1. The ultimate basis of RA 9298 is the
The prescription and/or adoption of
a. NIRC
b. PD 692
c. Revenue Regulations
d. Philippine Constitution
2. “The State recognizes the importance of
accountants in nation building and
development”. This statement is
included in what section of the Act?
a. Short title
b. Declaration of policy
c. Objectives
d. Scope of practice
3. The primary duty to enforce the
provision of RA 9298 and its IRR rests
with
a. The PRC
b. The FRSC
c. The BOA
d. The AASC
4. Which of the following is not one of the
main objectives of the Philippine
Accountancy Act of 2004?
a. The standardization and regulation
of accounting education
b. The examination for registration of
certified public accountants
c. The supervision, control and
regulation of the practice of
accountancy in the Philippines
d.
a Code of Ethics for the practice of
accountancy
5. Any person who shall violate any of the
provision of the Act or any of its
implementing rules and regulations
promulgated by the BOA subject to the
approval of the PRC, shall upon
conviction, be punished by
a. Lethal injection
b. A fine of not more than P50,000
c. Imprisonment for a period not
exceeding two years
d. A fine of not less than P50,000 or by
imprisonment for a period not
exceeding 2 years or both
6. The following are qualifications of
applicants for the CPA licensure
examination, except
a. Must be a Filipino citizen
b. Must be of good moral character
c. Must be a holder of the degree of
BS Accountancy
d. Must be at least 21 years old
7. The following documents shall be
submitted by applicants for the CPA
licensure examination, except
a. Transcript of records with indication
therein the date of graduation and
Special order number unless it is
not required
 b. Certificate of Live Birth in National
Statistics Office (NSO) security
paper
c. Marriage contract in NSO security
paper for married female applicants
d. Baptismal certificate
8. The following statements relate to the
rating in the CPA exams. Identify the
false statement.
a. A candidate must have a general
weighted average of at least 75%
with no grades lower than 65% in
any given subjects in order to pass
the CPA exam.
b. In the event a candidate obtains a
rating of 75% an above in at least
majority of the subjects, he/she
shall receive conditional credit for
the subjects passed.
c. A candidate who receives a
conditional credit shall take an
examination on the remaining
subjects within 2 years from the
preceding examination.
d. A candidate who gets a conditional
credit and takes an examination on
the remaining subjects must get an
average of at least 75% on the
subjects re-examined and at least
65% in each of the subjects re-
examined.
9. Which of the following is a correct
statement?
a. The Certificate of Registration
issued to successful examinees is
renewable every three years.
b. The Professional Identification Card
issued to successful examinees shall
remain in full force and effect until
withdrawn, suspended or revoked.
c. The BOA, may after the expiration
of three years from the date of
revocation of a Certificate of
Registration, reinstate the validity
of a revoked Certificate of
Registration.
d. Those who failed to renew
professional licenses for a period of
five continuous years from initial
registration, or from last renewal
shall be declared delinquent.
10. Practice of Public Accountancy shall
constitute in a person (choose
exception)
a. Rendering professional services to
more than one client on a fee basis
b. Offering services for the design,
installation, review and revision of
accounting systems and controls, or
the preparation and/ or review of
income tax returns when related to
accounting and auditing procedures
c. When he/she represents his/her
clients before government agencies
on tax and accounting matters
d. When he/she represents his/her
employer before government
agencies on tax and accounting
matters and such employment or
position requires that the holder
thereof must be a certified public
accountants.