How many sections are on the CPA exam?

The CPA exam has 4 required sections: 3 core sections (FAR — Financial Accounting, AUD — Auditing, REG — Regulation) and 1 discipline section of your choice (BAR, ISC, or TCP).

What is the passing score for the CPA exam?

A score of 75 (on a scale of 0–99) is required to pass each CPA exam section.

How long do I have to pass all CPA exam sections?

Candidates have 30 months from the date they pass their first section to pass all remaining sections.

How many questions are in each CPA exam section?

Each section contains approximately 72–78 multiple choice questions plus task-based simulations (TBS). The exact number varies by section.

CPA FAR Practice Exam 2 — Free 50-Question CPA Practice Test

Q01Madison Inc. reported the following for Year 1: - Net income: $200,000 - Depreciation expense: $80,000 - ...Hard

Q02Apex Corp. owns a manufacturing facility with the following data at year-end: - Net carrying amount (book value):...Hard

Q03On January 1, Year 1, Corbin Co. enters a 5-year lease for equipment. Annual lease payments of $100,000 are due at th...Hard

Q04Riverview City received a $300,000 grant from the state government restricted exclusively for road repair and mainten...Hard

Q05Summit Corp. has the following book-to-tax differences at December 31, Year 1 (enacted tax rate: 25%): - Equipmen...Hard

Q06Fenwick Co. uses FIFO inventory costing and reports the following data for three inventory items at year-end: <br...Hard

Q07Dalton Corp. reports net income of $1,200,000 for Year 1. It has 400,000 weighted average common shares outstanding. ...Hard

Q08On January 1, Year 1, Phoenix Corp. purchased a building for $800,000. The building has a useful life of 40 years wit...Hard

Q09Riverside NFP received the following contributions during Year 1: - $100,000 cash contribution with no donor rest...Hard

Q10Titan Corp. has the following account balances before year-end adjustments: - Accounts Receivable: $450,000 -...Hard

Q11On January 1, Year 1, Cascade Corp. issued $1,000,000 of 8% bonds at 95, with interest payable semiannually on June 3...Hard

Q12Metro Corp. enters into a contract to sell equipment to a customer for $500,000. The contract includes a 2-year servi...Hard

Q13Quantum Corp. has the following financial data for Year 1: - Net income: $240,000 - Total assets (beginning):...Hard

Q14Sterling Corp. owns a 30% interest in Alliance Co. and accounts for this investment using the equity method. During Y...Hard

Q15Harbor City's General Fund had the following transactions during the fiscal year: - Property tax revenue (measura...Hard

Q16Pinnacle Corp. discovered in Year 2 that it had failed to record depreciation expense of $45,000 in Year 1. The error...Hard

Q17Westfield Corp. has a contingent liability related to a lawsuit. The company's legal counsel believes there is a 60% ...Hard

Q18Meridian Corp. purchased equipment on January 1, Year 1, for $600,000. The equipment has a 10-year useful life and $6...Hard

Q19Coastal Corp. has the following data for its inventory at year-end: Product A: 100 units, Cost $50/unit, NRV...Hard

Q20Phoenix Corp. leases office space under a 4-year lease with annual payments of $80,000 due at the beginning of each y...Hard

Q21Sunrise Corp. has 200,000 shares of $10 par common stock outstanding. The company declares a 10% stock dividend when ...Hard

Q22Atlantic Corp. has a defined benefit pension plan. At the beginning of Year 1: - Projected benefit obligation (PB...Hard

Q23Glacier Corp. purchased a trademark for $480,000 on January 1, Year 1. The trademark has a legal life of 10 years and...Hard

Q24Harmony NFP received the following during Year 1: - Unconditional pledge of $100,000 due in Year 3, restricted fo...Hard

Q25Vertex Corp. has the following current assets and liabilities at year-end: - Cash: $85,000 - Accounts receiva...Hard

Q26Beacon Corp. has available-for-sale debt securities with the following data at year-end: - Amortized cost: $450,0...Hard

Q27Riverside Corp. enters into a contract to construct a building for $3,000,000. The contract is expected to take 3 yea...Hard

Q28Mountain Corp. has the following information for its defined benefit pension plan at December 31, Year 1: - Fair ...Hard

Q29Oakwood Corp. factored $500,000 of accounts receivable to Finance Co. under the following terms: - Finance Co. ad...Hard

Q30Sunset Corp. has the following information regarding its inventory: - Beginning inventory (FIFO): $180,000 - ...Hard

Q31Pacific Corp. has a debt covenant that requires maintaining a debt-to-equity ratio of no more than 2.0:1. At year-end...Hard

Q32Horizon Corp. issued convertible bonds with a face value of $1,000,000. The bonds were issued at par and are converti...Hard

Q33Valley Corp. discovered the following subsequent events after year-end but before the financial statements were issue...Hard

Q34Crystal Corp. has trading securities with the following information at year-end: - Security A: Cost $80,000, Fair...Hard

Q35Granite Corp. leases equipment under a 6-year lease with the following terms: - Annual lease payments: $50,000 (p...Hard

Q36Emerald Corp. purchased equipment for $240,000 on January 1, Year 1. The equipment has a 5-year useful life with no s...Hard

Q37Lakeside City's General Fund reports the following for the fiscal year: - Property tax revenue: $5,000,000 - ...Hard

Q38Redwood Corp. has the following data for calculating basic and diluted EPS: - Net income: $600,000 - Weighted...Hard

Q39Silverstone Corp. has a machine with the following information at year-end: - Original cost: $500,000 - Accum...Hard

Q40Northstar Corp. enters into a 3-year service contract with a customer for $450,000, payable as follows: - Year 1:...Hard

Q41Cascade Corp. has the following information for its cash and cash equivalents: - Cash in checking account: $125,0...Hard

Q42Harmony NFP has the following net assets at year-end: - Net assets without donor restrictions: $800,000 - Net...Hard

Q43Pinnacle Corp. has the following information for its defined benefit pension plan: - Service cost: $180,000 -...Hard

Q44Riverside Corp. has the following inventory information using the FIFO method: - Beginning inventory: 1,000 units...Hard

Q45Thunder Corp. has the following information for its bank reconciliation at month-end: - Balance per bank statemen...Hard

Q46Coastal Corp. enters into a contract to deliver 1,000 widgets over 12 months. The contract price is $50,000. At the e...Hard

Q47Granite Corp. has the following current assets and current liabilities: - Accounts receivable: $180,000 - Inv...Hard

Q48Sunset Corp. purchased a patent for $360,000 on January 1, Year 1. The patent has a legal life of 20 years and an est...Hard

Q49Valley Corp. has a defined benefit pension plan with the following changes during the year: - Projected benefit o...Hard

Q50Horizon Corp. has the following information for calculating its debt-to-equity ratio: - Current liabilities: $400...Hard

CPA FAR Practice Exam 2

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