About the Finance & Accounting tests
~8 min read · Updated April 2026
If you're starting a career in UK accounting or finance, the early exams open every door that follows. AAT Level 2 Bookkeeping is the most common first step, ACCA Foundations (FIA) is the alternative for those aiming straight at chartered status, and CFA-style aptitude tests dominate graduate scheme screening at investment banks and asset managers. A solid pass on any one of these can lift your starting salary by several thousand pounds.
Our free finance mocks mirror the official AAT and ACCA computer-based assessment format and the timed numerical / verbal aptitude format used by the major City employers. UK English, UK accounting standards (FRS 102, FRS 105) and HMRC tax conventions throughout — not US GAAP.
What the tests actually involve
AAT Level 2 Bookkeeping is delivered as a computer-based assessment (CBA) under exam conditions at an approved AAT venue. The two main units — Bookkeeping Transactions and Bookkeeping Controls — are each two hours long with a 70% pass mark.
ACCA Foundations (FIA) papers are also computer-based, sat on demand at Pearson VUE centres. Each paper runs two hours and uses a 50% pass mark.
CFA-style aptitude tests are typically 25–30 minute timed online assessments combining numerical reasoning (data tables, percentages, ratios), verbal reasoning and basic financial concepts. There's no formal pass mark — recruiters compare candidates against percentile benchmarks for the role.
What's covered
AAT Bookkeeping Transactions covers double-entry, books of prime entry, the trial balance, VAT on sales and purchases, and the principles of ethics. AAT Bookkeeping Controls covers control accounts, journals, the bank reconciliation, payroll postings and correction of errors.
ACCA Foundations papers cover Recording Financial Transactions (FA1), Maintaining Financial Records (MA1) and Management Information (MA2) — the equivalents of AAT Levels 2 and 3 but with an IFRS-leaning syllabus.
CFA-style aptitude papers focus on speed and accuracy with percentages, ratios, growth rates and chart interpretation. Expect 60–90 seconds per question.
How to study and pass first time
For AAT, drill the double-entry rules until they're automatic: debits increase assets and expenses; credits increase liabilities, equity and income. Memorise the standard VAT rate (20%), the reduced rate (5%) and the registration threshold (£90,000 from April 2024).
For ACCA Foundations, work the official BPP or Kaplan question banks — exam questions are drawn from the same style and weighting.
For aptitude tests, practise mental maths under a timer. The right answer with one second to spare is worth far more than the perfect calculation that takes too long.
Common mistakes to avoid
Confusing the gross / net / VAT relationship. If a sale is £120 inclusive of 20% VAT, the VAT element is £20 (gross ÷ 6), not £24 (£120 × 20%).
Forgetting that a discount allowed is an expense to the seller and a discount received is an income to the buyer.
On aptitude tests, spending too long on the first few questions and running out of clock for the easier ones at the end. Always scan the whole paper first if the format allows.
Why active practice testing works
Finance exams are pattern-matching exercises. Once you've drilled fifty mock VAT or double-entry questions, the unfamiliar wording in the real exam stops being unfamiliar — you recognise the pattern and answer in seconds.
Each AAT and ACCA re-sit costs £70–£120 and adds at least a month before you can re-book, so practice is the highest-return revision activity in early-career finance.
Booking and what to expect
Book AAT exams through your training provider or directly via the AAT website once you're a registered student. ACCA Foundations exams book through Pearson VUE on demand, with slots usually available within two weeks.
Aptitude tests are sent by recruiters as an emailed link — the deadline is typically five working days. You're free to use scrap paper and a calculator unless the test instructions say otherwise.