1.

The policy for accreditation covers CPAs involved in teaching of accounting and related subjects in the
A. primary level only
B. primary and secondary levels only
C. secondary and tertiary levels only
D. primary, secondary, tertiary and graduate level

2. All of the following are requirements for accreditation of Accounting Teachers , EXCEPT:
A. Possession of relevant Master's Degree
B. A total of three years' meaningful experience in actual accounting work
C. Completion of 12 units of relevant education subjects from CHED recognized schools
D. Proof that the CPA has undergone continuing professional education equivalent to 75 units

3. The accreditation granted for accounting teachers is valid for

A. one year C. three years
B. two years D. four years

Code of Ethics
4. Which fundamental principle may be threatened when the CPA in public practice is asked to provide a second
opinion on the application of professional standards or principles to specific circumstances or transactions by,
or on behalf of a company or entity that is not an existing client?
A. Integrity
B. Confidentiality
C. Professional behavior
D. Professional competence and due care

5. A CPA should maintain objectivity and free of conflicts of interest when performing
A. all professional services.
B. audits, but not any other professional services.
C. all attestation services, but not other professional services.
D. all attestation and tax services, but not other professional services.

6. The following are the fundamental principles of professional ethics, EXCEPT

A. independence. C. objectivity.
B. integrity. D. professional competence and due care.

7. Ultimately, the decision about whether or not an auditor is independent must be made by the
A. auditor. C. PRC.
B. client D. public

8. Because an external auditor is paid a fee by a client company, he or she

A. is never considered to be independent
B. may be sufficiently independent to conduct an audit
C. is absolutely independent and may conduct an audit
D. must seek approval from the Securities and Exchange Commission prior to conducting an audit

9. The fundamental principle of integrity requires a CPA to

A. be straightforward and honest in performing professional services.
B. perform professional services with due care, competence and diligence.
C. be fair and should not allow prejudice or bias, conflict of interest or influence of others to
overrideobjectivity.
D. act in a manner consistent with the good reputation of the profession and refrain from any conduct which
might bring discredit to the profession.

10. An inadvertent violation of the Code of Ethics, depending on the nature and significance of the matter, may not
compromise compliance with the fundamental principles provided, once the violation is discovered,
A. the CPA withdraws from the specific professional service involved.
B. a disclaimer of opinion is issued to the client as a result of the violation.
C. the engagement is promptly transferred to another, non-violating professional
D. the violation is corrected promptly and any necessary safeguards are applied.