Missouri Ethics Exam Requirements
Many candidates who pass the Certified Public Accountants (CPA) Exam face one more important test before they earn a license to practice as Certified Public Accountants—an Ethics Exam. States vary their ethics requirements for a CPA license just as they vary their requirements for the CPA Exam.
About 35 state boards require CPA candidates to go through a course and pass the Ethics Exam conducted either by the AICPA or the state board. The American Institute of Certified Public Accountants (AICPA) Ethics Exam focuses on ethics questions that arise in the accounting profession. It tests the candidate’s understanding of the conduct required of CPAs who serve the financial integrity of businesses and individuals.
Some jurisdictions administer their own Ethics Exam through their State Society of CPAs. Other jurisdictions don’t require either an ethics course or an ethics examination for a license.
The Ethics Exam requirement takes a lot of candidates by surprise because it does not get a lot of attention while they are working to pass the CPA Exam. Compared to the CPA Exam they’ve just passed, this last hurdle is a very small one. Take time to read the study material. Be careful answering questions when you take the test. These can be tricky, and only a few wrong answers are enough to cost you the score you need to pass.
Below, we will discuss the Missouri CPA Ethics requirements. You must complete a written exam in professional ethics acceptable to the Missouri Board of Accountancy to get a Missouri CPA license. The board requires the AICPA Ethics Exam.
Preparing for the Missouri CPA Ethics Exam
You must complete and pass the Professional Ethics: The AICPA’s Comprehensive Course (PE) prior to receiving your Missouri CPA license. You must pass this course with a score of 90 percent or higher to qualify. The course explains the AICPA Code of Professional Conduct and covers the basic tenets of ethical and professional conduct.
The ethics exam is an open-book, multiple-choice exam written and graded by the American Institute of CPAs. You can order the ethics exam from the Missouri Society of Certified Public Accountants (MOCPA). Exam materials include an auxiliary membership with the society.
It is not necessary to take the AICPA Ethics Exam until you are prepared to apply for the Missouri CPA license. The ethics exam does not need to be completed during the 18-month rolling window of the CPA exam.
For more details, click here to visit The Missouri Society of Certified Public Accountants website that provides additional ethics exam information and offers candidates to enroll for an online ethics exam. Applicants may contact MOCPA’s Liz Schaetzel at (800) 264-7966 or [email protected] for more help.
Required Study Time for Ethics Exam
You can expect to schedule between 10 and 20 hours to study for the exam. You won’t need to devote much more than 10 hours to prepare. Just make sure you don’t skim and miss important points.
Take notes so that you’ll hold on to the concepts long enough to pass the test. The multiple-choice questions can be tricky; read them carefully.
If you have any questions about the uniform CPA exam, contact the CPA Examination Services of the National Association of State Boards of Accountancy.
The exam format
The AICPA Ethics Exam is a timed, open book exam. You can look up answers in your textbook if you have enough time.
There are 40 multiple-choice questions that can either be taken online or on paper. The test offers all multiple-choice questions. Most are relatively simple.
However, since the passing score is 90, you can’t miss too many questions. You must be careful to select the correct answer when you read the questions.
How long are Ethics Exam scores good?
After you order the Ethics Exam, AICPA gives you one full year to study and take the test. You can contact the AICPA Grading Department at 1-888-777-7077 to ask for a 30-day extension if this is not enough time.
States that require the AICPA Ethics Exam usually set a deadline that results are valid for two years after completing the exam. A two-year limit is expected to allow candidates enough time to complete all their other licensing requirements. Check with the Missouri Board of Accountancy to make sure.
Receiving scores
Your manual will have instructions as to how you may submit your answers online. Submitting your answers online means you will receive your score immediately after the test is graded automatically. If you mail in your answers, you will have to wait up to six weeks for the results.
You can get your CPA Permit to Practice after passing the uniform CPA examination. To keep your license, you must complete a specific number of Continuing Professional Education hours covering topics like financial accounting and taxation.
Exam Fees
Candidates will need to pay the fees mentioned below at the Missouri Society of Certified Public Accountants (MOCPA) website:
• $0 MOCPA Members
• $225 MOCPA Nonmembers
Retaking the exam
You are permitted to take the exam online up to three times. You will have to use the paper version and submit your answers by mail to retake it a fourth time.
Ready For The Ethics Exam?
Now that general overview of the Ethics Exam. Feel free to click the button below and grab yourself a copy of our free Ethics Exam Guide.
‘The 28 Things You Need To Know About The Ethics Exam’