Smart tips and tricks to crack CA CPT exam meticulously

  • The Chartered Accountancy is one of the toughest professional exams in India that values a great demand to manage the accounts of an organization detailed and methodically. A strong and gritty training process requires every aspirant to pass through it soon after passing different levels of CA-CPT.
  • The ICAI (Institute of Chartered Accountants of India) is the national professional accounting body that was established on July 1, 1949 to regulate the profession of Chartered Accountancy in India. ICAI serves as the sole accounting and regulatory body of the profession in the country. To become a CA, aspirants have to go through the first level of the Chartered Accountancy Examination. This first level is called the Common Proficiency Test i.e., CPT.
  • Today’s article isn’t any miraculous one with some magic tricks and hints, but slightly different from what you regularly go through. In fact, there is no shortcut to hard work and success but an apt blend of hard work and smart work can definitely make it possible for candidates to prepare effectively, perform efficiently, and score meritoriously in the CA foundation.
  • Every year hundreds and thousands of candidates apply for this prestigious exam but a very of them reach the highest. When asked about their successful preparation, generally what we end up one common factor i.e., the Smart work! Yes, the work that can be carried out smartly and efficiently in less amount of time. Everyone does hard work, but smart works are the rarest and the most goal achieving attribute.
  • An effort is an important ingredient for preparation, but knowing where to make an effort makes all the difference. It is good-for-nothing if you have missed 20% of the ca foundation syllabus that is likely to carry 80% weightage in exams. When one gets into preparing with the toughest exams, a little bit of smart work besides hard work brings a huge change in completing the curriculum.
  • Let us get into some of the most rated yet successful tips to crack a CA-CPT exam meticulously:
  1. Understanding of the CA Foundation Syllabus and Exam Pattern
  • Before starting your CA Foundation preparation, one should be aware of the CA Foundation syllabus and the exam pattern. If things aren’t caught in the dark, the attempt to CA exam without any preparation is equivalently similar.
  • The CA Foundation has subjects –
  1. Principles and Practices of Accounting.
  2. Business Laws and Business Correspondence and Reporting.
  3. Business Mathematics and Logical Reasoning and Statistics.
  4. Business Economics and Business and Commercial Knowledge.
  • CPT is an objective type of examination and consists of 200 multiple-choice questions. CPT includes four subjects which are divided into two sections i.e., Session I and Session II. Below are the subject names and total marks allotted for each subject.

Section A: Accounting (60 Marks)

Section B: Mercantile Laws (40 Marks)

Section C: Economics (50 Marks)

Section D: Quantitative Aptitude (50 Marks)

  • CPT is an entry-level test in the CA exam. To pass the ICAI exam, the first battle you need to clear 4 subjects divided into two sessions:
  • First Session: The Fundamentals of Accounting and Mercantile Laws.
  • Second Session: you will sit for General Economics and Quantitative Aptitude.
  • The knowledge level you need to have is foundational.
  • There is a total of 200 multiples choice questions you need to answer to be able to clear the CPT exam.
  • To pass CPT, you need to score at least 50%. That means you need to score 100 out of 200 if you want to pass the exam.
  • There is no negative marking for not attempting any question. But if you give the wrong answer to a question, you will have to pay the penalty of 0.25 marks.

2.Collection and Selection of good study materials

*Study materials generally include CPT syllabus, subjects, practice manuals, and other preparation resources provided by ICAI.

*ICAI study materials for CA CPT 2020 can be easily taken from the official website @ icai.org, so students can utilize them without any confusion.

3.Proper study routine

Regular and quality studies are very important for doing well in CA exams. Your success in CA exam depends upon how much you can grasp while studying. Hence, it is important that you follow a systematic study routine.

4.Prevention of complete dependency on teachers

*Following a particular teacher is good enough but it is better beneficial when a self-concept made ready for the preparation. This is one of the most mind-blowing tips commonly shared b y ever CA-CPT cracker and rank holder.

*According to the sources and examination studies, 95% students take tuitions every year but only 20-25% pass the exams efficiently. The reason the percentages of passing students are not improving because it is generally found that the maximum percentage students have always depended on teachers and lectures. Referring them as your guides is a good way but don’t let them become the master of your senses and knowledge expansion.

5.Join A Proper Coaching Classes proper coaching or Online coaching organizations

  • The recent previous point discussed about preventing the teachers from becoming your ultimate knowledge masters, but what we can’t generally ignore the fact is that CA-CPT is a play-school exam that can be cracked just by sitting at home.
  • It is impossible however, to say that one can’t crack the exam just because one can’t afford to attend the coaching either online or offline. Determination is the only key to success no matter wherever you study. But if opt for a better guide and smart way to crack the exam, then joining a coaching can definitely give a limelight to your interests.
  • Coaching is no more just offline. It is online too. Several organizations have landed to digital platforms to help students to focus, learn, and grow, no matter wherever one resides.
  • Besides attending classes and clearing doubts, the coaching centers or digital learning platforms create a spacious and studious environment for every individual.

6.Provide Your More Attention on Statistics and Logical Reasoning

  • You have to focus on Statistics and Logical Reasoning if you are a Non-Maths commerce student. It appears as tough subjects for Non-Maths students. Logical reasoning covers 20 marks, and the remaining part is divided equally among Maths and Statistics. Therefore, Non-Maths should focus mainly on Statistics and Logical Reasoning.
  • ICAI has introduced this paper Business Mathematics and Logical Reasoning & Statistics at the CA Foundation Level which is one paper of 100 marks divided into three parts:
  1. Business Mathematics – Ratio and Proportion, Indices, Logarithms, Equations and Matrices, Linear Inequalities, Time Value of Money, Permutations and Combinations, Arithmetic and Geometric Progressions, Sets, Functions and Relations, Calculus.
  2. Logical Reasoning – Number Series, Coding and Decoding and Odd Man Out, Direction Tests, Seating Arrangements, Blood Relations, Syllogism
  3. Statistics – Statistical Description of Data, Measures of Central Tendency and Dispersion, Probability, Theoretical Distributions, Correlation and Regression, Index Number and Time Series.

7.Command Over Calculator

  • ICAI allows CA exams. You should have knowledge over various commands on the calculator to save more time while calculating. Learn the short keys like M+, M-, G etc.
  • #4 Time Saving Calculator Tricks

      Have a look at the below mention tricks –

*For Repeated calculation –

First of all, you have to decide a number which will be required in repeated calculations. Thereafter whatever calculation you want to be done with that number, you have to press that symbol twice resultant “K” will appear on your calculator screen.

*Use of GT in Calculator –

GT referred to Gross Total. While searching for the results like NPV, this button is deemed to be very useful as it saves a lot of your crucial time. It stores the result of the current operation and adds it to the previous operation.

*Use of Memory Operations –

The use of Memory Operations includes M+, M- and MRC buttons saving a lot of time starting from CPT to CA Final. M+ is used to add the numbers while M- is used to subtract the numbers. MRC is used for showing the result.

  1. Command Over Calculator
  • ICAI allows CA exams. You should have knowledge over various commands on the calculator to save more time while calculating. Learn the short keys like M+, M-, G etc.
  • #4 Time Saving Calculator Tricks

      Have a look at the below mention tricks –

  1. For Repeated calculation –

First of all, you have to decide a number which will be required in repeated calculations. Thereafter whatever calculation you want to be done with that number, you have to press that symbol twice resultant “K” will appear on your calculator screen.

  • Use of GT in Calculator –

GT referred to Gross Total. While searching for the results like NPV, this button is deemed to be very useful as it saves a lot of your crucial time. It stores the result of the current operation and adds it to the previous operation.

  • Use of Memory Operations –

The use of Memory Operations includes M+, M- and MRC buttons saving a lot of time starting from CPT to CA Final. M+ is used to add the numbers while M- is used to subtract the numbers. MRC is used for showing the result.

8.Know What to Study and What Not to

The root concept of smart work for cracking CA foundation lies in knowing what to study and whatnot. Consequently, what matters in CA foundation is not only the quantity (volume) of materials one had gone through but the quality of learning and revision undertaken scientifically. Students should also know the Exam pattern of CA Foundation Examination before starting their study.

Further, considering personal strengths and weaknesses aspirants should develop personalized strategies as general strategies might not work in individual cases.

9.Do Not Procrastinate

There is nothing magical in preparation. If you procrastinate today, you will avoid completing the part of the study tomorrow as well and this will go on. One of the most important elements of preparation for CA foundation exams is to possess apt time management skills but without any procrastination.

10.Use visual techniques for better retention

Prepare a chart of important concepts and formulas and put it on your wall. Reading the charts daily for few minutes will help you learn them more easily than mugging them.