May 2021 CPA CFE Cases and Answers (Download)

Update: You can download the May 2022 CFE cases here. September 2022 cases are here.

Similar to prior Common Final Exams (CFEs), the May 2021 CFE had Day 1, 2 and 3 cases. The following Day 1 cases were tested:

May 2021 CFE:

  • Waste Disposal Incorporated (WDI) v1 (download)
  • Distinct Hotels Corporation (DHC) v2 (download)

The following Day 2 and Day 3 cases were tested in May 2021 CFE:

  • Day 2 (download):
    • RMZ Pharmaceuticals Inc. (RMZ) (300 minutes)
  • Day 3 (download):
    • Sally’s Good Furniture (SGF) (85 minutes)
    • Kitchen Apparel Inc. (KAI) (85 minutes)
    • Wicked Water Sarnia Inc. (WWS) (85 minutes)

Note: September 2021 CFE will have these Day 1 cases:

  • Waste Disposal Incorporated (WDI) v2
  • Distinct Hotels Corporation (DHC) v3

Where can I get these cases?

You can download by clicking on the hyperlinks above.  If you are registered for the Capstone 2 module for Winter 2022, you will also receive these cases at the module. If you are someone challenging the exam, such as an internationally trained accountant applying under MRA/MOU, you can download using the links above.

Where can I get the solutions?

I have written my version of the solutions to May 2021 CFE cases, which you can get from here. The official solutions will be released in February, 2022, per CPA Canada’s announcement

How do I prepare for the CFE?

There are several prep methods for the CFE. You will need to focus on these three items:

  1. Technical knowledge
  2. Case writing skills
  3. Strategy

I speak a lot about these items on my YouTube channel and webinars. You can check out my latest webinar.


  • Know the key topics on each of the competencies
  • Distinguish depth from breadth
  • Debrief

Case writing skills:

  • It’s all about following the CPA Way
  • Know your case inside out
  • Integrate throughout the case


  • Prepare a study plan
  • Obtain study materials
  • Get support and resources

Pass the CPA Canada CFE Exam

I’m Gevorg. I’m an instructor and a CPA exam coach. I’ve been featured on CBC News and Google News as a CPA exam expert. If you want coaching with me, sign up for my CPA CFE Review Course, for a comprehensive prep package.

CFE Review by Gevorg CPA