E1 Dumps Updated Jan 28, 2024 Practice Test and 335 unique questions
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CIMA E1 (Managing Finance in a Digital World) certification exam is designed to assess a candidate’s knowledge and understanding of the impact of digital technologies on the finance function within an organization. E1 exam is part of the CIMA Professional Qualification, which is globally recognized as one of the most prestigious qualifications for accounting and finance professionals.
CIMA E1 exam is a crucial step towards becoming a qualified management accountant. It provides candidates with the necessary skills and knowledge to operate in a digital business environment and helps them stand out in a competitive job market. Successful candidates can also progress to the next level of the CIMA qualification, which includes the E2 and E3 exams, and ultimately become a Chartered Global Management Accountant (CGMA).
NEW QUESTION # 82
Assessment centres can use a range of techniques to assess an applicant's competencies against pre-set criteria.
Which document would set out the competencies required for them to compare against?
- A. Appraisal documentation
- B. Job description
- C. Application forms
- D. Person Specification
Answer: C
NEW QUESTION # 83
Which of the following is the component of Hadoop which is responsible for breaking down a task into chunks of work and allocating them?
- A. BigQuery
- B. Data Manipulation Language
- C. MapReduce
- D. Distribute File System
Answer: D
NEW QUESTION # 84
Which of the following are benefits of appraisals? Select ALL that apply.
- A. The process is usually devoid of bias.
- B. Sets targets to help improve employee motivation.
- C. Bureaucracy is reduced.
- D. Allows manager/employee to exchange feedback.
- E. Rewards performance above and beyond the expected.
- F. Identifies where the employee needs improvement and how to go about it.
- G. Can reduce the chance of confrontation occurring.
- H. Ties in with career planning.
Answer: B,D,E,F,H
NEW QUESTION # 85
Place 'Management accountant' or 'Financial accounant' next to each of the following statements according to which applies.
Answer:
Explanation:
NEW QUESTION # 86
A new manufacturing firm has been growing very rapidly. Both its output and hired staff have increased dramatically, and it's looking like the business will have to physically expand sometime in the near future.
The company's managing director decides to outsource the payroll of the business to an external provider.
What are his likely reasons for making this decision?
- A. He is finding managing the payroll complicated and time consuming.
- B. There is more confidentiality when using external providers.
- C. Payroll requires an expertise on tax and legislation that he does not have in house.
- D. It will improve the accuracy in the payroll.
- E. It will allow him to focus on other priorities.
- F. He is finding it difficult to keep on top of all of the support activities he has to provide.
- G. Better management information will be supplied.
Answer: A,C,E,F
NEW QUESTION # 87
Which of the following best defines Business Process Re-engineering (BPR)?
- A. BPR is the continuous examination and improvement of processes.
- B. BPR is based on the idea that 80% of an outcome is dependant on only 20% of the inputs.
- C. BPR involves fundamental changes in the way the organisation operates.
- D. The main aim of BPR is to save costs.
Answer: C
NEW QUESTION # 88
Tom owns a guitar shop, called Jones's Guitars. In attempt to drum up business, he's decided to launch a guerilla marketing campaign.
Which of the following is the correct example of Tom using guerilla marketing?
- A. Launching a social media campaign called #GetDownTo]ones's
- B. Encouraging all his staff to try to build a rapport with the customers.
- C. Placing an empty guitar rack outside his shop with a sign saying, "Free air guitar - one per person. "
- D. Encouraging customers to try one of the store's brand new guitars.
- E. Spending a lot of money on decorating the shop and playing the most famous guitar- based songs.
Answer: C
NEW QUESTION # 89
Having the right assets and making the best use of them is crucial if an organisation is to achieve its strategies on a sustainable basis. Which of the following best describes the row of the finance function in relation to an organisation's assets?
- A. Ensuring that assets are used to their optimum capacity on an on-going basis.
- B. Collating and providing information to enable efficient asset management
- C. Setting asset lifetimes that are in keeping with shareholders' requirements.
- D. Deciding on which new machinery to buy for the production facility.
Answer: B
NEW QUESTION # 90
A facilities management company sells to local councils.
Which THREE of the following are appropriate methods of marketing?
- A. Technical seminars
- B. Social media
- C. Newspaper adverts
- D. Personal selling
- E. Exhibitions
- F. Celebrity endorsements
Answer: A,D,E
NEW QUESTION # 91
System changeover has four approaches, each of which vanes in terms of risk. cost and time.
Select the most suitable approach for when there is a need to minimise costs and time.
- A. Direct changeover
- B. Pilot operation
- C. Phased changeover
- D. Parallel running
Answer: A
NEW QUESTION # 92
Which of the following is the term used to describe the degree to which a task in an organisation is divided into a number of separate activities?
- A. Work specialisation
- B. Centralisation
- C. Span of control
- D. Formalisation
Answer: A
NEW QUESTION # 93
Which of the following do working capital reports include?
- A. Cash reports
- B. Cost of sales
- C. Budgets
- D. Performance reports
Answer: A
NEW QUESTION # 94
Which of the following are examples of a parallel changeover?
Select ALL that apply.
- A. A multi-storey hotel store that redecorates each level one-by-one, rather than all in one go.
- B. A car manufacturer that trials a new type of automation before replacing the old system with it.
- C. A call centre that moves into its new office overnight, so that it is fully operational the next day.
- D. A supermarket that updates all its checkouts while the store is closed.
- 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.
Answer: E,F
NEW QUESTION # 95
E's manager is concerned about bullying in the organisation and has asked E to report on the situation.
As a result, E has carried out the following work;
* Collected data of the numbers of complaints made
* Produced a bar chart based on incidences in different departments
* Interviewed a sample of employees
* Calculated the cost of employees being away from work sick due to bullying Which of the pieces of work that E has carried out is qualitative analysis?
- A. Collecting data of complaints
- B. Interviewing a sample of employees.
- C. Producing a bar chart of incidences.
- D. Calculating a financial cost
Answer: B
NEW QUESTION # 96
B is a small company that offers translation services into another language. There are very few employees and a network of translators is kept on a database Customers ask for work to be carried out through a website and B finds a suitable translator, taking a fee from the overall charge. The website is maintained by a third party What type of organisation is this?
- A. Modular
- B. Matrix
- C. Outsourced
- D. Virtual
Answer: C
NEW QUESTION # 97
HKD is an online marketing company Its finance function is currently preparing budgets for the coming period.
At which stage of value creation is HKD's finance function currently playing a key role?
- A. Dictates
- B. Shapes
- C. Narrates
- D. Enables
Answer: B
NEW QUESTION # 98
For a business to successfully use big data in its organisation, the development of a digital mindset needs to be in-line with which of the following?
- A. Data Manipulation
- B. Data Scientists
- C. Data Visualisation
- D. Data Strategy
Answer: D
NEW QUESTION # 99
XY Company manufactures in a highly competitive environment and achieves competitive advantage by regularly monitoring all the activities in its value chain. Which of the following would be affected by problems in the outbound logistics function?
- A. Storing raw material
- B. Increasing customer awareness
- C. Dealing with customer enquiries
- D. Distributing finished goods
Answer: D
NEW QUESTION # 100
XY Company is a manufacturing company making a variety of products for sale in different markets.
Which of the following is the most likely organisational structure that such a company will adopt?
- A. Divisional structure
- B. Functional structure
- C. Matrix structure
- D. Entrepreneurial structure
Answer: A
NEW QUESTION # 101
AAA Hotel provides accommodation near a major airport. When considering capacity management the hotel needs to clarify the component measurements identified below.
Match each of the three measurements below with the correct capacity element.
Answer:
Explanation:
NEW QUESTION # 102
Which of the following are advantages of outsourcing finance? Select ALL that apply.
- A. The external organisation/individual has an increased understanding of the outsourcing business.
- B. Allows the organisation's management to focus on its core operations and core issues.
- C. Level of independence is increased.
- D. Can help to keep costs down and improve quality.
- E. There is a known fee if agreed in advance.
- F. Increased control.
- G. Increased confidentiality.
- H. Internal expertise is improved.
Answer: B,D,E
NEW QUESTION # 103
An internal audit department is set up to help prevent fraud. Which of the following are possible implications if fraud is allowed to take place?
Select ALL that apply.
- A. Inadequate segregation of duties
- B. Theft of goods
- C. Loss of new investors
- D. Criminal charges
Answer: B,C,D
NEW QUESTION # 104
From the following, which best defines Business Process Re-engineering (BPR)?
- A. The main aim of BPR is to save costs
- B. BPR is the continuous examination and improvement of processes.
- C. BPR is based on the idea that 80% of an outcome is dependant on only 20% of the inputs.
- D. BPR involves fundamental changes in the way the organisation operates.
Answer: D
NEW QUESTION # 105
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