REG Exam Format - CPA
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gavkaREG Exam Format - CPA
Uploaded by
gavkaREG Exam Format
The REG (Regulation) section of the CPA exam tests your knowledge on business law,
business ethics, and federal taxation. The REG exam is comprised of 3 testlets consisting of
24 multiple choice questions each. This amounts to a total of 72 MCQ which account for
60% of your grade.
The remaining 40% comes from 6 Task-Based Simulations, otherwise known as the SIMS,
which require you to generate answers on your own rather than choose from a list of
possible choices. You are given 3 hours to complete the exam need to get an overall score
of 75% or higher to pass.
Business Law
17% to 21% of the exam
Examples include Uniform Commercial Code and concepts on Debtor-Creditor
Relationships, Agency, Contracts and Government Regulation
Ethics & Professional and Legal Responsibilities
15% to 19% of the exam
Examples include concepts regarding Independence and Due Care as well as Liability and
Legal Responsibility, and Code of Conduct
Federal Taxation on Entities
18% to 24% of the exam
Examples include Tax Reporting with regards to the 3 different types of Legal Trusts and
Entities
Federal Taxation on Individuals
13% to 19% of the exam
Examples include Adjustments and Deductions, Tax Computations, Gross Income Inclusion
and Exclusions, Exemptions and Alternative Minimum Tax (AMT)
Federal Taxation on Property
12% to 16% of the exam
Examples include Related Tax Implications and Types of Assets
Accounting and Federal Tax Procedures
11% to 15% of the exam
Examples include Percentage of Completion, Installment Sales, Cash versus Accrual
Accounting, Inventory Methods and Completed Contracts
