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CIMA Managing Finance in a Digital World Sample Questions:

1. Which of the following are examples of a parallel changeover?
Select ALL that apply.

A) A supermarket that updates all its checkouts while the store is closed.
B) A car manufacturer that trials a new type of automation before replacing the old system with it.
C) A multi-storey hotel store that redecorates each level one-by-one, rather than all in one go.
D) A call centre that moves into its new office overnight, so that it is fully operational the next day.
E) A factory that wants to change from a manual to an automated system keeps on some of its manual labour employees whilst implementing the automated system.
F) A toy manufacturer that has new assembly line staff working at the same time as the old staff before they move on to other roles.

2. Which of the following is an example of a formal relationship in which two organisations legally contract to co-operate in defined ways to achieve specific commercial objectives?

A) Outsourcing
B) Strategic Alliance
C) Merger
D) Shared Service Centre

3. X Company has several distinctive corporate social responsibility stances including a concentration on the triple bottom line, being proactive, and treating stakeholders as partners. According to Johnson, Whittington and Schools' categorization which of the following stances would best fit X?

A) Forum for stakeholder interaction
B) Enlightened self-interest
C) Laissez-faire
D) Shaper of society

4. Which of the following is NOT one of the "three V's" of Big Data?

A) Volume
B) Variability
C) Variety
D) Velocity

5. Company S is a busy vehicle part manufacturer specialising in commercial vans and lorries. The company takes as many as nine deliveries of raw materials every day and these items are entered into the electronic inventory system upon arrival. When an item of inventory is taken from stores this is also updated electronically. Which inventory control system would be best utilised within Company S?

A) Periodic inventory system
B) ABC inventory system
C) First in, first out system
D) Continual inventory system

Solutions: