US CMA Exam Pattern - Question and Answer - Question Bank
This topic covers US CMA Exam question and answer pattern. But before we start the topic below is a brief summary about US CMA Exam:
US CMA Exam Overview
- Exams are in two parts.- Part 1 & Part 2
- Duration of each paper - 4 hrs
- Marks for each paper - 500
- Passing Marks for each paper - 360
- Exam months - Jan/Feb, May/June, Sep/Oct
- Computer-based exam in Prometric exam centres
Exam Structure for each paper is divided into two sections :
- Essay Question
Are you in a rush? Then skip straight to the desired section
IMA tests your conceptual understanding by MCQ type questions. Below are key things you need to know about the MCQ questions in your US CMA Exam.
- Time allotted three hours
- Number of questions 100 multiple choice questions
- Marks representing 75% of the exam score i.e. 375
- Time available per question is 108 secs or 1 min 48 secs ( 3 hrs x 60 mins x 60 sec ) / 100 questions
- Designed to test - Conceptual understanding
Topic US CMA Part1 Sec A .2 Revenue Recognition Measurement, Valuation, Disclosure
1.The matching concept matches which of the following?
- Asset with liabilities
- Capital with income
- Revenues with expenses
- Expenses with capital
2. Instalment sales for a period: $750,000
Cost of the above sales: $500,000
Cash received on the above sales: $150,000
What is the amount of the Deferred Gross Profit carried in the Balance Sheet?
- $ 250,000
- $ 50,000
- $ 200,000
- $ 600,000
Total time = 180 minutes
Time for each MCQ = 108 secs
Unproductive time = 8 secs ( Total 10 mins)
Productive time = 100 secs ( 1 min 40 secs) - available for each MCQ = 165 mins
|No||Question Description||Details||Min time (mins)||Max time (mins)|
|A||Easy Questions||30 MCQ requires 30 to 60 secs||15||30|
|B||Relatively Easy Question||30 MCQ requires 1.5 to 2 mins||45||60|
|C||Relatively Time Consuming Question||30 MCQ requires 2 to 3 mins||60||90|
|D||Time Consuming Question||10 MCQ requires 4 to 6 mins||40||60|
So you will take somewhere around 160 mins to 240 mins to solve all 100 MCQ. But you have only 165 mins to solve 100 questions. Hence you can do the following to save time:
- Study Requirement First. Start with the end of the question.
- Identify question -A Easy Questions, B Relatively Easy Question, C Relatively Time Consuming Question, D Time Consuming Question.
- If it's D ignore and move ahead, comeback later if you have time.
- The software interface provides an option to Mark the question. Revisit the marked question later on.
The second section is for one hour and has essay questions or case study questions representing 25% of the exam score.
- Time allotted one hour + Time saved from MCQ questions
- Number of questions 2
- Marks representing 25% of the exam score i.e. 125
- Time available per question is 30 mins ( 1 hrs x 60 mins x 60 sec ) / 2 questions
- Designed to test - Communication & problem solving
PingPong Ltd laptop contract manufacturing company based out of China began operation in Jan. Supplying to US & Europen market. The accounts team has collected the following data for the month of Jan.
Sales Price $ 200 per laptop
No of laptop produced 2000
No of laptop sold 1800
Direct materials cost $ 90 per laptop
Direct labour cost $ 15 per laptop
Variable Selling cost $ 10 per laptop
Variable overhead $ 5 per laptop
Fixed manufacturing overhead $ 300 per month
The team wants to understand how these numbers will impact their business
1. Explain absorption costing and variable costing.
2. Calculate the unit cost of goods sold and prepare the income statement for Jan using variable costing.
3. Calculate the unit cost of goods sold and prepare the income statement for Jan using absorption costing.
4. Identify and describe two advantages of using variable costing and two limitations of using absorption costing.
5. Explain why there is a difference in net income between variable costing and absorption costing. Show your calculations.
6. Define and explain throughput costing.
The below table summarizes the exam questions
|Question Type||Duration||Marks||No of Questions||Average time / Question|
|MCQ||3 hrs||375||100||1.8 mins|
|Essay||1 hrs||125||2||30 mins|
Note - Candidates must secure an aggregate of 50% in MCQ in order to move to essay questions.
US CMA Exam is held in Prometric centres available across your country. Following would be provided to you at the exam centre:
Hardware - Computer, Mouse, Keyboard, Rough papers for working
Software - Question Window, Few useful tables like - Time value table, NPV table, Annuity table
You need to carry your id proof & a non-scientific calculator
- We provide you following study materials - videos, workbook, planning sheet, question bank, study material
- Each topic in our video course starts with an Index i.e. What we will cover in that topic, followed by an explanation & then solving questions.
- While you are solving questions. Ensure that you don't fall into the trap of watching the video. Learning is not spectator sports. You need to solve the answer yourself. Compare your answer with the solution provided in the video course.
- In case you have a problem in understanding the questions or answer. You can raise the question in the WhatsApp support group.
- After you have completed the video course. Take the mock test to check your understanding. Ideally, you should score above 80%. Which gives you the confidence to move to the next topic.
If you have any questions related to US CMA or its eligibility, fill the form and we will help you with all the process.
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