Certified Public Accountant (CPA) Exam: Free Mock Test & Practice Questions

Certified Public Accountant (CPA) Exam

The exam is taken by accounting graduates and professionals who meet specific state-level educational and experience requirements. Passing all four sections of the CPA Exam is a primary requirement for licensure as a Certified Public Accountant in any US state or territory.

Pass mark 75/40 960 minutes Real test fee approx $1500 American Institute of Certified Public Accountants (AICPA) How many can I get wrong?

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Q1. Under ASC 606, Revenue from Contracts with Customers, which of the following is NOT a criterion that must be met for a contract with a customer to exist?

A. The contract has commercial substance.
B. The collectibility of consideration is probable.
C. The contract is approved, and parties are committed to their obligations.
D. The contract's duration must exceed one year.

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✓ Answer: D. The contract's duration must exceed one year.

ASC 606 does not specify a minimum duration for a contract to be valid. The core criteria focus on commitment, identifiable rights, payment terms, commercial substance, and probable collection.

Q2. An auditor is performing an audit for a non-issuer. During the engagement, the auditor discovers that their spouse owns a material amount of stock in the audit client, which was purchased before the engagement began. According to the AICPA Code of Professional Conduct, which of the following statements is correct?

A. Independence is not impaired because the auditor does not directly own the stock.
B. Independence is impaired because a spouse's financial interest is attributed to the auditor.
C. Independence is only impaired if the auditor was aware of the stock ownership when the engagement was accepted.
D. Independence can be restored if the spouse sells the stock before the audit report is issued.

Show answer & explanation

✓ Answer: B. Independence is impaired because a spouse's financial interest is attributed to the auditor.

A covered member's independence is impaired by a direct financial interest held by an immediate family member, such as a spouse. The interest is attributed to the auditor, regardless of the auditor's knowledge or when it was acquired.

Q3. Jane is the sole shareholder of an S corporation. Her stock basis at the beginning of the year was $50,000. During the year, the S corporation had ordinary business income of $20,000, tax-exempt interest income of $5,000, and made a non-deductible fine of $2,000. The corporation also distributed $30,000 to Jane. What is Jane's stock basis at the end of the year?

A. $43,000
B. $45,000
C. $73,000
D. $75,000

Show answer & explanation

✓ Answer: A. $43,000

S corp stock basis is: Beginning Basis + Income (incl. tax-exempt) - Distributions - Non-deductible expenses. So, $50,000 + $20,000 + $5,000 - $30,000 - $2,000 = $43,000.

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Certified Public Accountant (CPA) Exam — common questions

Frequently asked

How many questions are in the Certified Public Accountant (CPA) Exam?

The exam has 40 questions. Every Revision Robin mock uses the same 40-question format so your practice matches the real thing.

What is the pass mark for the Certified Public Accountant (CPA) Exam?

You need 75 out of 40 correct to pass, which is about 188%. Our mocks mark you against this exact threshold.

How long do you get?

The test is timed at 960 minutes. Our full mock runs on the same clock so you can practise your pacing.

Are these the real exam questions?

No. Our questions are original and written to match the current syllabus, so they give realistic practice without copying the official paper. Every answer comes with a plain-English explanation. Always confirm current rules and content with American Institute of Certified Public Accountants (AICPA).

How much does the official test cost?

The official American Institute of Certified Public Accountants (AICPA) fee is approx $1500. Revision Robin practice is separate and helps you pass first time so you only pay that fee once.