CIMA CIMAPRO19-P02-1 問題集

質問 1：
The directors of a company wish to evaluate two mutually exclusive capital investment projects. Both projects have conventional cash flows: an initial outflow followed by a series of annual cash inflows.
The directors are aware of the following three investment appraisal methods: internal rate of return (IRR), net present value (NPV) and accounting rate of return (ARR).
The directors have asked for your advice about which method should be used to evaluate these two projects.
Which of the following is valid advice to give to the directors?
A. IRR should NOT be used because it could result in multiple IRRs.
B. IRR should be used because both NPV and ARR could lead to an incorrect investment decision.
C. ARR should be used because it is based on profit whereas both IRR and NPV are based on cash flows.
D. NPV should be used because it focuses on wealth creation whereas IRR and ARR are both relative measures.
正解：D

質問 2：
The performance report for the production manager of a company for the last month included the following.
1,000 direct labor hours were worked at a basic rate of pay of $10 per hour. 200 of these hours were worked during overtime for which a 30% overtime premium was paid. 80 of these overtime hours were to fulfill a customer order that had originally been planned for manufacture next month. The sales manager had agreed to bring forward the delivery of this order at the request of the customer. The remaining overtime hours were due to unexpected inefficiency of the workforce; this has been traced to poor supervision by a junior manager.
Material costs included the following:
$5,300 of material A. Material A is a commodity and, due to changes on the global market, the actual unit cost of this material for last month was 6% higher than had been expected
$5,250 of material B. The usage of material B last month was 5% higher than it should have been due to faulty workmanship on the production line.
What is the total value of the above costs that was controllable by the production manager?
A. $20,610
B. $20,910
C. $19,810
D. $20,360
正解：A

質問 3：
Which of the following statements is true?
A. Insuring risks means that businesses will not need to take any measures to reduce those risks.
B. Risk hedging is taking action to offset one risk by incurring a new risk in the opposite direction.
C. High frequency, high severity risks are always strategic risks.
D. Risk transfer means the management of a portfolio of different risks.
正解：B

質問 4：
A new product is being manufactured for the first time. The first unit required 600 minutes of labor to manufacture. It is expected that there will be a 90% learning curve for the first 20 units.
The learning index for a 90% learning curve is - 0.152.
Calculate the expected labor time to manufacture the 10th unit.
Your answer should be given to the nearest whole minute.
正解：
360 minutes, 361 minutes, 362 minutes

質問 5：
Which of the following statements are fundamental concepts that underlie the Beyond Budgeting approach?
1. Use traditional budgeting in conjunction with other techniques.
2. Use adaptive management processes rather than the more rigid annual budget.
3. Move towards devolved networks rather than centralized hierarchies.
4. Move towards centralized hierarchies rather than devolved networks.
A. Statements 2 and 3 apply.
B. Statements 1, 2 and 3 apply.
C. Statements 1 and 2 apply.
D. Statements 2, 3 and 4 apply.
正解：A

質問 6：
Place each performance measure against the correct perspective of the Balanced Scorecard for a company that operates a chain of hotels.

正解：