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100+ Free CICPA Accounting Practice Questions

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2026 Statistics

Key Facts: CICPA Accounting Exam

180 Mins

Examination Duration

CICPA Official Examination Regulations

60 / 100

Passing Threshold

Ministry of Finance National Uniform Standard

5 Years

Rolling Validity Window for Professional Stage

CICPA Examination Management Rules

~15-22%

Historical National Pass Rate

CICPA Annual Examination Performance Statistics

30 Chapters

Syllabus Breadth across Chinese Accounting Standards

Official CICPA Accounting Exam Syllabus

RMB 60-90

Per-Paper Examination Registration Fee

Provincial Financial Bureau Price Approvals

2 Years

Post-Exam Audit Experience for Full Practising License

PRC Certified Public Accountants Law

The CICPA Accounting exam is the most comprehensive and heavily weighted subject of the China CPA Professional Stage, sat in a single 180-minute CBT session each August with a 60% passing standard and a 5-year rolling validity window. Candidates must achieve deep technical command over Chinese Accounting Standards (CAS), notably financial assets (CAS 22), revenue (CAS 14), leases (CAS 21), deferred taxes (CAS 18), business combinations (CAS 20), and consolidated financial statements (CAS 33). This 100-question OpenExamPrep question bank provides an English-language study adaptation with rigorous multi-step calculations, journal entries, and comprehensive distractor analyses.

Sample CICPA Accounting Practice Questions

Try these sample questions to test your CICPA Accounting exam readiness. Each question includes a detailed explanation. Start the interactive quiz above for the full 100+ question experience with AI tutoring.

1Under Chinese Accounting Standards (CAS), an enterprise enters into a sale and repurchase agreement to sell an asset to a customer for RMB 1,000,000, while concurrently agreeing to repurchase the identical asset two years later for RMB 1,166,400 (which exceeds the original selling price). Which accounting qualitative characteristic requires this transaction to be accounted for as a collateralized financing arrangement rather than revenue from the sale of goods?
A.Substance over form (实质重于形式)
B.Timeliness (及时性)
C.Prudence (谨慎性)
D.Comparability (可比性)
Explanation: Under CAS (Basic Standard and CAS 14 Revenue), the qualitative characteristic of substance over form requires transactions to be accounted for in accordance with their economic substance rather than merely their legal form. In a sale and repurchase agreement where the repurchase price is fixed and exceeds the initial selling price, control of the asset has not substantively transferred to the customer; instead, the seller has obtained financing at an implicit interest rate (here, 8% per annum compounded). Thus, the proceeds are recorded as a financial liability rather than revenue.
2Which of the following accounting practices reflects the qualitative characteristic of Prudence (谨慎性) under Chinese Accounting Standards?
A.Setting aside secret reserves (秘密准备) during profitable years to smooth future earnings volatility
B.Recognizing an Estimated Liability (预计负债) for a pending lawsuit when an outflow of economic benefits is probable and can be reliably estimated, while not recognizing a Contingent Asset (或有资产) for an expected compensation award that is only probable
C.Capitalizing all research and development expenditures immediately upon project inception to accelerate balance sheet asset growth
D.Valuing investment properties at original historical cost adjusted upward annually based on the local consumer price index
Explanation: Under CAS, Prudence (谨慎性) requires an entity to exercise caution when making accounting judgments under uncertainty—specifically, not overstating assets or income and not understating liabilities or expenses. For pending litigation, an estimated liability must be recognized when an outflow of resources is probable (>50%) and reliably measurable, whereas contingent assets are not recognized in the balance sheet until realization is virtually certain (>95%), reflecting the asymmetric threshold demanded by prudence.
3Under the CAS Conceptual Framework, which of the following items qualifies for recognition as an Asset on the balance sheet?
A.A binding contract signed to purchase industrial machinery next year, with no payment or delivery having occurred
B.A batch of obsolete raw materials held in storage that has completely lost its commercial value and cannot generate future cash inflows
C.Prepaid rental expenditure for an office lease providing contractual rights to occupy the premises over the next 12 months
D.Expected future revenue from a customer who has expressed an informal intent to place orders next quarter
Explanation: Under CAS, an asset is defined as a present economic resource controlled by the entity as a result of past transactions or events, from which economic benefits are expected to flow to the entity. Prepaid rent arises from a past payment transaction, is controlled by the entity (enforceable right to occupy premises), and will yield future economic service benefits over the 12-month period, satisfying both the definition and recognition criteria.
4Under Chinese Accounting Standards, which accounting measurement attribute is defined as the present discounted value of estimated future cash inflows minus cash outflows expected to be derived from an asset during continuous operation and ultimate disposal?
A.Net Realizable Value (可变现净值)
B.Present Value (现值)
C.Replacement Cost (重置成本)
D.Fair Value (公允价值)
Explanation: Under CAS (Basic Standard, Article 42), Present Value (现值) is defined as the discounted value of future net cash flows expected to be generated by an asset or required to settle a liability, discounted using an appropriate discount rate. It is central to calculating Value in Use (VIU) under CAS 8 Asset Impairment and lease liability amortization under CAS 21.
5Entity A, a VAT general taxpayer, purchases a batch of raw materials for a total invoice price of RMB 500,000 plus input VAT of RMB 65,000 (supported by a special VAT invoice). Entity A also incurs transportation costs of RMB 20,000 (VAT RMB 1,800), insurance fees of RMB 5,000, handling fees of RMB 3,000, and general warehouse storage fees of RMB 8,000 incurred after the materials arrived at the central warehouse. During transit, a normal reasonable loss of 1% occurred. What is the initial carrying amount of the purchased raw materials under CAS 1?
A.RMB 528,000
B.RMB 536,000
C.RMB 593,000
D.RMB 520,000
Explanation: Under CAS 1 Inventories, the procurement cost of raw materials includes the purchase price, import duties, transportation charges, insurance, handling fees, and reasonable in-transit losses, but excludes deductible input VAT and general storage expenses incurred after arrival at the destination warehouse (unless storage is an indispensable phase in the production process). Therefore, Initial Cost = Purchase Price (500,000) + Transport (20,000) + Insurance (5,000) + Handling (3,000) = RMB 528,000. Reasonable in-transit loss does not reduce total procurement cost (it only increases unit cost).
6At December 31, 2025, Entity B holds 1,000 units of Raw Material M with an actual carrying cost of RMB 400 per unit (total cost RMB 400,000). All 1,000 units of Material M are dedicated to producing 1,000 units of Finished Product N. To convert 1 unit of Material M into 1 unit of Product N, further processing costs of RMB 280 are required. The estimated selling price of Product N is RMB 650 per unit, and estimated selling expenses and related taxes are RMB 30 per unit. If Material M were sold directly on the open market, its raw market price would be RMB 360 per unit (with selling expenses of RMB 20 per unit). What is the inventory write-down provision (存货跌价准备) that Entity B must recognize for Material M at year-end under CAS 1?
A.RMB 40,000
B.RMB 60,000
C.RMB 0
D.RMB 65,000
Explanation: Under CAS 1, for materials held for production, if the net realizable value (NRV) of the finished product is lower than the finished product's total production cost, the materials must be written down to their NRV based on the finished product's price. 1. Finished Product N Cost = Material Cost (400) + Further Processing (280) = RMB 680 per unit. 2. Finished Product N NRV = Selling Price (650) - Selling Expenses (30) = RMB 620 per unit. Since Product N NRV (620) < Product N Cost (680), Product N is impaired, so Material M must be evaluated against its NRV in production. 3. Material M NRV = Product N Selling Price (650) - Further Processing (280) - Selling Expenses (30) = RMB 340 per unit. 4. Write-down per unit = Cost (400) - NRV (340) = RMB 60 per unit. 5. Total provision for 1,000 units = 1,000 × 60 = RMB 60,000.
7On January 1, 2025, Entity C's opening balance of Inventory Write-down Provision (存货跌价准备) for Product K was RMB 50,000 (for 500 units of Product K). On June 30, 2025, Entity C sold 300 units of Product K to external customers. On December 31, 2025, the remaining 200 units of Product K had a total cost of RMB 200,000 and an estimated Net Realizable Value of RMB 170,000. No other transactions occurred. What is the amount of Asset Impairment Loss (资产减值损失) or reversal recognized in Entity C's profit or loss for the year ended December 31, 2025?
A.Impairment loss of RMB 10,000 (debit to 资产减值损失)
B.Impairment reversal of RMB 20,000 (credit to 资产减值损失)
C.Impairment loss of RMB 30,000 (debit to 资产减值损失)
D.Impairment reversal of RMB 10,000 (credit to 资产减值损失)
Explanation: Let's trace the Inventory Write-down Provision step-by-step under CAS 1: 1. Opening provision: RMB 50,000 (RMB 100/unit on 500 units). 2. Sale on June 30: When 300 units are sold, the corresponding provision of 300 × 100 = RMB 30,000 must be transferred against Cost of Sales (Dr. 存货跌价准备 30,000; Cr. 主营业务成本 30,000). 3. Provision balance before year-end test = 50,000 - 30,000 = RMB 20,000. 4. Year-end required provision for 200 units = Total Cost (200,000) - Total NRV (170,000) = RMB 30,000. 5. Required adjustment = Target balance (30,000) - Current balance (20,000) = RMB 10,000 additional provision. 6. Journal entry: Dr. Asset Impairment Loss (资产减值损失) 10,000; Cr. Inventory Write-down Provision (存货跌价准备) 10,000.
8When an enterprise sells inventory for which an Inventory Write-down Provision (存货跌价准备) has previously been recognized, how should the existing write-down provision be accounted for upon the sale under CAS 1?
A.It is credited to Asset Impairment Loss (资产减值损失) in profit or loss
B.It is credited to Non-operating Income (营业外收入)
C.It is credited to Retained Earnings (留存收益)
D.It is transferred to reduce Cost of Sales (主营业务成本 / 其他业务成本)
Explanation: Under CAS 1 (Article 19), when inventory is sold and revenue is recognized, the corresponding inventory write-down provision associated with that inventory must be derecognized simultaneously by debiting 'Inventory Write-down Provision (存货跌价准备)' and crediting 'Cost of Sales (主营业务成本/其他业务成本)'. This ensures that the net carrying amount of the inventory matches the cost of sales charged against revenue.
9On January 1, 2025, Entity D purchases a nuclear power generating plant for a cash payment of RMB 50,000,000. Under national environmental safety regulations, Entity D has a legal obligation to dismantle the facility and restore the site at the end of its 20-year operational life. The estimated decommissioning expenditure in 20 years is RMB 10,000,000. The applicable market discount rate reflects current market assessments of the time value of money at 6% per annum (Present Value Factor for a single sum at 6% for 20 years is 0.3118). What is the initial cost of the fixed asset recognized on January 1, 2025 under CAS 4?
A.RMB 50,000,000
B.RMB 60,000,000
C.RMB 53,118,000
D.RMB 56,000,000
Explanation: Under CAS 4 Fixed Assets (Article 13), when determining the initial cost of a fixed asset, the present value of estimated decommissioning and site restoration obligations (弃置费用的现值) must be included in the asset's initial cost and credited to Estimated Liabilities (预计负债). 1. Present Value of Decommissioning Obligation = 10,000,000 × 0.3118 = RMB 3,118,000. 2. Initial Cost of Fixed Asset = Cash Purchase Price (50,000,000) + PV of Decommissioning Obligation (3,118,000) = RMB 53,118,000. 3. Initial Journal Entry: Dr. Fixed Assets 53,118,000; Cr. Bank Deposit 50,000,000; Cr. Estimated Liabilities (弃置费用) 3,118,000.
10Entity E has a production line originally acquired for RMB 2,000,000, with accumulated depreciation of RMB 800,000 and no impairment provision (carrying amount RMB 1,200,000). On July 1, 2025, Entity E begins a major technical upgrade meeting capitalization criteria. In the upgrade, an old core engine is removed and replaced with a high-efficiency engine costing RMB 700,000. The original cost of the replaced old engine was RMB 400,000 (depreciated proportionally with the line). Additional installation and engineering expenditures of RMB 300,000 are incurred. The upgrade is completed and ready for use on December 31, 2025. What is the new carrying amount of the production line upon completion under CAS 4?
A.RMB 1,960,000
B.RMB 2,200,000
C.RMB 1,800,000
D.RMB 1,460,000
Explanation: Under CAS 4, when subsequent expenditures meet capitalization criteria, the carrying amount of any replaced part must be derecognized. 1. Carrying amount of production line prior to upgrade = 2,000,000 - 800,000 = RMB 1,200,000. 2. Proportion of accumulated depreciation = 800,000 / 2,000,000 = 40%. 3. Replaced engine original cost = RMB 400,000; accumulated depreciation = 400,000 × 40% = RMB 160,000. 4. Replaced engine carrying amount derecognized = 400,000 - 160,000 = RMB 240,000. 5. New additions capitalized = New Engine (700,000) + Engineering/Installation (300,000) = RMB 1,000,000. 6. New total carrying amount = 1,200,000 - 240,000 + 1,000,000 = RMB 1,960,000.

About the CICPA Accounting Exam

The China CICPA Uniform Examination — Accounting (注册会计师全国统一考试 — 会计) is the flagship examination paper administered by the Chinese Institute of Certified Public Accountants (CICPA) under the authority of the Ministry of Finance of the PRC. As the statutory qualification required for certified public accountants auditing publicly listed companies and major enterprises in China, the Accounting paper demands comprehensive mastery of Chinese Accounting Standards (CAS), which are substantially converged with IFRS while incorporating jurisdiction-specific rules for common-control combinations, non-monetary exchanges, and government subsidies. The exam evaluates candidates on financial asset classification and Expected Credit Loss (ECL) modeling, revenue recognition under the five-step model, right-of-use asset and lease liability amortization, deferred tax mechanics, employee benefits and share-based compensation, equity method step acquisitions, and complex group consolidation eliminations. While the official examination is set and conducted in Simplified Chinese, the practice questions provided on this page are an English-language multiple-choice study adaptation engineered to help candidates and international practitioners test their conceptual clarity and numerical precision against official CICPA standards.

Assessment

Single 180-minute computer-based examination covering the 30 chapters of the official CICPA syllabus across Chinese Accounting Standards (CAS), including financial instruments, revenue recognition, leases, deferred taxes, employee benefits, business combinations, and consolidated financial statements.

Time Limit

180 minutes (3.0 hours)

Passing Score

60 / 100 (60%)

Exam Fee

RMB 60 - 90 per subject depending on provincial price bureau regulations (Chinese Institute of Certified Public Accountants (中国注册会计师协会 / CICPA))

CICPA Accounting Exam Content Outline

15%

Accounting Framework, Inventories & Fixed Assets (会计基本理论、存货与固定资产)

Accounting qualitative characteristics (substance over form, prudence, reliability), asset and liability recognition conditions, inventory cost elements, Net Realizable Value (NRV) write-down calculations, fixed asset initial valuation including decommissioning liabilities (弃置费用现值), subsequent capital expenditures, multi-year depreciation schedules (double-declining balance and sum-of-the-years-digits), and fixed asset disposal accounting under CAS 1, 4, and 17.

15%

Intangible Assets, Investment Property & Asset Impairment (无形资产、投资性房地产与资产减值)

Research and development expenditure capitalization criteria (5 conditions), indefinite useful life intangibles, land use right accounting, investment property cost vs. fair value model, conversions between owner-occupied property and fair value investment property (OCI vs. P&L treatment), determination of asset groups (资产组), allocation of corporate headquarters assets, and the non-reversibility of non-current asset impairments under CAS 6, 3, and 8.

20%

Financial Assets & Liabilities, Employee Benefits & Share-Based Payments (金融工具、职工薪酬与股份支付)

Financial asset classification under CAS 22 based on Business Model and SPPI tests (Amortized Cost, Debt FVOCI, Designated Equity FVOCI, FVTPL), effective interest rate amortization, three-stage Expected Credit Loss (ECL) calculations, financial asset transfer derecognition, defined benefit plan remeasurements in OCI, equity-settled vs. cash-settled share-based payment expense recognition schedules, and modification of vesting terms under CAS 9, 11, 22, 23, and 24.

18%

Revenue Recognition, Government Grants & Leases (收入、政府补助与租赁)

CAS 14 five-step revenue framework: identifying performance obligations, variable consideration constraints, relative stand-alone selling price allocation, progress measurement via input and output methods, sales with right of return, service vs. assurance warranties, principal vs. agent determinations, contract assets vs. receivables, contract acquisition/fulfillment costs, CAS 16 government grant gross vs. net methods, and CAS 21 lessee right-of-use asset/liability mechanics and lessor finance leases.

12%

Income Taxes, Borrowing Costs & Contingencies (所得税、借款费用与或有事项)

CAS 18 balance sheet liability method, asset and liability tax bases, taxable and deductible temporary differences, deferred tax assets and liabilities calculation, tax rate change adjustments, borrowing cost capitalization rules (specific borrowings vs. general borrowings weighted average rates) under CAS 17, and provisions, single vs. continuous range best estimates, third-party reimbursements, and onerous contracts under CAS 13.

20%

Business Combinations, Consolidated Financial Statements & EPS (企业合并、合并报表与每股收益)

CAS 20 common control combinations (pooling of interest approach, carrying value share, capital reserve adjustments) vs. non-common control acquisitions (fair value purchase method, goodwill and bargain purchase calculations, transaction cost treatment), CAS 33 consolidation control framework, elimination of intra-group inventory, fixed assets, and debt, upstream vs. downstream unrealized profit allocations to non-controlling interest, and basic vs. diluted EPS with convertible bonds and stock options under CAS 34.

How to Pass the CICPA Accounting Exam

What You Need to Know

  • Passing score: 60 / 100 (60%)
  • Assessment: Single 180-minute computer-based examination covering the 30 chapters of the official CICPA syllabus across Chinese Accounting Standards (CAS), including financial instruments, revenue recognition, leases, deferred taxes, employee benefits, business combinations, and consolidated financial statements.
  • Time limit: 180 minutes (3.0 hours)
  • Exam fee: RMB 60 - 90 per subject depending on provincial price bureau regulations

Keys to Passing

  • Work through all 100 available questions
  • Review every answer and explanation
  • Track weak areas and revisit them
  • Use our AI tutor for tough concepts

CICPA Accounting Study Tips from Top Performers

1Master the distinction between Common Control (同一控制) and Non-Common Control (非同一控制) business combinations: Common control uses carrying values in the ultimate controller consolidated statements with differences absorbed in capital reserve, generating zero goodwill; non-common control uses acquisition-date fair values and creates goodwill.
2Drill the CAS 14 five-step revenue model: Know how to allocate contract discounts on a relative stand-alone selling price basis and calculate refund liabilities and right-of-return asset entries.
3Understand the three-stage Expected Credit Loss (ECL) model under CAS 22: Stage 1 (12-month ECL, interest on gross carrying amount), Stage 2 (lifetime ECL, significant increase in credit risk, interest on gross carrying amount), and Stage 3 (lifetime ECL, credit-impaired, interest on net carrying amount / amortized cost).
4Memorize the CAS 21 lessee accounting formulas: Initial lease liability = PV of unpaid lease payments discounted at implicit rate or incremental borrowing rate; Initial ROU asset = lease liability + initial direct costs + advance payments + restoration PV. Interest expense = opening liability × discount rate.
5Remember the non-reversal rule under CAS 8: Impairment losses on long-term non-current assets (fixed assets, intangible assets, long-term equity investments, goodwill, and investment property under cost model) CANNOT be reversed in subsequent accounting periods once recognized.
6Practice borrowing cost capitalization under CAS 17: Specific borrowing capitalized interest = actual interest incurred less reinvestment/deposit income; General borrowing capitalized interest = weighted average accumulated expenditure exceeding specific borrowings × weighted average interest rate.
7Master deferred tax calculations under CAS 18: Determine carrying amount and tax base of assets/liabilities. Temporary difference × enacted future tax rate = DTA/DTL balance. Recognize deferred tax on FVOCI adjustments in OCI, not in profit or loss.
8Drill consolidated elimination entries under CAS 33: For downstream inventory sales, unrealized profit is fully eliminated against parent net income; for upstream sales, unrealized profit is apportioned between parent net profit and non-controlling interest in proportion to shareholding.

Frequently Asked Questions

What is the China CICPA Uniform Examination — Accounting (注册会计师 会计) paper?

It is the flagship core paper of the China Certified Public Accountant (CICPA) Professional Stage qualification, administered by the Chinese Institute of Certified Public Accountants under the Ministry of Finance. It tests comprehensive mastery of Chinese Accounting Standards (CAS), including transaction accounting, financial instruments, revenue recognition, corporate tax mechanics, business combinations, and consolidated financial reporting.

How is the CICPA Accounting exam structured and scored?

The examination is a 180-minute (3.0-hour) computer-based test (CBT) worth 100 marks with a fixed national pass mark of 60%. The official exam includes 13 single-choice questions (26 marks), 12 multi-choice questions (24 marks), 2 calculation analysis questions (18 marks), and 2 comprehensive case questions (32 marks). In high-volume test centres, candidates may be scheduled into either Batch 1 or Batch 2 across the exam weekend.

What is the rolling validity period for passing the CICPA Professional Stage?

Individual subject pass results remain valid for 5 consecutive calendar years from the year the paper was passed. Candidates must successfully complete all 6 Professional Stage papers (Accounting, Auditing, Financial Cost Management, Corporate Strategy, Economic Law, Taxation) within this 5-year rolling window to receive the Professional Stage Certificate and unlock the Comprehensive Stage examination.

How do Chinese Accounting Standards (CAS) compare to IFRS and US GAAP?

Chinese Accounting Standards (CAS) are substantially converged with IFRS across core standards such as CAS 14 (converged with IFRS 15 Revenue), CAS 21 (converged with IFRS 16 Leases), and CAS 22-24 (converged with IFRS 9 Financial Instruments). However, key differences remain: CAS maintains distinct statutory rules for Business Combinations Under Common Control (同一控制下企业合并 using carrying values without new goodwill), strictly prohibits the reversal of non-current asset impairments under CAS 8, and requires specific accounting for government land subsidies and state capital funds.

What makes the calculation and comprehensive case questions challenging?

CICPA Accounting calculation and comprehensive case questions require candidates to construct complex, multi-year journal entries and schedules. Typical problems involve step acquisitions (e.g. from 20% equity method to 60% control), downstream and upstream intra-group inventory/fixed asset eliminations with deferred tax impacts, lease remeasurements, three-stage ECL transitions, and diluted EPS calculations with multi-tranche convertible debt.

How should I structure my preparation for CICPA Accounting?

Most successful candidates dedicate 350 to 450 hours of study over 4 to 6 months. Begin by mastering foundational accounting chapters (fixed assets, inventory, intangible assets), advance through complex transaction standards (financial instruments, revenue, leases, deferred taxes), and devote the final 6 to 8 weeks to mastering long-term equity investments, business combinations, and consolidated financial statements through intensive multi-part practice problems.