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Cima P2 Exam Questions

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Cima p2 exam questions

CIMA P2 - Advanced Management Accounting exam in just 24HOURS!

100% REAL EXAM QUESTIONSANSWERS

CIMA P2 - Advanced ManagementAccounting

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SampleQuestions


Cima p2 exam questions

Question No1:

Which TWO of the following are examples of management information made possible by the availability of bigdata?

Customer profitability analysis to identify key strategiccustomers

Customer information harvested from social media to targetproducts

Production cycle time analysis to improve productionefficiency

Real-time inventory management information shared with producers to influence their productionplans

A five-year history of a company's aged debtor list to assess the long-run effectiveness of creditcontrol

Answer: B, D Question No2:

Company D is about to launch an innovative and unique product which may face direct competition within three years. The company needs to achieve a rapid payback on all investments because it has limited access to externalfinance.

Which is the most appropriate pricing strategy for company D's new product, and for what reason?

Market skimming because it exploits areas of the market which are sensitive toprice.

Penetration pricing because it can be used to rapidly build sales volume in mature markets.

Market skimming because it enables high prices to be charged to buyers who want the product as soon aspossible.

Penetration pricing because it can be used to rapidly build sales volume in high growth markets.

Answer: C Question No3:

Performance measures that monitor the extent to which a not-for-profit organization's objectives have been achieved are measuresof:

Economy

Efficiency

Effectiveness

Enterprise


Cima p2 exam questions

Answer: C Question No4:

An organization employs a dual pricing basis for the transfer of components between its divisions. This meansthat:

Each division has a separate transfer price for a singletransaction.

The transfer price is based on marginal cost with a separate charge to allow for fixed costs.

The transfer price is based on the cost of the product plus a mark-up forprofit.

The transfer price is based on the market price less adiscount.

Answer: A Question No5:

For a complex and repetitive task, which of the following correctly describes a steep learning curve?

Repeated training may be required but this will not necessarily result in a reduction in the time taken to complete thetask.

After the initial learning period there will be a rapid reduction in the time taken to complete thetask.

There will be a long period before there is a reduction in the time taken to complete the task.

After the initial learning period there will be a slow reduction in the time taken to complete thetask.

Answer: B Question No6:

A manufacturing company has recently introduced a Total Quality Management (TQM) system. The company has invested heavily in the education and training of its staff, in addition to implementing new product design engineering. There is a plan to sample units from each batch of products manufactured to test for errors, although this has not yet been implemented due to budgetconstraints.

The company is experiencing high levels of customer complaints, with many faulty units being returned by the customer for refund or replacement. Sales revenue has fallen recently, mainly due to negative press coverage linked to dissatisfiedcustomers.

Select the statement MOST likely toapply.


Cima p2 exam questions

The high level of external failure costs is the result of a lack of expenditure on preventioncosts.

The high level of internal failure costs is the result of a lack of expenditure on appraisal costs.

The high level of external failure costs is the result of a lack of expenditure on appraisal costs.

The high level of internal failure costs is the result of a lack of expenditure onprevention

costs.

Answer: C Question No7:

A company is considering four mutually exclusive projects. There are three possible future demand conditions but the company has no idea of the probability of each of these demand conditions occurring. The forecast net present values (NPVs) of each of the four projects, under each of the three possible future demand conditions, are asfollows.

Which investment would be selected using the maximincriterion?

InvestmentA

InvestmentB

InvestmentC

InvestmentD

Answer:C


Cima p2 exam questions

Question No8:

The following data are available for an investment centre for the latest period. Where appropriate the data have been adjusted to reflect economicvalues.

What cost of capital has been used to calculate theEVA?

Give your answer to the nearestpercentage.

Answer: 9%

Question No9:

A company has three divisions, each of which is an investment centre. The divisional managers' performance is assessed using return on investment (ROI). A higher ROI will result in a higher bonus for the divisional manager. The company's cost of capital is15%.

For the forthcoming year each divisional manager has one investment opportunity available asfollows:

The manager(s) of which division(s) will proceed with their respective investment opportunity?


Cima p2 exam questions

Division 1 and Division3

Division 2 and Division3

Division 3only

Division 1only

Answer: B Question No10:

A company makes three products, E, F and G. Total overheads for the year are expected tobe

$1.2 million, with the following split between costpools:

Cost driver information has been estimated asfollows:

The company plans to make 10,000 units of product E in the year, with an expected direct cost of $0.60 per unit. This annual production of product E is expected to require 20 quality inspections, 28 purchase requisitions, and 400 kilogrammes ofmaterials.

What is the overhead cost per unit of productE?

A. $0.10 B. $0.70 C. $3.57 D. $4.17

Answer:A

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