[Editor's Note: this article is in reference to the old paper-based exam, not the computer-based exam that is now in use.]

Administration and Grading of the Exam: The American Institute of Certified Public Accountants (AICPA) is responsible for administration and grading of the Exam. The Exam may only be taken within the fifty U.S. states or in the District of Columbia, Guam, Puerto Rico or the U.S. Virgin Islands. The boards of accountancy of all fifty states, the District of Columbia, Guam, Puerto Rico and the U.S Virgin Islands use the Exam as a primary way of measuring the technical competence of CPA candidates. All boards of accountancy mail CPA Exam grades to candidates approximately 90 days after the Exam. (This is referred to as the Uniform Mailing Date.)

150-hour Rule: Many state and jurisdictions now require or will soon require 150 semester hours of education to be eligible for the CPA certification. To meet the 150-hour requirement, you do not necessarily have to get a master's degree. You may meet the requirement at the undergraduate level, or pursue some graduate-level courses after completing your bachelor's degree, or enroll in an integrated five-year professional accounting school or program leading to a master's degree in accounting.

CPA Eligibility Requirements: In most states and jurisdictions where the CPA exam is offered, candidates must have at least a bachelor's degree to become a CPA. Most areas also require at least two years public accounting experience, although many also accept non-public accounting experience (ie. industry, government) - the number of years is typically higher than that for public accounting, though.

In addition, some areas have a one-tier system requiring CPA candidates to pass the Exam and fulfill experience requirements to obtain both the certificate and license. Others have a two-tier system in which you can obtain the certificate upon passing the Exam, but must fulfill the experience requirements to obtain a license to practice public accounting.

Moreover, most areas set an age requirement o f18 or don't have one at all. Five areas: Missouri, New Hampshire, New York, Puerto Rico and the Virgin Island, set 21 as the minimum age requirement. Typically, states and jurisdictions do not require CPA candidates to be U.S. citizens. About half, though, have a residency requirement.

Contact your state board of accountancy for your state's interpretation.