Accounting exam prep

Certified Management Accountant Part 2 practice test

2026-2027 exam practice page

6 practice questions

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Certified Management Accountant Part 2

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Question 1 Financial ratios

Question 1: Financial ratios

A company has current assets of 600,000 dollars, inventory of 200,000 dollars, and current liabilities of 250,000 dollars. What is the quick ratio?

Question 2 Cost of capital

Question 2: Cost of capital

A firm is financed 40 percent by debt costing 6 percent after tax and 60 percent by equity costing 12 percent. What is the weighted average cost of capital?

Question 3 Capital budgeting

Question 3: Capital budgeting

Which capital budgeting method ignores the time value of money and measures only how long it takes to recover the initial investment?

Question 4 Net present value

Question 4: Net present value

A project requires 100,000 dollars now and returns 40,000 dollars per year for three years. At a 10 percent discount rate, the present value of the inflows is 99,474 dollars. What is the net present value?

Question 5 Risk and return

Question 5: Risk and return

In the capital asset pricing model, what does the beta coefficient measure?

Question 6 Working capital

Question 6: Working capital

A company wants to shorten its cash conversion cycle. Which action would accomplish this?

Question 7 Leverage

Question 7: Leverage

A firm with high fixed operating costs relative to variable costs is described as having high what?

Question 8 Bond valuation

Question 8: Bond valuation

If market interest rates rise after a fixed rate bond is issued, what happens to the bond's market price?

Question 9 Forecasting

Question 9: Forecasting

A financial analyst uses the percentage of sales method to forecast next year's accounts receivable. What is the key assumption of this method?

Question 10 Decision making

Question 10: Decision making

In a make or buy decision, which costs are relevant to the analysis?

Question 11 Dividend policy

Question 11: Dividend policy

A company follows a residual dividend policy. How is the dividend amount determined each year?

Question 12 Internal rate of return

Question 12: Internal rate of return

A project has an internal rate of return of 14 percent. The company's required rate of return is 10 percent. Based solely on this, should the project be accepted?

Question 13 Financial statement analysis

Question 13: Financial statement analysis

The DuPont analysis decomposes return on equity into which three components?

Question 14 Hedging and risk

Question 14: Hedging and risk

A U.S. company expects to receive euros in 90 days and wants to lock in the exchange rate. Which instrument achieves this?

Question 15 Cost of debt

Question 15: Cost of debt

A bond pays 8 percent interest and the company's tax rate is 25 percent. What is the after tax cost of this debt?

Question 16 Mergers and acquisitions

Question 16: Mergers and acquisitions

What is the term for the additional value expected when two companies combined are worth more than the sum of their separate values?

Question 17 Profitability index

Question 17: Profitability index

A project has a present value of future cash flows of 240,000 dollars and an initial investment of 200,000 dollars. What is the profitability index?

Question 18 Investment risk

Question 18: Investment risk

Which type of risk can be reduced or eliminated through portfolio diversification?

Question 19 Lease versus buy

Question 19: Lease versus buy

In a lease versus buy decision, which factor favors leasing rather than purchasing an asset?

Question 20 Earnings per share

Question 20: Earnings per share

A company reports net income of 500,000 dollars, paid 50,000 dollars in preferred dividends, and has 150,000 weighted average common shares outstanding. What is basic earnings per share?

Question 1 of 20

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About this practice test

What this 2026-2027 Certified Management Accountant Part 2 Practice Test covers

Purchase access to the current 6-question practice bank, with exam mode, study mode, answers and rationales. The free sample is separate. Purchase includes the current bank only.

Practice material can include variations on the same concept. It is not an official exam or a guarantee of a passing score. Confirm important facts against current authoritative sources.

Work through up to 50 IMA-style questions built around financial reporting, reconciliation, and the wording patterns students usually miss on the first read.
Use answer-by-answer rationales to learn why the correct option wins and why weaker distractors fail in Accounting exam situations.
Review 3 real-world analogies, topic article cards, and source checks after each question so internal control and audit evidence feel easier to recognize under pressure.
Build timing, confidence, and recall with scenario-based practice that feels closer to the real Certified Management Accountant Part 2 than a generic flashcard dump.

Prepare for the Certified Management Accountant Part 2 with realistic IMA practice questions, timed review, detailed rationales, and real-world analogies that make harder Accounting concepts easier to remember.

This practice test is designed for students and professionals preparing for Certified Management Accountant Part 2 who want stronger exam-day confidence, better explanation quality, and more useful answer review than a generic test bank.

Focus areas include financial reporting, reconciliation, internal control, audit evidence, along with scenario-based judgment, careful review of why distractors are less correct, and real-world analogies that help the key ideas stick.

What you will practice on this page

  • Work through up to 50 IMA-style questions built around financial reporting, reconciliation, and the wording patterns students usually miss on the first read.
  • Use answer-by-answer rationales to learn why the correct option wins and why weaker distractors fail in Accounting exam situations.
  • Review 3 real-world analogies, topic article cards, and source checks after each question so internal control and audit evidence feel easier to recognize under pressure.
  • Build timing, confidence, and recall with scenario-based practice that feels closer to the real Certified Management Accountant Part 2 than a generic flashcard quiz.

How to use this exam to study smarter

  1. Start with the 20-question free sample to spot whether financial reporting or reconciliation is slowing you down before you buy the full exam.
  2. After each block, review every rationale and the 3 real-world analogies, topic article cards, and source checks so the tested pattern behind internal control becomes easier to remember.
  3. Retake the full Certified Management Accountant Part 2 practice test in timed mode and focus on cleaner decision-making, not just memorizing the last answer.

Students often land on this page after searching for terms like Certified Management Accountant Part 2 practice test, Certified Management Accountant Part 2 practice questions, Certified Management Accountant Part 2 free practice test, Certified Management Accountant Part 2 study guide, IMA Certified Management Accountant Part 2 practice test, Certified Management Accountant Part 2 financial reporting questions. That is why the free sample gives you 10 questions first and the full version goes deeper into the tested patterns.

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Is this an official exam or a passing-score guarantee?

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