CIMA P2 問題集

質問 1：
Product WB currently sells for $13 per unit. Annual demand at that price is 20,000 units. If the price increases to $15, the annual demand falls by 500 units.
What is the formula for the demand curve?
A. P = a -b(Q)
B. P = f(Q).
C. Q = a - bP
D. Qd = a - b(P
正解：D

質問 2：
The following data relate to an investment opportunity.
The percentage reduction in the annual revenue that could occur before the project is no longer financially viable is:

A. 15.9%
B. 56.0%
C. 28.6%
D. 212.3%
正解：A

質問 3：
The management of a leisure company, who are risk averse, have just approved an investment in a new amusement park. The country in which the amusement park will be located has a warm and mostly dry climate throughout the year.
A number of specific risks related to this investment have been identified as follows.
(1) Losses of very small amounts of revenue due to poor weather.
(2) A significant financial liability may arise due to the injury of a member of the public.
(3) Loss of several days of revenue due to rides being unavailable because of poor maintenance routines.
(4) Income fraud as a consequence of the high levels of cash handled by employees.
Using the TARA framework, which is the most appropriate way of managing each of these risks?
A. Reduce risk 1; transfer risk 2; avoid risk 3; accept risk 4
B. Transfer risk 1; accept risk 2; avoid risk 3; reduce risk 4
C. Accept risk 1; avoid risk 2; transfer risk 3; reduce risk 4
D. Accept risk 1; transfer risk 2; avoid risk 3; reduce risk 4
正解：D

質問 4：
An airline prides itself on using highly reliable aircraft that are maintained to the highest possible standard and that its flight crews are arguably the best in the industry. Despite that, the directors accept that there remains a slight possibility that there will be a fatal accident.
Which THREE of the following statements are correct?
A. Fatal air accidents can be justified on the basis that some risk is inevitable.
B. The airline's directors can justify their behavior on the basis that they insist on exceeding all relevant statutory and industry safety standards.
C. The airline appears to be behaving responsibly.
D. It is unlikely that any airline could totally eliminate all possibility of a fatal accident.
E. The airline should cease operations in order to eliminate the risk of a fatal accident.
正解：B,C,D

質問 5：
A learning curve applies to the manufacture of the first 256 units of a product.
During the manufacture of the first 255 units, the time taken to produce each successive unit is expected to:
A. Reduce at an increasing rate.
B. Reduce at a decreasing rate.
C. Reduce at a constant rate.
D. Reach the steady state.
正解：B

質問 6：
A very large organization is financed by both debt and equity. It evaluates all projects on the basis of their net present value (NPV) using an organization wide weighted average cost of capital as the discount rate.
For a small project, which TWO of the following would affect the project's cash flows AND the discount rate?
A. Taxation rates
B. The project's terminal value
C. Inflation rates
D. Changes in working capital
E. Depreciation rates
正解：A,C

質問 7：
The following data are available for a division for the latest period.

What is the division's residual income for the period?
A. 31.25%
B. 12.50%
C. $36,000
D. $3,000
正解：D

質問 8：
Which of the following statements about learning curves is correct?
A. The learning index for an 80% learning curve is calculated as log 2 divided by log 0.8.
B. A 90% learning curve indicates a faster rate of learning than an 80% learning curve.
C. The learning index will always have a positive value.
D. The learning index for an 80% learning curve is calculated as log 0.8 divided by log 2.
正解：D