CMA Part 1
Practice Exams

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Practice Exam 10

CMA Part 1 Practice Exam 10

Finish your preparation with our tenth and final free CMA practice test. This comprehensive set of exam-style questions gives you one more opportunity to test your knowledge, strengthen your problem-solving skills, and identify any remaining topics to review before taking the Certified Management Accountant exam.

Next: CMA Part 2 Practice Exam 1

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Part 1 Practice Exam 10

CMA Part 1
Practice Exams

CMA Part 1 Practice Exam 10

Quiz Summary

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Results

Results

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1. Question

Thornton Division had the following results for the year: Sales $2,400,000; Operating income $288,000; Average operating assets $1,600,000. The company’s minimum required rate of return is 15%. What is the division’s Return on Investment (ROI) and Residual Income (RI)?

2. Question

3. Question

The Committee of Sponsoring Organizations of the Treadway Commission (COSO) Internal Control framework identifies five integrated components of internal control. Which of the following correctly lists all five components?

4. Question

Segregation of duties is a fundamental internal control principle. Which three functions must be separated to achieve effective segregation of duties over a transaction cycle?

5. Question

Which of the following scenarios represents the GREATEST segregation of duties risk in a cash receipts process?

6. Question

The Fraud Triangle identifies three conditions that are typically present in cases of occupational fraud. Which of the following correctly matches each condition of the Fraud Triangle with its definition?

7. Question

Ridgeline Co. processes approximately 5,000 vendor invoices per month. The internal audit team wants to test whether invoices are being approved by an authorized manager before payment. Which sampling approach is MOST appropriate for this test of controls?

8. Question

Which of the following BEST describes the purpose of a ‘whistleblower policy’ as an element of an organization’s internal control environment?

9. Question

10. Question

Enterprise Risk Management (ERM), as defined by the COSO ERM framework, extends beyond traditional internal control by requiring organizations to:

Next: CMA Part 2 Practice Exam 1

CMA Part 1Practice Exams

CMA Part 1 Practice Exam 10

Quiz Summary

Information

Results

Results

Categories

1. Question

Thornton Division had the following results for the year: Sales $2,400,000; Operating income $288,000; Average operating assets $1,600,000. The company’s minimum required rate of return is 15%. What is the division’s Return on Investment (ROI) and Residual Income (RI)?

2. Question

3. Question

The Committee of Sponsoring Organizations of the Treadway Commission (COSO) Internal Control framework identifies five integrated components of internal control. Which of the following correctly lists all five components?

4. Question

Segregation of duties is a fundamental internal control principle. Which three functions must be separated to achieve effective segregation of duties over a transaction cycle?

5. Question

Which of the following scenarios represents the GREATEST segregation of duties risk in a cash receipts process?

6. Question

The Fraud Triangle identifies three conditions that are typically present in cases of occupational fraud. Which of the following correctly matches each condition of the Fraud Triangle with its definition?

7. Question

Ridgeline Co. processes approximately 5,000 vendor invoices per month. The internal audit team wants to test whether invoices are being approved by an authorized manager before payment. Which sampling approach is MOST appropriate for this test of controls?

8. Question

Which of the following BEST describes the purpose of a ‘whistleblower policy’ as an element of an organization’s internal control environment?

9. Question

10. Question

Enterprise Risk Management (ERM), as defined by the COSO ERM framework, extends beyond traditional internal control by requiring organizations to:

Next: CMA Part 2 Practice Exam 1

CMA Part 1
Practice Exams