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IMA CMA Part 1: Financial Planning - Performance and Analytics : CMA-Financial-Planning-Performance-and-Analytics Exam

CMA-Financial-Planning-Performance-and-Analytics Exam Questions
  • Exam Code: CMA-Financial-Planning-Performance-and-Analytics
  • Exam Name: CMA Part 1: Financial Planning - Performance and Analytics Exam
  • Updated: Aug 13, 2026
  • Q & A: 112 Questions and Answers
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IMA CMA-Financial-Planning-Performance-and-Analytics Exam Syllabus Topics:

SectionWeightObjectives
Topic 1: Technology and Analytics15%- Data Governance
  • 1. Data quality and integrity
    • 2. Data security policies
      - Information Systems
      • 1. Enterprise Resource Planning (ERP)
        • 2. Financial systems architecture
          - Technology-Enabled Finance Transformation
          - Data Analytics
          • 1. Predictive and prescriptive analytics
            • 2. Data visualization
              • 3. Big data concepts
                Topic 2: Cost Management15%- Costing Systems
                • 1. Joint and by-product costing
                  • 2. Process costing
                    • 3. Activity-based costing
                      • 4. Job order costing
                        - Overhead Costs
                        - Supply Chain and Business Process Improvement
                        - Measurement Concepts
                        • 1. Cost behavior
                          • 2. Actual, normal and standard costs
                            • 3. Absorption vs variable costing
                              Topic 3: External Financial Reporting Decisions15%- Financial Statements
                              • 1. Statement of changes in equity
                                • 2. Integrated reporting
                                  • 3. Statement of cash flows
                                    • 4. Income statement
                                      • 5. Balance sheet
                                        - Recognition, Measurement, Valuation and Disclosure
                                        • 1. U.S. GAAP vs IFRS differences
                                          • 2. Asset valuation
                                            • 3. Liability valuation
                                              • 4. Income measurement
                                                • 5. Revenue recognition
                                                  • 6. Equity transactions
                                                    Topic 4: Internal Controls15%- System Controls and Security
                                                    • 1. Business continuity planning
                                                      • 2. Data security and backup
                                                        • 3. General and application controls
                                                          - Governance, Risk and Compliance
                                                          • 1. Risk assessment and management
                                                            • 2. Internal control frameworks (COSO)
                                                              • 3. Internal control procedures
                                                                Topic 5: Performance Management20%- Cost and Variance Measures
                                                                • 1. Static and flexible budget variances
                                                                  • 2. Material, labor and overhead variances
                                                                    • 3. Mix and yield variances
                                                                      - Performance Measures
                                                                      • 1. Residual Income (RI)
                                                                        • 2. Balanced Scorecard
                                                                          • 3. Return on Investment (ROI)
                                                                            • 4. Economic Value Added (EVA)
                                                                              - Responsibility Centers and Reporting Segments
                                                                              • 1. Cost, profit and investment centers
                                                                                • 2. Segment reporting
                                                                                  • 3. Transfer pricing
                                                                                    Topic 6: Planning, Budgeting and Forecasting20%- Forecasting Techniques
                                                                                    • 1. Regression analysis
                                                                                      • 2. Expected value
                                                                                        • 3. Time series analysis
                                                                                          • 4. Learning curve analysis
                                                                                            - Pro Forma Financial Statements
                                                                                            - Strategic Planning
                                                                                            • 1. Strategic planning process and analysis
                                                                                              - Budgeting Concepts and Methodologies
                                                                                              • 1. Flexible budgets
                                                                                                • 2. Operating and financial budgets
                                                                                                  • 3. Zero-based and rolling budgets
                                                                                                    • 4. Activity-based budgeting

                                                                                                      IMA CMA Part 1: Financial Planning - Performance and Analytics Sample Questions:

                                                                                                      1. In developing a risk-based approach to internal control, a company is considering the risks posed to various accounts due to the complex calculations involved as well as industry factors that make measurement difficult.
                                                                                                      These risk factors are part of

                                                                                                      A) account level risk
                                                                                                      B) systems risk
                                                                                                      C) inherent risk
                                                                                                      D) control risk


                                                                                                      2. Brickworks Inc. prepares its annual budget by focusing on the budgeted costs of the processes necessary to produce and sell its products This type of budgeting is known as

                                                                                                      A) activity-based budgeting
                                                                                                      B) zero-based budgeting
                                                                                                      C) flexible budgeting
                                                                                                      D) project budgeting


                                                                                                      3. Grayson Inc. experienced the following costs per unit this year for one of the direct materials involved in producing its main product
                                                                                                      3.1 pounds @ $4 20 per pound = $13.02 per finished unit
                                                                                                      For the next year. Grayson expects to produce 7.400 finished units. The price per pound of the direct material is expected to rise 10%. To combat this increase. Grayson has adapted its manufacturing process to reduce the amount of the direct material needed per finished unit by 5% What is the direct materials budget for the next year?

                                                                                                      A) $101,165
                                                                                                      B) $105,983
                                                                                                      C) $100,684
                                                                                                      D) $91,531


                                                                                                      4. in preparing Klein Corporation's master budget for the following calendar year, the manager of the Production Department requested the purchase of a new piece of machinery with a purchase price of $150.000 in addition, the cost of installing the machine would total $13.000. The purchase price of the machine would be financed by a 6%. 5-year loan with interest due quarterly. The amount Klein Corporation should include in its Capital Expenditures Budget due to this purchase is

                                                                                                      A) $172,000
                                                                                                      B) $163,000
                                                                                                      C) $22,000
                                                                                                      D) $13,000


                                                                                                      5. A corporation had foreign currency translation gains from converting the financial statements of its foreign operations into U.S dollars .How will these gains be reported on the corporation's financial statements?

                                                                                                      A) As part of net income on the income statement
                                                                                                      B) As a net increase in cash in the operating activities section of the statement of cash flows
                                                                                                      C) As a current asset on the balance sheet
                                                                                                      D) As part of comprehensive income on the income statement


                                                                                                      Solutions:

                                                                                                      Question # 1
                                                                                                      Answer: C
                                                                                                      Question # 2
                                                                                                      Answer: B
                                                                                                      Question # 3
                                                                                                      Answer: C
                                                                                                      Question # 4
                                                                                                      Answer: A
                                                                                                      Question # 5
                                                                                                      Answer: D

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