Trivia Flashcards
7 cards from real Certified Management Accountant practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 7 Trivia flashcards as text
Which organization administers the Certified Management Accountant (CMA) exam in the United States?
Answer: IMA
The Institute of Management Accountants (IMA) administers the CMA certification program.
The CMA exam is divided into how many parts?
Answer: 2
The CMA exam consists of two parts: Part 1 (Financial Planning, Performance, and Analytics) and Part 2 (Strategic Financial Management).
What is the primary purpose of a flexible budget in management accounting?
Answer: To adjust budgeted amounts based on actual activity levels
A flexible budget adjusts revenue and cost estimates to the actual level of activity, making variance analysis more meaningful.
Which costing method assigns overhead costs to products based on the activities that drive those costs?
Answer: Activity-based costing
Activity-based costing (ABC) assigns overhead by identifying cost drivers for each activity rather than using a single plant-wide rate.
The balanced scorecard framework was introduced by which two researchers?
Answer: Kaplan and Norton
Robert Kaplan and David Norton introduced the balanced scorecard in a 1992 Harvard Business Review article.
In cost-volume-profit analysis, the contribution margin ratio equals:
Answer: Contribution margin divided by sales
The contribution margin ratio is calculated as contribution margin divided by sales, showing what percentage of each sales dollar contributes to covering fixed costs and profit.
Which internal control framework is most widely referenced by US public companies under Sarbanes-Oxley compliance?
Answer: COSO Framework
The COSO (Committee of Sponsoring Organizations) Internal Control – Integrated Framework is the standard used for SOX Section 404 compliance.
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Sources & references
Exam facts on this page (fees, format, dates, passing scores) are checked against these official sources; the date is our last check. Editorial policy
- imaglobal.org — Test delivery, eligibility, renewal, score validity, fees, exam format, exam information · verified Oct 2026
- help.imanet.org — Retake policy, passing score, test dates · verified Oct 2026