The Institute of Chartered Accountants of India (ICAI) conducts the Common Proficiency Test, which is commonly known as CPT exam. The exam is conducted twice every year. An entry level exam, CPT acts as a gateway to the profession of Chartered Accountancy. The exam is taken by thousands of students every year, and is quite a challenging affair. So, from CPT online test preparation to right revision methods, here are some tips to help you clear the exam in the first attempt.
- Online Aids
When you start preparing for CPT, don’t be hesitant to turn to the internet for help. There are many online assessment portals for students that can help you prepare for the exam. Other than that, there are various websites that provide study material for CPT test preparation online. You can also look at various forums that provide sample papers as well as previous year’s solved question paper.
2. Prioritize Accounts
Accounting is a subject that can help you fetch good marks in CPT. If you have a commerce background, you will probably be acquainted with the fundamentals of the subject. To prepare for this subject, try to solve as many problems as you can that cover from all the chapters. If you don’t have a background in commerce, you will need to spend some time studying the theoretical parts and understand the concepts of accounting, including the accounting principles of “debit” and “credit” and the formats applicable for different types of accounts.
3. Mercantile Law
The next subject you need to focus on, if you plan to secure good marks, is Mercantile Law. For this, you will need to learn the provisions of the Contract Act, Sale of Goods Act, Partnership Acts, Law of Torts and Negotiable Instrument Act. Ensure that you clearly understand legal terminologies and their implications. You should also try to remember dates of landmark judgements made in regards to various acts.
4. Reading Method
Read the first few pages while you slowly try to comprehend the topic. After you complete a chapter this way, try attempting the questions in the book and cross-check with the answers given. You can also go for CPT online test preparations which help you understand difficult topics.
5. Revision Method
While revising the subjects, focus on those areas where you think you still need improvement. Keep revising until you are fully versed with a particular subject. To test your exam preparations, take help of any one of the online assessment portals for students.
6. Quantitative Aptitude
If you are not good in maths, quantitative aptitude may seem difficult. So, while preparing for your CPT, concentrate on statistics. You can do this by conceptualizing the theory and by working out problems from averages, correlation and regression chapters. Also focus on differentiation, integration and theoretical distribution. While writing the exam, you may need to work out some problems to answer the MCQs. So, if you find any problems time-consuming, leave it for the last instead of wasting your time on it.
7. Don’t Attempt the Full Paper
Most students make the mistake of answering all the 100 questions asked in the CPT papers. You need to keep in mind that if you want to score a minimum of 30 per cent marks in all subjects, you need not answer all the questions. A wrong answer will cost you 0.25 on the whole, and cumulatively, wrong answers can pull down your score.
While preparing for CPT, keep a positive frame of mind and eat healthy food. Just ensure that you cover each subject atleast once.