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100+ Free CICPA Economic Law (China) Practice Questions

Prepare for the CICPA Uniform Examination — Professional Stage: Economic Law (注册会计师全国统一考试专业阶段 — 经济法) exam with instant access — no signup required.

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2026 Statistics

Key Facts: CICPA Economic Law (China) Exam

2023 Company Law (July 1, 2024)

Latest Statutory Corporate Law Overhaul Evaluated

National People's Congress Standing Committee

60 / 100 (60%)

Official Passing Score with 5-Year Rolling Validity

Ministry of Finance Certified Public Accountant Examination Committee

120 Minutes (2.0 Hours)

Computer-Based Examination Duration

CICPA Examination Guidelines

5 Years

Mandatory Maximum Paid-in Capital Contribution Period for LLCs

PRC Company Law (2023) Article 47

¥60 – ¥90 RMB

Standard Subject Examination Registration Fee

Provincial CPA Institutes / Finance Bureaus

The CICPA Economic Law examination is China's official statutory legal qualification paper for certified public accountants. Administered by CICPA and the Ministry of Finance, it rigorously tests mastery of the PRC Civil Code, Property and Contract Law, the 2023 Company Law revision, Securities Law registration system, Enterprise Bankruptcy Law, Negotiable Instruments Law, State-Owned Assets Law, and Anti-Monopoly Law.

Sample CICPA Economic Law (China) Practice Questions

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

1Under the General Principles of the PRC Civil Code (民法典总则编), which of the following acts constitutes a unilateral civil juridical act (单方民事法律行为) that takes legal effect upon the manifestation of intention by a single party?
A.Executing a commercial sales contract (订立买卖合同)
B.Executing a gratuitous gift agreement (订立赠与合同)
C.Drawing up and executing a testamentary will (立遗嘱)
D.Establishing a partnership agreement (订立合伙协议)
Explanation: Under PRC Civil Code Art. 133 and 134, a unilateral civil juridical act (单方民事法律行为) is established and takes legal effect based on the unilateral expression of intent by a single party without requiring the consent or acceptance of another party. Making a testamentary will (立遗嘱), granting power of attorney (委托授权), exercising a right of revocation (行使撤销权), and ratifying an unauthorized act (追认) are classic unilateral acts. In contrast, contracts—even gratuitous ones such as gifts (赠与合同)—are bilateral juridical acts (双方民事法律行为) requiring mutual consent (offer and acceptance).
2Zhang, a 16-year-old high school student who is not living independently on his own labor income, independently purchased a high-end luxury watch valued at RMB 80,000 using his pocket money without his parents' prior consent. Under the PRC Civil Code, what is the legal validity of this contract before Zhang's parents are notified?
A.The contract is completely void ab initio (自始无效).
B.The contract is valid and fully enforceable (有效).
C.The contract is inchoate / subject to ratification (效力待定).
D.The contract is revocable at Zhang's sole discretion within 1 year (可撤销).
Explanation: Under PRC Civil Code Art. 19 and 145, a minor aged 8 or above is a person with limited capacity for civil conduct (限制民事行为能力人). Civil juridical acts performed by such a person that are purely beneficial or compatible with their age, intelligence, and mental health are valid. Other civil juridical acts are inchoate / have pending validity (效力待定) and become effective only after ratification by their statutory agent (parents). The counterparty may demand that the statutory agent ratify within 30 days; failure to respond is deemed a refusal.
3Company A and Company B agreed that Company A would purchase an industrial parcel from Company B on the condition that Company A obtains municipal environmental zoning clearance within six months. Company B subsequently received a higher purchase offer from Company C and deliberately submitted falsified obstruction documents to the zoning board to ensure Company A's permit was rejected. Under PRC Civil Code Article 159, what is the legal consequence of Company B's conduct?
A.The purchase contract between Company A and Company B is void due to frustration of purpose.
B.The suspensive condition is deemed to have been fulfilled (视为条件已成就).
C.The contract automatically transforms into an unconditional lease agreement.
D.Company A may only seek tort damages, and the condition remains unfulfilled.
Explanation: According to Article 159 of the PRC Civil Code, where a civil juridical act is subject to a condition, if a party improperly prevents the fulfillment of the condition for their own benefit, the condition shall be deemed to have been fulfilled (不正当阻止条件成就的，视为条件已成就). Conversely, if a party improperly promotes the fulfillment of a condition, the condition shall be deemed not to have been fulfilled. Because Company B maliciously obstructed the environmental permit to pursue a higher bid, the condition is legally deemed fulfilled, making the purchase contract fully binding on Company B.
4Under the PRC Civil Code, which of the following civil juridical acts is legally VOID ab initio (自始无效) rather than merely revocable (可撤销)?
A.A contract entered into by an enterprise under fraudulent misrepresentation by the counterparty regarding raw material origins.
B.A property transfer executed through malicious collusion (恶意串通) between the debtor and a third party to evade a lawful court debt enforcement.
C.A sales contract concluded under major misunderstanding (重大误解) regarding the technical specification of specialized machinery.
D.A commercial loan agreement entered into under duress (胁迫) without state security involvement.
Explanation: Under PRC Civil Code Art. 154, a civil juridical act conducted through malicious collusion (恶意串通) between the actor and the counterparty that damages the lawful rights and interests of the state, the collective, or a third party is completely VOID ab initio. In contrast, acts concluded due to fraud (Art. 148), duress (Art. 150), major misunderstanding (Art. 147), or gross unconscionability (Art. 151) are revocable civil juridical acts (可撤销民事法律行为) that remain valid until revoked by a court or arbitration tribunal.
5Under Article 152 of the PRC Civil Code, within what statutory timeframe must a party who entered into a contract due to major misunderstanding (重大误解) exercise their right of revocation (撤销权) before that right is permanently extinguished?
A.Within 30 days from the date the party knew or should have known of the cause for revocation.
B.Within 90 days from the date the party knew or should have known of the cause for revocation.
C.Within 1 year from the date the party knew or should have known of the cause for revocation.
D.Within 3 years from the date the contract was executed.
Explanation: According to Article 152 of the PRC Civil Code, the right of revocation for major misunderstanding (重大误解) must be exercised within 90 days from the date the party knew or should have known of the ground for revocation. For fraud or gross unconscionability, the period is 1 year from discovery; for duress, it is 1 year from the date the duress terminates. In all cases, the absolute maximum long-stop period is 5 years from the date the act occurred.
6Principal A issued a written power of attorney to Agent B stating only: 'Agent B is fully authorized to handle all commercial procurement matters for our regional branch,' without specifying the purchase cap, permitted goods, or credit limits. Agent B subsequently entered into a highly speculative RMB 10 million procurement contract with Supplier C, which Principal A refuses to honor. Under PRC Civil Code Article 165, how is civil liability allocated?
A.The contract is completely void, and Supplier C must bear all losses independently.
B.Principal A shall bear civil liability to Supplier C, and Agent B shall bear joint and several liability (连带责任).
C.Agent B shall bear sole liability to Supplier C, and Principal A has no statutory obligation.
D.Principal A and Supplier C must divide the contract liability equally under comparative fault.
Explanation: PRC Civil Code Art. 165 explicitly provides: 'Where the authorization in a power of attorney is not clear, the principal shall bear civil liability to the third party, and the agent shall bear joint and several liability (授权委托书授权不明的，被代理人应当向第三人承担民事责任，代理人负连带责任).' This statutory rule protects innocent commercial third parties against poorly drafted authorizations while maintaining recourse against the agent.
7Sales Representative Zhao was dismissed by Company X on June 1. On June 10, Zhao, still possessing expired business cards but no company seals or power of attorney, signed an equipment purchase contract in the name of Company X with Vendor Y. Vendor Y was fully aware of Zhao's dismissal. Under PRC Civil Code Article 171, what rights does Vendor Y have regarding this unauthorized agency (无权代理) act?
A.Vendor Y has the right to demand (催告) that Company X ratify the contract within 30 days, and has the right to withdraw (撤销) the contract at any time.
B.Vendor Y has the right to demand (催告) that Company X ratify the contract within 30 days, but does NOT have the right of withdrawal (撤销权).
C.Vendor Y has no right to demand ratification, and the contract is automatically binding on Company X.
D.Vendor Y may directly enforce the contract against Company X's shareholders.
Explanation: Under PRC Civil Code Art. 171, in unauthorized agency (无权代理), any counterparty has the right to demand (催告) that the principal ratify the act within 30 days (silence equals refusal). However, the right of withdrawal (撤销权) prior to ratification belongs STRICTLY to a good-faith counterparty (善意相对人). Because Vendor Y knew of Zhao's dismissal at the time of signing, Vendor Y is in bad faith (非善意) and therefore possesses only the demand right (催告权), not the right of withdrawal.
8Manager Qian was the authorized regional procurement head for Firm M. After Firm M secretly revoked Qian's purchasing authority on July 1, Firm M neglected to retrieve Qian's formal blank contracts stamped with Firm M's official contract chop (合同专用章) and introduced Qian as regional head on its corporate website. On July 15, Qian signed an RMB 5 million purchase agreement with Supplier N using the stamped contract. Under PRC Civil Code Article 172, what is the legal characterization and effect of this transaction?
A.It constitutes an invalid contract due to lack of actual agency authority.
B.It constitutes apparent agency (表见代理), and the contract is legally valid and binding on Firm M.
C.It constitutes unauthorized agency where Firm M may unilaterally declare the contract void without liability.
D.It constitutes a revocable contract that Supplier N must petition the court to validate within 90 days.
Explanation: Under PRC Civil Code Art. 172, where an actor performs an act of agency without authority, beyond authority, or after termination of authority, and the counterparty has reasonable grounds to believe that the actor possesses authority (having authentic stamped contracts, lingering appearance created by the principal), the act constitutes Apparent Agency (表见代理). The act is legally valid and directly binding upon the principal (Firm M). Firm M must perform the contract with Supplier N and may subsequently seek internal indemnification from Qian.
9Under Article 188 of the PRC Civil Code, what is the general statute of limitations (普通诉讼时效期间) for civil claims, and what is the absolute maximum limitation period (最长权利保护期间) from the date the infringement occurred?
A.General period: 2 years; Maximum period: 10 years.
B.General period: 3 years; Maximum period: 20 years.
C.General period: 4 years; Maximum period: 20 years.
D.General period: 5 years; Maximum period: 30 years.
Explanation: Under PRC Civil Code Art. 188, the general statute of limitations for civil claims is 3 years (三年), commencing from the date the obligee knows or should have known that their right was infringed and who the obligor is. The absolute maximum protection period is 20 years (二十年) from the date the infringement occurred. Under special circumstances, the court may extend the 20-year period upon application.
10Creditor K held a mature loan claim of RMB 2 million against Debtor L, with the 3-year statute of limitations set to expire on December 31, 2025. On November 15, 2025, Creditor K sent a written debt demand letter to Debtor L by registered mail, which Debtor L signed and acknowledged on November 18, 2025. Under the PRC Civil Code, what is the legal effect of this event on the statute of limitations?
A.The statute of limitations is suspended (中止), and the remaining period is extended by 6 months after November 18.
B.The statute of limitations is interrupted (中断), and a new 3-year statute of limitations begins running from November 18, 2025.
C.The statute of limitations is permanently waived, and the claim becomes enforceable indefinitely.
D.The demand letter has no legal effect on the statute of limitations unless confirmed by a notary or court.
Explanation: Under PRC Civil Code Art. 195, the statute of limitations is Interrupted (诉讼时效中断) where: (1) The obligee demands performance; (2) The obligor agrees to perform; (3) The obligee initiates litigation or applies for arbitration; or (4) Other acts of equivalent effect occur. Upon interruption, the elapsed time is disregarded, and a brand new 3-year statute of limitations commences from the date of the interrupting event (November 18, 2025).

About the CICPA Economic Law (China) Exam

The Economic Law (经济法) paper of the China Certified Public Accountant (CICPA) Uniform Examination is a premier statutory professional licensure examination in the People's Republic of China. Governed by the Ministry of Finance and administered nationwide by CICPA, this subject evaluates candidates on their deep understanding and practical application of commercial, corporate, securities, bankruptcy, civil, and competition legal frameworks. Certified Public Accountants in China require comprehensive legal expertise to conduct statutory financial statement audits, assess legal contingencies, structure mergers and acquisitions, audit internal controls, evaluate insolvency proceedings, and ensure regulatory compliance in capital markets. The examination syllabus reflects major legislative overhauls including the PRC Civil Code (民法典), the 2023 Revised PRC Company Law (effective July 1, 2024), the Comprehensive Registration-Based IPO System (全面注册制), the 2022 Revised Anti-Monopoly Law, and the Foreign Investment Law.

Assessment

Professional Stage — Economic Law (专业阶段 经济法): 120-minute computer-based exam (机考) featuring 24 Single-Choice Questions (单选题, 24 pts), 14 Multiple-Response Questions (多选题, 21 pts), and 4 Comprehensive Case Analysis Questions (案例分析题, 55 pts, one case problem may offer 5 bonus points for answering in English). Total score: 100 (+5 bonus) points.

Time Limit

120 minutes (2.0 hours)

Passing Score

60 / 100 points (60%)

Exam Fee

¥60 – ¥90 RMB per subject paper (Chinese Institute of Certified Public Accountants (中国注册会计师协会 / CICPA) under the Ministry of Finance PRC (中华人民共和国财政部))

CICPA Economic Law (China) Exam Content Outline

10%

General Principles of Civil Law (民事法律制度)

Covers civil juridical acts, conditions and time limits, void civil acts, revocable civil acts (90-day, 1-year, and 5-year limitation periods), agency authority, unauthorized agency, apparent agency (表见代理), and general statute of limitations rules (3-year general period, suspension 中止, interruption 中断, and 20-year maximum protection).

11%

Material Rights & Property Law (物权法律制度)

Encompasses creation and transfer of real property and movable property rights, pre-notice registration (预告登记), bona fide acquisition (善意取得), co-ownership, right of habitation (居住权), mortgages (Art. 406 transfer of mortgaged property, floating mortgages, priority of mortgages), pledges of movable property and rights, commercial liens, and statutory priority ranking (Lien > Registered Mortgage > Pledge > Unregistered Mortgage).

13%

Contract Law (合同法律制度)

Addresses contract formation, offer and acceptance, standard clauses, defenses during performance (simultaneous performance, prior performance, defense of insecurity 不安抗辩权), creditor's subrogation right (代位权), creditor's revocation right (撤销权), breach of contract remedies, liquidated damages 30% adjustment, deposit rules (20% cap), risk of loss in sales contracts, lease contracts and tenant preemptive rights, and construction lien priority (工程价款优先受偿权).

16%

Company Law — 2023 Revision (公司法律制度)

Focuses on the 2023 PRC Company Law overhaul: mandatory 5-year paid-in capital timeline for LLCs, non-monetary contribution valuation, shareholder equity forfeiture (失权制度), accelerated maturity of capital contribution (Art. 54), LLC equity transfer rules (elimination of shareholder consent requirement, 30-day preemptive right), Audit Committee governance structure, shadow directors and controlling shareholder liability, horizontal veil piercing across sister companies, dissenting shareholder appraisal rights, and formal vs simplified capital reduction.

14%

Securities Law & Capital Markets (证券法律制度)

Covers the Comprehensive Registration-Based IPO System (全面注册制), public and non-public offering conditions for shares and bonds, Major Asset Restructuring (50% thresholds), Backdoor Listing (100% threshold), 5% shareholding disclosure triggers, tender offers, short-swing profit disgorgement (6-month rule), insider trading, market manipulation, auditor misrepresentation liability, and investor protection special representative litigation.

13%

Enterprise Bankruptcy Law (企业破产法律制度)

Encompasses bankruptcy grounds and acceptance effects (stay of enforcement, lifting property preservation, claim acceleration), administrator duties and powers over bilateral unperformed contracts, 1-year avoidance clawbacks (Art. 31), 6-month individual preference clawbacks (Art. 32), right of retrieval, bankruptcy set-off, reorganization procedure and court cramdown confirmation, conciliation, and the liquidation distribution waterfall.

10%

Negotiable Instruments Law (票据法律制度)

Addresses the non-causal principle of bills, 7 absolute required particulars of bills of exchange, continuous endorsement, prohibited endorsement clauses, bill guarantee joint and several liability, presentment deadlines (draft 10 days, check 10 days, promissory note 2 months), right of recourse hierarchies and statutory time bars, promissory notes, and checks.

6%

Enterprise State-Owned Assets Law (企业国有资产法律制度)

Focuses on SASAC performing contributor responsibilities, major corporate governance decisions in SOEs, mandatory state-owned asset appraisal triggers, 1-year appraisal report validity, and mandatory public listing on property rights exchanges (产权进场交易) with 90% floor pricing rules.

4%

Anti-Monopoly & Anti-Unfair Competition Law (反垄断与反不正当竞争法律制度)

Covers horizontal and vertical monopoly agreements (RPM), leniency program, market dominance presumptions, 2024 updated merger notification turnover thresholds, administrative monopoly, commercial bribery, and trade secret protection.

3%

Foreign Direct Investment Law (外商投资法律制度)

Covers Foreign Investment Law: Pre-establishment national treatment plus negative list management, foreign investment security review mechanism, 5-year corporate governance transition for existing FIEs, and foreign exchange administration.

How to Pass the CICPA Economic Law (China) Exam

What You Need to Know

  • Passing score: 60 / 100 points (60%)
  • Assessment: Professional Stage — Economic Law (专业阶段 经济法): 120-minute computer-based exam (机考) featuring 24 Single-Choice Questions (单选题, 24 pts), 14 Multiple-Response Questions (多选题, 21 pts), and 4 Comprehensive Case Analysis Questions (案例分析题, 55 pts, one case problem may offer 5 bonus points for answering in English). Total score: 100 (+5 bonus) points.
  • Time limit: 120 minutes (2.0 hours)
  • Exam fee: ¥60 – ¥90 RMB per subject paper

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 Economic Law (China) Study Tips from Top Performers

1Master the 2023 Company Law Updates: Focus on the 5-year capital contribution deadline, equity forfeiture (60-day demand notice, 6-month resolution/transfer), accelerated maturity under Article 54, LLC equity transfer notice rules, and Audit Committee options.
2Understand Real Property vs Movable Property Rules (Civil Code): Remember that real property rights generally take effect upon registration (登记生效), while movable property rights take effect upon delivery (交付生效). Know the 90-day rule for pre-notice registration (预告登记).
3Internalize Security Property Priority Rankings: Commit to memory the statutory hierarchy: Statutory Possessory Lien (留置权) > Registered Mortgage (已登记抵押权) / Perfected Pledge (质权) > Unregistered Mortgage (未登记抵押权). For multiple registered mortgages, priority is determined strictly by the chronological order of registration.
4Master Contract Defenses and Creditor Clawbacks: Distinguish Defense of Insecurity (不安抗辩权: requires conclusive proof of insolvency) from Simultaneous Performance. Remember the 1-year discovery period and 5-year absolute cutoff for Creditor's Revocation Right (撤销权).
5Differentiate Bankruptcy Clawback Timelines: Memorize the 1-year clawback window under Enterprise Bankruptcy Law Article 31 (undervalue sales, gratuitous transfers, new security for pre-existing debts) vs the 6-month individual preference clawback window under Article 32.
6Master Commercial Bill Endorsement & Recourse Hierarchies: Remember that an endorser writing 'not negotiable' (不得转让) is not liable to subsequent parties, whereas a drawer writing 'not negotiable' prevents any valid negotiation. Know the 2-year recourse period against the drawer/acceptor vs 6 months against prior endorsers.
7Learn Merger Notification and Dominance Thresholds: Memorize the 2024 updated merger control thresholds (Global > RMB 12B & PRC > RMB 800M for two firms, or PRC > RMB 4B & PRC > RMB 800M for two firms) and market dominance share presumptions (1 firm >= 50%, 2 firms >= 66.7%, 3 firms >= 75%).

Frequently Asked Questions

What is the CICPA Economic Law (注册会计师 经济法) examination?

Economic Law is one of the six compulsory subjects in the Professional Stage of the China Certified Public Accountant (CICPA) Uniform Examination, administered by the Ministry of Finance and the Chinese Institute of Certified Public Accountants. It evaluates a candidate's mastery of PRC civil, commercial, corporate, securities, bankruptcy, negotiable instruments, state-owned assets, competition, and foreign investment laws essential for statutory auditing, capital market transactions, and corporate governance.

What is the official format, timing, and passing mark of the exam?

The examination is conducted as a 120-minute (2.0 hours) computer-based test (机考) scored out of 100 points. The passing score is 60 points (60%). The official question paper consists of Single-Choice Questions (24 pts), Multiple-Response Questions (21 pts), and 4 Comprehensive Case Analysis Questions (55 pts, with an optional 5-point English response bonus).

How are passing scores managed across the 6 Professional Stage subjects?

Professional Stage examination scores are managed on a rolling 5-year basis (5年滚动管理). A candidate who passes any Professional Stage subject has a 5-year window to pass all remaining five subjects. Upon passing all six subjects, the candidate is awarded the permanent Professional Stage Certificate (专业阶段合格证), which qualifies them indefinitely to sit for the Comprehensive Stage Examination (综合阶段考试).

How does the 2023 Revised PRC Company Law impact the exam syllabus?

The 2023 PRC Company Law revision (effective July 1, 2024) represents the most significant corporate law overhaul in nearly two decades. Core testable revisions include the mandatory 5-year registered capital paid-in requirement for LLCs (Art. 47), the shareholder equity forfeiture mechanism for non-payment (失权制度, Art. 51-52), statutory accelerated maturity of capital contributions during insolvency (Art. 54), simplified LLC equity transfer rules (Art. 84), the option for an Audit Committee of the Board to replace the Supervisory Board (Art. 69/121), horizontal piercing of the corporate veil between affiliated sister companies (Art. 23), and simplified capital reduction procedures (简易减资, Art. 225).

Why is this OpenExamPrep study module adapted into English?

While the official statutory examination in China is administered strictly in Chinese, this OpenExamPrep question bank provides an authoritative English-language adaptation designed for bilingual accountants, multinational audit teams, cross-border corporate counsel, and overseas professionals. All core legal concepts, standard legal terms (e.g., 表见代理, 善意取得, 留置权, 出资加速到期, 破产撤销权, 票据追索权), and statutory code references are presented with bilingual annotations and rigorous legal reasoning.