The ICAEW Associate Chartered Accountant is a professional certification assessment in United Kingdom. Thorough preparation is essential to demonstrate your knowledge and competency in this field.
Our comprehensive collection of free ACA practice questions covers all exam domains and topics. Use these detailed study materials to build confidence and improve your test performance.
Numbers in brackets link to the official sources listed under Sources & last verified. Dates that have passed are removed automatically.
| Item | Detail | Source · Verified |
|---|---|---|
| Number of questions | 14 exams across 3 levels (Next Generation ACA)[1] | ICAEW · Oct 25, 2026 |
| Time limit (Advanced Level) | 4 hours each (Next Generation, from July 2027)[1] | ICAEW · Oct 25, 2026 |
| Time limit (Certificate Level) | 1.5–2 hours[1] | ICAEW · Oct 25, 2026 |
| Passing score (Advanced Level) | 50%[1] | ICAEW · Oct 25, 2026 |
| Passing score (Certificate Level) | 55%[1] | ICAEW · Oct 25, 2026 |
| Passing score (Professional Level) | 55%[1] | ICAEW · Oct 25, 2026 |
| Exam fee (Advanced Level) | £220 (Corporate Reporting / SBM); £297 (Case Study), 2026[2] | ICAEW · Oct 25, 2026 |
| Exam fee (Annual student fee) | £216 + VAT per year[2] | ICAEW · Oct 25, 2026 |
| Exam fee (Certificate Level) | £99 per exam (2026)[2] | ICAEW · Oct 25, 2026 |
| Exam fee (Professional Level) | £133 per exam (2026)[2] | ICAEW · Oct 25, 2026 |
| Retake policy | 4 attempts per Certificate/Professional exam; unlimited at Advanced Level[1] | ICAEW · Oct 25, 2026 |
| Delivery | Computer-based, at an exam centre or remotely[1] | ICAEW · Oct 25, 2026 |
| Eligibility | Training agreement with 450 days of professional work experience[4] | ICAEW · Oct 25, 2026 |
| Score release (Advanced Level) | 10 December 2026 (November 2026 session)[3] | ICAEW · Oct 31, 2026 |
| Score release (Certificate Level) | 24 hours after the exam[1] | ICAEW · Oct 25, 2026 |
| Score release (Professional Level) | 21 January 2027 (December 2026 session)[3] | ICAEW · Oct 31, 2026 |
| Next exam date (Advanced Level) | 2–4 November 2026[3] | ICAEW · Oct 31, 2026 |
| Next exam date (Professional Level) | 7–9 December 2026[3] | ICAEW · Oct 31, 2026 |
| Late registration deadline | No late bookings accepted[3] | ICAEW · Oct 31, 2026 |
| Registration deadline (Advanced Level) | 28 May 2027, 17:00 UK time (July 2027 session)[3] | ICAEW · Oct 31, 2026 |
| Registration opens (Advanced Level) | 17 May 2027, 10:00 UK time (July 2027 session)[3] | ICAEW · Oct 31, 2026 |
| Testing window (Advanced Level) | July and November[1] | ICAEW · Oct 25, 2026 |
| Testing window (Certificate Level) | On demand, year-round[1] | ICAEW · Oct 25, 2026 |
| Testing window (Professional Level) | March, June, September and December[1] | ICAEW · Oct 25, 2026 |
Important: The ACA examination requires thorough understanding of all core subject areas. Review the official UK exam guidelines and ensure you meet all eligibility requirements before scheduling your test date.
Interactive ACA ICAEW resources on PracticeTestGeeks, free to start:
According to ICAEW, “There are 14 Next Generation ACA exams spread over three levels: the Certificate Level, the Professional Level and the Advanced Level.”[1]
Prepare for the ACA - ICAEW Chartered Accountant Qualification exam with our free practice test modules. Each quiz covers key topics to help you pass on your first try.
These are practice questions written for this site, not questions from the real exam. Each explanation shows why the right answer is right and why the others are wrong.
Question: Which of the following best describes the payback period method of investment appraisal?
Answer: A. The time taken for cumulative net cash flows to equal the initial investment
Explanation:
Payback period is the time taken for cumulative net cash flows to equal the initial investment, so option A is right. Option B describes total profit, which payback ignores because it only asks when the money comes back. Option C is the internal rate of return, a different appraisal method that finds the discount rate giving a zero net present value. Option D is the discounted value of future cash flows, which is closer to net present value.
Rule to remember: simple payback looks at timing only. It ignores the time value of money and any cash flows after the payback point, which is why it is usually read alongside a method such as net present value.
Question: Under IAS 1, the statement of financial position (balance sheet) must present current and non-current assets and liabilities separately unless:
Answer: B. A liquidity-based presentation provides more reliable information
Explanation:
Option B is right. IAS 1 expects a current and non-current split, but allows a liquidity-based presentation when it gives more reliable information. Banks and similar institutions are the usual example. Option A is wrong because size alone does not remove the requirement. Option C is wrong because the choice of UK GAAP does not decide this IAS 1 point. Option D is wrong because being a charity is not the stated exception.
Rule to remember: the default is a current and non-current split. The exception depends on which presentation is more reliable for users, not on the type or size of the entity.
Question: A UK company purchases inventory for £12,000 plus VAT at 20%. The company is VAT-registered. At what value should the inventory be initially recorded?
Answer: B. £12,000
Explanation:
Option B, £12,000, is right. A VAT-registered company can recover input VAT from HMRC, so the VAT is not part of the cost of the inventory. It is recorded as a receivable instead. Option A, £14,400, wrongly adds VAT to the price and then adds it again as if the rate were higher. Option C, £12,400, applies a rate that does not match the 20% given. Option D, £10,000, takes the VAT out of a figure that never included it.
Rule to remember: for a VAT-registered business, record inventory at the net price. Recoverable VAT is not a cost.
Start with the official ICAEW material for the exam you are booked on. Read the syllabus or learning outcomes for that paper and note the topics you cannot yet explain in your own words. Then use our practice sets as a check on those topics rather than as a replacement for the study manual.
Pick the set that matches your paper, for example Financial Accounting and Reporting, Tax Compliance, Business Strategy or Professional Ethics. Work through it untimed at the start and read every explanation, including those for questions you got right. Keep a short list of the rules you got wrong, and rework those topics from the official text before you try the set again.
As your exam gets closer, switch to timed attempts that match the duration of your paper, which you can find on the ICAEW exam pages. Practise on a computer, because the real exam is computer-based. If you are sitting remotely, check the ICAEW technical requirements for remote sitting well ahead of your booking.
Our questions are written by us and are not real exam questions. Use them to find gaps, and rely on ICAEW materials for the standard you will be tested to.
Join thousands of candidates who have used our free practice tests to prepare for the ICAEW Associate Chartered Accountant. Start practising today and build the confidence you need to succeed. Practice with the free ACA ICAEW practice test on PracticeTestGeeks (7 questions with answer explanations).
For more in-depth preparation strategies, read our FCTC Hiring Process — covering exam format, scoring, and proven study techniques.
Try these questions from our free ACA ICAEW practice tests. The correct answer and an explanation follow each question.
Under the ICAEW Code, professional accountants in business have the same ethical obligations as those in practice. If a finance director is instructed to falsify accounts, they should:
Answer: B. Refuse and consider whistleblowing through appropriate channels
A finance director (accountant in business) must refuse instructions that would involve preparing misleading financial statements; depending on circumstances they may need to escalate internally or through external whistleblowing channels.
Under the UK Corporate Governance Code, what is the primary role of the audit committee?
Answer: B. Overseeing the integrity of financial reporting and the effectiveness of internal and external audit
The UK Corporate Governance Code requires listed companies to establish an audit committee responsible for monitoring the integrity of financial statements, reviewing internal controls, overseeing the relationship with the external auditor, and reviewing the effectiveness of internal audit.
The dividend growth model values a share as:
Answer: B. Next year's expected dividend divided by (cost of equity minus growth rate)
The Gordon Growth Model (dividend growth model) calculates share price as D1 / (Ke - g), where D1 is the next dividend, Ke is the required return, and g is the constant growth rate.
An assurance engagement provides the practitioner's conclusion on a subject matter. Which level of assurance results in a 'nothing has come to our attention' conclusion?
Answer: C. Limited assurance
Limited (or moderate) assurance results in negative assurance — 'nothing has come to our attention to suggest...' — whereas reasonable assurance results in a positive conclusion.
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