The CPA Exam is worth 100% of your mark. There are no other assessment items.
AAA, CBI and FRM only have MCQs. There is only one correct answer for each question in these subjects.
All other CPA exams have an MCQ and an ERQ component.
Vignette style MCQs: A vignette is a small case that you are presented with which will have two or more multiple choice questions attached. We provide examples of these in our practice exams.
Multi-Option MCQ: In Digital Finance there are 5 questions that are a special type of MCQ. Here, there is more than one correct answer and you have to select all the correct options to get the answer right.
What is the ERQ? How many questions are in the ERQ?
ERQ (extended response questions) can require written response or worksheet response (where you enter numbers into a worksheet). CPA Australia do not publish how many questions there will be in the ERQ component of the exam. Our practice exams give you lots of ERQ examples, to help you prepare.
Worksheet response: Here you enter the correct number into the worksheet.
You do not show your calculations – just enter the final number. You will be advised the number of decimal points required.
The ERQ for Digital Finance will require you to rank options in order. We provide examples of this style of question in our two practice exams.
Written response: Here you answer a question. We provide guidance on how to answer a written response question in guided learning, and you can practice with our webinar tasks and in our practice exams. In Ethics & Governance we show how to use the AAA model for ethical responses, and the IRAC method for legal responses.
Do you have to pass every module, or pass both the MCQ and ERQ in an exam?
No. You just need a combined total that is reaches the pass mark scaled score of 540.
Is the pass mark 50%? What does a scaled score of 540 mean?
Check out our blog post that explains the ‘CPA Scaled Score‘ for more information. CPA Australia have also published an explanation “Understanding your exam result” that you may find useful.
Regards,
Courtney
