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Certified Accounting Technician (CAT) Rwanda

Practice Questions
Exam Review

Key Facts: CPA Rwanda Exam

50%

Pass Mark (All Papers)

ICPAR Revamped CPA FAQs

4 levels

Technical, Operational, Strategic, Professional

ICPAR Revamped CPA brochure

50 MCQs

Per 3-Hour Technical Paper

ICPAR FA1.1 and AA1.4 syllabuses

RWF 65,000–120,000

Exam Fee per Paper by Level

ICPAR Revamped CPA brochure

4

Sittings a Year (Feb, May, Aug, Nov)

ICPAR Revamped CPA FAQs

ICPAR's revamped CPA requires 15 papers across four levels, sat four times a year (February, May, August, November) with a 50% pass mark in every paper. Technical papers are 50-question multiple-choice exams; higher levels add written, computational, and case-study questions. Fees run from RWF 65,000 per Technical paper to RWF 120,000 for the Professional Level. This free bank of independent multiple-choice questions covers topics from all levels.

Sample CPA Rwanda Practice Questions

Try these sample questions to review concepts for the CPA Rwanda exam. Each question includes a detailed explanation. Start the interactive quiz above for the full 112+ question experience with AI tutoring.

1A project requires an initial capital outlay of RWF 20,000,000 and generates net annual cash inflows of RWF 7,000,000 for each of the next 4 years. If the company's cost of capital is 10%, what is the Net Present Value (NPV) of the project (using 4-year cumulative discount factor at 10% = 3.1699)?
A.RWF 8,000,000
B.RWF 2,189,300
C.-RWF 2,591,700
D.RWF 22,189,300
Explanation: NPV = Present Value of Cash Inflows - Initial Outlay = (RWF 7,000,000 * 3.1699) - RWF 20,000,000 = RWF 22,189,300 - RWF 20,000,000 = RWF 2,189,300. Because the NPV is positive, the project is commercially acceptable.
2A loan of RWF 10,000,000 is taken from a Kigali commercial bank at an annual nominal interest rate of 12% compounded quarterly. What is the effective annual rate of interest (EAR)?
A.12.68%
B.12.00%
C.12.36%
D.12.55%
Explanation: Effective Annual Rate = (1 + r/m)^m - 1 = (1 + 0.12/4)^4 - 1 = (1 + 0.03)^4 - 1 = (1.03)^4 - 1 = 1.1255088 - 1 = 12.55%.
3What is the primary difference between Laspeyres and Paasche price index numbers?
A.Laspeyres uses current-period quantity weights, whereas Paasche uses base-period quantity weights
B.Laspeyres uses base-period quantity weights, whereas Paasche uses current-period quantity weights
C.Laspeyres measures changes in physical volume, whereas Paasche measures price changes only
D.Laspeyres is always smaller than Paasche in an inflationary environment
Explanation: Laspeyres price index measures the change in cost of a fixed base-period basket of goods (base-year weighted), whereas the Paasche index uses the current period's basket quantities (current-year weighted).
4In a linear regression analysis y = a + bx used for cost estimation, what does the slope coefficient 'b' represent?
A.The total fixed cost per accounting period
B.The variable cost per unit of activity
C.The coefficient of determination (R-squared)
D.The correlation between cost and activity
Explanation: In cost estimation models (Total Cost = a + bx), 'a' represents the y-intercept (total fixed cost) and 'b' represents the gradient or slope, which reflects the variable cost per unit of activity 'x'.
5Under Rwanda's Law No. 45/2011 governing contracts, a seller offers goods and states that the offer is open until 5:00 PM on Friday. On Wednesday, before the buyer has accepted, the seller notifies the buyer that the offer is withdrawn. What is the legal effect?
A.The buyer may still accept before Friday and hold the seller to the contract
B.The offer stays open until Friday because a stated time limit makes it irrevocable
C.The buyer's power of acceptance ends because the offer was withdrawn before acceptance
D.The withdrawal takes effect only at 5:00 PM on Friday, when the offer would expire anyway
Explanation: Articles 18 and 19 of Law No. 45/2011 provide that the offeror may, before acceptance, notify the offeree that the offer is withdrawn, and the offeree's power of acceptance then ends. The stated expiry time only marks when the offer would otherwise lapse.
6In Rwanda's court system, which court hears commercial disputes between registered companies at first instance?
A.Supreme Court of Rwanda
B.Commercial Court (Tribunal de Commerce)
C.Primary Court (Tribunal de Base)
D.High Military Court
Explanation: Under Law No. 30/2018 determining the jurisdiction of courts, the Commercial Court is a specialised court that hears commercial, financial and fiscal cases at first instance. The Commercial High Court hears appeals and certain first-instance matters, such as applications to enforce foreign commercial judgments.
7In the law relating to the sale of goods, what distinguishes a sale from an agreement for sale?
A.A sale must always be made in writing, whereas an agreement for sale may be made orally
B.In a sale ownership passes at once; in an agreement for sale it passes later or on conditions
C.A sale is always paid for in cash, whereas an agreement for sale is always paid on credit
D.In a sale ownership passes only on delivery; in an agreement for sale it passes only on payment
Explanation: In a sale, ownership (property) in the goods transfers to the buyer when the contract is made. In an agreement for sale, the transfer is to happen at a future time or once conditions are fulfilled, so the seller remains the owner until then.
8Under Law No. 45/2011 governing contracts, a seller offers 100 bags of coffee at RWF 50,000 per bag. The buyer replies offering RWF 45,000 per bag. What is the effect of the buyer's reply?
A.It creates a contract at RWF 47,500 per bag, midway between the two prices
B.It is an acceptance of the original offer at the lower price
C.It is a request for information that leaves the original offer open
D.It is a counter-offer, a new offer that brings the original offer to an end
Explanation: Article 16 treats a counter-offer as a new offer proposing a change to the original, and Article 14 lists a counter-offer by the offeree among the ways an offer expires. The seller may accept or reject the new offer, but the buyer can no longer accept the original RWF 50,000 offer.
9Under agency law, if an agent acts within their 'apparent' (ostensible) authority but exceeds their actual express authority given by the principal, what is the legal position of the principal regarding a contract entered into with an innocent third party?
A.The contract is void from the start and cannot be enforced by or against any of the parties
B.The principal is bound to the third party but may claim against the agent for exceeding authority
C.The third party can sue only the agent personally and has no claim against the principal
D.The contract binds the principal only if a court later ratifies the agent's act
Explanation: Where a principal holds out an agent as possessing authority (apparent authority), third parties who rely on that representation in good faith can enforce the contract against the principal. The principal can then seek damages from the agent for exceeding instructions.
10According to the IASB Conceptual Framework for Financial Reporting, what are the two fundamental qualitative characteristics that make financial information useful?
A.Prudence and Materiality
B.Comparability and Verifiability
C.Timeliness and Understandability
D.Relevance and Faithful representation
Explanation: Under the IASB Conceptual Framework, Relevance and Faithful representation are the two fundamental qualitative characteristics. Comparability, verifiability, timeliness, and understandability are enhancing qualitative characteristics.

About the CPA Rwanda Exam

CPA Rwanda is the professional accountancy qualification of the Institute of Certified Public Accountants of Rwanda (ICPAR), the body established by Law No. 11/2008 to regulate the accountancy profession. Its revamped, competency-based structure runs across Technical, Operational, Strategic, and Professional levels, with public-sector and private-sector pathways. This free bank offers independent multiple-choice practice on the revamped papers' topics; it is not an official ICPAR paper or a simulation of the written and case-study exams.

Exam sponsor: Institute of Certified Public Accountants of Rwanda (ICPAR). The requirements and fees below concern the certification or admission exam, separate from our free practice resources.

Assessment

ICPAR launched the revamped CPA in December 2025, with first exams in February 2026 (Technical and Operational), August 2026 (Strategic), and November 2026 (Professional). Technical Level: FA1.1 Financial Accounting, MA1.2 Management Accounting, TA1.3 Taxation, AA1.4 Audit and Assurance. Operational Level: LG2.1 Ethics, Law and Governance; DF2.2 Digital Finance; FM2.3 Financial Management; FR2.4 Financial Reporting; AT2.5 Advanced Taxation. Strategic Level: AA3.1 Advanced Audit and Assurance, SM3.2 Strategic Management, FR3.3 Advanced Financial Reporting, plus a public-sector pathway (Advanced Public Financial Management; Managing Performance in the Public Sector) or a private-sector pathway (BP3.6 Managing Business Performance; FM3.7 Advanced Financial Management). Professional Level: Test of Professional Competence for the Public Sector (PC4.1) or Private Sector (PC4.2). Students who had passed all old Intermediate papers could finish the old 18-paper format up to the May 2026 sitting.

Time Limit

3 hours per Technical, Operational, and Strategic paper

Passing Score

50% in every paper

Exam / Certification Fees

RWF 65,000–120,000 per paper, depending on level

Exam sponsor website

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

Official sources

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.

Not published

Technical Level (FA1.1–AA1.4)

Financial statements, errors, associates and fraud controls; budgeting, index numbers, regression and activity-based costing; Rwandan income tax residence, PAYE and withholding taxes; audit objectives, risk, evidence and reporting under the ISAs.

Not published

Operational Level (LG2.1–AT2.5)

Rwandan contract law (Law No. 45/2011), courts, agency and sale of goods; company law (Law No. 007/2021), governance and ethics; digital finance and data protection (Law No. 058/2021); investment appraisal, cost of capital, working capital and the economy; IFRS reporting; capital gains, withholding and VAT rules.

Not published

Strategic Level and pathways (AA3.1–FM3.7)

Quality management, group audits and assurance engagements; strategy models and change; IFRS 9, IAS 19, IFRS 2, IAS 21 and loss of control; public financial management and value for money; performance management, transfer pricing and quality costs; valuation, hedging and mergers.

Preparing for the CPA Rwanda Exam

What You Need to Know

  • Passing score: 50% in every paper
  • Assessment: ICPAR launched the revamped CPA in December 2025, with first exams in February 2026 (Technical and Operational), August 2026 (Strategic), and November 2026 (Professional). Technical Level: FA1.1 Financial Accounting, MA1.2 Management Accounting, TA1.3 Taxation, AA1.4 Audit and Assurance. Operational Level: LG2.1 Ethics, Law and Governance; DF2.2 Digital Finance; FM2.3 Financial Management; FR2.4 Financial Reporting; AT2.5 Advanced Taxation. Strategic Level: AA3.1 Advanced Audit and Assurance, SM3.2 Strategic Management, FR3.3 Advanced Financial Reporting, plus a public-sector pathway (Advanced Public Financial Management; Managing Performance in the Public Sector) or a private-sector pathway (BP3.6 Managing Business Performance; FM3.7 Advanced Financial Management). Professional Level: Test of Professional Competence for the Public Sector (PC4.1) or Private Sector (PC4.2). Students who had passed all old Intermediate papers could finish the old 18-paper format up to the May 2026 sitting.
  • Time limit: 3 hours per Technical, Operational, and Strategic paper
  • Exam / certification fees: RWF 65,000–120,000 per paper, depending on level Official sources

Using Our Practice Resources

  • Work through all 112 available questions
  • Review every answer and explanation
  • Track weak areas and revisit them
  • Use our AI tutor for tough concepts

CPA Rwanda: Suggested Study Strategy

1Start with the Technical Level: each paper is 50 multiple-choice questions in 3 hours, so speed and accuracy on core techniques pay off.
2For LG2.1, learn the Rwandan statutes by name: Law No. 45/2011 on contracts and Law No. 007/2021 on companies (resolutions, AGMs, solvency test, auditor qualifications).
3Know Rwanda's current tax figures: 28% corporate income tax, PAYE bands of 0%, 10%, 20% and 30%, 15% general withholding tax, 18% VAT, and 10% capital gains tax since May 2025.
4Practise financial management calculations such as NPV, IRR, WACC, CAPM, and working capital models until they are routine.
5Choose the public-sector or private-sector pathway carefully; ICPAR does not allow switching after you attempt a pathway module.

Frequently Asked Questions

What changed in the revamped CPA Rwanda?

ICPAR replaced the old 18-paper Foundation, Intermediate and Advanced structure with four levels (Technical, Operational, Strategic, Professional) and public-sector and private-sector pathways. First exams under the new structure were held in February 2026, and failed or incomplete old papers must now be completed under the revamped CPA.

What is the pass mark for CPA Rwanda papers?

ICPAR sets a pass mark of 50% for all papers in the revamped CPA.

How much are CPA Rwanda fees?

Registration costs RWF 100,000 and the annual subscription is RWF 50,000. Exam fees per paper are RWF 65,000 (Technical), RWF 75,000 (Operational), RWF 85,000 (Strategic), and RWF 120,000 (Professional).

How many CPA sittings are there each year?

There are four sittings a year, in February, May, August, and November, and a candidate may take up to six papers per sitting if the progression rules are met.

Are the CPA exams multiple-choice?

Only the Technical Level papers are fully multiple-choice (50 four-option questions in 3 hours). Operational papers mix objective-test and written questions, Strategic papers are case-study and written exams, and the Professional Level is a case-study assessment. This bank is an independent multiple-choice study aid, so also practise with ICPAR's specimen and past papers.