After a one-year slip from the top spot, students from the Calloway School of Business and Accountancy have again ranked first in the nation for their scores on the Certified Public Accountant exam.

The National Association of State Boards of Accountancy recently announced the scores of the 2001 exam.

Seventy-five percent of Calloway students passed all four sections, ranking first in business law, second in financial accounting and reporting and third in both auditing, accounting and reporting. The national average passing rate is 17.2 percent.

"I think that these types of results are great for the program, and great for Wake Forest," Dale Martin, associate dean of academic progress and research at Calloway, said. "This publicity will attract even more great students because it makes many people realize the true value of a Wake Forest education: small classes and intimate relationships."

Calloway students consistently place first and second in the nation for the highest passing rate on the first time of taking the exam. "This is a validation of the quality of students that we have," Martin said.

Three 2001 graduates, Wendel Kralovich, Kirk Sonnefeld and Brian Branson, earned the three highest scores in the state of North Carolina. This marked the second time since 1997 that Calloway students have captured all the state medals.

The 2001 US News and World Report survey ranked the Calloway school 24 out of 384 accredited undergraduate accounting programs.

The CPA exam is given in May and November, but the scores for the 2002 CPA exams will not be released until the summer of 2003. The university has already been notified that 2002 graduate Eric Almond received the highest score in the state.

"The number one ranking of our accounting graduates is a tribute to the ability and dedication of the students themselves," Lee Knight, a professor of accountancy and director of the accounting program, said. "We are proud of their continuing achievement on this exam and believe that both Calloway and Wake Forest benefit from what is becoming a Wake Forest tradition for our accounting graduates."

The Calloway school offers students the chance to earn bachelor of science and master of science degrees after five years of course work. There is also a two-year Master of Science in Accountancy program for students who have already earned a bachelor's degree.

The MSA program offers a 10-week paid, professional accounting or finance internship of which 90 percent of students take advantage. Most positions are in large international accounting and financial services firms.