CA Intermediate · Group II
CA Intermediate Jan 2027 – Financial Management and Strategic Management Mock Test Series
3 full-syllabus mock tests for CA Intermediate Financial Management and Strategic Management, for the January 2027 attempt.
- Checked copy within 24 hours
- Checked question by question against the official solution
Was ₹349, now ₹219, 37% off.
180 days of access · till 28 Apr 2027 if you buy today
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What’s inside · 3 papers
3 papers
Financial Management and Strategic Management 3 papers
Financial Management and Strategic Management – Mock Test 1Preview
Financial Management and Strategic Management – Mock Test 2
Financial Management and Strategic Management – Mock Test 3
What you get
- 3 full-syllabus mock tests for Financial Management and Strategic Management
- Copy checked within 24 hours with ICAI-style step-wise marks
- Reason given for every mark cut, with the correct line to write
- New papers every attempt, set at the real ICAI exam standard
- Every amendment applicable for January 2027 tested
- Personalised study schedule till your exam
- Mentorship whenever you’re stuck, through a ticket or a message
1 checked submission per paper. The official solution is open as soon as you buy.
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- Group II
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Other plans
- CA Intermediate Jan 2027 Group I – Full Syllabus Mock Test Series₹143 per subject, ₹429 in total, was ₹349 per subject, 59% off.
- CA Intermediate Jan 2027 Both Groups – 1 Full Syllabus Mock Test₹63 per subject, ₹379 in total, was ₹149 per subject, 57% off.
- CA Intermediate Jan 2027 Group I – 1 Full Syllabus Mock Test₹93 per subject, ₹279 in total, was ₹149 per subject, 37% off.
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How hard are the papers?
As hard as the real exam. Each paper follows ICAI’s pattern, marking scheme and difficulty, and together the papers cover every topic, with more weight on the topics that come up most.
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Read the refund policyA CA Inter FM SM mock test for Jan 2027 should do what Paper 6 does: two papers in one, a Financial Management half where five linked MCQs build on each other and a Strategic Management half of caselets where one mark goes on naming the concept, all in three hours. This one is a full 100-mark Paper 6 on ICAI's current pattern, set on the study material that applies to January 2027. You write it by hand in one sitting, scan your answer sheet and upload one PDF. Your checked copy comes back within 24 hours, with ICAI-style step-wise marks for every question and the reason for every mark cut.
How the whole test series works is on the CA Inter test series page. This page is only about Paper 6; Cost, Audit and FM-SM together are on the CA Inter Group 2 test series page.
CA Inter FM SM paper pattern
From ICAI's Paper 6 of September 2026 (PDF) (opens in a new tab) and the papers before it:
| Section A: FM (50 marks) | Section B: SM (50 marks) | |
|---|---|---|
| Part I MCQs (15 marks) | Case of Q1 to Q5 (2 each), Q6 and Q7 (2 each), Q8 (1) | Case of Q9 to Q13 (2 each), Q14 and Q15 (2 each), Q16 (1) |
| Part II (35 marks) | Q1 (15) compulsory + any 2 of Q2 to Q4 (10 each) | Q5 (15, three caselets) compulsory + any 2 of Q6 to Q8 (10 each) |
| Internal choice | An OR on Q4(c) | An OR on Q8(b) |
| Kind of questions | About 80% computation; Q4 is theory (4 + 4 + 2) | All applied theory |
The whole paper is 100 marks in 3 hours with no negative marking. Group II is on 8, 10 and 12 January 2027, each paper from 2 to 5 PM (ICAI schedule, PDF (opens in a new tab)); ICAI has not yet announced which paper falls on which date. All six papers side by side are in the CA Inter exam pattern guide.
What applies to CA Inter FM SM in Jan 2027
ICAI's study material notice for January 2027 (PDF) (opens in a new tab) sets, for both halves, the July 2024 edition (Reprint August 2025 onwards) plus the RTP for January 2027.
- SM's July 2026 edition is for May 2027 onwards, and its syllabus matches the July 2024 one. There is no new FM edition.
- No amendments for Paper 6. ICAI issues amendments only for Paper 2 and statutory updates only for Paper 3.
- Tax in FM: each question gives the tax rate to use, so you don't need current tax law.
- SM topics still in the syllabus though not asked lately: Mendelow's matrix, the ADL matrix, PESTLE, the product life cycle and network-level strategy.
- RTP and MTP for January 2027: ICAI's Paper 6 RTP (PDF) (opens in a new tab) is out on boslive.icai.org, and the Paper 6 MTPs are on Monday 30 November (Series I) and Monday 14 December 2026 (Series II), 10 AM to 1 PM (ICAI announcement, PDF (opens in a new tab)). Every paper's MTP date is in the CA Inter MTP Jan 2027 schedule.
The editions for every paper are in CA Inter study material for January 2027.
CA Inter FM SM: where the marks sit
ICAI does not publish a mark-wise split for Paper 6. Across the September 2026, May 2026 and January 2026 papers:
| Chapter | How it has come |
|---|---|
| FM: Investment decisions (NPV, PI, IRR, replacement) | MCQ cases and 5 to 7-mark problems |
| FM: Cost of capital and leverages | MCQs and 3 to 5-mark parts |
| FM: Working capital (estimate, receivables, factoring) | MCQs and 3 to 6-mark parts |
| FM: Ratio analysis | Ratios worked backwards, about 5 marks |
| FM: Types of financing | Theory in Q4 in every paper |
| FM: Capital structure, dividend decisions | 4 to 8-mark problems |
| SM: External and internal environment | Caselets and 5-mark parts (five forces, value chain, SWOT) |
| SM: Strategic choices | Ansoff, BCG, GE matrix, turnaround |
| SM: Introduction; implementation and evaluation | Vision and mission, change, culture, control |
Chapter-wise revision order is in the CA Inter revision planner for Jan 2027.
Where students lose marks in CA Inter FM SM
- FM chains. The case MCQs build on each other (cost of debt, then cash flows, then payback, then NPV), so one early slip can cost several.
- Missed twists. A tax holiday, extra working capital, a salvage value or benefits that run on after year 5: each is a step of its own.
- No decision. "Advise" means the answer ends with a clear choice, supported by the figures.
- SM without the case. Each caselet gives a mark for identifying the concept; then the explanation must use the case's facts, not a textbook paragraph.
- Time drift between halves. Spending too long on FM leaves the 50 SM marks rushed.
How step marks work is in our step marking guide.
How to use a CA Inter FM SM mock
Timing plan for 3 hours. Split it evenly: about 90 minutes per half. In each half, give the 8 MCQs about 20 to 25 minutes, then the compulsory question and your two choices. In SM, name the concept in the first line of each caselet answer. In the mock, write all 16 MCQ answers as a list on the first page, then Section A, then Section B, in one PDF.
When to write it. Once you have revised both halves, by hand, from 2 PM, in one sitting, with the calculator you will take into the hall and a day after each mock to go through the checked copy. The full dated calendar is in the CA Inter mock test plan for Jan 2027. ICAI's own RTP, MTPs and past papers are on our CA Inter free resources page.
Keep an error log by half and by reason: formula, missed twist, no decision, concept not named, facts not used.
Frequently asked questions
Is there negative marking in CA Inter FM SM?
No. There is no negative marking for a wrong answer, so attempt all 16 MCQs.
How are marks split between FM and SM in CA Inter Paper 6?
Equally: 50 marks each, of which 15 are MCQs and 35 are descriptive.
Which study material applies to CA Inter FM SM for Jan 2027?
The July 2024 edition (Reprint August 2025 onwards) of both FM and SM, with the RTP for January 2027, as per ICAI's notice.
Is the CA Inter SM paper only theory?
Yes, but applied: caselets and case MCQs ask you to identify the concept and explain it using the facts given.
Financial Management and Strategic Management guides
Other CA Intermediate papers
Writing the official papers too? Free CA Intermediate resources