CMA Pre Exam Test PDF

Vinay Yerubandi (340763889022020@icsi.
edu)
Status : Pass
Assessment Date : 09-09-2020 18:24:21 (GMT+05:30)
Performance Level : Low
53.00 100.00 40.00

Your Total Assessment Cut-Off marks
Score Score (Pass Marks)
53.00 L
Your Performance
Percentage Category
This report helps you to achieve your targets

as per below stated objectives:
Improve your conceptual understanding
Address specific areas of improvement personalized
to you
/
Performance Categories
Based on the performance of the students, we have framed the following categories to place you in accordance with your performance
Performance Category Definitions
Excellent
Outstanding level of performance indicates that the candidate has done excellent work and mastered the concepts.
High
High level of performance indicates that the candidate has done above average work and mastered almost all the concepts.
Moderate
Acceptable level of performance indicates that the candidate has done average work and has mastered many of the concepts.
Low
Needs improvement in performance indicates that the candidate has done and mastered very few or none of the concepts.
Performance Criteria
PERFORMANCE CATEGORY RANGE
Excellent 91% to 100% of Max Marks
High 81% to 90% of Max Marks
Moderate 61% to 80% of Max Marks
Low Below 60% of Max Marks
Performance Category based on student marks
SECTION (GROUP) EXCELLENT HIGH MODERATE LOW
Section (Group) 91.00 and above 81.00 to 90.00 61.00 to 80.00 Below 60.00
/
SECTION (GROUP) EXCELLENT HIGH MODERATE LOW
Overall Score 91.00 and above 81.00 to 90.00 61.00 to 80.00 Below and equal to 60.00
Where do you stand?
SECTION (GROUP) SCORE PERFORMANCE CATEGORY
Section (Group) 53.00 / 100.00 L
Overall Score 53.00 / 100.00 L
Recommendations and Suggestions

1. Based on your overall scores:
Your overall score falls in the L category. Please attain more knowledge and practice more number of questions.
2. Based on your section-wise performance:
You seem to be inadequate in all sections. Please attain more knowledge and practice more number of questions.
3. Some general suggestions to optimize your score:
The best performers plan and allocate equal time to each section.
Overall Performance Analysis

The below table shows section-wise analysis of marks scored by you, time spent by you, your percentage, your accuracy and number of correct, incorrect,
unanswered and marked for review questions.
SECTION MARKS TIME SPENT YOUR SECTION YOUR TOTAL MAX NO OF QUESTIONS MARKED
(GROUP) SCORED BY YOU (IN PERCENTAGE SECTION QUESTIONS QUESTIONS - TO ATTEMPTED CORRECT INCORRECT UNANSWERED FOR
BY YOU MINS) ACCURACY ATTEMPT REVIEW
/
SECTION MARKS TIME SPENT YOUR SECTION YOUR TOTAL MAX NO OF QUESTIONS MARKED
(GROUP) SCORED BY YOU (IN PERCENTAGE SECTION QUESTIONS QUESTIONS - TO ATTEMPTED CORRECT INCORRECT UNANSWERED FOR
BY YOU MINS) ACCURACY ATTEMPT REVIEW
Section
53.00 26:17 53.00% 62.00% 50 50 50 31 18 0 1
(Group)
Total 53.00 26:17 53.00% 62.00% 50 50 50 31 18 0 1
Note:The percentage (%) and accuracy below the prescribed values (60 %) are shown in red color
Below pie-chart shows section-wise percentage of marks scored
Section-wise marks
Section, 53
Section
/
Impact of Incorrect Responses
Below table provides the marks lost due to incorrect responses.
SECTION(GROUP) NUMBER OF INCORRECT RESPONSES MARKS LOST DUE TO INCORRECT RESPONSES TOTAL SCORE IF INCORRECT RESPONSES WERE NOT MARKED
Section(grp1) 18 9 62
Overall 18 9 62.00
In order to attempt more accurately, consider the following suggestions while attempting the questions:
1. If you are not able to solve a question correctly or have doubts in your approach towards the solution, skip it for later.
2. Quickly revise the steps for avoiding calculation or casual mistakes.
3. Avoid guesswork.
Overall Preparedness Analysis

The below table represents the percentage of correct questions achieved at the analysis level.
Conceptual errors, for which you would require more reading and understanding of concepts.
Minor or careless mistakes, for which you would require a more composed and calm approach towards solving the question paper.
Time Management
Below table shows the time you spent in each section.
/
SECTION (GROUP) TIME SPENT BY YOU (IN MINS)
Section (Group) 26:17
Total time spent 26:17
Recommendations
1. It is essential for each aspirant to plan and schedule time for each section diligently. This is important to score well in each section and ultimately meet the cut-
off.
2. This will also help you in attempting all the questions in each section and hence not missing the opportunity to score more.
Response Change Pattern

Below table provides the number of times you have changed your responses while answering the test and also the nature of those response changes.
SECTION(GROUP) CORRECT TO INCORRECT INCORRECT TO CORRECT INCORRECT TO INCORRECT CORRECT TO UNANSWERED INCORRECT TO UNANSWERED
Section (Group) 0 0 0 0 0
Overall 0 0 0 0 0
It is suggested that guesswork should be avoided for any type of response changes. It has been observed that more often than not, guesswork leads to an incorrect
response thereby inviting negative marks which in turn has an adverse effect on the overall rank.
/
You must use your knowledge observation and elimination skills to arrive at the correct answer
You must use your knowledge, observation and elimination skills to arrive at the correct answer.
Interpretation and Suggestions

1. Incorrect to incorrect response change:
You may need to work more on the concept level, in order to gain confidence.
2. Incorrect to correct response change:
At the first glance you were not very sure about the solution.
You must spend at least 1 minute per question and if you are not able to reach to the solution, you must revisit the question to enhance your score.
Perform this response change only when you are confident or have spotted a mistake in the solution of your first response.
3. Correct to incorrect response change:
You are not sure of the solution and have either applied a wrong concept or made a calculation mistake.
You need to practice more questions on the same concept.
4. Correct to unanswered response change:
You are not sure of the solution
You need to practice more questions on the same concept.
Perform this response change only when you are not confident of your solution.
You must try to spend at least 1 min before leaving it unanswered.
5. Incorrect to unanswered response change:
Your judgment of avoiding negative marks is right.
You must try to spend at least 1 min before leaving it unanswered.
Overview: Section
The below table provides your marks in Section along with the average marks scored by the others (students who cleared this assessment) and the marks scored by
the topper.
MARKS SCORED BY YOU YOUR SECTION PERCENTAGE YOUR SECTION ACCURACY TIME SPENT BY YOU (IN MINS)
/
MARKS SCORED BY YOU YOUR SECTION PERCENTAGE YOUR SECTION ACCURACY TIME SPENT BY YOU (IN MINS)
53.00 / 100.00 53.00% 62.00% 26:17
Note:The percentage (%) and accuracy below the prescribed values (60%) are shown in red color
Question wise Analysis
Correct, 31
Marked for Review, 1

UnAnswered, 0
InCorrect, 18
Correct InCorrect UnAnswered Marked for Review
Performance Analysis: Section

1. The below table analyzes your performance at question level
2. It highlights conceptually strong and improvement areas within the section and areas that require reinforcement of concepts. /
3. The accuracy of the response to each question and time spent are correlated and interpreted in terms of expert advice on preparedness level.
Question wise details

Please click on question to view detailed analysis
= Not Evaluated = Evaluated = Correct = Incorrect = Not Attempted = Marked for Review
= Answered = Correct Option = Your Option
Question Details
Q1. The sub division of shares results in ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐.
Status : Answered
Options :
1. Increase in face value and decrease in number of shares

2. Increase in face value & increase in numbers of shares
3. Decrease in face value &increase in number of shares
4. Decrease in face value & decrease in number of shares
Timespent (in sec): 18 Correct to Incorrect: 0 Incorrect to Correct: 0 Incorrect to Incorrect: 0 Correct to unanswered: 0 Incorrect to unanswered: 0
/
Q2. An investor wants to invest in the equity shares of ABC Ltd. for one year. The company is expected to declare a dividend of Rs. 4
per share. Further a financial analyst has projected the yearend target price of this company’s share is Rs. 220. Assuming that the
required rate of return is 10%, calculate the fair price of the share.
Status : MarkedForReview
Options :
1. Rs. 204
2. None of the above
3. Rs 220
4. Rs. 224
Q3. Profit or Loss attributable to “Minority Interest” and to owners of the parent in the statement of Profit and Loss shall be presente
as ……………………for the period
Status : Answered
Options :

2. Appropriation
3. Not be shown
4. Allocation
/
Q4. In case of inter lending transaction between Holding & Subsidiary…………………………… will be eliminated.
Status : Answered
Options :
1. Only Interest amount

3. Only Loan Amount
4. Both of the above
Q5. B Ltd. issued 5,000, 6% Debentures of Rs.100 each at 5% discount repayable after 5 years at a premium of 5%. What will be the
total loss on debentures?
Status : Answered
Options :
1. 50000
2. 60000
3. 40000
4. 70000
Q6. Goodwill, preliminary expenses, etc. when written off against profits, need to be _________________in Cash flow Statement.
Status : Answered
Options :
1. Shown as extraordinary item
2. Added in Cash from financing activity
3. Added in Cash from operating activity
4. Subtracted in Cash from operating activity
/
Q7. What is/are the attachment in CRA-4?
Status : Answered
Options :
1. Details of observation of cost audit report
2. XBRL document in respect of the cost audit report and Company’s information
4. Details of cost auditor(s) appointment
Q8. Which section of the Companies Act, 2013 covers definition of Holding Company?
Status : Answered
Options :
1. Section 2 (48)
2. Section 2 (49)
3. Section 2 (47)
4. Section 2 (46)
Q9. How much should be maximum remuneration payable by a company to its managerial personnel where effective capital is Rs.5
crores & above but less than Rs.100 crores ?
Status : Answered
Options :
1. Rs. 42 lakh
2. Rs. 60 lakh
4. Rs. 30 lakh
/
Q10. F Ltd. purchased Machinery from G Company for a book value of Rs.4,00,000. The consideration was paid by issue of 10%
debentures of Rs.100 each at a discount of 20%. The debenture account was credited with…………
Status : Answered
Options :
1. Rs.3,20,000
2. Rs.4,80,000
3. Rs.4,00,000
4. Rs.5,00,000
Q11. For Cash Settled Awards, the basis of measurement for non-employee is :
Status : Answered
Options :
1. All of the above
2. Fair value of equity instruments awarded
3. Fair value of Liability
4. Fair value of goods or services received
Q12. In a Cash Flow Statement decrease in a current liability will result in:
Status : Answered
Options :

2. No effect on cash
3. Increase in cash
4. Decrease in cash
/
Q13. When debentures are issued as collateral security, interest is paid on:
Status : Answered
Options :
1. Discounted value of debentures

2. Nominal value of debentures
3. No interest is paid
4. Face value of debentures
Q14. On March 31, 2018 , the following balances were extracted 12% debentures Rs. 50,00,000 Debenture redemption fund Rs.
50,00,300 Debenture redemption fund Investment Rs. 42,00,000 On 1st April,2018, all the investments were sold for Rs. 41,16,000
and the debentures were redeemed at par. The company had sufficient bank balance. What will be the loss / profit on sale of
investment?
Status : Answered
Options :
1. 85,000 (profit)
2. 84,000 (profit)
3. 84,000 (loss)
4. 85,000 (loss)
/
Q15. The failure, if any, to complete the buy-back within the time is to be specified by board’s report. Is this a mandatory disclosure?
Status : Answered
Options :
2. Mandatorily
3. Statutorily
4. Voluntarily
Q16. Which of the following statement/s is/are true? (i) Under provision for taxation, liabilities on account of gratuities, arrears of
preference dividends, etc., are instances, of what may not appear in books.;(ii) If the company has equity shares of varying fully paid-
up values, the total value should not be allocated to the different paid-up value groups; (iii) Valuation of shares on net asset basis, also
called asset backing or intrinsic value or breakup value method.
Status : Answered
Options :
1. Both (ii) & (iii)
2. All of the above
3. Both (i) & (iii)
4. Both (i) & (ii)
/
Q17. Which is not an essential characteristic of a good report?
Status : Answered
Options :
1. Reader- orientation
2. Detailed
3. Precision
4. Relevancy
Q18. Principal books of accounting is known as ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
Status : Answered
Options :
1. Profit and loss
2. Balance sheet
3. Ledger
4. Journal
Q19. Assets which are held for a short period called ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ .
Status : Answered
Options :
1. Intangible assets
2. Contingent assets
3. Current assets
4. Tangible assets
/
Q20. Which of the following statement/s are correct to examine the Balance Sheet of the company?
Status : Answered
Options :
1. Assets = Liabilities + Shareholders’ Equity
4. Assets = Liabilities + Share Capital + Retained Earnings - Amount in Treasury Shares
Q21. What is the impact on fixed cost per unit with the increase in output?
Status : Answered
Options :
2. Decrease
3. Increase
4. Constant
Q22. Corporate dividend tax is calculated on ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐.
Status : Answered
Options :
2. Share capital
3. Dividend paid
4. Unclaimed dividend
/
Q23. As per Ind AS 113, the valuation techniques for fair value measurement are
Status : Answered
Options :
2. Market approach, cost approach, income approach
3. DCF, NAV, WACC
4. Income approach, earning approach, market approach
Q24. Margin of Safety =
Status : Answered
Options :

2. S.P × (Actual Sales – Break Even Sales)
3. S.P × (Actual Sales – Marginal Sales)
4. S.P × (Marginal Sales – Break Even Sales)
Q25. Ind AS 20 deals with:
Status : Answered
Options :
1. Government participation in the ownership of the entity

2. The special problems arising in accounting for government grants in financial statements reflecting the effects of changing prices or in
supplementary information of a similar nature
/
Q26. A co. has liquid ratio of 3:1. Its stock is Rs. 1,20,000 and current liabilities are Rs. 2,40,000. Calculate the current ratio.
Status : Answered
Options :
1. 3.5:1
2. 2.5:1
3. 1.5:1
4. 0.0840277777777778
Q27. The FRC is a company limited by :
Status : Answered
Options :
2. Capital
3. Shares
4. Guarantee
Q28. The Australian Accounting Standards Board comprises -----------members including the Chair:
Status : Answered
Options :
1. 14
2. 11
3. 15
4. 12
/
Q29. What is the full form of FCRN?
Status : Answered
Options :
2. Federally Company Registration Number
3. Foreign Company Registration Number
4. Fund Classification Reference Number
Q30. Which of the following is not the feature of intangible assets?
Status : Answered
Options :
1. I t is non-physical in nature.
2. It is identifiable as monetary asset
3. It gives the specific rights to the holders over several future years.
4. I t is possible for multiple uses at the same time.
Q31. Ind AS 2 provides that cost of inventory to be recognized as :
Status : Answered
Options :
1. Expense
2. Loss
3. Revenue
4. All of the above
/
Q32. The features of Corporate Financial Reporting are :- (i) Reliability ; (ii) Comparability ; (iii) Understandability
Status : Answered
Options :
1. Both (i) & (ii)
2. Both (i) & (iii)
3. All (i), (ii) & (iii)
4. Only (ii)
Q33. Which of the following statement is/are true?
Status : Answered
Options :
1. Flexible budgets are widely used in production and service department
2. A formula used in developing flexible budget is : Total Budgeted Cost = Fixed Cost + Total Variable Cost
3. Flexible budgets can be prepared for each of the types of budgets included in master budget
4. All of the above
Q34. If the nominal value of the debentures cancelled is more than the price paid for them, the same has to be treated as ………….
on cancellation.
Status : Answered
Options :
1. Loss
2. Premium
3. Profit
4. Discount
/
Q35. Which Accounting Standard deals with Contingencies and Events occurring after Balance Sheet date?
Status : Answered
Options :
1. Accounting Standard 04
Q36. Which of the following is not an example of Verbal presentation of the information?
Status : Answered
Options :
1. Written Report
2. Group Meeting
3. Interview
4. Conference
Q37. Shutdown costs includes:
Status : Answered
Options :
1. Cost of packaging
2. All of the above
3. Costs incurred in resuming operations
4. Cost of Advertisement
/
Q38. ……………… ratio measures the interest on long term debt servicing capacity of the firm.
Status : Answered
Options :
1. Debt Service ratio
2. Capital gearing ratio
3. Debt – equity ratio
4. Fixed asset ratio
Q39. Contingent Liabilities to be disclosed :
Status : Answered
Options :
1. Miscellaneous Expenditure
2. Current Liabilities & Provisions
3. Not shown
4. By way of foot note only
/
Q40. Bajaj Ltd. issued 25,000 equity shares of Rs.10 each payable as Rs.2 on application, Rs.3 on allotment, Rs.2 on first call & the
balance in the final call. Archit, who has 1,000 shares paid full value of shares with allotment money. The amount to be debited to
bank account at the time of receipt of first call money will be.
Status : Answered
Options :
1. Rs.48,000
2. Rs.47,000
3. Rs.50,000
4. Rs.49,000
Q41. Accounting Standard 3 deals with:
Status : Answered
Options :
1. Cash Flow statement
2. Property, Plant and Equipment
3. Disclosure of Policies
4. Valuation of inventories
/
Q42. Select the correct statement-
Status : Answered
Options :
1. To determine the required rate of return, beta of a firm’s share is required
2. In a well diversified portfolio, the variances of individual securities would be quite insignificant
3. Systematic risk can be diversified
4. The risk of a portfolio of securities is measured by covariance
Q43. What is the condition to Receive Share-Based when the entity receives the services that entitle the counterparty to the share-
based payment and condition on which the exercise price, vesting or exercisability of an equity instrument depends relate to the
market price of the entity’s equity instruments, either directly or indirectly exist?
Status : Answered
Options :
1. Performance vesting condition

2. Market vesting condition
3. Service vesting condition
4. Non-market vesting condition
/
Q44. . ………………. is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between
market participants at the measurement date.
Status : Answered
Options :
1. Original cost
2. Fair value
3. Market value
Q45. Premium on redemption is a ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ to the business.
Status : Answered
Options :
1. Capital loss
2. Revenue profit
3. Revenue loss
4. Capital profit
Q46. In how many hours the listed entity shall submit to the stock exchange on, the conclusion of its General Meeting, details
regarding the voting results in the format specified by the Board?
Status : Answered
Options :
1. 24 hours
2. 12 hours
3. 36 hours
4. 48 hours
/
Q47. Which is not to be disclosed in the Balance Sheet of a Company?
Status : Answered
Options :
1. Subscribed Capital
2. Reserve Capital
3. Issued Capital
4. Authorised Capital
Q48. Non-production overhead costs are not considered in stock valuation, because
Status : Answered
Options :
1. They are outside the control of production manager
2. They are incurred after stock has been brought to its present location and condition
3. They cannot be identified with individual product
4. They are fixed period costs
Q49. Contribution payable by the employer in a year is to be charged to :
Status : Answered
Options :
1. Profit & Loss Adjustment a/c
3. Profit & Loss Appropriation a/c
4. Profit & Loss a/c
/
Q50. ……………….. budget helps managers in choosing a level of operations for planning sales volume.
Status : Answered
Options :
1. Performance
2. Fixed
3. Master
4. Flexible
Your Response Change Pattern: Section

The below table provides the number of times you have changed your responses to the Section questions and also the nature of those response changes.
CORRECT TO INCORRECT INCORRECT TO CORRECT INCORRECT TO INCORRECT CORRECT TO UNANSWERED INCORRECT TO UNANSWERED
0 0 0 0 0
Error Identification and Rectification: Section

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Vinay Yerubandi (340763889022020@icsi.

53.00 100.00 40.00

This report helps you to achieve your targets

Performance Category Deﬁnitions

PERFORMANCE CATEGORY RANGE

Excellent 91% to 100% of Max Marks

High 81% to 90% of Max Marks

Moderate 61% to 80% of Max Marks

Low Below 60% of Max Marks

Performance Category based on student marks

SECTION (GROUP) EXCELLENT HIGH MODERATE LOW

Where do you stand?

SECTION (GROUP) SCORE PERFORMANCE CATEGORY

Section (Group) 53.00 / 100.00 L

Overall Score 53.00 / 100.00 L

Recommendations and Suggestions

Overall Performance Analysis

Total 53.00 26:17 53.00% 62.00% 50 50 50 31 18 0 1

Below pie-chart shows section-wise percentage of marks scored

Overall Preparedness Analysis

Section (Group) 26:17

Total time spent 26:17

Response Change Pattern

Interpretation and Suggestions

53.00 / 100.00 53.00% 62.00% 26:17

Question wise Analysis

Marked for Review, 1

Correct InCorrect UnAnswered Marked for Review

Performance Analysis: Section

Question wise details

Q1. The sub division of shares results in ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐.

1. Increase in face value and decrease in number of shares

1. None of the above

1. Only Interest amount

1. None of the above

1. Discounted value of debentures

Q18. Principal books of accounting is known as ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐

Q22. Corporate dividend tax is calculated on ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐.

Q24. Margin of Safety =

1. None of the above

Q25. Ind AS 20 deals with:

1. Government participation in the ownership of the entity

Q27. The FRC is a company limited by :

Q30. Which of the following is not the feature of intangible assets?

Q31. Ind AS 2 provides that cost of inventory to be recognized as :

Q33. Which of the following statement is/are true?

Q37. Shutdown costs includes:

Q39. Contingent Liabilities to be disclosed :

Q41. Accounting Standard 3 deals with:

1. Performance vesting condition

Q45. Premium on redemption is a ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ to the business.

Q49. Contribution payable by the employer in a year is to be charged to :

Your Response Change Pattern: Section

Error Identiﬁcation and Rectiﬁcation: Section

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