Free IMANET CMA Exam Questions

Become IMANET Certified with updated CMA exam questions and correct answers

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Total 1336 Questions | Updated On: Jan 28, 2026

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Question 1

An interest swap covers a 3-year period with annual payments on a $1 million notional principal

amount. Party X agrees to pay a fixed rate of 8.5% to Party Z, who will in return pay to X a floating

rate equal to the London Interbank Offered Rate (LIBOR) in effect. LIBOR is the rate offered by major

London banks on large dollar deposites. The contract is initiated on January 1, Year 1. The first

payment is due on December 21, Year 1. The following are the floating rates on LIBOR over the 3-

year period:

Time LIBOR

1/1/Year 1 8.00%

1/1/Year 2 9.00%

1/1/Year 3 9.50%

1/1/Year 4 8.50%

What is the net payment made to the party that recognized a net gain on the contract?

A : $0

B : $10,000 to X

C : $ 15,000 to X

D : $15, 000 to Z

Answer: B

Question 2

Which relationship marketing level is appropriate for a low unit profit margin and many customers?

A : active marketing.

B : ic marketing.

C : rtnership marketing.

D : oactive marketing.

Answer: B

Question 3

The retail petroleum industry consists of a few large firms that sell a standardized product. Which of the following best describes this industry?

A : nopoly

B : igopoly

C : nopolistic competition

D : re competition

Answer: B

Question 4

If inventories are expected to change, the type of costing that provides the best information for breakeven analysis is

A : order costing.

B : riable (direct) costing.

C : int costing.

D : orption (full) costing.

Answer: B

Question 5

A depreciation tax shield is

A : after-tax cash outflow.

B : reduction in income taxes.

C : cash provided by recording depreciation.

D : expense caused by depreciation.

Answer: B

Page: 1 / 268

Total 1336 Questions | Updated On: Jan 28, 2026

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