Exam 1 is a timed three and one half hour (210 minutes) Exam, with the time running once the Exam is opened. The window for the Exam is from 12 a.m. on Thursday, July 9, to 11:59 p.m. on Sunday, July 12 ( Los Angeles time). There will likely be over 130 questions on the Exam, so even in 210 minutes the student will need to move quickly through the Exam.

Exam consists of true-false, multiple choice, and problems. The problems have been converted to sequential multiple choice. Sequential multiple choice consists of a statement of facts and then a series of questions related to those facts; for example, what is gross income, what is the standard deduction, what are the itemized deductions, and what is TI. Generally tax return forms do not appear on the Exams but rather are in the Projects.