DATES & TIMES

May 7 & 8, 2003

Wednesday 9:00 a.m. to 12:00 noon Business LAW and Professional Responsibilities

Wednesday 1:30 p.m. to 6:00 p.m. AUDITING

Thursday 8:30 a.m. to 12:00 noon ARE (Accounting & Reporting - Taxation, Managerial, and Governmental and Not-for-profit Organizations)

Thursday 1:30 p.m. to 6:00 p.m. FARE (Financial Accounting & Reporting - Business Enterprises)

November 5 & 6, 2003

Wednesday 9:00 a.m. to 12:00 noon Business LAW and Professional Responsibilities

Wednesday 1:30 p.m. to 6:00 p.m. AUDITING

Thursday 8:30 a.m. to 12:00 noon ARE (Accounting & Reporting - Taxation, Managerial, and Governmental and Not-for-profit Organizations)

Thursday 1:30 p.m. to 6:00 p.m. FARE (Financial Accounting & Reporting - Business Enterprises)

Please note: After the 2003 exams, it is scheduled to be available year-round. See http://www.cpa-exam.org/cpa/computer.html for the future of the exam.

EXAMINATION STRUCTURE

The four parts of the examination are:

• Business LAW
• AUDITING
• ARE (Accounting and Reporting - Taxation, Managerial, Governmental, Not-for-Profit)
• FARE (Financial Accounting and Reporting).

Each of the four parts of the examination is graded on a scale of 0 to 100. The minimum passing score is 75. Scores are reported to candidates three months after the exam is administered.

QUESTION FORMAT

LAW includes 50 to 60 multiple choice points, two or three essay questions worth 10 to 30 points, and two or three other objective questions (yes/no and matching) worth 20 to 30 points.

AUDITING includes 50 to 60 multiple choice points (in as many as 90 questions), two or three essay questions worth 20 to 30 points, and two or three other objective questions (yes/no and matching) worth 20 to 30 points.

ARE is entirely computer graded. It includes 50 to 60 multiple choice points, and other objective questions (yes/no, matching and numerical responses) worth 40 to 50 points.

FARE includes 50 to 60 multiple choice points, two or three problems worth 20 to 30 points, and two or three other objective questions (yes/no, matching and numerical responses) worth 20 to 30 points.

A handheld calculator is provided for the ARE and FARE sections.

Some essay responses on each exam section (other than ARE, which is entirely objective) are graded for writing skills in addition to being graded for technical content. Five points out of the 100 possible on each of these exam sections will be allocated to writing skills. Writing skills are evaluated for organization, conciseness, clarity, use of standard English, responsiveness to the question's requirements, and appropriateness for the reader.

The CPA exam is a closed book, secured examination. Candidates turn in all exam papers and question booklets at the end of the examination period. They are required to sign a statement that they will not disclose the contents of the examination. Question booklets are destroyed after the exam.