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

CMA-Financial-Planning-Performance-and-Analytics real exams

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

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

                                                                                                      1. Which one of the following is the least important for a successful budget process?

                                                                                                      A) The degree of alignment between the budget and other performance goals
                                                                                                      B) The level of participation in the budget process
                                                                                                      C) Top management support
                                                                                                      D) Integrated budget software


                                                                                                      2. Scully Tools Company is currently completing its master budget for the coming year Immediately before the master budget is approved, it is determined that December sales should be revised upward by S120.000 .
                                                                                                      Scully purchases merchandise on a just-in-time basis, and remits cash immediately through electronic transfer All sales are on account. 20% of the sales are collected in the month of sale, and 80% in the month following the sale. Scully's gross profit percentage is 30%. What effect will this budget revision have on Scully's pro forma statement of cash flows?

                                                                                                      A) Cash will increase by $24,000
                                                                                                      B) Cash will decrease by $60,000
                                                                                                      C) Cash will decrease by $84,000
                                                                                                      D) Cash will increase by $36,000


                                                                                                      3. A company has four product noes and must decide to discontinue one so mat it can focus on its more profitable products Information about the four product lines is shown below.

                                                                                                      if the company evaluates profitability based on ROl. which product line should be discontinued?
                                                                                                      Calculator

                                                                                                      A) Product line Z.
                                                                                                      B) Product line X.
                                                                                                      C) Product line Y.
                                                                                                      D) Product line W.


                                                                                                      4. identity and explain one benefit and one limitation of outsourcing most of me payroll-related work to an outside payroll service provider.
                                                                                                      Essay
                                                                                                      Zhiliang Foods Inc. (ZFI) is a privately-held food distributor ZFI has two production departments' the Meat Department is labor-intensive. while the Bakery Department is highly automated ZFI applies a single overhead allocation rate, using the number of pounds produced as an allocation base for the whole company The expected annual overhead costs of ZFI for 100 million pounds produced are as follows (¥ in millions).

                                                                                                      ZFI has one payroll administrator in its Human Resources department, but most of the payroll related work is outsourced to a payroll service provider ZFI's payroll administrator is responsible for tracking the list of current employees and maintaining the most up-to-date employee information, including bank accounts for payroll direct deposits.
                                                                                                      Each pay period, the payroll administrator emails the information for all current employees' hours worked to the payroll service provider. The service provider then processes the payroll, makes direct deposits to employees' bank accounts, mails payroll stubs to employees' homes and emails payroll reports to ZFI's payroll administrator. The payroll administrator then makes payroll journal entries to ZFI's accounting system based on the payroll reports received ZFI's accountant prepares a bank reconciliation each month to ensure ZFI s payroll payments on ZFI's bank statement match the amounts shown on the payroll reports from the service provider.
                                                                                                      ZFl's management is evaluating the purchase of data encryption software and human resources management software next year. The human resource management software is expected to provide various human resources and payroll-related functions.
                                                                                                      In addition, the human resource software can generate a report to indicate the monthly employee turnover rate and the average service length of employees who have resigned. The system can also generate a report to indicate the main reasons for resignations and identify current employees who are at risk of resigning. The system will recommend actions to help retain these employees, such as more training opportunities or a pay raise.


                                                                                                      5. Collins Corporation manufactures its products in a highly automated, just-in-time environment and uses a standard cost system. The variance that would cause the least concern would be a

                                                                                                      A) 30% unfavorable direct labor efficiency variance caused by idle time while waiting for goods to be received from a previous manufacturing department
                                                                                                      B) 9% unfavorable material price variance caused by changing to a supplier that would support the company's just-in-time needs.
                                                                                                      C) 6% unfavorable fixed overhead volume variance caused by work stoppages because of missing parts
                                                                                                      D) 12% unfavorable variable overhead spending variance caused by keeping equipment running during times when there is no production activity


                                                                                                      Solutions:

                                                                                                      Question # 1
                                                                                                      Answer: D
                                                                                                      Question # 2
                                                                                                      Answer: C
                                                                                                      Question # 3
                                                                                                      Answer: B
                                                                                                      Question # 4
                                                                                                      Answer: Only visible for members
                                                                                                      Question # 5
                                                                                                      Answer: B

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