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AICPA REG Exam Overview:
| Certification Vendor: | AICPA |
|---|---|
| Exam Name: | CPA Regulation (REG) Exam |
| Exam Number: | REG |
| Certificate Validity Period: | CPA exam credit valid for 18 months (rolling window); CPA license does not expire once issued |
| Passing Score: | 75 (on a 0–99 scale) |
| Real Exam Qty: | 74 total (66 MCQs + 8 TBSs) |
| Exam Price: | USD 250–350 (varies by jurisdiction and fees) |
| Exam Duration: | 240 minutes |
| Exam Format: | Task-Based Simulations (TBS), Multiple Choice Questions (MCQ) |
| Available Languages: | English |
| Related Certifications: | CPA Auditing and Attestation (AUD) CPA Business Environment and Concepts (BEC legacy) CPA Financial Accounting and Reporting (FAR) CPA Business Analysis and Reporting (BAR) CPA Tax Compliance and Planning (TCP) CPA Information Systems and Controls (ISC) |
| Recommended Training: | NASBA Candidate Resources AICPA CPA Exam Blueprints & Prep Resources |
| Exam Registration: | NASBA CPA Exam Services CPA Central Registration Portal |
| Sample Questions: | AICPA REG Sample Questions |
| Exam Way: | Computer-based testing at authorized Prometric testing centers |
| Pre Condition: | No formal prerequisites for taking the CPA exam, but most jurisdictions require education (typically 120–150 semester hours) and specific accounting coursework for licensure. |
AICPA REG Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Ethics, Professional Responsibilities, and Federal Tax Procedures | 15–25% | - Ethics and professional conduct
|
| Topic 2: Federal Taxation of Entities | 18–28% | - Business entity taxation
|
| Topic 3: Federal Taxation of Property Transactions | 12–22% | - Property transactions
|
| Topic 4: Federal Taxation of Individuals | 15–25% | - Individual income taxation
|
| Topic 5: Business Law | 10–20% | - Business structure law
|
AICPA CPA Regulation Sample Questions:
Question 1
Smith made a gift of property to Thompson. Smith's basis in the property was $1,200. The fair market
value at the time of the gift was $1,400. Thompson sold the property for $2,500. What was the amount of
Thompson's gain on the disposition?
A. $0
B. $1,300
C. $1,100
D. $2,500
Question 2
On December 31, 1989, a building owned by Pine Corp. was totally destroyed by fire. The building had
fire insurance coverage up to $500,000. Other pertinent information as of December 31, 1989 follows:
During January 1990, before the 1989 financial statements were issued, Pine received insurance
proceeds of $500,000. On what amount should Pine base the determination of its loss on involuntary
conversion?
A. $530,000
B. $560,000
C. $520,000
D. $550,000
Question 3
Leker exchanged a van that was used exclusively for business and had an adjusted tax basis of $20,000
for a new van. The new van had a fair market value of $10,000, and Leker also received $3,000 in cash.
What was Leker's tax basis in the acquired van?
A. $20,000
B. $7,000
C. $13,000
D. $17,000
Question 4
Farr made a gift of stock to her child, Pat. At the date of gift, Farr's stock basis was $10,000 and the
stock's fair market value was $15,000. No gift taxes were paid. What is Pat's basis in the stock for
computing gain?
A. $0
B. $5,000
C. $10,000
D. $15,000
Question 5
Elm Corp. is an accrual-basis calendar-year C corporation with 100,000 shares of voting common stock
issued and outstanding as of December 28, 1996. On Friday, December 29, 1996, Hall surrendered 2,000
shares of Elm stock to Elm in exchange for $33,000 cash. Hall had no direct or indirect interest in Elm
after the stock surrender. Additional information follows:
What amount of income did Hall recognize from the stock surrender?
A. $33,000 dividend.
B. $18,000 capital gain.
C. $17,000 capital gain.
D. $25,000 dividend.
Solutions:
| Question 1 Answer: B | Question 2 Answer: A | Question 3 Answer: D | Question 4 Answer: C | Question 5 Answer: C |
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