolution of a Firm

Mathematics & Statistics
Ratio and Proportion, Indices and Logarithms
Equations
Inequalities
Simple and Compound Interest, including Annuity
Basic Concepts of Permutations and Combinations
Sequences and Series - Arithmetic and Geometric Progression
Sets, Functions and Relations
Limits and Continuity
Basic Concepts of Differential and Integral Calculus
Statistical Description of Data
Measures of Central Tendency and Dispersion
Correlation and Regression
Probability and Expected Value by Mathematical Expectation
Theoretical Distribution
Sampling Theory
Index Numbers

Transition Scheme for Professional Education (Course – I) Students

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In case a student of Professional Education (Course-I) has not exhausted 5 consecutive attempts he can switch over to Common Proficiency Test (CPT) by making a payment of Rs.100. Study material will be supplied free of cost to such a student.

However, in case such a student has exhausted all the available attempts he/she will be required to be registered afresh by making a payment of Rs.3,500.

Common Proficiency Test - Eligibility

Eligibility

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A student who has passed the Class 10 examination conducted by an examining body constituted by law in India or (an examination recognized by the Central Government as equivalent thereto ) may register for Common Proficiency Test.

A registered student may appear in Common Proficiency Test after he has appeared in the Senior Secondary Examination (10+2 examination) conducted by an examining body constituted by law in India or an examination recognised by the Central Government as equivalent thereto and has complied with such requirements as may be specified by the Council from time to time.

A student who has got himself registered for Common Proficiency Test 60 days prior to the first day of the month in which CPT examination is to be held can appear in the examination i.e. on or before 1^st April and 1^st October for appearing in CPT examination to be held in June and December respectively. Common Proficiency Test examinations are held in June & December every year.

About the Course - CPT

Common Proficiency Test is an entry level test for Chartered Accountancy Course. It is a test of four subjects i.e., Accounting, Mercantile Laws, General Economics and Quantitative Aptitude. This test is of 200 marks. This test is divided into two sessions of two hours each with a break in between. CPT is an objective type test with negative marking. Subjects to be studied

SESSION – I (Two Sections– Two hours – 100 Marks)

• Section A: Fundamentals of Accounting ( 60 Marks )
• Section B: Mercantile Laws ( 40 Marks )

SESSION – II (Two Sections– Two hours – 100 Marks)

• Section C: General Economics ( 50 Marks )
• Section D: Quantitative Aptitude ( 50 Marks )

The Board of Studies has prepared comprehensive study materials covering all four subjects.

what is the process of Common Proficiency Test (CPT) ?

How to Join CPT?

A student who has passed the class 10 examination conducted by an examining body constituted by law in India or an examination recognised by the Central Government as equivalent thereto can join the CPT after registration.

The Fees for Registration

The registration fees are Rs. 1,500, which is to be paid along with a filled in application form.

Registration for CPT

A student should register with the Board of Studies by submitting the prescribed form, which can be obtained from offices of the Institute. The form can also be downloaded from the website http://www.icai.org.

The subjects to be studied

Session-I (Two Sections-Two hours-100 Marks)

* Section A: Fundamentals of Accounting (60 Marks)

* Section B: Mercantile Law (40 Marks)

Session-II (Two Sections-Two hours - 100 Marks)

* Section C: General Economics (50 Marks)

* Section D: Quantitative Aptitude (50 Marks)

Check out Common Proficiency Test (CPT) Preparation Book containing objective Questions as per latest Syllabus

• CA CPT Accountancy Sample questions
• General Economics
• Mercantile Law Sample questions

The Eligibility for Appearing in the CPT

A registered student may appear in CPT after appearing in the Senior Secondary Examination (10+2 examination) conducted by an examining body constituted by law in India or an examination recognized by the Central Government as equivalent thereto.

Application for Appearing in the Examination

A student has to apply in the prescribed form along with the examination fee of Rs. 300 within the stipulated period. Examination forms will be available at different offices and branches of the Institute.

The Qualifying Marks

The qualifying marks are 50%. A student has to keep in mind that CPT is an objective type test with negative marking as will be indicated in the question paper for selecting the wrong option.

The Next Step after Passing CPT

After passing CPT and 10+2 examination, a student may join the Chartered Accountancy Course which is divided into following two levels and undergo practical training for 3 ½ years: