100+ Free CTA Finance & Accounting Practice Questions

Financial Management Fundamentals & Time Value (财务管理基础与货币时间价值)

Financial goals, agency theory, interest rate components, compounding, ordinary annuities, annuities due, deferred annuities, perpetuities, risk-return trade-offs, standard deviation, coefficient of variation, portfolio diversification, beta coefficient, and the Capital Asset Pricing Model (CAPM).

Capital Financing, Cost of Capital & Capital Structure (筹资管理与资本成本)

Financing instruments, equity vs debt capital, flotation costs, after-tax cost of debt, cost of equity (dividend growth model and CAPM), Weighted Average Cost of Capital (WACC), Degree of Operating Leverage (DOL), Degree of Financial Leverage (DFL), Degree of Total Leverage (DTL), and capital structure optimization (EBIT-EPS analysis, MM propositions, trade-off theory).

Investment Decisions & Working Capital Management (投资管理与营运资金)

Capital budgeting project cash flows (initial investment, operating cash flows with tax depreciation shields, terminal recovery), Net Present Value (NPV), Internal Rate of Return (IRR), Payback Period, Profitability Index (PI), Baumol and Miller-Orr cash models, credit policy analysis, Economic Order Quantity (EOQ) with quantity discounts, and trade credit discount cost calculations.

Financial Analysis & Evaluation (财务分析与评价)

Liquidity and solvency ratios (current ratio, quick ratio, cash ratio, debt-to-assets, debt-to-equity), operating efficiency ratios (inventory turnover, days sales outstanding DSO), profitability ratios, DuPont analysis (ROE decomposition into profit margin, total asset turnover, and equity multiplier), and Economic Value Added (EVA).

Current Assets & Inventories (流动资产与存货计量)

Cash management, bank reconciliations, expected credit loss (ECL) bad debt allowance under CAS 22, accounts and notes receivable discounting with/without recourse, initial inventory cost determination, planned cost method and materials cost variance allocation, and lower of cost and net realizable value (NRV) valuation under CAS 1.

Non-Current Assets: Fixed, Intangibles & Investment Property (非流动资产：固定资产、无形资产与投资性房地产)

Cost capitalization of self-constructed fixed assets, deferred payment financing, straight-line, double-declining balance, and sum-of-the-years'-digits depreciation, subsequent expenditures, disposal accounting, intangible asset R&D phase distinction under CAS 6, finite vs indefinite life intangibles, land use right accounting, asset impairment non-reversibility under CAS 8, and investment property cost vs fair value models under CAS 3.

Financial Assets & Long-Term Equity Investments (金融资产与长期股权投资)

Three-category financial asset framework under CAS 22 (Amortized Cost, FVOCI debt/equity, FVTPL), initial transaction costs, effective interest method, ECL impairment, OCI recycling rules, long-term equity investments under CAS 2 (common control vs non-common control business combinations), cost method, equity method adjustments for investee profit/OCI, internal transaction eliminations, and classification transitions.

Liabilities, Leases & Owner's Equity (负债、租赁与所有者权益)

Current liabilities, employee benefits under CAS 9, VAT output/input tax and input tax transfer-out, consumption tax on self-produced goods, bonds payable amortized cost, borrowing cost capitalization under CAS 17, lease liabilities and Right-of-Use assets under CAS 21, provisions under CAS 13, share capital premium, statutory surplus reserve (10% rule), and recyclable vs non-recyclable OCI.

Revenue, Income Taxes & Accounting Adjustments (收入、所得税与会计调整)

CAS 14 five-step revenue model (distinct performance obligations, transaction price with variable consideration/financing component, point-in-time vs over-time), contract costs, CAS 18 balance sheet liability method for deferred income taxes (tax bases, temporary differences, DTA/DTL calculations), CAS 28 accounting policy vs estimate changes, CAS 29 post-balance sheet adjusting events, and statement of cash flows classification.