Certified Management Accountant Professional Ethics 2

Question 1

Under the IMA Statement of Ethical Professional Practice, which principle requires CMAs to avoid actual or apparent conflicts of interest?

Accepted Answer

Integrity

Answer

The Integrity principle requires members to avoid conflicts of interest and to refuse gifts or favors that could influence their actions.

Question 2

A CMA discovers that her supervisor has directed her to record a transaction in a way that inflates earnings. What is the FIRST step she should take?

Accepted Answer

Discuss the issue with her immediate supervisor

Answer

The IMA's conflict resolution process begins by raising the issue with the immediate supervisor before escalating further.

Question 3

Which of the following BEST describes the confidentiality obligation of a CMA?

Accepted Answer

Disclose confidential information only when legally obligated or with proper authorization

Answer

CMAs must refrain from disclosing confidential information unless legally required or authorized by appropriate management.

Question 4

A CMA accepts a consulting contract with a supplier to his employer without disclosure. This MOST likely violates which IMA ethical standard?

Accepted Answer

Integrity — having an undisclosed conflict of interest

Answer

Integrity requires CMAs to disclose all actual or apparent conflicts of interest, including outside employment relationships with suppliers.

Question 5

The Credibility standard of the IMA Statement of Ethical Professional Practice requires CMAs to:

Accepted Answer

Communicate information fairly and objectively and disclose all relevant information

Answer

Credibility obligates CMAs to communicate information fairly and objectively and to disclose all relevant information that could reasonably influence an intended user's understanding.

Certified Management Accountant Practice Test

Certified Management Accountant Practice Test

Certified Management Accountant Professional Ethics 2