[Feb 29, 2024] Get to the Top with E1 Practice Exam Questions
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CIMA E1 exam is an important part of the Certificate in Business Accounting (CBA) program, which is an entry-level qualification for aspiring accountants and finance professionals. Managing Finance in a Digital World certification is recognized globally and is a great way to demonstrate your skills and knowledge to potential employers. By passing E1 exam, you can establish yourself as a competent and knowledgeable finance professional.
NEW QUESTION # 183
N works in the Finance Department of a frozen food distribution company. His role includes analysing how long it takes for customers to settle their accounts and, in turn, when the company's payables are cleared.
Which of the following is described above?
- A. Performance reporting
- B. Preparation of forecasts
- C. Working capital control
- D. Cost reporting
Answer: C
NEW QUESTION # 184
Which of the following is an example of sustainability impacting operations management?
- A. A company sells goods to developing nations
- B. A company has a whistle-blowing policy
- C. A company keeps profits within the business for future investment
- D. A company only buys printer paper that has been recycled
Answer: D
NEW QUESTION # 185
An internal audit department is set up to help prevent fraud. Which of the following are possible implications if fraud is allowed to take place?
Select ALL that apply.
- A. Criminal charges
- B. Inadequate segregation of duties
- C. Theft of goods
- D. Loss of new investors
Answer: A,C,D
NEW QUESTION # 186
The marketing environment includes political, economic, social, technological, ecological and legal factors affecting marketing (PESTEL). Select THREE examples of economic factors.
- A. The introduction of new legislation relating to business tax
- B. Social mobility
- C. New ways of distribution
- D. Interest rates
- E. The rate of inflation
- F. Consumers' propensity to save
Answer: D,E,F
NEW QUESTION # 187
Company Q has several layers of management. The Chief Executive Officer (CEO) wishes to remove some of these layers to streamline the organisation and increase efficiencies. The initial plan is for third party contractors to take over support activities. What change in the organisation is the CEO making?
- A. Vertical expansion
- B. Horizontal expansion
- C. Outsourcing
- D. Alliance agreement
Answer: C
NEW QUESTION # 188
Which of the following organisations would best describe a 'professional bureaucracy'?
- A. A project based company
- B. A hospital
- C. A newsagent
- D. A manufacturing company
Answer: B
NEW QUESTION # 189
Which of the following is NOT a component of the working capital cycle?
- A. The time taken by the bank to approve lending
- B. The time taken to produce the goods
- C. The average time that raw materials remain in inventory
- D. The time taken by customers to pay for the goods
Answer: A
NEW QUESTION # 190
There are four types of quality cost - prevention, appraisal, internal and external failure. Which of the following provides the best description for an external failure cost?
- A. The cost of training staff
- B. The cost to repair a machine that has broken down
- C. The cost of inspecting finished goods
- D. The cost of repairing products returned by customers
Answer: D
NEW QUESTION # 191
Which of the following does NOT help to bring about operational improvement in the manufacturing process of an organisation?
- A. Just-in-Time
- B. Market research
- C. Kaizen
- D. Six Sigma
Answer: B
NEW QUESTION # 192
Workforce flexibility takes a number of different forms. Which of the following achieves flexibility where employees have the ability to move between tasks as and when required by the organisation?
- A. Temporal flexibility
- B. Shift system flexibility
- C. Numerical flexibility
- D. Functional flexibility
Answer: D
NEW QUESTION # 193
L is employed within a startup organisation that has limited funds. The organisation is a firm of lawyers specialising in all legal fields, such as family law, property law, commercial law and litigation. Due to the relative infancy of the organisation, and restrictions on funds, they have to be prudent with their choice of information systems. They have all the IT they need for staff but the agreed best way to build the business has been to focus on building their client and prospective client base. Which of the following should the organisation invest in to help achieve this aim?
- A. Purchase cloud backup capabilities
- B. Enterprise Resource Planning software
- C. Intranet
- D. Customer Relationship Management software
Answer: D
NEW QUESTION # 194
An individual works for Organisation A.
They are responsible for collating financial information from all the local County primary schools in order to report budgetary requirements for the next financial year.
An individual works for Organisation B.
They are responsible for collating financial information from all the local charity shops in order to report donation items and items sold.
An individual works for Organisation C.
They are responsible for counting and recording raw materials stock, work in progress and finished goods stock on a monthly basis for the managers to report on rates of stock wastage and pilferage at the monthly board meeting.
For each of the organisations above, match them with the relevant sector below.
Answer:
Explanation:
NEW QUESTION # 195
R works in the finance function of TX Company, a large multinational vehicle manufacturer.
Most of R's work involves shaping how the company creates and preserves value by using effective controls.
Which of the following activities is R most likely to be involved with?
- A. Budgeting
- B. Reviewing customer satisfaction
- C. Variance analysis
- D. Sales forecasting
Answer: C
NEW QUESTION # 196
Cyber and physical systems becoming increasingly autonomous is part of which characteristic of the 4th industrial revolution?
- A. Machine-led manufacturing
- B. Employment
- C. Fusion
- D. Artificial intelligence
Answer: C
NEW QUESTION # 197
Barry has heard that the government is planning to tighten environmental regulations. He doesn't like the sound of this, as even though some businesses won't be affected that much, he will have to end up paying a lot more to run his business.
Which of the following options would be most effective in preventing the government from imposing such regulation?
Select ALL that apply.
- A. Make a large donation to the the main opposition party in the hope they'll put pressure on the governing party to not impose the new regulation.
- B. Tell a member of the governing party that he has some unscrupulous information about the party that he'll leak to the press if they go ahead with their plans to impose new regulation.
- C. Make a large donation to the party in power in the hope that they'll abandon their plans to impose new regulation.
- D. Try and set up meetings with high-ranking members of the government to persuade them to not impose the new regulation.
Answer: C,D
NEW QUESTION # 198
Lancaster and Withey (2003) identifies five steps in consumer decision making. Which THREE are valid?
- A. The purchase decision
- B. Evaluation of the sellers website
- C. Need/problem recognition
- D. Post purchase evaluation
- E. The sale decision
Answer: A,C,D
NEW QUESTION # 199
Company S is a busy vehicle part manufacturer specialising in commercial vans and lorries. The company takes as many as nine deliveries of raw materials every day and these items are entered into the electronic inventory system upon arrival. When an item of inventory is taken from stores this is also updated electronically. Which inventory control system would be best utilised within Company S?
- A. Continual inventory system
- B. ABC inventory system
- C. Periodic inventory system
- D. First in, first out system
Answer: A
NEW QUESTION # 200
E's manager is concerned about bullying in the organisation and has asked E to report on the situation.
As a result, E has carried out the following work;
* Collected data of the numbers of complaints made
* Produced a bar chart based on incidences in different departments
* Interviewed a sample of employees
* Calculated the cost of employees being away from work sick due to bullying Which of the pieces of work that E has carried out is qualitative analysis?
- A. Interviewing a sample of employees.
- B. Calculating a financial cost
- C. Producing a bar chart of incidences.
- D. Collecting data of complaints
Answer: A
NEW QUESTION # 201
When involved in business decision making it is important to observe the concept of objectivity. Which THREE of the following are examples of an effective application of this concept?
- A. Not being influenced by other people
- B. Not disclosing confidential information
- C. Not allowing bias to influence opinion
- D. Maintaining technical and professional standards
- E. Not allowing conflict of interest to influence decisions
- F. Being honest and truthful in business relationships
Answer: A,C,E
NEW QUESTION # 202
Level one of the contemporary shape of the finance function involves strategic leadership of the finance team.
The head of the finance function is.
- A. The Chief Executive Officer
- B. The Finance Treasurer
- C. The Financial Accountant
- D. The Chief Financial Officer
Answer: D
NEW QUESTION # 203
Which of the following do working capital reports include?
- A. Performance reports
- B. Budgets
- C. Cost of sales
- D. Cash reports
Answer: D
NEW QUESTION # 204
Which TWO of the following relate to corporate social responsibility (CSR) rather than corporate governance?
- A. Strong accountability through a board of directors
- B. Eliminating discrimination in company advertising
- C. Achievment of high levels of degradable packaging
- D. Safeguarding against decision making being dominated by one person
- E. Independently determined remuneration based on clear criteria
Answer: B,C
NEW QUESTION # 205
Which of the following gives the correct combination of valid stages in the HR cycle?
- A. Selection, culture, recruitment, induction rewards, budgets
- B. Selection, performance, appraisal, rewards, training and development
- C. Selection, performance, culture, appraisal, rewards, training and development
- D. Recruitment, selection, induction, rewards, budgets
Answer: B
NEW QUESTION # 206
When implementing a new IT system and according to the theory of Kotter, Schlesinger and Sache, which of the following is a benefit of using participation as a way of overcoming resistance to change?
- A. Conflict is dealt with in an orderly fashion.
- B. Understanding the benefits will lead to acceptance.
- C. Involving user expertise will encourage commitment.
- D. Compromise will overcome resistance.
Answer: C
NEW QUESTION # 207
Company Y is a new business that prides itself on being green and ethical. It uses renewable energy to run its factories, abides by all the rules and regulations and regularly donates money to sustainable development charities around the world, despite occasionally being unable to fully pay its workers.
Why is Company Y in violation of Carroll's CSR pyramid?
- A. It is not in violation of Carroll's pyramid.
- B. Because it is not profitable.
- C. Because it is breaking the law by using renewable energy only to run its factories.
- D. Because using renewable energy to run factories generally isn't advised as it can be unreliable.
- E. Because it should be donating to charities based in their own country.
Answer: B
NEW QUESTION # 208
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The CIMA E1 exam is computer-based and comprises 90 multiple-choice questions. Candidates have two hours to complete the exam, and the passing score is 70%. E1 exam is available on-demand and can be taken at any time throughout the year at CIMA-approved test centers worldwide.
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