Recent

  • Show all results for ""
Licensure Exam Oath and COR Process
37 Questions
3 Views

Licensure Exam Oath and COR Process

Created by
@EasygoingMeteor

Questions and Answers

Who is authorized to administer the oath of profession to successful candidates?

  • Persons authorized by law
  • Both A and C (correct)
  • Only members of the board
  • Any government official

    • A Certificate of Registration (COR) is permanent and does not require renewal.

    False

    What is the duration of validity for a professional identification card before it needs to be renewed?

    3 years

    The ______ shows names and places of business of all registered CPAs.

    <p>roster</p> Signup and view all the answers

    Match the following terms with their descriptions:

    <p>Oath of profession = Required before practicing profession Certificate of Registration = Issued after passing the exam Professional identification card = Renewable every 3 years Roster of CPAs = Lists registered CPAs and their businesses</p> Signup and view all the answers

    Which of the following courses focuses specifically on the legal aspects of business?

    <p>Business Laws and Regulations</p> Signup and view all the answers

    Core accounting education courses aim to integrate ethical values and professional attitudes.

    <p>True</p> Signup and view all the answers

    What is one of the objectives of cognate or major professional courses in accounting?

    <p>To complement technical competencies of business and management education.</p> Signup and view all the answers

    ___ is a course that provides hands-on experience in the accounting field.

    <p>Accounting Internship</p> Signup and view all the answers

    Match the following core accounting education courses with their main focus:

    <p>Financial Accounting and Reporting = Preparation of financial statements Statistical Analysis with software application = Data analysis using statistical software Governance, Business Ethics, Risk Management, and Internal Control = Framework for corporate governance and risk assessment Managerial Economics = Application of economic theory to managerial decisions</p> Signup and view all the answers

    Which course focuses on the ethical regulations in business operations?

    <p>Governance, Business Ethics, Risk Management, and Internal Control</p> Signup and view all the answers

    Strategic Management is categorized as a core accounting education course.

    <p>False</p> Signup and view all the answers

    What is required under IFAC's latest international education standards?

    <p>Technical competencies, skills, professional attitude, ethics, and values.</p> Signup and view all the answers

    What is the minimum number of units required to complete the accounting curriculum?

    <p>173 units</p> Signup and view all the answers

    A holder of a degree in Business Administration is eligible to take the CPALE.

    <p>False</p> Signup and view all the answers

    What is one requirement to become a CPA?

    <p>Pass the CPALE administered by PRC.</p> Signup and view all the answers

    In the accounting curriculum, _____ units must come from General Education Courses.

    <p>36</p> Signup and view all the answers

    Which of the following are key learning outcomes strengthened by General Education?

    <p>Logical and Critical Thinking</p> Signup and view all the answers

    Match the courses with their categories in the accounting curriculum:

    <p>National Service Training Program = General Education Courses Core Accounting Education Courses = Accounting Requirements Common Business and Management Education Courses = Business Foundation Physical Education Courses = General Education Courses</p> Signup and view all the answers

    A CPA must satisfy all legal and regulatory requirements before taking on the professional role.

    <p>True</p> Signup and view all the answers

    Name one area covered by Common Business and Management Education Courses.

    <p>Major functional areas of business.</p> Signup and view all the answers

    Which of the following is NOT a cognate/major course in accounting?

    <p>Incom e Taxation</p> Signup and view all the answers

    An applicant must be a Filipino citizen to qualify for the CPALE.

    <p>True</p> Signup and view all the answers

    What is the primary focus of the course 'Operations Auditing'?

    <p>Evaluating the efficiency and effectiveness of operations within an organization.</p> Signup and view all the answers

    The course that covers the principles of fair presentation in financial statements is __________.

    <p>Intermediate Accounting 1</p> Signup and view all the answers

    Match the following courses with their descriptions:

    <p>Auditing and Assurance Principles = Core principles of auditing. Financial Markets = Study of financial instruments and markets. Cost Accounting and Control = Analyzing costs for decision making. Accounting for Government = Accounting practices specific to public sector.</p> Signup and view all the answers

    Which of these courses focuses on taxation?

    <p>Incom e Taxation</p> Signup and view all the answers

    Applicants for the CPALE must have completed a degree in Business Administration.

    <p>False</p> Signup and view all the answers

    What is the minimum general average required to pass the licensure examination?

    <p>75%</p> Signup and view all the answers

    What is the purpose of the course 'Auditing in CIS Environment'?

    <p>To understand auditing processes within computer information systems.</p> Signup and view all the answers

    A candidate can be granted a conditional rating if any subject is below 65%.

    <p>False</p> Signup and view all the answers

    How long does a candidate have to take the remaining subjects for a conditional rating?

    <p>2 years</p> Signup and view all the answers

    The BOA submits ratings to the PRC within _____ calendar days after the examination.

    <p>10</p> Signup and view all the answers

    Which of the following grades would result in a failure?

    <p>64%</p> Signup and view all the answers

    Match the case number with its result based on the given grades:

    <p>Case 1 = Fail Case 2 = Conditional Case 3 = Fail Case 4 = Pass</p> Signup and view all the answers

    What document is required for married female applicants?

    <p>Marriage contract</p> Signup and view all the answers

    Candidates must pay the Professional Tax Receipt before obtaining their Professional Identification Card.

    <p>True</p> Signup and view all the answers

    Study Notes

    Oath and Requirements for CPAs

    • Successful candidates must take an oath before a board member or authorized official prior to practicing.
    • Certificate of Registration (COR) is issued upon passing the licensure exam, contingent on payment of fees.
    • The COR signifies entitlement to practice the profession and remains valid until revoked or suspended.

    Professional Identification Card (PIC)

    • The PIC includes registration number, issuance date, expiry date, and is signed by the commission's chairperson.
    • Renewable every three years.

    Roster of CPAs

    • The Board of Accountancy (BOA) maintains a roster of registered CPAs, accessible online via PICPA.

    Practice in the Government

    • CPAs are required for accounting positions in government or government-owned corporations, emphasizing professional decision-making.

    Becoming a CPA

    • Requires a Bachelor of Science in Accountancy (BSA) from a recognized institution.
    • Must pass the CPA Licensure Exam (CPALE) administered by the Professional Regulation Commission (PRC).
    • Compliance with all legal and regulatory requirements is necessary for professional practice.

    Accounting Curriculum

    • Minimum of 173 units mandated, categorized into:
      • General Education Courses: 36 units
      • National Service Training Program: 6 units
      • Physical Education: 8 units
      • Common Business and Management Education: 6 units
      • Core Accounting Education Courses: 81 units
      • Cognates/Major/Professional Courses: 36 units

    General Education Objectives

    • Strengthen communication skills, logical thinking, and quantitative/computer literacy.
    • Broaden educational foundation to enhance professional accounting studies.

    Core Accounting Education Courses

    • Essential for a career in accountancy, integrating technical knowledge and professional ethics.
    • Subjects include:
      • Financial Accounting and Reporting
      • Intermediate Accounting I, II, III
      • Taxation
      • Auditing Principles

    Cognate/Major/Professional Courses

    • Complement technical competencies in accounting and business management.
    • Required for IFAC international standards compliance for global certification.

    Qualification for CPA Licensure Exam

    • Must be a Filipino citizen, of good moral character, and hold a BSA degree.
    • No prior convictions for criminal offenses, including moral turpitude.

    Examination Scope and Ratings

    • Exam covers a range of topics including Auditing, Business Law, and Financial Accounting.
    • Passing criteria: Minimum average of 75% with no subject below 65%.

    Conditional Ratings and Exam Results

    • Candidates with conditions must retake relevant subjects within two years, maintaining a minimum score of 75% in all remaining subjects.
    • The BOA submits ratings within ten days of exams, with results communicated via mail or during mass oath-taking.
    • Documentation includes:
      • Oath
      • COR
      • PIC
      • PSA-certified birth certificate
      • Marriage contract (if applicable)
      • College diploma and Transcript of Records (TOR)
      • NBI clearance
    • Compliance with board-requested documents is mandatory.

    Studying That Suits You

    Use AI to generate personalized quizzes and flashcards to suit your learning preferences.

    Quiz Team

    Description

    This quiz covers the requirements for candidates to take an oath before practicing their profession and the process for obtaining a Certificate of Registration (COR) after passing the licensure exam. It highlights the roles of authorized officials and the necessary fees. Test your understanding of these essential procedures!

    More Quizzes Like This

    Nursing Home Administrator Licensure Exam Review
    10 questions

    Nursing Home Administrator Licensure Exam Review

    IdealEnlightenment avatar
    IdealEnlightenment
    Nursing Home Administrator Licensure Exam Module 7 Mock Exam
    5 questions

    Nursing Home Administrator Licensure Exam Module 7 Mock Exam

    CompatibleObsidian9987 avatar
    CompatibleObsidian9987
    Veterinarian Licensure Exam: Animal Production & Nutrition
    37 questions

    Veterinarian Licensure Exam: Animal Production & Nutrition

    MultiPurposePlateau avatar
    MultiPurposePlateau
    Social Workers Licensure Exam: SWPPS 1
    40 questions

    Social Workers Licensure Exam: SWPPS 1

    PromisingLaplace avatar
    PromisingLaplace
    Use Quizgecko on...
    Browser
    Open
    Browser
    Browser