CMA-Financial-Planning-Performance-and-Analytics Practice Online

Question 1

Which oneof the following best describes the difference between a normal costing system and an actual costing system?

A : Direct labor cost is estimated using a predetermined rate under a normal costing system, while it is the actual value under an actual costing system.

B : Direct material cost is estimated using a predetermined rate under a normal costing system while it is the actual value under an actual costing system

C : Factory overhead cost is estimated using a predetermined rate under a normal costing system,while it is me actual value under an actual costing system.

D : Both direct labor cost and direct material cost are estimated using a predetermined rate under a normal costing system, while they are the actual value under an actual costing system

Answer: C

Question 2

Which one of the following is not considered to be a Benefit of participative budgeting?

A : Managers are held responsible for reaching their goals and cannot shift responsibility by blaming the unrealistic goals demanded by the budget.

B : Budget estimates are prepared by those in direct contact with various activities

C :

individuals at all organizational levels are recognized as being pan of the team resulting in greater

support of the budget

D :

When managers set the final targets for the budget, it reduces top management's concerns about the

profitability of operations

Answer: D

Question 3

All of the following are limitations of teaming curve analysis except that

A : the learning rate tends to be affected by seasonality in sales

B : the estimated learning rate might be unreliable because other factors could have caused the change

C : the learning rate is assumed to be constant

D : it is appropriate only for labor-intensive repetitive tasks

Answer: A

Question 4

Which one of the following activities is not a pan of the data mining process?

A : Applying statistical techniques to derive information from large sets of data

B : Using artificial intelligence to identify patterns in large data sets

C : Generating recommendations based on insights derived from large databases

D : Creating valid and useful information from large data sets using statistical methods

Answer: C

Question 5

Which one of the following statements best defines datagovernance?

A : Procedures implemented by the board of directors to manage data.

B : A framework used to oversee the availability, usability and integrity of data

C : The company's framework for supervising and managing the IT function

D : The corporate records retention policy setting out the contents of the system data records

Answer: C

Name:	CMA Part 1 Financial Planning, Performance, and Analytics
Exam Code:	CMA-Financial-Planning-Performance-and-Analytics
Certification:	CMA
Vendor:	IMANET
Total Questions:	115
Last Updated:	May 08, 2024

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