Certified Management Accountant Trivia 2

Question 1

Which organization administers the Certified Management Accountant (CMA) exam in the United States?

Accepted Answer

IMA

Answer

The Institute of Management Accountants (IMA) administers the CMA certification program.

Question 2

The CMA exam is divided into how many parts?

Accepted Answer

2

Answer

The CMA exam consists of two parts: Part 1 (Financial Planning, Performance, and Analytics) and Part 2 (Strategic Financial Management).

Question 3

What is the primary purpose of a flexible budget in management accounting?

Accepted Answer

To adjust budgeted amounts based on actual activity levels

Answer

A flexible budget adjusts revenue and cost estimates to the actual level of activity, making variance analysis more meaningful.

Question 4

Which costing method assigns overhead costs to products based on the activities that drive those costs?

Accepted Answer

Activity-based costing

Answer

Activity-based costing (ABC) assigns overhead by identifying cost drivers for each activity rather than using a single plant-wide rate.

Question 5

The balanced scorecard framework was introduced by which two researchers?

Accepted Answer

Kaplan and Norton

Answer

Robert Kaplan and David Norton introduced the balanced scorecard in a 1992 Harvard Business Review article.

Certified Management Accountant Practice Test