CIMA P2 問題集

質問 1：
The cash flows from a project are detailed in the table below.

To the nearest 1%, what is the project's internal rate of return?
A. 15%
B. 8%
C. 46%
D. 115%
正解：B

質問 2：
Which of the following statements about modified internal rate of return (MIRR) and internal rate of return (IRR) is correct?
A. MIRR and IRR will always rank competing projects in the same order.
B. MIRR uses a more realistic reinvestment assumption than IRR.
C. A project's MIRR will always be higher than its IRR.
D. MIRR favours projects with long payback periods whereas IRR does not.
正解：B

質問 3：
One of an investment centre's products is sold on an external market. Output is limited because the specialist machine that manufactures the product is operating at full capacity.
Current data for the product are as follows.

Investigations have identified that more rigorous maintenance of the machine at an annual cost of
$5,000 would reduce the number of breakdowns and increase its capacity to 1,300 units per year.
There would be no change in the selling price if more units were sold. Any additional labor hours would be paid a premium of 25%. A discount of 2% of the cost of all materials purchased is available if the company increases its purchases to 3,700 kg or more per year.
What would be the increase in the investment centre's annual controllable profit if more rigorous maintenance is undertaken?
A. $21,400
B. $26,160
C. $17,800
D. $23,900
正解：A

質問 4：
The following information is available for four investment projects:

A discount rate of 12% is appropriate for all four projects. The organization is subject to capital rationing and wishes to prioritise the projects using the profitability index (PI).
Which project has the highest PI?
A. Project A
B. Project D
C. Project C
D. Project B
正解：D

質問 5：
In order to remain competitive an organization wishes to achieve cost savings for one of its existing products.
Which of the following correctly describes methods which the organization can use to achieve these cost savings?
Select ALL that apply.
A. Value analysis is examining a product's costs in order to achieve its purpose at a reduced cost while maintaining its reliability and quality.
B. Functional analysis is carried out only on existing products and is concerned only with minimizing the cost of the originally defined functions of a product.
C. Target costing is continuously setting new stretch targets while the product is in production.
D. Value engineering is a fundamental rethinking and radical redesign of an organization's existing processes.
E. Kaizen costing is seeking to make cost savings by continuously making small incremental cost reductions while the product is in production.
正解：A,E

質問 6：
An organization wishes to make its investment decisions on the basis of more than simply a financial appraisal. Which of the following will assist it to take into account both qualitative and quantitative factors?
A. Modified Internal Rate of Return
B. Discounted Payback
C. Cost Benefit Analysis
D. Profitability Index
正解：C

質問 7：
Place each of the activities described below against the correct classification of quality costs.

正解：


質問 8：
An organization uses a balanced scorecard approach to performance measurement, both at the corporate level and to assess the performance of each of its responsibility centre managers.
Which THREE of the following statements are valid in respect of the effect of this approach on the behavior of the responsibility centre managers?
A. It provides them with a range of performance measures to discourage a tendency to focus on only one measure.
B. It encourages them to identify, and deal with, problems at an earlier stage.
C. It provides them with clear guidance as to how customer satisfaction problems should be solved.
D. It encourages them to make decisions that are in line with corporate objectives.
E. It encourages them to focus mainly on short-term financial measures.
正解：A,B,D