Easily To Pass New E1 Premium Exam Updated [May 20, 2024]
E1 Certification All-in-One Exam Guide May-2024
CIMA E1 exam is an essential stepping stone for candidates who want to pursue a career in management accounting or finance. E1 exam provides a solid foundation in managing finance in the digital age, which is essential for success in today's fast-paced business world. Passing the CIMA E1 exam also opens up opportunities for candidates to progress to higher levels of CIMA certification and professional development.
NEW QUESTION # 49
Vladimir is the managing director of a IT repair business called Screenhax. The company has been operating for 10 years and has around 60 members of staff.
Donald, one of Vladimir employees, committed the act of 'skimming".
What did Donald do?
- A. Donald stole IT equipment from the shop.
- B. Donald's wife had a problem with her computer, so he stole one of the shop's refurbished computers and gave it to her to use.
- C. Donald was responsible for paying all employees at Screenhax. He took advantage of this responsibility by creating a fictitious person and directing money to their account.
- D. Donald borrowed the Screenhax repair van and used it for his own personal commitments without the consent from Vladimir.
- E. Donald repaired a customer's broken computer but did not register the job through the computer system. He then pocketed the cosh.
Answer: E
NEW QUESTION # 50
G Company has recently undergone a series of redundancies meaning that, in the near future, opportunities for promotion of remaining staff are likely to be limited. If the company wishes to keep staff motivated, which of the following techniques should NOT be used?
- A. Job standardisation
- B. Job enrichment
- C. Job enlargement
- D. Job rotation
Answer: A
NEW QUESTION # 51
Porter's Value Chain was developed to determine whether a firm's activities contribute towards it's competitive advantage. E is the new Chief Executive of an organisation which manufactures and distributes hand made wooden furniture. His initial observations are that sometimes the workflow through the organisation can be a little disjointed and it is unclear from overall results which areas contribute to profit and quality and which do not. Using Porter's Value Chain model, identify which THREE of the options below are Primary activities.
- A. Technology
- B. Human resource management
- C. Inbound logistics
- D. Operations
- E. Procurement
- F. Marketing and sales
Answer: C,D,F
NEW QUESTION # 52
Which of the following best describes the concept of corporate digital responsibility?
- A. It is the idea that organisations should be sensitive to all digital stakeholders.
- B. It is legislation which details principles about data such as only using it in a fair, lawful and transparent way.
- C. It is a set of best practice guidelines that adhere to the spirit of the law in digital matters.
- D. It is a voluntary commitment by organisations to go beyond compliance with technology and data legislation.
Answer: D
NEW QUESTION # 53
In a new initiative, Company O has been putting a lot of emphasis on internal awareness of Corporate Social Responsibility and creating value for it's stakeholders. A huge part of this has been about focusing on recycling and making departments accountable.
In order to assist with the achievement of goals in this area, a process has been designed to give some structure to measuring value for each department. Each of the process elements are listed below. Place the steps against each of these to indicate the correct sequence.
Answer:
Explanation:
NEW QUESTION # 54
Which of the following is a reason why businesses need to prepare statutory reports?
- A. To help compare budget with actual performance.
- B. To ensure they have enough inventory on hand for production.
- C. To inform the investors how profitable the business is.
- D. To decide on their foreign exchange hedging policy.
Answer: C
NEW QUESTION # 55
The finance function of an organisation supports the organisation's strategies and operations.
Which THREE of the following activities are fundamental to the role of the finance function?
- A. Recruitment and selection of a new financial controller
- B. Supplier selection for a new raw material supplier
- C. Working capital reporting and control
- D. Customer management and after-sales support
- E. Preparation of plans, forecasts and budgets
- F. Preparation of statutory reports
Answer: C,E,F
NEW QUESTION # 56
Company O has appointed a new CEO who is well known in the industry for making radical changes within the companies that she works for. After her first 9 months in the role, she announced some changes that she wanted to make, starting with the Finance Department. She stressed an intention to focus inwards on improvements to efficiencies and that she was not afraid to make fundamental changes if this is what is required to achieve those improvements. Which of the following is described above?
- A. Relocation of production
- B. Segregation of the finance function
- C. Reconfiguration to market oriented.
- D. Business Process Re-engineering
Answer: D
NEW QUESTION # 57
Corporate social responsibility (CSR) encompasses four different dimensions.
Match each of the descriptions below with the correct CSR dimension.
Answer:
Explanation:
NEW QUESTION # 58
The directors of JES are keen to ensure that expenditure on marketing campaigns is generating additional sales for the company Which of the following KPIs would be appropriate for the directors of JES?
- A. Cost per lead generated.
- B. Return on marketing spend
- C. Customer retention rates
- D. Conversion rate across mediums
Answer: D
NEW QUESTION # 59
Introducing The Finance Function of PRS Company have been working with the Human enable which of the following business advantages'?
- A. An increase in training
- B. An increase in competences
- C. An increase in value adding activities
- D. An increase in relationship management
Answer: C
NEW QUESTION # 60
Which one of the following is NOT part of the role of Human Resource Management?
- A. Being concerned with operational and strategic people issues.
- B. Regarding the line manager's role as transactional with an emphasis on negotiation.
- C. Recognising employees are motivated by consent and involvement.
- D. Viewing employees as assets of the organisation.
Answer: B
NEW QUESTION # 61
In a manufacturing company, it is important to maintain the correct levels of inventory, with particular attention to holding and ordering costs. For each of the types of costs listed below, identify whether these are holding costs or ordering costs:
Answer:
Explanation:
NEW QUESTION # 62
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
Answer: C
NEW QUESTION # 63
Company V is, and has always been, very focused on the importance of stakeholders to the business.
As a well known and very popular private fee-paying school, Company V has to take on board advice, feedback, complaints and queries from a great many different stakeholders, all of which have to be prioritised according to their impact and power over the operations of the company.
Listed below are some of the stakeholders that Company V deal with on a daily basis. Categorise each of these stakeholders according to whether they are internal, connected or external stakeholders.
Answer:
Explanation:
NEW QUESTION # 64
Which of the following are advantages of outsourcing finance? Select ALL that apply.
- A. Allows the organisation's management to focus on its core operations and core issues.
- B. There is a known fee if agreed in advance.
- C. Internal expertise is improved.
- D. The external organisation/individual has an increased understanding of the outsourcing business.
- E. Level of independence is increased.
- F. Increased confidentiality.
- G. Can help to keep costs down and improve quality.
- H. Increased control.
Answer: A,B,G
NEW QUESTION # 65
Stephanie has just secured a job as a management accountant for a well-known banking firm. She needs to understand the organisation's financial position.
What should she do first in order to gain this understanding?
- A. Total all the day books and enter them into ledgers.
- B. Submit the company's accounts to the IFRS.
- C. Record the organisation's transactions in the books of prime entry.
- D. Inform the tax authorities of the organisation's revenues.
Answer: C
NEW QUESTION # 66
Which of the following best defines Business Process Re-engineering (BPR)?
- A. BPR is based on the idea that 80% of an outcome is dependant on only 20% of the inputs.
- B. The main aim of BPR is to save costs.
- C. BPR involves fundamental changes in the way the organisation operates.
- D. BPR is the continuous examination and improvement of processes.
Answer: C
NEW QUESTION # 67
DTR is a publishing company specialising in the production of technical journals and product specifications Because of the volumes of information required to run the business effectively, the finance function of the company is considering migrating to cloud based technologies.
Which of the following is most likely to be a benefit of such a move for the company?
- A. Periodic system updates
- B. Improved version control
- C. Access to stand alone systems
- D. Established work patterns
Answer: C
NEW QUESTION # 68
The growth and success of virtual teams have been a result of which THREE developments becoming available to organisations?
- A. Computer-aided design processes
- B. Electronic information sharing
- C. Efficient broadband connections
- D. Safe transfer of funds electronically
- E. Remote on-line meetings
- F. Accurate systems of inventory management
Answer: B,C,E
NEW QUESTION # 69
Clear career promotion and progression ladders are most obvious under which type of organisational structure?
- A. Horizontal
- B. Vertical
- C. Virtual
- D. Networked
Answer: B
NEW QUESTION # 70
XY Company is a manufacturing company making a variety of products for sale in different markets.
Which of the following is the most likely organisational structure that such a company will adopt?
- A. Entrepreneurial structure
- B. Divisional structure
- C. Matrix structure
- D. Functional structure
Answer: B
NEW QUESTION # 71
Simone is a management accountant at a jewellers called ShinyShiny. She is currently conducting operational reporting for them.
Which of the following will Simone not discover during her operational reporting?
Select ALL that apply.
- A. That ShinyShiny's processes need to be improved.
- B. That the level of sales in one shop are higher than another.
- C. That more men than women seem to be buying their products.
- D. That ShinyShiny isn't able to pay back its loans.
- E. That the gold bangles sell better than the silver bangles.
Answer: A,D
NEW QUESTION # 72
Appraisal systems involve the collection of feedback on an individual's performance from a range of sources. Which of the following sources apply to 180-degree appraisal?
Select THREE sources that apply.
- A. The individual's peers and the customers they deal with
- B. The individual and the customers he deals with
- C. The individual's supervisor and his peers
- D. The individual's supervisor and the customers the individual deals with
- E. The individual and his peers
- F. The individual's supervisor and the individual
Answer: C,E,F
NEW QUESTION # 73
Which of the following is NOT a feature of a knowledge management system specific to a particular organisation?
- A. The internet
- B. A local area network
- C. The intranet
- D. A wide area network
Answer: A
NEW QUESTION # 74
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