How Many Questions on the FAR CPA Exam 2024?
The Certified Public Accountant (CPA) exam is a rigorous and comprehensive assessment that tests candidates’ knowledge and skills in various accounting and auditing areas. One of the most frequently asked questions among aspiring CPAs is: “How many questions are on the FAR CPA exam 2024?” Understanding the number of questions and their format can help candidates prepare effectively for this crucial exam.
The FAR (Financial Accounting and Reporting) section of the CPA exam covers financial accounting, reporting, and auditing standards. In 2024, the FAR section will consist of 66 multiple-choice questions (MCQs) and 12 task-based simulation (TBS) questions, totaling 78 questions. The MCQs are designed to test candidates’ knowledge of the subject matter, while the TBS questions require candidates to apply their knowledge to real-world scenarios.
The 66 MCQs are divided into two parts: the first part contains 40 questions, and the second part contains 26 questions. The first part covers a broad range of topics, including financial statement preparation, analysis, and presentation, as well as accounting for various transactions and events. The second part focuses on specific areas such as financial statement auditing, reporting and disclosures, and professional responsibilities.
The 12 TBS questions are designed to test candidates’ ability to apply their knowledge in a practical setting. These questions require candidates to analyze a set of financial statements, transactions, or audit evidence and provide appropriate conclusions or recommendations. The TBS questions are typically more challenging than the MCQs, as they require candidates to demonstrate their ability to think critically and solve complex problems.
To prepare for the FAR section of the CPA exam, candidates should focus on understanding the underlying principles and concepts of financial accounting and reporting. They should also practice solving MCQs and TBS questions to become familiar with the exam format and the types of questions they may encounter. Using study materials, online resources, and practice exams can help candidates identify their strengths and weaknesses and develop a targeted study plan.
In conclusion, the FAR CPA exam 2024 will consist of 78 questions, including 66 MCQs and 12 TBS questions. Understanding the number of questions and their format is crucial for candidates to prepare effectively for this challenging exam. By focusing on their strengths and weaknesses, utilizing study materials, and practicing regularly, candidates can increase their chances of passing the FAR section and achieving their CPA certification.
