Eligibility to sit for the exam:

Eligibility to sit for the exam[edit]
In order to sit for the Uniform CPA Exam, a person must be declared eligible to do so by one of the 55 state boards of accountancy in the United States.

Requirements of state boards vary, but usually consist of a U.S. bachelor's degree with a concentration in accounting (not necessarily an accounting degree) plus an extra year's study (which can be either at an undergraduate or graduate level). The requirement for five years full time equivalent study is known as the "150 hour rule" and has been adopted by the majority of state boards. An important distinction should be made between requirements to sit for the exam, and requirements for certification. In some states, such as Minnesota, the "150-hour rule" applies only to certification; anyone with a bachelor's degree (from a qualifying institution) in accounting may sit for the exam. However, certification requires 150 credit hours.

NASBA 2008 Update: 120 Versus 150-Credit Hour Requirement to Sit for the CPA Examination There are now only two states that do not have laws requiring 150 credits for CPA licensure. However, an increasing number of states allow candidates to take the CPA Exam after earning a bachelor's degree (120 credit hours). NASBA has issued a draft discussion paper outlining the history of, and issues surrounding, the 150-hour education requirement, as well as presenting the arguments, pros and cons, for requiring either 120 or 150 credit hours before allowing CPA candidates to take the Exam.