EMT Practice Test

1. Question Content...

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Question1: Which of the following is NOT a feature of a knowledge management system specific to a particular organisation?

Question2: DTR is a publishing company specialising in the production of technical journals and product specifications Because of the volumes of information required to run the business effectively, the finance function of the company is considering migrating to cloud based technologies.
Which of the following is most likely to be a benefit of such a move for the company?

Question3: Which of the following is an example of a formal relationship in which two organisations legally contract to co-operate in defined ways to achieve specific commercial objectives?

Question4: Which of the following functions is associated with the operating core of an organisation?

Question5: The following statements are from which section of the UK Combined Code?
1:The board should disclose a balanced and understandable assessment of the company's position and prospects in the financial reports.
2:The board should maintain an appropriate relationship with the company's external auditor.

Question6: Which TWO of the following are examples of a knowledge work system?

Question7: Kolb's learning cycle suggests that learning is a series of steps based on learning from experience.
Match the various stages of the cycle with the correct description.

Question8: The structure of an organisation is likely to change as the organisation develops and grows. Which type of structure is associated with an organisation which is in its early days?

Question9: RT Company produces sub components for the vehicle industry Worldwide changes in government regulation and social attitudes mean that there is an increasing pace of demand for hybrid and electric vehicles B is the long serving finance manager of RT Company. Using various data and information provided by the finance function staff, and experience built up over many years. B is considering how new challenges might be overcome and how opportunities might be maximised by the company In the context of the information to impact framework, which of the following best describes B's overall contribution to the anticipated changes'?

Question10: Which of the following would be a disadvantage of the use of 'big data'?

Question11: XY Company is a manufacturing company making a variety of products for sale in different markets. Which of the following is the most likely organisational structure that such a company will adopt?

Question12: H works in the finance function and has been asked by the Finance Manager to draft a report to be part of the annual update to go out to all the employees of the organisation H informs the Finance Manager the intention is to include a whole range of financial information including ratios and comparisons for the previous years in the report Which of the following qualities of good information should H be most concerned with when producing the report?

Question13: One of the roles of the finance function is to help deploy solutions. Which activity of the "information to impact" framework is this a part of?

Question14: The Finance function of XZY company, which is based in the UK. are planning how they can minimise the corporation tax costs Which of the following is correct?

Question15: A financial training company is reviewing its current HR policy in relation to the ongoing training required by all professionally qualified employees. Part of this process will also help to identify individuals suitable for promotion in the near future.
Which element of the HR cycle is described above?

Question16: Which of the following defines key performance indicators (KPls)?

Question17: Data science is increasingly important in the production of business focused data It consists mainly of experts with backgrounds in mathematics, programming and computer science Which of the following best describes the attributes of a data scientist?

Question18: Company V is, and has always been, very focused on the importance of stakeholders to the business.
As a well known and very popular private fee-paying school, Company V has to take on board advice, feedback, complaints and queries from a great many different stakeholders, all of which have to be prioritised according to their impact and power over the operations of the company.
Listed below are some of the stakeholders that Company V deal with on a daily basis. Categorise each of these stakeholders according to whether they are internal, connected or external stakeholders.

Question19: You work for a pharmaceutical company and during any one year cames out a range of different activities and projects. Which of the following sets of activities can be said to be connecting influence to impact?

Question20: XY Company manufactures in a highly competitive environment and achieves competitive advantage by regularly monitoring all the activities in its value chain. Which of the following would be affected by problems in the outbound logistics function?

Question21: Which of the following is a potential advantage of outsourcing?

Question22: N works in the Finance Department of a frozen food distribution company. His role includes analysing how long it takes for customers to settle their accounts and, in turn, when the company's payables are cleared.
Which of the following is described above?

Question23: M works in the finance function of S Company, a logistics and distnbution organisation M has been asked to assist in narrating how the company has performed by collating the regular six monthly review for distribution to shareholders Which of the following finance function activities best describes the activities M is likely be involved in?

Question24: Workforce flexibility takes a number of different forms. Which of the following achieves flexibility where employees have the ability to move between tasks as and when required by the organisation?

Question25: Human Resource Management (HRM) and Personnel are different.
Which of the following is NOT a characteristic of Human Resource Management (HRM)?

Question26: An organisation has grown in size over the last 6 months and it wishes to improve communication with its employees. Examples of information to share include company policies, human resource information and notices to employees.
Which type of system should the company adopt?

Question27: Stephanie has just secured a job as a management accountant for a well-known banking firm. She needs to understand the organisation's financial position.
What should she do first in order to gain this understanding?

Question28: There are various roles within the finance and accounting function. A trainee accountant first joining the profession can take some time learning the different aspects of each before making a decision on specialising in any particular direction.
Below are different components of the finance function. Match these with the examples of responsibilities listed.

Question29: Which of the following is a reason why businesses need to prepare statutory reports?

Question30: An entity has several subsidiaries including F, which has an urgent staffing issue. The Financial Controller of F is due to start her maternity leave in 3 weeks time and there is currently a recruitment freeze in place to curtail employment costs. Human Resources needs to resolve the issue of covering the Financial Controller's position on a temporary basis. Which TWO of the options below will be suitable in these circumstances?

Question31: A company offers life coaching and self-improvement training. As part of its promotion strategy, the company sends out free, heavily branded, daily motivational emails to all of its subscribers. It actively encourages its subscribers to forward its emails on to other contacts, provided the emails are not changed in any way. Which of the following marketing strategies is described above?

Question32: Which of the following would be within the role of an operational line manager?
Select ALL that apply.

Question33: Velocity is one of the defining characteristics of Big Data. Which of the following most accurately defines what this means?

Question34: The finance function of Company E are considering using blockchain technology for its ledger systems Which of the following will be an advantage of introducing this technology?

Question35: Which of the following is NOT one of the "three V's" of Big Data?

Question36: Cardboard box manufacturer Smurfat are giving their new employees an induction into the company's strategy.
They see this as a crucial stage of the induction process and have asked Terrance, the communications director, to take new employees through the strategy.
Which of the following should Terrance communicate to his new employees during their induction?
Select ALL that apply.

Question37: Which of the following is an example of sustainability impacting operations management?

Question38: When implementing a new IT system and according to the theory of Kotter, Schlesinger and Sache, which of the following is a benefit of using participation as a way of overcoming resistance to change?

Question39: Which of the following is NOT a feature of a strategic level information system?

Question40: One of the finance function's main stakeholders provides feedback on customer responses and reviews about the organisation's products and services. Which of the following will provide this feedback?

Question41: A cut-flower production business has peaks of demand around special days in the year that celebrate religious festivals. Which of the Four Vs of operations is being described in the above scenario?

Question42: Vladimir is the managing director of a IT repair business called Screenhax. The company has been operating for 10 years and has around 60 members of staff.
Donald, one of Vladimir employees, committed the act of 'skimming".
What did Donald do?

Question43: Which of the following is a benefit to the employer of remote working?

Question44: Which of the following is a feature of an organisation that has adopted a sales orientation?

Question45: X Company has several distinctive corporate social responsibility stances including a concentration on the triple bottom line, being proactive, and treating stakeholders as partners. According to Johnson, Whittington and Schools' categorization which of the following stances would best fit X?

Question46: C's company wants to increase socially responsible cost effective practices across it's supply chain C who is a member of the finance function has been asked to see how this can be achieved and is going to use the 'information to impact framework* to do this.
Which of the following is the correct order in which the required activities will need to be earned out?

Question47: S is employed within the accounting function of a small company. Due to the size of the company, there are not enough resources for separate accounting functions so S is responsible for both management and financial accounting tasks. As the company is so small there is no requirement for audit. However it does make use of the services of an external certified accountant for statutory accounting and taxation services.
According to Mintzberg, in which part of the organisation does the external accountant belong?

Question48: The Statement of Financial Position is NOT normally used to make decisions concerning which of the following?

Question49: Company T operates a highly automated manufacturing system. It is computer controlled to promote efficiency and effectiveness and is capable of producing a large number of parts in a flexible manner.
The main advantage this brings to Company T is that dedicated output can be produced quickly in response to customer orders so that the organisation can give very high levels of customer service.
Which system of operational capacity is Company T using?

Question50: Which of the following best outlines the shift to higher level' skills anticipated to be fundamental to future accountants'?

Question51: Which of the following technologies is described as a decentralised, distributed and public digital ledger that is used to record transactions across many computers?

Question52: There are four types of quality cost - prevention, appraisal, internal and external failure. Which of the following provides the best description for an external failure cost?

Question53: Which of the following organisations would best describe a 'professional bureaucracy'?

Question54: Which of the following is a disadvantage of outsourcing?

Question55: AB Company operates a capital intensive production process and cannot quickly add capacity. Which of the following best describes this production strategy?

Question56: Which of the following is NOT an element of the system development life cycle?

Question57: Organisation Z distributes beauty products to retailers and salons. As part of the operations management function, demand is forecasted from historical sales records. The marketing department, on the other hand, has predicted temporary higher levels of demand due to a recent popular advertising campaign.
Which capacity planning technique is appropriate?

Question58: A company sells double glazed windows. It has traditionally adopted a sales orientation and used aggressive direct selling techniques. As part of a new initiative, it is exploring its options to update its business philosophy.
Which of the following would be the most effective orientation for this business?

Question59: Corporate governance in the UK, that provides guidance regarding areas such as directors, internal controls and remuneration, is largely defined by which of the following?

Question60: Simone is a management accountant at a jewellers called ShinyShiny. She is currently conducting operational reporting for them.
Which of the following will Simone not discover during her operational reporting?
Select ALL that apply.

Question61: A company is expanding its baby clothing product range to include all items for infants, for example feeding and bathing equipment. As this is a new venture for the company, the Board of Directors has agreed that market research is a necessary exercise, but it is undecided as to which is the most efficient and effective method. Which of the following methods of research would be most appropriate?

Question62: There are four stages of development of supply chain management, according to Reck and Long's strategic positioning tool. Which stage of this model does the following description identify?
Emphasis is on better co-ordination between departments and suppliers involving timely communication about changes in price and availability of materials.

Question63: K manages the finance function of a cable manufacturing business In order to cope with an increasingly diverse workload K needs human resources to recruit someone with a digital mindset Which THREE of the following individual charactenstics should K emphasise to human resources as important in finding the right candidate?

Question64: Karl runs a factory. He wants his employs to feel that their role in the company has meaning.
Which of the following would help to make his employees feel this way?

Question65: 'A mam stakeholder of the finance function typically enquires about the prospects of the business, alongside overall performance and feedback on the leadership team' Which of the following stakeholders is being discussed?'

Question66: There are many stakeholders who have an interest in an organisation.
Which TWO of the following are connected stakeholders?

Question67: The psychological contract is by nature:

Question68: Material requirements planning (MRP I) and manufacturing resource planning (MRP II) are computerised systems used for planning the requirements for raw materials, work-in-progress and finished items and integrating with other production processes. These systems enable strong relationships to be forged with suppliers as orders can be placed with suppliers in good time to fulfill customer requirements and expectations, as well as other processes related to materials planning. Which of the following specifically can MRP I and MRP II NOT assist with?

Question69: Which of the following best describes a digital mindset?

Question70: Which of the following is an advantage of a functional organisational structure?

Question71: An internal audit department is set up to help prevent fraud. Which of the following are possible implications if fraud is allowed to take place?
Select ALL that apply.

Question72: Place 'Management accountant' or 'Financial accounant' next to each of the following statements according to which applies.

Question73: Cyber and physical systems becoming increasingly autonomous is part of which characteristic of the 4th industrial revolution?

Question74: Which TWO of the following are important aspects of the product in the marketing mix?

Question75: The development of a Corporate Digital Responsibility (CDR) strategy is increasingly common in modern business and will include 5 key areas including customer expectation Which of the following best describes customer expectation in this context?

Question76: Company P has revised its corporate and marketing objectives following a recent expansion in the primary market within which it operates. The next step is to devise an appropriate marketing strategy. Company P has conducted primary and secondary market research and this information is in the process of being analysed to establish the needs of the subjects. At which stage of the marketing strategy process is Company P?

Question77: Unclear cost and profit responsibilities can be a feature of which type of organisational structure?

Question78: Which of the following can facilitate innovation within an organisation?
Select ALL that apply.

Question79: Which TWO of the following are the responsibility of the Chief Financial Officer (CFO) in achieving the desired organisational impact?

Question80: Company E is renewing the IS within the organisation. This new system will enable all employees to access customer information, orders and credit control status to overcome the lack of integration between departments suffered with the previous system. Managers envisage some resistance to the change and want to try to make the transition as smooth as possible. To achieve this, all employees have been invited to share their ideas of what features the new system should include and how they would like the final interface to work. Which of Kotter, Schlesinger and Sache's methods of dealing with resistance is described above?

Question81: Arrange the stages of the product life-cycle in the correct order.

Question82: System changeover has four approaches, each of which vanes in terms of risk. cost and time.
Select the most suitable approach for when there is a need to minimise costs and time.

Question83: Which one of the following is NOT part of the role of Human Resource Management?

Question84: Which TWO of the following key business areas can a standard cost record assist with?

Question85: In a manufacturing company, it is important to maintain the correct levels of inventory, with particular attention to holding and ordering costs. For each of the types of costs listed below, identify whether these are holding costs or ordering costs:

Question86: Assessment centres can use a range of techniques to assess an applicant's competencies against pre-set criteria.
Which document would set out the competencies required for them to compare against?