CPT is popularly known as Common Proficiency Test and it is a centralized eligibility test which is conducted by the Institute of Chartered Accountants of India. The test is taken after 10+2 for admission into Chartered Accountant course. There are four areas which the test covers that are Fundamentals of accountants, mercantile law, General economics, and quantitative aptitude. The test
is basically divided into two sessions and each session consists of 100 objective questions. For instance, session 1 comprises of 100 questions; 60 questions in these examinations are from fundamentals of accounts and 40 of them are from mercantile law. Each correct answer carries 1 mark and for every wrong answer ¼ marks is deducted. Another session is of session ii which contains 100 objective questions. This session ii includes 50 from general economics and 50 from quantitative aptitude. The marking schemes of these are similar to each other in every aspect. The registration fee of CPT is Rs 6200/- and the fee should be paid through demand draft from any nationalized bank, in favor of the concerned name that is mentioned on the brochure. Students can even visit the official website for more information. The application form and the prospectus of CPT costs around Rs 100/-and it can be paid in cash.