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

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Exam Code: CMA-Financial-Planning-Performance-and-Analytics

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

Updated: Aug 21, 2026

Q & A: 112 Questions and Answers

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About IMA CMA-Financial-Planning-Performance-and-Analytics Exam

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IMA CMA-Financial-Planning-Performance-and-Analytics Exam Syllabus Topics:

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

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

                                                                                                      Question 1

                                                                                                      Redstone, inc's budget indicated that it expected to sell 30.000 units of Product A and 90.000 units of Product B Budgeted unit contribution margins were $4 for Product A and $22 for Product B Redstone's actual sales were 28.000 units of Product A and 72.000 units of Product B with actual unit contribution margins of $3 25 and S23 50. respectively. Redstone's sales-mix variance was

                                                                                                      A. $60,750 unfavorable
                                                                                                      B. $54,000 unfavorable
                                                                                                      C. $64,800 unfavorable
                                                                                                      D. $78,000 unfavorable.


                                                                                                      Question 2

                                                                                                      Anatolian Textile Company produces blue-jean pants for a globally known blue-jean brand and its annual financial results are shown below.

                                                                                                      Based on the table the sales-price variance for the company is

                                                                                                      A. €10,500 unfavorable
                                                                                                      B. €10,500 favorable
                                                                                                      C. €4,500 unfavorable
                                                                                                      D. €4,500 favorable


                                                                                                      Question 3

                                                                                                      A company has developed a core competency in data mining. Which one of the following best describes this core competency?

                                                                                                      A. SQL mastery for structuring data as a oasis for applying data analytics
                                                                                                      B. Ability to develop recommendations for action based on the analysts of large data sets
                                                                                                      C. Expertise in extracting data from large volumes of unstructured text using query tools
                                                                                                      D. Ability to derive valid information from large databases using statistical techniques


                                                                                                      Question 4

                                                                                                      Personal Solutions manufactures nand-new personal computers and communications devices The company uses a Job-order costing system and applies manufacturing overhead to products on the oasis of machine hours The following estimates were used in preparing the predetermined overhead rate at the beginning of the year.

                                                                                                      During the year, weak sales led to a reduction in production and a buildup or inventory Production records provided the following information.

                                                                                                      Finished goods inventory included applied overhead of $100.000 while cost of goods sold included applied overhead of $300,000. There was no work-in-process inventory at year end how should the under-applied manufacturing overhead be handled at year end?

                                                                                                      A. $12.500 of the under-applied manufacturing overhead should be charged to finished goods inventory and S37 500 should be charged to Cost of Goods Sold
                                                                                                      B. $12.500 of the under-applied manufacturing overhead should be charged to finished goods inventory and S37.500 should be treated as a period cost
                                                                                                      C. All of the under-applied manufacturing overhead should be earned over until the subsequent year and used to adjust the estimated predetermined rate for that year
                                                                                                      D. All of the under-applied manufacturing overhead should be charged to Cost of Goods Sold for the year.


                                                                                                      Question 5

                                                                                                      Explain the concept of data encryption and discuss how It may be used to protect the email communications between ZFls payroll administrator and the 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.


                                                                                                      Solutions:

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

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