100% Free CIMA CIMAPRO19-P01-1-ENG Practice Test Questions and Answers 2026

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Total 261 Questions | Updated On: May 23, 2026

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Question 1

Information about a company's only two products is as follows:The revenue from the products must be in the constant mix of 2U:3V. Budgeted monthly sales revenue is $110,000.Fixed costs are $23,095 each month.To the nearest $10, what is the budgeted monthly margin of safety in terms of sales revenue?

A : $35,500

B : $74,500

C : $12,140

D : $38,940

Answer: A

Question 2

A company has budgeted to produce 5,000 units of Product B per month. The opening and closing inventories of Product B for next month are budgeted to be 400 units and 900 units respectively. The budgeted selling price and variable production costs per unit for Product B are as follows:Total budgeted fixed production overheads are $29,500 per month. The company absorbs fixed production overheads on the basis of the budgeted number of units produced. The budgeted profit for Product B for next month, using absorption costing, is $20,700.Prepare a marginal costing statement which shows the budgeted profit for Product B for next month.What was the difference between the profit calculation using marginal costing and the profit calculation using absorption costing?

A : $2870

B : $3010

C : $2950

D : $3610

E : $2750

Answer: C

Question 3

Two products being produced by a company require the same material which is limited to 2,600 kgs.What is the optimal production plan?

A : 500 units of S & 100 units of T

B : 50 units of S & 400 units of T

C : 400 units of S & 167 units of T

D : 500 units of S & 400 units of T

Answer: A

Question 4

Explain how probability analysis could be used to assess the risk of the evaluated projects.Select all the true statements.

A : The company can determine a range of possible outcomes for each of the cash flows in the project, for example, a high, low and medium estimate of each cash flow could be determined.

B : The net present value (NPV) of the project, if all high, low or medium estimates occurred, can be calculated along with the combined probabilities of their occurrence.

C : The probabilities can be combined to calculate the expected value of each cash flow element and of the project as a whole

D : The NPVs of a sample range of possible outcomes and the probability of each NPV can be calculated. If a small sample is taken the distribution of outcomes can be used to calculate the zero activities deviation of the NPVs and the probability of success of the projects.

Answer: A,B,C

Question 5

Which THREE of the following statements about different costing systems are correct?

A : Contribution per unit is the selling price per unit minus the variable costs per unit.

B : In a period during which finished goods inventory levels fall, profit using marginal costing will be higher than if absorption costing is used.

C : When valuing inventory using throughput costing, the direct labour cost is excluded.

D : Over-absorption of fixed production overhead is caused by actual sales exceeding budgeted sales.

E : Finished goods inventory will be assigned a higher value using throughput costing than absorption costing.

Answer: A,B,C

Page: 1 / 53

Total 261 Questions | Updated On: May 23, 2026

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