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Exam Code CMA-Financial-Planning-Performance-and-Analytics
Exam Name CMA Part 1: Financial Planning - Performance and Analytics Exam
Vendor IMA
Total Questions 83
Last Updated 26-Oct, 2026
Free CMA-Financial-Planning-Performance-and-Analytics Questions Get Premium Access
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Free CMA-Financial-Planning-Performance-and-Analytics Practice Questions

Explore 5 free practice questions for the IMA CMA-Financial-Planning-Performance-and-Analytics exam and review the answers and explanations to support your preparation.

  1. Question 1

    Single answer

    A company has the following accounts included in its trial balance as of December 31
    Preferred stock$200,000
    Common stock$285,000
    Bonds payable$34,000
    Obligations under finance leases$65,000
    Additional paid-in capital$50,000
    Non-controlling interests$13,500
    Retained earnings$78,000
    Treasury stock$56,000
    Accumulated other comprehensive income$22,000
     
    What amount of equity will be reported on me company’s balance sheet as of December 31?

    • Option A:
      $626,500 
      Correct
    • Option B:
      $657,500 
      Correct
    • Option C:
      $92,500.
      Correct
    • Option D:
      $599,000.
      Correct
    Show Answer & Explanation Hide Answer & Explanation

    Correct Answer: C

  2. Question 2

    Single answer

    A company incurred the following selected costs In its manufacturing operations during the month.

    • Option A:
      $20,000
      Correct
    • Option B:
      $21,000
      Correct
    • Option C:
      $22,000
      Correct
    • Option D:
      $23,000
      Correct
    Show Answer & Explanation Hide Answer & Explanation

    Correct Answer: C

  3. Question 3

    Drag & Drop

    identify the category of the Food-To-Go division in the BCG Growth-Share Matrix and discuss whether FDL should allocate more capital funding to the Food-To-Go division.
    Essay
    Food Depot Ltd (FDD is a privately-held company that provides catering services to airlines and operates several restaurant chains including fast food, casual dining, and fine dining restaurants FDL has been profitable m recent years and has a very strong cash position FDL ' s newest division. Food-To-Go. is an online meal ordering and delivery platform acquired by FDL two years ago.
    In 20X7. sales for the entire company were SI billion, with 50% of the business coming from the Airline Catering division. FDL is the country ' s leading airline catering services provider and controls 60% of the market share. However, the outlook of the airline catering industry is gloomy. The compound annual growth rate of the industry for the past five years was only 0.5% as airline networks have increasingly dropped catering on short domestic flights.
    The Food-To-Go division only contributed 5% of FDL ' s total sales in 20X7 and is far behind in competing for market share of the online meal ordering and deliver, industry. It is estimated that Food-To-Go ' s sales were only 20% of the industry leader ' s sales However, the outlook for the online meal ordering and delivery services industry is bright. The compound annual growth rate of the industry since it started three years ago was 50%. It is estimated the rapid growth of the industry will continue in the foreseeable future.
    The costs of shared corporate services are allocated based on each division s revenue FDL usually caps its capital expenditure budget to 4% of budgeted sales revenue In a recent capital budget coordination meeting. Smith Whitney, the head of the Airline Catering division. complained that his division is underfunded on capital projects . The budgeted capital expenditure had been much less than 4 % of the division’s budgeted sales in the past three years He argued that his division is the company ' s best-performing division, and it needs more funds to maintain its market share m the industry Whitney wants to reduce the capital expenditure budget for Food-To-Go and reallocate those funds to his division.
    Susan Wiley, the bead of Food-To-Go, does not agree that the Airline Catering division is the best-performing division in the company Wiley argues that her division had the highest ROI in 20X7. and it deserves more capital funding FDL ' s required rate of return is 12%. The selected financial data for the Airline Catering division and Food-To-Go division in 20X7 are as follows (in $ millions).
                                                                      Airline Catering               Food-To-Go                                                            
    Sales  
    		 $500 
    		                                     $50
    Operating income
    		 $300
    		                                      $5
    Net book value of assets (average for the year)
    		 $2,000
    		                                      $10

    Show Answer & Explanation Hide Answer & Explanation

    Correct Answer

    Answer:
    See the Answer below in Explanation details.

    Explanation

    The food to 90 division will be classed as question mark due to the fact that the market of this industry is growing and expected to grow, however the company share in the market is less as compared to the market leader. It requires funding so that the market opportunities can be exploited and hence the company can expand in this industry to secure its future.

  4. Question 4

    Single answer

    Harris Company sells two products with the following characteristics. 
    Item       Product 1                    Product 2
    Budgeted contribution margin/unit         $5.00                       $8.00
    Budgeted sales units          100,000                     300,000
    Actual sales units        250,000                      250,000
    Harris Company's total sales-mix variance for the year is 

    • Option A:
      $300,000 Unfavorable 
      Correct
    • Option B:
      $350,000 unfavorable 
      Correct
    • Option C:
      $375,000 unfavorable 
      Correct
    • Option D:
      $725,000 Favorable
      Correct
    Show Answer & Explanation Hide Answer & Explanation

    Correct Answer: C

  5. Question 5

    Single answer

    As part of the COSO Internal Control Framework segregation of duties and documentation
    are included in
    which of the components of the COSO model below?

    • Option A:
       Operating environment
      Correct
    • Option B:
      Risk assessment 
      Correct
    • Option C:
      Control activities
      Correct
    • Option D:
      Information and communication
      Correct
    Show Answer & Explanation Hide Answer & Explanation

    Correct Answer: C