Foundation level exams

The foundation level exams are delivered via computer based testing in exam centres worldwide. The following are the eight foundation level exams:

• Foundations of Accounting
• IT and Business Processes
• Economics and Markets
• Fundamentals of Business Law
• Business Finance
• Financial Accounting and Reporting
• Management Accounting
• Accounting Concepts and Principles

The foundation level exams are owned and directed by CPA Australia in partnership with Pearson VUE, an independent organisation, who administer the exams.

As a foundation level candidate, you will enrol for each exam with CPA Australia and then schedule your foundation level exam date, location and time with Pearson VUE.

Foundation level exam formats and scoring

Each foundation level exam will be:

• offered by computer-based testing in locations worldwide
• multiple choice exam with 100 questions
• each question has four options with only one correct answer
• three (3) hours and fifteen (15) minutes in duration (no reading time)
• closed book
• randomised delivery (ie each candidate will receive the questions in a different order)
• allocated a small pool of questions being tested for future exams ⁱ.

You should attempt all multiple choice questions; as marks are not deducted for incorrect answers.

Each foundation level exam will have an on-screen scientific calculator available to view at any time during the exam. You will be permitted to bring a non-programmable financial calculator in to the test centre.

Each exam is designed by a panel of technical and educational experts who moderate the exams through approval of the questions selected for inclusion and the pass standard for each exam

^{i Candidates will not be scored on these questions. Pre-testing exam questions is standard practice for many professional exams}

Am I eligible to enrol in the foundations exams?

If you are interested in becoming a CPA you should apply for a membership entry pathways assessment along the 14 segment continuum to determine your entry point and see how many segments you will need to complete.

Depending on what you have already studied at university or another higher education provider you may be eligible for exemptions from any or all of the foundation level exams. For example, graduates of many bachelor degrees in accounting will be exempt from all eight foundation exams, meaning that they are more than half way to becoming a CPA.

However, you don’t need to have studied accounting to gain exemptions; CPA Australia will assess whatever formal education you have undertaken to determine whether you have covered the core knowledge requirements of the foundation level.

You should consider your individual circumstances when deciding the appropriate pathway as it is CPA Australia’s requirement that to become a CPA you must have attained the following credentials:

• hold a degree or a postgraduate award recognised by CPA Australia
• have successfully completed CPA Australia's foundation level core knowledge areas (some exemptions may be granted depending on prior learning)
• have successfully completed CPA Australia's professional level examinations
• have successfully completed the practical experience requirement – comprising of at least three years' supervised relevant work experience, covering technical accounting skills, broad business skills, leadership skills and personal effectiveness skills

Computer skills are required and all learning materials, instructions and exams are conducted and written entirely in Australian English characters.