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IMA CMA-Financial-Planning-Performance-and-Analytics Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Topic 1: External Financial Reporting Decisions | 15% | - Recognition, Measurement and Valuation
|
| Topic 2: Performance Management | 20% | - Performance Evaluation
|
| Topic 3: Planning, Budgeting, and Forecasting | 20% | - Planning and Forecasting
|
| Topic 4: Internal Controls | 15% | - Governance and Control
|
| Topic 5: Cost Management | 15% | - Cost Concepts and Methodologies
|
| Topic 6: Technology and Analytics | 15% | - Technology and Data Analysis
|
IMA CMA Part 1: Financial Planning - Performance and Analytics Sample Questions:
Question 1
Which one of me following statements is correct concerning the Sarbanes-Oxley Act of 2002?
A. A company's Chief Accounting Officer cannot have been employed by the company's audit firm for the five years preceding the audit
B. Corporate executives must personally certify the financial statements and company disclosures under the possibility of imprisonment
C. The company's audit firm must be rotated every five years and the lead auditor must be rotated every year
D. The five-member Public Company Accounting Oversight Board will be overseen by the AICPA and the FASB working together
Question 2
Which one of the following activities is not a pan of the data mining process?
A. Creating valid and useful information from large data sets using statistical methods
B. Using artificial intelligence to identify patterns in large data sets
C. Generating recommendations based on insights derived from large databases
D. Applying statistical techniques to derive information from large sets of data
Question 3
Edward Pane is an external auditor who is seeking an understanding of the cash receipts process at his new client Pane decides to use a flowchart to analyze the operations for efficiency and control. Which one of the following statements is true with respect to the decision to use a flowchart for this purpose?
A. Pane properly selected the flowchart as it will help to depict the process and identify any missing or inadequate controls
B. Pane should not use a flowchart as it is used primarily after the risks have been identified
C. Pane should not have selected a flowchart as it is better suited to help with compliance testing of existing controls
D. Pane property selected the flowchart as a tool to match each of the risks to the corresponding primary control
Question 4
The purchasing team manager of a large car retailer is responsible for purchasing cars for the Pest price and managing his team's payroll costs. Once the car is purchased the sales team manager is responsible for setting the prices. Which one of the following statements best describes the team s responsibilities'?
A. The purchasing team is an investment center and the sales team is a profit center
B. The purchasing team is a cost center, and the sales team is an investment center.
C. The purchasing team is a cost center, and the sales team Is a revenue center
D. The purchasing team is an investment center and the sales team is a revenue center
Question 5
Stone Ltd manufactures socket wrenches .The company produced 400 000 wrenches and sold 350,000 this year. The following information pertains to the costs accumulated in Stone's inventory.
What is the difference between Stones operating income under absorption costing and variable costings
A. $19,750 lower using variable costing
B. $28,000 lower using variable costing
C. $16,750 higher using absorption costing.
D. $36.500 higher using absorption costing
Solutions:
| Question 1 Answer: B | Question 2 Answer: C | Question 3 Answer: A | Question 4 Answer: C | Question 5 Answer: C |







