AFAT2 Mock Paper 2 — Taxation Unit 2
Standard AFAT Unit 2 mock covering CGT on multiple assets, IHT on estates and gifts, trust taxation, tapered pension allowance and wrapper comparisons.
- Questions
- 30
- Minutes
- 45
- Pass (70%)
- 21/30
Sit it timed
The timer starts when you press the button. You can still finish after it runs out — it is there to mimic exam pressure, not to lock you out.
Free preview: the first 5 of 30 questions, with a timer to match. Unlock the full paper
Answer options are shuffled on every attempt. Your progress is saved as you go, so a refresh won't lose it.
About AFAT2 Mock Paper 2
This is mock paper 2 of 3 for AFAT2, the Taxation — Unit 2 unit of CeMAP. The 3 papers in this unit run easier → harder so you can build up to exam standard rather than being thrown in at the deep end. This one sits in the standard tier: it is pitched at roughly live-exam difficulty, with distractors that are all plausible until you read them properly.
Every question carries a written explanation, so a wrong answer tells you which rule you have misread instead of just costing you a mark. Questions are original, written against the 2025/26 five-unit CeMAP syllabus, and cover the material the way the examiner tests it — precise recall where recall is tested, and judgement where the paper wants judgement.
Format, timing and pass mark
AFAT2 Mock Paper 2 follows the live AFAT2 format: 20 standalone questions + 2 case studies × 5 linked questions, in 45 minutes — about 90 seconds a question. Pass mark 21/30 (70%), as in the real assessment. There is no negative marking, so answer everything. 2 case studies carry linked questions: read each scenario once, carefully, before answering any part of it.
What this paper tests
The 30 questions in AFAT2 Mock Paper 2 break down across 22 topic areas:
- Case study — Kowalski5 questions
- Case study — Walsh5 questions
- CGT — annual exempt1 question
- CGT — losses1 question
- CGT — property1 question
- CGT — stacking1 question
- Chargeable events1 question
- IHT — death estate1 question
- IHT — estate calculation1 question
- IHT — NRB1 question
- IHT — PET failed1 question
- IHT — RNRB1 question
- IHT — spouse residue1 question
- IHT — taper relief1 question
…plus 8 further topic areas spread across the case studies.
Try two questions from AFAT2 Mock Paper 2
These come from the free preview of this paper. Answer them, then reveal the explanation.
CGT — property
Gain on buy-to-let before annual exempt: proceeds £310,000, cost £180,000, costs £8,000 equals:
- A£122,000
- B£130,000
- C£172,000
- D£310,000
Reveal the answer
A is correct. £310,000 − £180,000 − £8,000 = £122,000.
CGT — stacking
When someone has salary using basic band, residential property gain is taxed at:
- A45%
- B10% only
- C18% on portion within basic band and 24% on remainder
- D24% on all
Reveal the answer
C is correct. Residential rates 18%/24% with band stacking. 10% is general asset basic rate.
Scored under 70%? Revise these next
A near miss is almost always a calculation you cannot do under time pressure, a definition you half-know, or a rule you have never read in the examiner's words. Start with the topic areas above where you dropped marks, then:
- →Drill the calculations on the CeMAP formula sheet — LTV, income multiples, SDLT, APRC, ERCs and rental cover, each worked through.
- →Nail the terminology in the CeMAP glossary — a surprising share of wrong answers are a term you nearly knew.
- →Re-read the syllabus coverage on the AFAT2 exam guide, then sit the next paper in the ramp.
The other AFAT2 mock papers
3 timed mocks for this unit, running easier → harder. Sitting the whole ramp is what moves a borderline score to a comfortable pass.