IMA CMA-Strategic-Financial-Management Exam : CMA Part 2: Strategic Financial Management Exam

IMA CMA-Strategic-Financial-Management exam
  • Exam Code: CMA-Strategic-Financial-Management
  • Exam Name: CMA Part 2: Strategic Financial Management Exam
  • Updated: Sep 18, 2026
  • Q & A: 125 Questions and Answers
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IMA CMA-Strategic-Financial-Management Exam Syllabus Topics:

SectionWeightObjectives
Financial Statement Analysis20%- Basic financial statement analysis
  • 1. GAAP vs IFRS differences
    • 2. Earnings quality and quality of financial reporting
      • 3. Common-size and common-base year statements
        • 4. Financial ratios: liquidity, leverage, activity, profitability
          Enterprise Risk Management10%- Risk identification and classification
          • 1. Risk assessment and mitigation strategies
            • 2. ERM framework and governance
              • 3. Types of business risk: financial, operational, legal, strategic
                Business Decision Analysis25%- Cost-volume-profit analysis
                • 1. Risk analysis and uncertainty
                  • 2. Marginal analysis and relevant costs
                    • 3. Pricing decisions: market-based and cost-based
                      • 4. Decision-making under risk
                        Corporate Finance20%- Risk and return
                        • 1. Types of risk and return measurement
                          • 2. Working capital management
                            • 3. Raising capital and dividend policy
                              • 4. Capital structure and optimal financing
                                • 5. Cost of capital: debt, equity, WACC
                                  Capital Investment Decisions10%- Capital budgeting process
                                  • 1. Project risk and sensitivity analysis
                                    • 2. Discounted cash flow techniques: NPV, IRR, payback
                                      • 3. Real options and valuation
                                        Professional Ethics15%- IMA Statement of Ethical Professional Practice
                                        • 1. Ethical principles and standards
                                          • 2. Resolution of ethical conflict
                                            • 3. Corporate responsibility and governance

                                              IMA CMA Part 2: Strategic Financial Management Sample Questions:

                                              Question #1

                                              Below is the income statement and balance sheet for a retail corporation.

                                              What is the corporation's return on equity in Year 2?

                                              • A. 23%
                                              • B. 48%
                                              • C. 26%
                                              • D. 39%
                                              Reveal Solution  Discussion  0

                                              Correct Answer: B  🗳️

                                              Question #2

                                              Given the financial information shown below, what amounts would be shown for sales revenue and for gross prom, respectively in a common size income statement?

                                              • A. 222% and 225$
                                              • B. 100% and 55%
                                              • C. 100% and 20%
                                              • D. 100% and 45%
                                              Reveal Solution  Discussion  0

                                              Correct Answer: D  🗳️

                                              Question #3

                                              Company Y records a receivable from a foreign customer in Company Y's functional currency. The receivable is due in 90 days and is to be paid in the customer s currency. This is an example of which type of risk exposure?

                                              • A. Foreign investment risk
                                              • B. Economic risk
                                              • C. Transaction risk
                                              • D. Translation risk
                                              Reveal Solution  Discussion  0

                                              Correct Answer: C  🗳️

                                              Question #4

                                              Plenary Inc specializes in overnight package delivery. Total packages delivered last year were 10 000.000. and this quantity is expected to remain unchanged in the coming year. Unit contribution margin is $4,50 and total fixed costs are S40.000,000. The firm's 300 delivery truck drivers are seeking a S10 000 raise in annual salary In addition to a current base salary of $45 000 per year, the drivers receive a commission of $0 50 per package delivered If the firm grants the $10,000 salary increase to each driver and seeks to maintain the same level of pre-tax operating profit what is the maximum amount of commission the firm can pay its drivers per package delivered?

                                              • A. $0.30
                                              • B. $0.35
                                              • C. $0.20
                                              • D. $0.0
                                              Reveal Solution  Discussion  0

                                              Correct Answer: C  🗳️

                                              Question #5

                                              A management accountant overheard the company's procurement manager discussing a kickback payment for one of the company s recent projects. The procurement manager promised to pay a share to the other person II the arrangement was kept confidential According to the IMA Statement of Ethical Professional Practice which one of the following is the most appropriate action for the management accountant to take?

                                              • A. Take no action since the incident is not related to the accounting department
                                              • B. Report the information directly to a nigh-level company executive since it is a serious matter
                                              • C. Call the company's ethics helpline and report the matter anonymously
                                              • D. Discuss the incident with his or her own attorney and consider disassociating from the company
                                              Reveal Solution  Discussion  0

                                              Correct Answer: B  🗳️

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