Free CIMAPRO19-P01-1 Practice Test Questions and Answers (2026)

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Q: 1
The cost card for one unit of Product G is as follows: CIMA CIMAPRO19 P01 1 question The opening and closing inventories of Product G for month 5 are budgeted to be 10 units and 60 units respectively. Profit for month 5 using absorption costing is budgeted to be $15,000. What is the budgeted profit for month 5 using throughput costing?
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Q: 2
CIMA CIMAPRO19 P01 1 question Select the benefits to a company of using sensitivity analysis in investment appraisal. (Select all the true statements.)
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Q: 3
A budgetary control report for the latest period is shown below: CIMA CIMAPRO19 P01 1 question Which TWO of the following statements are correct?
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Q: 4
A manager has not yet used all oh his budget. He is worried that his budget maybe reduced next year if he is not seen to have needed all the funds. He decides to spend the remaining £1,580 on another team building exercise as well as a catered lunch for his department. This example falls under which behavioural aspect of budgetary control?
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Q: 5
XY can choose from four mutually exclusive projects. The projects will each last for one year and their net cash inflows will be determined by market conditions. The forecast net cash inflows for each of the possible outcomes are shown below. CIMA CIMAPRO19 P01 1 question If the company applies the maximin criterion the project chosen would be:
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Q: 6
Reported profits using activity-based costing (ABC) may be different from reported profits using marginal costing because ABC:
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Q: 7
TP makes wedding cakes that are sold to specialist retail outlets which decorate the cakes according to the customers’ specific requirements. The standard cost per unit of its most popular cake is as follows: CIMA CIMAPRO19 P01 1 question The general market prices at the time of purchase for Ingredient A and Ingredient B were $23 per kg and $20 per kg respectively. TP operates a JIT purchasing system for ingredients and a JIT production system; therefore, there was no inventory during the period. Discuss the usefulness of the planning and operational variances calculated for TP’s management. Select ALL the TRUE statements.
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Q: 8
Company LGF seeks to maximize profits and has a 'risk seeker' attitude when making decisions. The company has to choose between mutually exclusive projects. A range of possible profit outcomes has been estimated for each project along with their associated probabilities. Company LGF would choose the project with the:
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Q: 9
Which of the following explain why standard costing is less appropriate in the contemporary business environment? 1. In a continuous improvement environment standard costing can restrict the impetus to remain as cost competitive as rivals. 2. Fixed overhead variances are less relevant as fixed costs represent a decreasing proportion of total manufacturing cost. 3. In a just-in-time environment there are fewer costs to control.
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Q: 10
Explain why sensitivity analysis is useful when dealing with uncertainty in project appraisal. Select all the true statements.
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Q: 11
Which of the following statements about total quality management are incorrect? Select ALL that apply.
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Q: 12
200 units each of components F, G and H are required next period. All three components are made by skilled labour of which only 4,000 hours are available. An external supplier is able to supply any requirements of the components. No inventories are held. Data for the three components are as follows: CIMA CIMAPRO19 P01 1 question In order to minimise cost, how many units of component H should be purchased from the external supplier?
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Q: 13

The following details are available for a company's production overhead costs at different levels of activity: CIMA CIMAPRO19 P01 1 question The company uses the high-low method to calculate its budgeted production overhead costs. What is the budget for production overhead costs at an activity level of 8,500 units? Give your answer as a whole number.

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Q: 14

A company manufactures a single product. The following budgeted data applies to month 6: CIMA CIMAPRO19 P01 1 question What was the budgeted fixed production overhead for month 6? Give your answer to the nearest whole $ (in '000s).

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Q: 15

A company produces and sells two products, product A and product B. What are the total fixed costs when the weighted average contribution per unit is $5 and the breakeven points for product A and product B are 10,000 units and 5,000 units respectively? Give your answer as a whole number (in 000's).

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Q: 16

A company has identified the trend in its sales figures through the regression equation Y = 65.9 + 3.86X, where Y is the sales revenue in thousands of dollars and X is the month number. The average seasonal variation for October is 87% Calculate the forecast sales revenue for October of Year 6. Give your answer to the nearest $000.

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Q: 17

A manufacturing company is preparing the production budget for the forthcoming year. The following budgeted information has already been obtained: CIMA CIMAPRO19 P01 1 question How many units will need to be produced for the forthcoming year? Give your answer to the nearest whole number.

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Q: 18

A company is launching a new product with a selling price of $20. Demand and variable cost are both uncertain and possible demand levels and variable costs are given below: CIMA CIMAPRO19 P01 1 question Outcomes for demand and variable cost are independent. What is the expected contribution from the product? Give your answer as a whole number.

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Q: 19

A company is choosing between three projects, Project L, Project M and Project N using minimax regret. The outcome from each project is dependent on competitor reaction. If this is passive returns will be L $4,000, M $3,500 and N $5,200. If it is aggressive returns will be L $3,200, M $2,800 and N $2,950. Place the tokens into the table to show the maximum regret for each project and whether the project would be undertaken using minimax regret. CIMA CIMAPRO19 P01 1 question

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Q: 20

The inventory level of Product Y has reduced by 40 units over a single period. The cost card for Product Y is as follows: CIMA CIMAPRO19 P01 1 question The profit for Product Y using marginal costing is $26,000. If the company used absorption costing, what would the profit for Product Y be? Give your answer to the nearest whole $.

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