Free Finance Practice Questions

The Enrolled Agent (EA) exam, officially the Special Enrollment Examination (SEE), is a three-part IRS exam required to become an Enrolled Agent — the highest credential the IRS awards. EAs have unlimited practice rights to represent any taxpayer on any tax matter before the IRS. It is ideal for tax professionals, return preparers, and anyone wanting to specialize in tax representation.

Both EAs and CPAs have unlimited representation rights before the IRS. The key difference: EAs specialize exclusively in taxation with no education requirements, while CPAs cover accounting, auditing, and financial reporting and require 150 college credit hours. The EA exam costs ~$801 total (3 parts at $267 each) while the CPA exam costs $1,000+ for 4 sections. EA pass rates (~70%) are higher than CPA (~50-55%).

The CFP exam has a pass rate of approximately 65-70% for first-time takers. The exam covers 170 questions in 6 hours across financial planning topics including investments, retirement, tax, insurance, and estate planning. Candidates must have a bachelor's degree and complete approved education coursework before sitting for the exam.

It depends on your career goals. If you want to focus on tax: start with the EA (no education requirements, lower cost). If you want broad accounting credentials: pursue the CPA (requires 150 credit hours). If you want financial planning/advisory: aim for the CFP (requires bachelor's degree). Many professionals earn multiple certifications over their career.

Each part of the EA exam has 100 questions with a 3.5-hour time limit. Part 1 covers Individual taxation, Part 2 covers Business taxation, and Part 3 covers Representation, Practices & Procedures. You need a scaled score of 105 to pass each part. You can take the parts in any order and have up to 4 attempts per testing window.

Yes! All practice questions on OpenExamPrep are 100% free. We provide 200+ EA practice questions with detailed explanations covering all 3 parts, plus AI-powered study assistance. Our questions are written to match the difficulty and format of the actual exam, with scenarios, calculations, and application-level reasoning.