Sample Examination Questions and Solutions

Sample Examination Questions and Solutions

Note to Instructors

This booklet (and the accompanying DVD) contains a series of 94 questions and solutions and six sets of multiple choice questions with annotated solutions that, in total, cover the entire text. The comprehensive coverage of these materials has been possible by additions to the authors’ work by a contributor, Thomas Haddrath, CMA, who is an instructor in the Rotman Commerce Program and the School of Continuing Studies Program at the University of Toronto, and who has also completed the CICA In-depth Tax Course. He has updated past exam questions that were previously published in the Sample Exams Booklet and he has provided annotated solutions for the multiple choice question sets. For this edition, he has added 31 new multiple choice questions covering Chapters 2 to 8. We are most appreciative of his conscientious efforts in improving the booklet. The contents of the booklet allow more choice of questions when making up your exams.

Each question indicates how many minutes should be allocated for its completion. The minutes are provided instead of the marks to take into account the fact that not all of your examinations are of the same length.

The addition of the number of marks available can be made easily once the length of the examination is determined. As well, in order to allow you to easily choose the question most relevant to the material to be examined, the chapter, or chapters, in the text to which each question relates is indicated.

All of the examination questions were designed to be written under the following set of common instructions, which appear on the first page of an examination. Note that one copy of the Income Tax Act with very limited annotation is permitted. This brings the reference material in line with the uniform exams for Chartered Accountants. Our marking keys provide for about a 10% overmark margin, with variations depending on the nature of the question. A...