Free CPA FAR (Financial Accounting & Reporting) Practice Questions
The entire CPA FAR question bank is free: 1,349 practice questions on GAAP, IFRS, government accounting, and nonprofit reporting, plus task-based simulations (TBS) with cell-fill grading that mirror the AICPA exam format. From FreeFellow, where 'free' is in the brand name. No trial, no signup to browse, no credit card.
1,349 questions3 topics35 lessons2026 syllabus
Built by Jeffrey Ting, FSA, CFA, who passed thirteen of the hardest finance exams on the first attempt. The full question bank and worked solutions are free forever.
Instant readiness score in about 6 minutes. No signup to start.
Sample Questions
Question 1
Easy
Under U.S. GAAP, a deferred tax liability arises when:
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Correct Answer: D
Solution
D is correct.
Under ASC 740-10-25, a deferred tax liability (DTL) arises from taxable temporary differences, which occur when an asset's book carrying amount exceeds its tax basis. When the asset is recovered (through depreciation, sale, or use), the excess book amount over tax basis will result in additional taxable income in future periods.
Question 2
Medium
Which costs are included in the depletable base of a natural resource?
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Correct Answer: A
Solution
A is correct.
The depletable base includes the acquisition cost, exploration and development costs, and the present value of any asset retirement (restoration) obligation, reduced by the expected residual value of the land. Extraction equipment is a separate depreciable asset, and restoration is included at present value, not its undiscounted total. See ASC 930, Extractive Activities, and ASC 410-20 on asset retirement obligations.
Question 3
Hard
In Year 1 a company extracts 120,000 tons of ore at a depletion rate of $6 per ton and sells 100,000 of those tons. How much of the Year 1 depletion reaches cost of goods sold?
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Correct Answer: A
Solution
A is correct.
Depletion attaches to extracted units and follows them into inventory, reaching cost of goods sold only as those units are sold.
| Item | Amount | Why | |---|---|---| | Depletion on units extracted | $720,000 | 120,000 tons x $6 | | Stays in inventory (unsold) | ($120,000) | 20,000 tons x $6 | | **Depletion in COGS** | **$600,000** | 100,000 tons sold x $6 |
The $120,000 on the 20,000 unsold tons remains in inventory until those tons are sold.
What CPA FAR candidates are saying
“I practised the Lease questions subtopic by subtopic in Area 3F, and it was honestly a great experience. Learning felt much easier, faster, and more organised. It was especially helpful when I got a question wrong, because I could immediately connect the mistake to the exact concept.”
Harvin S.
“I have been finding the FreeFellow materials incredibly helpful. The way you break down complex topics is making a real difference in my CPA prep.”
Joshua S.
“I really liked the access the free tier has. The amount of questions you made is incredible and very accurate to the real deal.”
Sam
Others charge $1,000+. FreeFellow gives you the 70% you need to pass for free.
The full question bank, written solutions, lessons, formula sheet, mixed practice, and readiness tracking for your CPA FAR prep are free forever. No trial period, no credit card. Every task-based simulation has a copy-to-AI prompt builder for your own ChatGPT or Claude. Become a Fellow ($79/qtr) only if you want mock exams, flashcards, analytics, AI simulation grading, and a personalized study plan.
What's Free, and What Fellow Unlocks
The 70% of CPA FAR prep you actually need to pass (questions, solutions, lessons, mixed practice, copy-to-AI simulation prompts) is free forever. The remaining 30% (mocks, flashcards, analytics, study plan, AI simulation grading) unlocks when you become a Fellow. Use the free tier as long as you like.
✓
Free forever
$0 · no credit card
1,349 practice questions with detailed solutions
35 full lessons
Copy-to-AI simulation prompts for your own ChatGPT or Claude
Mixed practice sessions across all topics
Formula sheet and reference materials
Readiness tracking with pass-probability estimates
No paywalls on questions · no trial period · no credit card
✦
Fellow unlock
$39 / mo · $79 / qtr per track · $199 / yr as Fellow Plus
Timed mock exams with weighted scoring
Spaced-repetition flashcards backed by memory science
Topic-level practice to drill weak areas
Performance analytics by topic and difficulty
AI grading for task-based simulations vs the official rubric
Personalized study plan that adapts to your exam date
How FreeFellow Compares
Per-exam pricing across the major prep providers. The FreeFellow core (questions, solutions, lessons) is free forever. The optional Fellow tier is $79 per quarter, a small fraction of what traditional providers charge.
FreeFellow
$0 · Fellow $79/qtr
Becker
$2,000–$3,500
Roger CPA
$1,800–$2,600
Traditional providers bundle prep into a single up-front fee. FreeFellow keeps the question bank and lessons free forever and charges only for deeper study tools (mocks, flashcards, analytics). All numbers are competitor list prices as of 2026.
Everything You Need to Pass
The free tier covers what most candidates need to pass. Fellow ($79/qtr) adds the pacing tools.
✓
1,349+ Practice QuestionsFREE
Every question includes a detailed, step-by-step solution.
CPA FAR uses continuous testing: candidates schedule on demand at a test center rather than waiting for a fixed sitting window. Confirm scheduling details and fees directly with NASBA before registering.
Frequently Asked Questions
How many free CPA FAR practice questions does FreeFellow have?
FreeFellow currently offers 1349 free CPA FAR practice questions across 3 topics, each with a detailed step-by-step solution. Questions span three difficulty levels and are aligned to the 2026 syllabus. The question bank is updated regularly.
What CPA FAR topics are covered?
The questions cover 3 topics: Financial Reporting, Select Balance Sheet Accounts, Select Transactions. Each topic page shows your progress and lets you filter by difficulty level. You can practice by topic to target your weak areas or take mixed-topic practice exams.
Does FreeFellow have CPA FAR study lessons?
Yes. FreeFellow includes 35 comprehensive text lessons for CPA FAR, covering key concepts and worked examples for each topic. Lessons are free to read with a free account (no card) and are designed to complement question practice.
Is FreeFellow really free for CPA FAR prep, or is there a catch?
No catch. The 70% of CPA FAR prep you actually need to pass is free forever: the full question bank of 1349 practice questions, detailed solutions on every question, 35 lessons, mixed practice, the formula sheet, and readiness tracking. No trial period, no credit card. The remaining 30% (timed mock exams, flashcards with spaced repetition, performance analytics, and a personalized study plan) unlocks when you become a Fellow.
What does the $79 Fellow tier unlock for CPA FAR?
Fellow ($39 per month or $79 per quarter, per track; the $199 annual is Fellow Plus) unlocks four things on top of the free tier: timed mock exams with weighted scoring that match the real exam blueprint, spaced-repetition flashcards built on memory science from cognitive psychology, topic-level practice to drill weak areas, performance analytics broken down by topic and difficulty, and a personalized study plan that adapts to your exam date. Everything else (questions, solutions, lessons) stays free.
How does FreeFellow compare to Becker, Surgent, or Wiley on price?
Traditional CPA FAR prep providers charge $200 to $3,500 for a single exam, paid upfront. FreeFellow keeps the question bank, written solutions, and lessons free forever. The optional Fellow tier is $79 per quarter (a small fraction of what the big providers charge) and adds mock exams, flashcards, analytics, and a study plan. You can pass CPA FAR entirely on the free tier.
How should I use FreeFellow to study for CPA FAR?
Start with the lessons to build your conceptual foundation, then move to topic-based practice to identify weak areas. As your exam date approaches, switch to timed practice exams under realistic conditions. The free tier gives you everything you need to build mastery; if you want pacing tools (mock exams, analytics, a study plan) and long-term retention aids (spaced-repetition flashcards), become a Fellow.
Does FreeFellow include task-based simulations (TBS) for CPA FAR?
Yes. FreeFellow includes task-based simulations for CPA FAR with cell-fill grading that mirrors the AICPA exam format, supporting documents, journal-entry-style data entry, and per-cell verdicts. TBS are a Fellow feature ($39 per month or $79 per quarter; the $199 annual is Fellow Plus). Task-based simulations make up roughly half of the scaled CPA FAR score, so candidates should practice under realistic exam conditions before sitting.
What is a CPA FAR task-based simulation?
A task-based simulation (TBS) is a multi-part scenario question used on the AICPA CPA exam. Candidates read a stem, review supporting documents (trial balances, contracts, schedules), and fill in cells across one or more sub-items, for example, computing a goodwill calculation in a business combination, or building consolidation entries. CPA FAR contains 7 task-based simulations on the real exam, contributing approximately 50% of the scaled score (AICPA).
Is CPA FAR a core or discipline section?
CPA FAR is one of the three core sections of the CPA exam that all candidates must pass. The other core sections are AUD and REG. Each section requires a score of 75 to pass (AICPA).
What score do you need to pass the CPA exam?
Each CPA exam section requires a minimum score of 75 on a scale of 0 to 99 (AICPA). The passing score is set by the AICPA and applies uniformly to all sections. All four sections must be passed within an 18-month rolling window from the date of the first passing score.
Can I study for the CPA exam while working full time?
Yes. Most CPA candidates study while working full time, typically dedicating 15-20 hours per week per section. Many candidates take one section at a time, spending 6-8 weeks per section. Most candidates complete all four sections in 6 to 12 months.
About FreeFellow
Jeffrey Ting
FSA, CFA · Founder
FreeFellow was built by Jeffrey Ting, a credentialed actuary and CFA charterholder who passed thirteen of the hardest exams in finance on the first attempt, and paid four-figure prep fees for every one. The learning itself was always free. The price was a moat.
So he started writing his own questions, then lessons, then mock exams, until it grew into a full prep platform covering 35 finance credentials with more than 40,000 original practice questions. The name says exactly what it is: the question bank is free, and Fellow is what you become once you pass.
01
Cost shouldn't decide who gets in.
The exam is a fair gate. A four-figure prep course is not. FreeFellow takes the second gate down, so the exam is the only one left.
02
Free should mean free.
No trial clock, no email gate, no credit card. The question bank, worked solutions, lessons, and readiness score stay free, and they are enough to pass.
03
Built by someone who sat where you sit.
He paid for the big-name courses, found nothing he respected, and built the prep he wished had existed. Not a marketing team that has never sat an exam.
