To address key bottlenecks in automated multiple-choice question (MCQ) generation—namely, shallow cognitive modeling, distractors lacking discipline-specific misconceptions, and poor scalability—this paper proposes a hierarchical concept graph–guided LLM collaborative generation framework. The method integrates structured physics concept graph modeling, domain-adaptive retrieval-augmented generation (RAG), misconception-driven prompt engineering, and an automated quality validation pipeline. It is the first to enable cognitively layered MCQ generation with misconception-embedded distractors. Experimental results demonstrate significant improvements: expert evaluation pass rate reaches 75.2% (vs. baseline 37.0%), and student random-guessing rate drops to 28.05% (vs. baseline 37.10%). These gains markedly enhance diagnostic validity and feedback efficiency of assessments, establishing a novel paradigm for intelligent educational assessment.