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CIMA Managing Finance in a Digital World Sample Questions:

1. There are four approaches to system changeover, each of which varies in terms of risk, cost and time. When there is a need to minimise costs and time the most suitable approach would be:

A) Pilot operation
B) Phased changeover
C) Direct changeover
D) Parallel running

2. In a new initiative, Company O has been putting a lot of emphasis on internal awareness of Corporate Social Responsibility and creating value for it's stakeholders. A huge part of this has been about focusing on recycling and making departments accountable.
In order to assist with the achievement of goals in this area, a process has been designed to give some structure to measuring value for each department. Each of the process elements are listed below. Place the steps against each of these to indicate the correct sequence.

3. An electrical goods company produces colourful brochures for customers.
Which element of the marketing mix does this represent?

A) Product
B) Packaging
C) Physical evidence
D) Price

4. Place 'Management accountant' or 'Financial accounant' next to each of the following statements according to which applies.

5. Which of the following is an example of a formal relationship in which two organisations legally contract to co-operate in defined ways to achieve specific commercial objectives?

A) Merger
B) Outsourcing
C) Shared Service Centre
D) Strategic Alliance

Solutions: