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Free Practice Questions for Certified Public Accountant Examination

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Key Facts: Certified Public Accountant Examination Exam

19,500 JPY

Statutory non-refundable CPA examination fee

CPAAOB 令和8年公認会計士試験受験案内

500 pts / 325 min

Short-answer total points and 令和8 session times (150+75+50+50)

CPAAOB 令和8年公認会計士試験受験案内

~70% / 40% floor

Short-answer passing benchmark and per-subject floor

CPAAOB 令和8年公認会計士試験受験案内

~52% / 40% floor

Essay passing benchmark and per-subject floor

CPAAOB 令和8年公認会計士試験受験案内

Open eligibility

No age, nationality, or education restriction to sit

CPAAOB 令和8年公認会計士試験受験案内

Japan's CPA exam is run by CPAAOB under the FSA. 令和8 short-answer: 325 minutes, 500 points, ~70% pass and 40% floor, 19,500 JPY. Essay: 700 points over three days, ~52% pass. This bank is independent English MCQ study, not the official Japanese papers.

Sample Certified Public Accountant Examination Practice Questions

Try these sample questions to review concepts for the Certified Public Accountant Examination exam. Each question includes a detailed explanation. Start the interactive quiz above for the full 100+ question experience with AI tutoring.

1Under the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29), which of the following represents Step 2 of the five-step model for revenue recognition?
A.Identify the contract with a customer
B.Identify the performance obligations in the contract
C.Determine the transaction price
D.Allocate the transaction price to the performance obligations
Explanation: Step 2 of the ASBJ Statement No. 29 five-step framework is identifying the distinct performance obligations promised in the contract. Step 1 is identifying the contract, Step 3 is determining the transaction price, Step 4 is allocating the transaction price to each performance obligation, and Step 5 is recognizing revenue when or as obligations are satisfied.
2In the ASBJ discussion paper 討議資料「財務会計の概念フレームワーク」, decision-usefulness (意思決定有用性) is supported by exactly two lower-level qualitative characteristics. Which pair is correct?
A.Relevance to decision-making (意思決定との関連性) and reliability (信頼性)
B.Relevance to decision-making (意思決定との関連性) and internal consistency (内的整合性)
C.Comparability (比較可能性) and understandability
D.Reliability (信頼性) and prudence
Explanation: The ASBJ framework places 意思決定有用性 at the top and states that it is supported by two lower-level characteristics: 意思決定との関連性, underpinned by 情報価値の存在 and 情報ニーズの充足, and 信頼性, underpinned by 表現の忠実性, 検証可能性, and 中立性. The two can trade off against each other. Note that the Japanese framework keeps 信頼性 as the second pillar; it does not use the IASB pairing of relevance with faithful representation, under which 表現の忠実性 would sit at the top level instead of inside reliability.
3Under the Accounting Standard for Impairment of Fixed Assets in Japan, what is the prerequisite event required before an entity determines whether an impairment loss must be recognized?
A.An indication of impairment (減損の兆候) must exist for the asset or asset group
B.The market value of the asset must fall below 50% of its book value in every case
C.The asset must generate negative operating cash flows for three consecutive fiscal years
D.A formal board of directors resolution to dispose of the asset must be passed
Explanation: Japanese impairment accounting follows a three-step process: first, identifying asset grouping and testing for an indication of impairment (減損の兆候). Only if an indication exists does the entity perform the second step (testing whether undiscounted future cash flows are less than carrying amount), followed by measurement of the impairment loss in step three.
4Under the Accounting Standard for Financial Instruments in Japan, how must Held-to-Maturity Bonds (満期保有目的の債券) be measured on the balance sheet at fiscal year-end?
A.At fair value with unrealized gains or losses recognized in net profit or loss
B.At fair value with unrealized gains or losses recognized directly in net assets
C.At amortized cost (償却原価法)
D.At acquisition cost without any adjustment regardless of purchase discount or premium
Explanation: Held-to-maturity debt securities are held with the positive intent and ability to hold until maturity. Under Japanese GAAP, if the acquisition cost differs from the face value and the difference represents interest adjustment, they must be measured at amortized cost (typically using the effective interest method).
5Under the Accounting Standard for Measurement of Inventories (ASBJ Statement No. 9), what is the required balance sheet valuation when the net realizable value (正味売却価額) falls below acquisition cost at fiscal year-end?
A.Inventories must continue to be carried at historical acquisition cost unless discarded
B.Inventories must be written down to net realizable value, with the write-down recognized as an expense/loss for the period
C.Inventories must be revalued to replacement cost with the reduction charged directly to capital surplus
D.The loss is deferred on the balance sheet as a prepaid asset until the inventory is actually sold
Explanation: Under ASBJ Statement No. 9, inventories held for normal sale must be measured at the lower of acquisition cost or net realizable value (低価基準). When net realizable value falls below cost, the difference is written down and recognized as an expense (loss on valuation of inventory / 棚卸資産評価損) in the current period.
6Under current Japanese lease accounting standards, which condition automatically classifies a finance lease as an Ownership-Transfer Finance Lease (所有権移転ファイナンス・リース)?
A.The lease term equals 75% or more of the estimated economic useful life of the leased asset
B.The present value of total lease payments equals 90% or more of the cash purchase price
C.The lease contract contains a bargain purchase option that the lessee is reasonably certain to exercise
D.The maintenance and insurance costs are borne by the lessee
Explanation: A finance lease is classified as ownership-transfer if (1) ownership transfers to the lessee at term-end, (2) the contract grants a bargain purchase option that is virtually certain to be exercised, or (3) the asset is specially customized so that only the lessee can use it. The 75% and 90% criteria classify a transaction as a finance lease in general, but not specifically ownership-transfer.
7Under the Accounting Standard for Asset Retirement Obligations (ASBJ Statement No. 18), how is an asset retirement obligation initially recognized upon acquisition of tangible fixed assets?
A.As an immediate non-operating expense for the undiscounted estimated retirement amount
B.As a liability measured at the discounted present value of expected retirement costs, with an identical amount added to the carrying cost of the related fixed asset
C.As a deduction from equity under capital surplus with no asset entry
D.As a contingent liability disclosed only in notes until the physical demolition commences
Explanation: Under ASBJ Statement No. 18, an entity recognizes an asset retirement obligation as a liability measured at the discounted present value of the statutory or contractual removal expenditures. The corresponding debit is added to the carrying amount of the related tangible fixed asset and depreciated over its remaining useful life.
8Under Japanese retirement benefit accounting, which of the following is credited (reduces) net periodic retirement benefit cost in the income statement?
A.Service cost (勤務費用)
B.Interest cost (利息費用)
C.Expected return on plan assets (期待運用収益)
D.Amortization of actuarial loss (数理計算上の差異の費用処理)
Explanation: Retirement benefit expense recognized in profit or loss consists of service cost (+) plus interest cost (+) minus expected return on plan assets (−) plus/minus amortization of actuarial differences and prior service costs. Therefore, expected return on plan assets reduces total retirement benefit cost.
9In tax effect accounting under Japanese GAAP, which of the following creates a Deductible Temporary Difference (将来減算一時差異)?
A.Accrued bonus expenses recognized for accounting purposes that exceed the tax deduction limit in the current year
B.Gain on valuation of trading securities recognized for accounting purposes before realization
C.Special tax-purpose reserve for accelerated depreciation recognized through an appropriation of retained earnings
D.Tax-exempt dividend income received from domestic subsidiaries
Explanation: A deductible temporary difference arises when an expense or loss is recognized in financial accounting earlier than for tax purposes (such as accrued bonuses or excess bad debt provisions). In future periods when paid, taxable income will be lower than accounting income, giving rise to a deferred tax asset.
10Under the Accounting Standard for Business Combinations (ASBJ Statement No. 21), how must the identifiable assets acquired and liabilities assumed in an acquisition be recognized on the acquisition date?
A.At their carrying book values on the acquiree's books immediately prior to the combination
B.At fair value (時価) on the acquisition date
C.At historical cost adjusted for the acquirer's historical inflation rate
D.At the acquiree's tax basis
Explanation: Under the acquisition method prescribed in ASBJ Statement No. 21, the acquirer must measure the identifiable assets acquired and liabilities assumed at their fair values on the acquisition date. The excess of consideration transferred over net identifiable assets at fair value is recognized as goodwill.

About the Certified Public Accountant Examination Exam

The Certified Public Accountant Examination (公認会計士試験) is Japan's national CPA qualifying exam under the Certified Public Accountants Act. CPAAOB, an FSA commission, administers it. 令和8受験案内 sets a 19,500 JPY fee, open eligibility, Japanese short-answer mark-sheets twice a year and a Japanese essay stage once a year. Short-answer papers total 500 points: Financial Accounting 200 points (150 minutes, up to 40 items), Management Accounting 100 (75 minutes, up to 20), Auditing 100 (50 minutes, up to 20), and Corporate Law 100 (50 minutes, up to 20). The passing benchmark is about 70% overall with a 40% subject floor. Essay papers total 700 points over three days (Accounting 300 points / 300 minutes, plus four 100-point / 120-minute papers). OpenExamPrep publishes independent English multiple-choice study for the short-answer subject list. It is not an official translation, not a CPAAOB paper, and not a substitute for writing the essay papers in Japanese.

Exam sponsor: Certified Public Accountants and Auditing Oversight Board (公認会計士・監査審査会, CPAAOB) under the Financial Services Agency. The requirements and fees below concern the certification or admission exam, separate from our free practice resources.

Assessment

National exam under the Certified Public Accountants Act, administered by CPAAOB. Short-answer (mark-sheet) twice a year; essay once a year. Official delivery is Japanese. Short-answer pass ~70% total with 40% subject floor; essay ~52% with 40% floor.

Time Limit

Short-answer: 150 min Financial Accounting, 75 min Management Accounting, 50 min Auditing, 50 min Corporate Law. Essay: Accounting 300 min; Auditing, Corporate Law, Tax Law, and the elective 120 min each.

Passing Score

~70% short-answer (40% subject floor); ~52% essay (40% subject floor). CPAAOB may adjust the ratio it considers appropriate.

Exam / Certification Fees

19,500 JPY (non-refundable statutory fee)

Exam sponsor website

Fees, eligibility, and exam policies can change. Confirm them with the exam sponsor before applying or paying.

Our practice resources: topics covered

We aim to reflect publicly available exam outlines and topic information in our study resources. Coverage, format, and difficulty may differ from the actual exam, and we cannot guarantee that every detail is accurate or current. Confirm exam requirements, fees, and policies with the official exam sponsor.

35% of this local practice set

財務会計論 (Financial Accounting)

ASBJ standards and calculations that carry 200 of 500 short-answer points: revenue, instruments, impairment, leases, consolidations, and tax effect.

25% of this local practice set

管理会計論 (Management Accounting)

Cost Accounting Standards, variances, costing systems, CVP, and capital budgeting (100 of 500 short-answer points).

15% of this local practice set

監査論 (Auditing)

Auditing Standards, quality control, J-SOX, evidence, risk, KAM, opinions, and independence (100 of 500 short-answer points).

15% of this local practice set

企業法 (Corporate Law)

Companies Act governance, shares, directors, reorganizations, and FIEA disclosure basics (100 of 500 short-answer points).

10% of this local practice set

租税法 (Tax Law)

Corporate-tax taxable-income ideas, consumption-tax basics, and withholding concepts used on later CPA sittings.

Preparing for the Certified Public Accountant Examination Exam

What You Need to Know

  • Passing score: ~70% short-answer (40% subject floor); ~52% essay (40% subject floor). CPAAOB may adjust the ratio it considers appropriate.
  • Assessment: National exam under the Certified Public Accountants Act, administered by CPAAOB. Short-answer (mark-sheet) twice a year; essay once a year. Official delivery is Japanese. Short-answer pass ~70% total with 40% subject floor; essay ~52% with 40% floor.
  • Time limit: Short-answer: 150 min Financial Accounting, 75 min Management Accounting, 50 min Auditing, 50 min Corporate Law. Essay: Accounting 300 min; Auditing, Corporate Law, Tax Law, and the elective 120 min each.
  • Exam / certification fees: 19,500 JPY (non-refundable statutory fee) Official sources

Using Our Practice Resources

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Certified Public Accountant Examination: Suggested Study Strategy

1Weight Financial Accounting heavily: it is 200 of 500 short-answer points and 300 of 700 essay points.
2Drill 原価計算基準 classifications and two-way / three-way overhead variances with a four-function calculator, matching short-answer timing.
3Connect Auditing Standards to independence, KAM, and internal-control audit judgments rather than memorizing labels alone.
4Study Companies Act by organ (shareholders meeting vs board) and keep article numbers only when you have opened the statute text.
5Treat this bank as concept and calculation practice. The official essay papers still require Japanese written answers.

Frequently Asked Questions

Who administers the Japan CPA Examination?

The Certified Public Accountants and Auditing Oversight Board (公認会計士・監査審査会, CPAAOB) under the Financial Services Agency administers the exam. JICPA is the professional institute and runs 修了考査 after the exam; it does not set the CPA examination itself.

What are the 令和8 short-answer times and point totals?

CPAAOB's 令和8受験案内 lists Financial Accounting 150 minutes / 200 points (up to 40 items), Management Accounting 75 minutes / 100 points (up to 20), Auditing 50 minutes / 100 points (up to 20), and Corporate Law 50 minutes / 100 points (up to 20).

What is the fee and is it refunded if you do not sit?

The statutory fee is 19,500 JPY. Certified Public Accountants Act Art. 11(2) states it is not refunded if you do not sit.

Is there an education requirement?

No. 令和8受験案内 states there is no eligibility restriction. Anyone may apply for the short-answer stage (subject to the published exemption-routing rules for which sitting to use).

What language is the official exam?

The official papers are administered in Japanese. This OpenExamPrep bank is an English-language MCQ study adaptation, not an official translation and not a simulation of the Japanese language environment or the essay format.

Does passing the exam make you a registered CPA immediately?

No. Passing the essay stage makes you a 公認会計士試験合格者. Registration still requires three years of prescribed practical experience, 実務補習, and passing JICPA's 修了考査.