A type of qualified accountant. Although rules vary by state as to the requirements for becoming a CPA, generally speaking a CPA must have 150 semester hours of college coursework, which may be a combination of undergraduate and graduate classes. A CPA must also pass a two-day exam that is administered by the Board of Examiners of the American Institute of Certified Public Accountants (AICPA). Some states also require a certain amount of work experience as a public accountant before CPA status is achieved.