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Key Facts: OAG Advanced Accounting Course Exam
7 Subjects
Curriculum subjects evaluated in the Advanced Course examination
Office of the Auditor General training curriculum
75% Attendance
Required attendance threshold to sit the course examination
Office of the Auditor General training regulations
Gazetted Level
Targeted at civil service accounts officers and gazetted personnel
Office of the Auditor General course eligibility rules
The OAG Advanced Accounting Course Examination tests senior gazetted and accounting civil servants across 7 subjects upon completing an intensive two-month training program. Candidates must satisfy a 75% attendance threshold to take the examination, with performance rated Above Normal, Normal, or Below Normal.
Sample OAG Advanced Accounting Course Practice Questions
Try these sample questions to review concepts for the OAG Advanced Accounting Course exam. Each question includes a detailed explanation. Start the interactive quiz above for the full 92+ question experience with AI tutoring.
1Under the Myanmar Companies Law 2017 (MCL 2017), what is the statutory minimum requirement regarding shareholders and directors for incorporating a private company limited by shares?
A.At least two shareholders and at least two directors, both of whom must be Myanmar citizens
B.At least one shareholder and at least one director who must be ordinarily resident in Myanmar
C.At least three shareholders and at least one executive director approved by DICA
D.At least seven shareholders and a board of not less than three directors
Explanation: Section 4(a)(vi) and Section 173 of the Myanmar Companies Law 2017 modernize corporate formation by permitting a private company to be incorporated with as few as one shareholder and at least one director. However, at least one director must be ordinarily resident in Myanmar. Note: This is an independent English-language MCQ study adaptation for the OAG Advanced Course examination.
2How is an 'ordinarily resident' director defined under the Myanmar Companies Law 2017?
A.A permanent citizen of Myanmar holding a National Registration Card (NRC)
B.A person who is physically present in Myanmar for at least 183 days in each 12-month period
C.A resident alien holding a valid permanent residence permit issued by the Ministry of Foreign Affairs
D.A person who owns immovable property in Myanmar and pays municipal commercial taxes
Explanation: Under Section 1(c)(xviii) of the Myanmar Companies Law 2017, an ordinarily resident individual is defined as a person who is present in Myanmar for at least 183 days in each 12-month period, which can be either a citizen or a foreigner. Note: This is an independent English-language MCQ study adaptation for the OAG Advanced Course examination.
3What is the primary function of the MyCO (Myanmar Companies Online) registry platform administered by the Directorate of Investment and Company Administration (DICA)?
A.Regulating foreign currency transactions and approving cross-border remittance quotas
B.Providing an electronic corporate registry for company incorporation, statutory filings, and public records search
C.Adjudicating commercial disputes and enforcing arbitral awards between joint venture partners
D.Auditing and publishing tax assessment notices for State-Owned Economic Enterprises
Explanation: MyCO is the national electronic corporate registry platform established under the Myanmar Companies Law 2017 and administered by DICA. It enables digital incorporation, filing of annual returns, recording of director and shareholding changes, and public registry searches. Note: This is an independent English-language MCQ study adaptation for the OAG Advanced Course examination.
4Under the Myanmar Companies Law 2017, how is an 'Overseas Corporation' required to establish legal operations in Myanmar before carrying on business?
A.It must surrender all foreign shares to a designated State-Owned Economic Enterprise
B.It must register with the Registrar under Part VII of the MCL 2017 within 28 days of commencing business
C.It must incorporate a 100% locally owned subsidiary before commencing any preliminary discussions
D.It must obtain prior executive clemency from the Pyidaungsu Hluttaw legislative assembly
Explanation: Under Section 43 of the MCL 2017, an overseas corporation (a company incorporated outside the Union) must not carry on business in Myanmar unless it is registered as an overseas corporation with DICA within 28 days of commencing business. Note: This is an independent English-language MCQ study adaptation for the OAG Advanced Course examination.
5According to Section 124 of the Myanmar Contract Act 1872, what constitutes a 'Contract of Indemnity'?
A.A contract by which one party promises to save the other from loss caused by the conduct of the promisor or any other person
B.An agreement to perform a promise on behalf of a third party only upon that third party's personal bankruptcy
C.A bailment of goods delivered specifically as collateral security for the repayment of a commercial loan
D.A reciprocal promise where consideration consists solely of natural love and affection between blood relatives
Explanation: Section 124 of the Myanmar Contract Act 1872 explicitly defines a contract of indemnity as a contract by which one party promises to save the other from loss caused to him by the conduct of the promisor himself, or by the conduct of any other person. Note: This is an independent English-language MCQ study adaptation for the OAG Advanced Course examination.
6Which of the following correctly outlines the core statutory duties imposed on corporate directors under Sections 166 through 172 of the Myanmar Companies Law 2017?
A.To guarantee an annual dividend payout of at least 10% to all preference shareholders regardless of operating profit
B.To act in good faith in the best interests of the company, exercise care and diligence, and avoid unauthorized conflicts of interest
C.To personally assume and secure all institutional credit facilities contracted by the corporation
D.To attend every weekly administrative staff coordination briefing and countersign all purchase vouchers
Explanation: Sections 166 to 172 of the MCL 2017 codify fundamental director duties: duty of care and diligence, duty to act in good faith in the best interests of the company, duty to use powers for a proper purpose, duty not to improperly use position or information, and duty to disclose material personal interests. Note: This is an independent English-language MCQ study adaptation for the OAG Advanced Course examination.
7Under Section 146 of the Myanmar Companies Law 2017, what are the statutory timelines for convening an Annual General Meeting (AGM) for a public company?
A.Every six months, with no more than nine months elapsing between consecutive meetings
B.Once in each calendar year, within 18 months of incorporation, and not more than 15 months after the preceding AGM
C.Within 30 days of the close of each fiscal quarter, upon unanimous approval of the board of directors
D.Only upon formal written requisition submitted by 50% or more of voting debenture holders
Explanation: Under Section 146 of MCL 2017, a public company must hold an AGM once in every calendar year, within 18 months from its incorporation date, and subsequently at intervals of not more than 15 months after the preceding AGM. Note: This is an independent English-language MCQ study adaptation for the OAG Advanced Course examination.
8In a Contract of Guarantee governed by Section 126 and Section 128 of the Myanmar Contract Act 1872, what is the legal relationship between the liability of the surety and that of the principal debtor?
A.The surety's liability is primary, and the creditor cannot demand payment from the principal debtor
B.The surety's liability is co-extensive with that of the principal debtor, unless otherwise provided by contract
C.The surety's liability arises only after the creditor has exhausted all judicial foreclosure remedies against the debtor's estate
D.The surety's liability is void ab initio unless supported by a separate independent cash fee paid by the creditor
Explanation: Section 128 of the Myanmar Contract Act 1872 establishes that the liability of the surety is co-extensive with that of the principal debtor, unless it is otherwise provided by the contract. This means the creditor can proceed against the surety upon the debtor's default without first having to sue the principal debtor. Note: This is an independent English-language MCQ study adaptation for the OAG Advanced Course examination.
9What is the critical legal distinction between a 'Bailment' under Section 148 and a 'Pledge' under Section 172 of the Myanmar Contract Act 1872?
A.Bailment applies only to immovable real estate, whereas pledge applies solely to corporate shares
B.Pledge is a specialized form of bailment where goods are delivered specifically as security for the payment of a debt or performance of a promise
C.Bailment transfers ownership title permanently, whereas pledge transfers temporary possession without any legal duties
D.Bailment requires formal registration with DICA, whereas pledge is informal and unenforceable in court
Explanation: Under Section 148, bailment is the delivery of goods by one person to another for some purpose upon a contract that they shall be returned or disposed of. Under Section 172, a pledge (or pawn) is specifically the bailment of goods as security for payment of a debt or performance of a promise. Note: This is an independent English-language MCQ study adaptation for the OAG Advanced Course examination.
10Under the law of agency in the Myanmar Contract Act 1872, when is a principal bound by the acts of an agent who exceeded actual authority?
A.Never, because an agent can only create legal liability when possessing express written power of attorney
B.When the principal has by words or conduct induced third parties to believe the agent had ostensible (apparent) authority, or subsequently ratifies the act
C.Only when the transaction involves state-owned commodities and is approved by the Ministry of Commerce
D.Exclusively when the third party is a wholly state-owned financial institution
Explanation: Under Sections 196 to 200 and 237 of the Myanmar Contract Act 1872, a principal is bound by unauthorized acts of an agent if the principal's words or conduct created ostensible (apparent) authority leading third parties to reasonably rely on it, or if the principal subsequently ratifies the unauthorized transaction. Note: This is an independent English-language MCQ study adaptation for the OAG Advanced Course examination.
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