ACCT 3110 Entrance Exam FAQ

1. How do I register for the exam?
   
   To register for the ACCT Entrance Exam, you need to go to the Department of Accounting website cob.unt.edu/acct. To register you will need your UNT student ID# and you’re EUID (ex. Abc1234). Scroll down the page to the ACCT 3110 Entrance Exam tab on the left-hand side of the page. Click on Exam Location, Dates and Registration. Click on the date and time you wish to take the exam and enter your personal information. Once registration is complete, a confirmation email will be sent to the email address provided.
   
   PLEASE NOTE: if you click on a date and time and a form does not appear, this means that exam is full, and you will need to choose another date and/or time
2. How do I change my registration date and/or time?
   
   If you need to change the date and/or time you have registered to take the exam, please email Becky.Andrews@unt.edu or call the Department of Accounting at 940-565-3080.
3. Where do I go to take the exam?
   
   The exam is given in the Sage Hall Testing Center, Room C330. https://it.unt.edu/test.
4. When do I need to take the ACCT 3110 Entrance Exam?
   
   You should register to take the entrance exam during the semester you are taking ACCT 2020. If you are a transfer student and have already taken and passed, with a C or better, ACCT 2010 and ACCT 2020 (ACCT 2301 and ACCT 2302 at most Texas Community Colleges) then you can register for the exam before your first semester at UNT. Space and dates are limited.
   
   If you plan to take ACCT 2010 and ACCT 2020 (or just ACCT 2020) during the summer, then you can register to take the entrance exam during the summer to allow you to take ACCT 3110 in the fall.
   
   PLEASE NOTE: Entrance exam scores are only good for six (6) months. So, if you take the entrance exam in the:
   
   Fall semester, you must take ACCT 3110 by the following Spring semester;
   
   Spring semester, you must take ACCT 3110 by the following Fall semester;
   
   Summer semester, you must take ACCT 3110 by the following Fall semester.
   
   ADDITIONAL NOTE: If you take the entrance exam while you are taking ACCT 2020 and pass, allowing you to take ACCT 3110, but fail to complete ACCT 2020 with a C or better, you will NOT BE ALLOWED TO TAKE ACCT 3110 – even though you passed the exam.
5. What if I do not pass the entrance exam, can I take it again?
   
   You may take the entrance exam two (2) times per semester (fall, spring and summer).
   
   PLEASE NOTE: You may register only once in a given testing block (for example, if a testing block is on April 7th, 8th, 9th, you may not take it more than once during that testing block.
6. When will I know if I passed the exam?
   
   Grades will be posted through Blackboard and should be available within two weeks of the exam date. Students will receive either a P (PASS) or an F (FAIL) for the exam.
7. Can I enroll in the ACCT 3110 course prior to taking the ACCT 3110 Entrance Exam?
   
   You may not enroll in ACCT 3110 until you have a passing grade on the entrance exam.
8. If I do not pass ACCT 3110 and need to re-take the course, do I have to re-take
   
   the entrance exam? If you complete ACCT 3110 with a D or W (withdraw from class), you do not have to retake the entrance exam provided you enroll in ACCT 3110 in the following semester (e.g., if you make a D or W in Fall 2017, you must enroll in ACCT 3110 in Spring 2018 to avoid re-taking the entrance exam. If you do not take ACCT 3110 in Spring 2018, you will have to re-take the entrance exam).
9. Can I waive the ACCT 3110 Entrance Exam?
   
   Yes. If you make an A in ACCT 2010 taken at UNT and you enroll in ACCT 3110 within one year, the Entrance Exam can be waived. For example, if you pass ACCT 2010 taken at UNT with a grade of A in the fall 2017 semester, you must enroll register for ACCT 3110 by the fall 2018 semester.
   
   PLEASE NOTE: The Entrance Exam will be waived ONLY if you made an A in ACCT 2010 taken at UNT. If you transfer in an A for ACCT 2010, the entrance exam will not be waived.
10. How long do I have to take the exam and how many questions will there be?
    
    You will have two (2) hours to take the entrance exam. There will be 50-60 multiple choice questions.
11. What do I need to bring to the exam?
    
    You will need to bring your UNT Student ID or driver’s license and a pen or pencil (scratch paper will be provided). NO CALCULATORS WILL BE ALLOWED!! All other items will be kept in a public area in a cubby.
    
    If you are easily distracted, you might want to bring ear plugs (not music ear buds) to dampen any potential ambient sounds.
    
    Once you begin the exam, you cannot leave the testing room, so please plan accordingly.
12. How can I prepare for the exam?
    
    You should study your ACCT 2010 – Financial Accounting textbook. You can also take the sample test for an idea of the type of questions on the exam. Additional resources include: www.principlesofaccounting.com or www.accountingtestprep.com.
    
    If a boot camp is offered, you are strongly encouraged to take the boot camp because our statistics show that those who take the boot camp have a higher likelihood of passing the entrance exam than those who do not take the boot camp.
13. What if I fail to attend the exam for which I register?
    
    Your failure to attend the registered exam will count for one attempt, unless you have notified the department (via email or call) in advance for anticipating absence due to a legitimate reason.
14. What are the topics covered on the ACCT 3110 entrance exam.
    
    Please note that percentages in parentheses represent an approximate estimation of points allocated to that topic.
    1. Overview Material (10%)
       1. Purpose of accounting and GAAP.
       2. Basic accounting terms and accounting equation.
    2. Accounting Cycle (45%)
       1. External transaction journal entries.
       2. Posting to ledgers (t-accounts).
       3. Trial balances.
       4. Adjusting journal entries (prepaid expenses, unearned revenues, accrued expenses, and accrued revenues).
       5. Four basic financial statements (Income Statement, Balance Sheet, Statement of Cash Flows, and the Statement of Stockholders; Equity).
       6. Closing entries.
    3. Cash and Receivables (10%)
       1. Accounts receivable and the allowance for doubtful accounts.
       2. Notes receivable and interest revenue.
       3. Bank reconciliation.
    4. Inventory (10%)
       1. Valuation methods (FIFO, LIFO, and Average cost).
       2. Purchase and sale of inventory.
    5. Long-Term Assets (10%)
       1. Acquisition and sale of long-term assets.
       2. Depreciation and amortization.
    6. Liabilities (5%)
       1. Notes payable and interest expense.
    7. Stockholders’ Equity (10%)
       1. Invested capital (Common Stock).
       2. Retained earnings and dividends.