CIMA C5 mock test.docx

CIMA C5 mock test.docx

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CIMAC5mocktest

1ExeLtdwasundercontracttodelivergoodsbyroadtoLondonforWyeLtdfor£2,000.Afterpartofthejourneywascompleted,thedeliveryvehiclebrokedownandWyeLtdwasforcedtoarrangeforZedLtdtocompletethedelivery.

Iftherearenoprovisionsinthecontracttodealwiththissituation,whichofthefollowingiscorrect?

AExeLtdisentitledtopartofthedeliveryfee

BExeLtdisentitledtonothing

CExeLtdisentitledtoareasonablesumfortheworkdone

DExeLtdisentitledtothefull£2,000

2Whichthreeofthefollowingmustbeincludedonastatementofwrittenparticularsofemployment?

Namesofemployerandemployee

Dateonwhichemploymentbegan

Payrateandintervalsatwhichitispaid

Setholidaydatesinthefirstyearofemployment

Detailsofdisciplinarymethods

3Whichofthefollowingminorityrightsisnotcorrect?

ARighttoapplytothecourtinrespectofunfairlyprejudicialconduct

BRighttopetitiontheGovernmentforwindinguponthejustandequitableground

CRightof15%ofmembersofaclasstoapplytothecourtforcancellationofavariationoftheirrights

DRightof200+memberstoapplytotheGovernmenttoinvestigatethecompany'saffairs

4WhichofthefollowingarecorrectdifferencesbetweenShariaandCodifiedlawsystems?

（i）Sharialawtranscendsnationalboundaries

（ii）JudgesunderSharialawcannotcreatelaw

（iii）Codifiedlawiswrittenbyman

（iv）ThereisnocodificationoflawsunderSharialaw

A（i）,（ii）and（iii）only

B（i）and（iii）only

C（ii）,（iii）and（iv）only

DAlloftheabove

5Whichofthefollowingremediesisnotavailableforabreachofacontracttoprovidepersonalservices?

ADamages

BAdecreeofspecificperformance

CAninjunction

DAnactionfortheprice

6Whatiscorporategovernance?

AStockmarketregulationswhichgovernhowpubliccompaniesarerun

BEthicalguidelinesfordirectors

CThesystembywhichcompaniesaredirectedandcontrolled

DDirectors'legalobligations

7Whichofthefollowingisanexampleofhowcompanylawhasinfluencedacompany'scorporategovernance?

AApubliccompanythatsplitstheroleofchairmanandchiefexecutive

BApubliccompanythatsetsupanauditcommittee

CApubliccompanythatsetsdirectors'noticeperiodsatoneyearorless

DApubliccompanythathasanannualgeneralmeeting

8WhichthreeofthefollowingmayrequireParliamentaryinputtogiveeffecttothem?

Delegatedlegislation

Statute

EUregulations

EUdirectives

EUdecisions

9Inwhichofthefollowingisthereapresumptionthatlegalrelationsareintended?

AApromisebyafathertomakeagifttohisson

BAcommercialtransaction

CAdomesticarrangement

DAsocialarrangement

10Whichofthefollowingstatementsaboutissuingsharesisnotcorrect?

ADirectorsofprivatecompanieswithoneclassofsharehaveauthoritytoissuesharesunlessthisisrestrictedbythearticles

BOnlydirectorsofpubliccompaniesmustseekapprovalfromthemembersbeforeallottingshares

CAuthoritygiventodirectorstoallotsharesmuststatethemaximumnumberofsharesthatcanbeallotted

DIfauthorityisnotgrantedbythearticles,anordinaryresolutionisrequiredtogivedirectorsauthoritytoallotshares

11Whichofthefollowingdescribestheminimumrequirementformemberstorequisitionageneralmeetingofapubliccompany?

AMembersholdingnotlessthan5%ofthecompany'sissuedsharecapitalwhichcarriesvotingrights

BMembersholdingnotlessthan10%ofthecompany'sissuedsharecapitalwhichcarriesvotingrights

CMembersholdingnotlessthan20%ofthecompany'sissuedsharecapitalwhichcarriesvotingrights

DMembersholdingnotlessthan50%ofthecompany'sissuedsharecapitalwhichcarriesvotingrights

12WhichthreeofthefollowingstatementsdescribetheactivitiesregulatedbytheProfessionalOversightBoard?

Registrationofmembersofaccountancybodies

Trainingandeducationofmembersofaccountancybodies

Developmentofaccountingregulationsonbehalfofaccountancybodies

Applicationofaccountingregulationsbymembersofaccountancybodies

Conductanddisciplineofmembersofaccountancybodies

13ABCLtdhascontractedwithDEFLtd.IfABCLtdactsinbreachofawarranty,whichofthefollowingis/arecorrect?

（i）DEFLtdmayterminatethecontractandsuefordamages

（ii）DEFLtdmaysuefordamagesbutmaynotterminatethecontract

（iii）DEFLtdmayignorethebreachandcontinuewiththecontract

A（i）only

B（i）and（iii）only

C（ii）and（iii）only

DAlloftheabove

14WhichofthefollowingisnotaboardcommitteesuggestedbytheCombinedCode?

AAudit

BInvestment

CNomination

DRemuneration

15Whichofthefollowingstatementsiscorrect?

AAllEnglishcourtsmustapplyEuropeanLawevenifitcontradictsEnglishLaw.

BIfEuropeanandEnglishLawconflict,Englishcourtscannotapplyeitherlaw.

CAnEnglishcourtmustapplyEnglishLawunlessitobtainstheGovernment'spermissiontoapplyEuropeanLaw.

DAllEnglishcourtsareobligedtoapplyEnglishLawevenifitcontradictsEuropeanLaw.

16Whenobtainingprofessionaladvicetoresolveanethicalconflict,specialcaremustbetakentoavoidbreachingwhichfundamentalethicalprinciple?

AIntegrity

BObjectivity

CConfidentiality

DProfessionalbehaviour

17Themaximumtotalperiodofstatutorymaternityleavethatawomanmaybeentitledtois:

ASixweeks

BTwelveweeks

CTwenty-sixweeks

DFifty-twoweeks

18Whichthreeofthefollowingdescribehowanaccountantcandeveloptheirpersonalqualityofrespect?

Bydevelopingconstructiverelationshipswithothers

Byrecognisingtherightsofothers

Byavoidingdisagreementswithothers

Bynotchallengingtheviewsofthosemorequalifiedthanthem

Byarguingtheirownopinionbutacceptingtheviewsofothers

19Intheeventofanaccountant'sprofessionalethicsbeinginconflictwithacontractualobligation,whatcourseofactionshouldbetaken?

ATheaccountantshouldmeettheircontractualobligationattheexpenseoftheirprofessionalethics

BTheaccountantshouldfollowtheirprofessionalethicsattheexpenseoftheircontractualobligation

CTheaccountantshouldactinaccordancewiththeirpersonalethics

DTheaccountantshouldfollowanyadvicegiventothembytheiremployer

20Whichofthefollowingisanexampleofhowbusinessethicsmayinfluencecorporategovernance?

AWhenabusinesschoosesasupplieronthebasisofcost

BWhenabusinesschoosesasupplieronthebasisofproductquality

CWhenabusinesschoosesasupplieronthebasisofitsemployees'workingconditions

DWhenabusinesschoosesasupplieronthebasisofspeedofdelivery

21Whichofthefollowingwouldstronglyindicatethatapersonwasanemployee?

AHeuseshisowntools

BHeisdelegatedwork

CHerendersinvoicestothecompany

DHehasacontractwiththecompany

22Therepeatedpracticeofcertainprinciplescancreateanobligationtocontinuetodosointhefuture.Thisisasourceoflawunderwhichsystem?

ACommonlaw

BCodifiedsystems

CSharialaw

DInternationallaw

23Whichthreeofthefollowingstatementsconcerningcompanymeetingsarecorrect?

Membersholding10%ofthevotingrightsofaprivatecompanymayrequisitionameeting,thisis

reducedto5%ifthecompanyhasnotheldameetingfor12months

Membersholdingaminimumof95%ofthevotingrightsofaprivatecompanymustagreeifthe

noticeperiodforageneralmeetingistobewaived

Apollcanbedemandedbymembersorproxiesrepresentingatleast10%ofthevotingrights

Resultsofaquotedcompanypollmustbepublishedonitswebsite

Proxiesarenotincludedinthecalculationwhendecidingwhetherornotaquorumexists

Mockassessment1:

questions145

24Youareworkingasanassistantmanagementaccountantinalargemanufacturingcompanyandyourroleinvolvescostingnewproducts.Along-timesupplierhasinvitedyouandyourcolleaguesoutforlunch.

Doyouhaveanethicaldilemma?

ANodilemma

BYes,ariskofbreakingintegrity

CYes,ariskofbreakingobjectivity

DYes,ariskofbreakingconfidentiality

25Yourmanagerhaspassedyoutheirworkforyoutodouble-check.Youfindalargenumberoferrorsbutyourmanagerinsistsitisfineandtellsyoutosendittothefinancedirector.

Doyouhaveanethicaldilemma?

ANodilemma

BYes,ariskofbreakingobjectivity

CYes,ariskofbreakingintegrity

DYes,ariskofbreakingconfidentiality

26Whilstworkinginyourcompany'spayrolldepartment,anemployeehasaskedyoutoposttheirsalarydetailstoabuildingsocietyinsupporttheirmortgageapplication.Youhavebeengiventhenameandaddressofthepersondealingwiththeapplicationatthebuildingsocietyandtheapprovalfromthepayrollmanagertosendoutthedetails.

Doyouhaveanethicaldilemma?

ANodilemma

BYes,ariskofbreakingprofessionalcompetence

CYes,ariskofbreakingconfidentiality

DYes,ariskofbreakingobjectivity

27Acolleaguehasrecentlygainedpromotionandyouhavetakenovertheirworkonthereceivablesledger.Duringthehand-over,thecolleaguegivesyoualistofcustomersthathecalls'trouble-makers'.Hesays,'youwon'tgetonwiththem,theyareallrudeandneverpayontime'.

Doyouhaveanethicaldilemma?

ANodilemma

BYes,ariskofbreakingprofessionalbehaviour

CYes,ariskofbreakingconfidentiality

DYes,ariskofbreakingobjectivity

28OnaFridaynightoutintownyoumeetwithafriendwhoworksforacompanythatsuppliesmaterialstoyours.Yourfriend'semployerisfacingclosure,butearlierthatdayyoulearnedthatyourcompanyawardedthemanewcontractthatwillsaveit.Thesupplierw