Free Practice Questions for Korea Cost Analyst (원가분석사)

Subject 1: Financial Accounting (재무회계)

Covers financial accounting concepts, qualitative characteristics under K-IFRS, balance sheet and comprehensive income presentation, inventory cost formulas (FIFO, weighted average) and lower-of-cost-and-NRV evaluation, property, plant, and equipment (PPE) acquisition costs, depreciation methods (straight-line, declining balance, sum-of-years-digits), provisions and contingent liabilities, bonds payable amortization under the effective interest method, equity classification, K-IFRS 1115 5-step revenue recognition, percentage-of-completion construction accounting, statement of cash flows, and financial ratio analysis for pre-qualification in public tenders.

Subject 2: Cost and Managerial Accounting (원가관리회계)

Covers cost classifications (direct, indirect, fixed, variable, sunk, and opportunity costs), high-low mixed cost estimation, predetermined manufacturing overhead allocation in job-order costing, weighted-average and FIFO process costing equivalent unit calculations, normal vs abnormal spoilage, joint product and by-product cost allocation (NRV method), activity-based costing (ABC) cost hierarchy, absorption vs variable costing net income differences, standard costing variance analysis (direct materials price/quantity and direct labor rate/efficiency variances), and cost-volume-profit (CVP) break-even analysis, margin of safety, and special decision making.

Subject 3: Manufacturing Cost Practice (제조원가계산실무)

Focuses on government procurement manufacturing cost estimation under the State Contract Act Enforcement Decree and Contract Price Calculation Rules: direct vs indirect materials, scrap value deduction, wage survey rate application (중소제조업 직종별 임금조사), statutory bonus caps (400%) and severance allowance (1/12), indirect labor ratios, statutory manufacturing expense items (depreciation, power, transport, outsourcing fees), general administrative expense ratio ceiling (8%), profit calculation formula and ceiling (25% strictly excluding material costs), imported goods costing, and defense procurement allowable cost principles.

Subject 4: Construction and Service Cost Practice (공사 및 용역원가계산실무)

Covers pure construction cost breakdown (materials, labor, expenses), standard production rates (표준품셈) vs standard market unit prices (표준시장단가), statutory social insurance contributions (health, pension, employment, industrial accident) and mandatory post-settlement, occupational safety and health management expenses (산업안전보건관리비), general administrative expense cap (6%) and profit cap (15%) for construction, academic research service costing and non-profit rules, engineering service cost-plus-fixed-fee method (제경비 110-120%, 기술료 20-40%), software development function point (FP) estimation, and general service costing.

Subject 5: Cost Regulations and Contract Systems (원가관련법규 및 계약제도)

Examines South Korean public contracting statutes: State Contract Act and Local Contract Act frameworks, open vs restricted vs private contract (수의계약) standards and monetary thresholds, estimated price (예정가격) confidentiality and calculation rules, multiple preliminary prices (복수예비가격) selection, qualification examination system (적격심사제) scoring, comprehensive evaluation bidding, bid/contract guarantees and forfeiture, liquidated damages for delay (지체상금), contract price escalation due to inflation (물가변동 조정 90 days / 3%), design change price adjustments, Subcontracting Fairness Act protections, direct payment requests, and illegal bidder sanctions.