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CIMA Managing Finance in a Digital World Sample Questions:

1. An organisation owned by its customers, generally not-for-profit and in the private sector, is commonly known as which one of the following?

A) Mutual organisation
B) Partnership
C) Sole trader
D) Charity


2. A business is seeking to introduce TQM. It gets some advice from a business consultant on how to ensure it is successful in its implementation. Which of the following are likely to be included in the advice they receive?
Select ALL that apply.

A) Communicate frequently to your business.
B) Motivate and train your staff to take up the ethos of quality.
C) Ensure a clear budget is identified for TQM.
D) Give a fixed time scale for the TQM project.
E) Encourage the sharing of ideas.
F) Gain full commitment from your entire management team.
G) Get your suppliers involved in TQM.
H) Ensure TQM gets strategic focus.
I) Introduce a TQM department in the organisational structure.


3. Level 2 of the contemporary shape of the finance function involves Strategic Business Partnering In this context strategic partners are

A) Project managers
B) Finance professionals
C) Senior management
D) Outsourced partners


4. Which of the following would be a disadvantage of the use of 'big data'?

A) Increased speed of decision making
B) Increased volume of unstructured data
C) Increased relevance of decisions
D) Increased system requirements


5. Which of the following is a disadvantage of outsourcing?

A) Transaction costs will arise as a consequence of the outsourcing agreement.
B) It can save on costs by making use of a supplier's economies of scale.
C) Outsourcing can remove uncertainty about cost.
D) Access to specialist knowledge is made possible.


Solutions:

Question # 1
Answer: D
Question # 2
Answer: A,B,E,F,G,H
Question # 3
Answer: C
Question # 4
Answer: D
Question # 5
Answer: A

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