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Uniform CPA Examination — Financial Accounting and Reporting (FAR)
Financial Accounting and Reporting (FAR) is one of the three mandatory Core sections of the Uniform CPA Examination under the CPA Evolution licensure model (with AUD and REG, plus one Discipline section): a four-hour, computer-based section delivered at Prometric test centers, made up of 50 multiple-choice questions and 7 task-based simulations in five testlets, weighted 50% MCQ / 50% TBS and scored on a 0–99 scale with 75 required to pass.
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Questions50 multiple-choice questions and 7 task-based simulations across five testlets (MCQ testlets of 25 and 25; TBS testlets of 2, 3, and 2); unscored pretest questions are mixed in and are not part of the score
Testing timeFour hours of testing time for the section, plus a standardized 15-minute break after testlet three that does not count against testing time (optional breaks between other testlets do count)
ScoringPassing score of 75 on a 0–99 scale; the total score is a weighted combination of scaled MCQ and TBS scores — 50% MCQs and 50% TBSs for Core sections including FAR — computed with Item Response Theory; scores are not curved
Exam feeNo single national fee — the total cost (application, administration, and examination fees) varies by jurisdiction; example from a NASBA CPA Examination Services jurisdiction (Michigan): Exam Section Fee USD 268.59, Exam Application Fee USD 96.00, Education Evaluation Application Fee USD 96.00; surcharges apply for testing in Guam or at international test centers
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Exam overview
What to know before choosing your prep
- Who runs it
- AICPA
- Category
- Accounting Licensure
- Current version
- Current specification under the CPA Exam Blueprints effective January 1, 2026 (Blueprints are typically published one to two times per year); the Core/Discision model with FAR as a Core section has been in effect since the January 2024 CPA Evolution rollout
- Where it applies
- United States — national
- Exam languages
- English
- Score scale
- 0–99 scaled score (not a percentage correct)
- Testing provider
- Prometric test centers (54 U.S. jurisdictions plus international locations); the Exam is owned by the AICPA and administered in Prometric test centers by NASBA and the AICPA on behalf of the state boards of accountancy
- Format
- Computer-based section taken at a Prometric test center, delivered in five testlets (two MCQ, three TBS) with a standardized 15-minute mid-exam break that stops the clock
- Availability
- Offered year-round under continuous testing; appointment availability is set independently by each Prometric test center, schedulable at least five days in advance (45 days recommended)
- Results
- Scores are released on a rolling basis against target dates posted twice a year by the AICPA; NASBA forwards scores to the Boards of Accountancy, which release them to candidates (some boards add at least a day of processing)
- Score validity
- Conditional credit for a passed section is set by each jurisdiction; in NASBA CPA Examination Services jurisdictions (Michigan example) credit lasts a rolling 30 months from score release, and all four sections must be passed within that rolling 30-month window
- Remote testing
- Not available
Exam structure
Five testlets: two multiple-choice testlets of 25 questions each, then three task-based-simulation testlets of 2, 3, and 2; MCQs and TBSs each carry 50% of the score; questions within a testlet can be answered in any order, but a submitted testlet cannot be revisited
Where rules vary
One uniform U.S. examination: 55 jurisdictions (50 states and five U.S. territories) have Boards of Accountancy that set eligibility and licensure rules, but the Exam itself is identical for all candidates; it is also administered internationally in 15 countries. NASBA administers on behalf of the state boards.
Eligibility
Eligibility is determined by the candidate's Board of Accountancy (education, experience, and residency vary by jurisdiction); example from Michigan (CPAES): good moral character plus at least 24 semester hours of accounting courses (including financial accounting and reporting, auditing, taxation, etc.) and at least 24 semester hours of general business courses; no residency or SSN requirement in that state
Retake policy
Under continuous testing a failed section may be retaken shortly after the score is received, with no cap on attempts — the only constraints are score release, re-registration, obtaining a new Notice to Schedule, and finding an open appointment; rescheduling/cancellation fees escalate from free (61+ days out) to the full Prometric seat fee (2–5 days out)