The Financial Accounting examination contains 75 questions to be answered in 90 minutes.
The test questions cover financial accounting topics.
Students should consider taking the exam if they can demonstrate the following abilities:
- familiarity with accounting concepts and terminology
- preparation, use, and analysis of accounting data and financial reports issued for both internal and external purposes
- application of accounting techniques to simple problem situations involving computations
- understanding the rationale for generally accepted accounting principles and procedures.
Computer-based Scoring: CLEP computer-based (CBT) exams are scored without a penalty for incorrect guessing. The raw score -- the number of correct responses--is translated into a scaled score. The scaled scores for CLEP CBT are reported in a range from 20 to 80.
At Ferris, candidates taking the Financial Accounting exam earn credit for a score of 50 or higher.
Course(s) and Credits
- ACCT 201