Finance practice quizzes

Build your knowledge, one question at a time. Try our three free practice sets, with 15 questions each, instant feedback and clear answer explanations.

Take your time. Each correct answer earns one point. Restart any set for another attempt.

ACCA Applied Knowledge

Business and Technology, Management Accounting and Financial Accounting.

Browse the 15 question topics
  1. which control best reduces the risk of fraudulent supplier payments?
  2. A manager supervises 12 employees directly. This describes the manager’s:
  3. A business divides departments into finance, marketing and operations. Its structure is:
  4. A supplier offers an accountant a gift to alter tender scores. Which ethical principle is most directly threatened?
  5. Which objective is SMART?
  6. Price=RM50, variable cost=RM30 per unit, fixed costs=RM40,000. Break-even units are:
  7. Sales=5,000 units; break-even=3,000 units. Margin of safety as a percentage of sales is:
  8. Fixed overhead=RM120,000; budgeted machine hours=30,000. Absorption rate per machine hour is:
  9. A job uses 100 kg at RM5/kg, 20 labour hours at RM10/hour, and overhead at RM8/labour hour. Total cost is:
  10. Standard material price=RM4/kg. Actual purchases=1,000 kg costing RM4,300. Price variance is:
  11. Equipment is bought on credit for RM5,000. The correct entry is:
  12. Equipment costs RM20,000, residual value RM2,000, useful life 6 years. Annual straight-line depreciation is:
  13. Closing inventory cost=RM8,000; net realisable value=RM7,200. Inventory should be reported at:
  14. An unpaid RM600 electricity bill is omitted at year-end. Without adjustment, profit and liabilities are:
  15. Sales=RM100,000; opening inventory=RM10,000; purchases=RM60,000; closing inventory=RM15,000. Gross profit is:

CFA Level I

Quantitative methods, economics, financial statements, valuation, risk and ethics.

Browse the 15 question topics
  1. RM10,000 earns 6% compounded annually for 3 years. Future value is closest to:
  2. Returns are +20% then -20%. The annual geometric mean return is closest to:
  3. A Type I error occurs when an analyst:
  4. Price rises 5%; quantity demanded falls 10%. Demand elasticity magnitude is closest to:
  5. With rising inventory costs, FIFO versus LIFO generally produces:
  6. Net income=100, depreciation=20, receivables rise 15, payables rise 10. CFO equals:
  7. Current assets=500; inventory=150; prepayments=50; current liabilities=200. Quick ratio is:
  8. Debt weight=40%, equity=60%; debt cost=5%, equity cost=10%, tax=25%. WACC is:
  9. A project costs RM100 today and pays RM60 in years 1 and 2. At 10%, NPV is closest to:
  10. Next dividend=RM3; required return=10%; perpetual dividend growth=4%. Share value is:
  11. Modified duration=5. Yield rises 50 basis points. Ignoring convexity, price change is about:
  12. Risk-free rate=3%, beta=1.2, market risk premium=5%. CAPM required return is:
  13. A call has strike RM50, expiry share price RM58 and premium RM3. Buyer profit per share is:
  14. Two equally weighted assets each have 20% volatility and zero correlation. Portfolio volatility is closest to:
  15. An analyst receives material nonpublic merger information. The most appropriate action is:

CFP Practice

Client goals, budgeting, investments, protection and retirement planning.

Browse the 15 question topics
  1. before recommending investments, a planner should first:
  2. Assets=RM850,000; liabilities=RM320,000. Client net worth is:
  3. Essential spending is RM4,000 monthly. A 6-month emergency reserve requires:
  4. RM10,000 grows at 5% annually for 3 years, compounded yearly. Future value is closest to:
  5. A client needs a house deposit in 12 months and cannot accept losses. Best primary focus is:
  6. Portfolio: 60% asset A returning 8%, 40% asset B returning 3%. Weighted return is:
  7. diversifying across unrelated companies mainly reduces:
  8. Market yields rise. The price of an existing fixed-rate bond will generally:
  9. Life cover needs: debts RM200k + family support RM600k; available assets RM150k. Cover gap is:
  10. A valid covered loss is RM10,000 with a RM2,000 deductible and no other limits. Insurer pays:
  11. Retirement spending is RM60,000 yearly; pension income RM24,000. Annual funding gap is:
  12. Nominal return=6%; inflation=3%. Exact real return is closest to:
  13. Assume a fully deductible RM2,000 expense at a 25% marginal tax rate. Tax saving is:
  14. under a valid trust, who administers trust assets for beneficiaries according to its terms?
  15. A client insists on a risky product they do not understand. The planner should first:

Original educational practice questions by Oliver Tey, CA. These quizzes are independent study resources and are not official examination questions or endorsed by ACCA, CFA Institute or any CFP certification body.

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