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CMA Foundation Mock Test
A timed 25-question mock for the Cost & Management Accountancy Foundation Examination covering accounting & finance, simple & compound interest, averages & statistics, economy & banking awareness. Answer, submit and review every question with its explanation; set negative marking to match your exam’s current scheme.
CMA Foundation mock test
25 questions · 1 mark each · the timer starts with your first answer and the test submits itself when time runs out.
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Q1.Accounting & FinanceA debit entry increases:
Answer: B — Assets and expenses
In double entry, debits increase assets and expenses; credits increase liabilities, equity and revenue.
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Q2.Simple & Compound InterestFind the simple interest on ₹48,000 at 4% per annum for 2 years.
Answer: B — ₹3,840
SI = P × R × T / 100 = 48,000 × 4 × 2 / 100 = ₹3,840.
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Q3.Averages & StatisticsFind the median of: 22, 6, 16, 35, 22, 26, 15
Answer: B — 22
Sorted: 6, 15, 16, 22, 22, 26, 35. The middle (4th) value is 22.
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Q4.Economy & Banking AwarenessThe ‘lender of last resort’ in an economy is usually the:
Answer: C — Central bank
Central banks provide emergency liquidity to banks.
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Q5.Accounting & FinanceFind the compound interest on ₹30,000 at 5% per annum for 3 years, compounded annually.
Answer: D — ₹4,728.75
A = P(1 + R/100)^T = 30,000 × 1.05^3 = 34,728.75; CI = A − P = ₹4,728.75.
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Q6.Simple & Compound InterestFind the compound interest on ₹33,000 at 5% per annum for 2 years, compounded annually.
Answer: A — ₹3,382.5
A = P(1 + R/100)^T = 33,000 × 1.05^2 = 36,382.5; CI = A − P = ₹3,382.5.
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Q7.Averages & StatisticsThe average of 12 numbers is 74. If 90 is added, what is the new average?
Answer: A — 75.23
Old total = 12 × 74 = 888. New total = 888 + 90 = 978; new average = 978/13 = 75.23.
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Q8.Economy & Banking AwarenessStagflation is a combination of:
Answer: A — Stagnant growth and high inflation
Stagflation = stagnant economic growth + high inflation + often high unemployment.
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Q9.Accounting & FinanceIf interest rates rise, the price of an existing fixed-rate bond generally:
Answer: B — Falls
Bond prices move inversely to market interest rates.
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Q10.Simple & Compound InterestFind the compound interest on ₹9,000 at 20% per annum for 3 years, compounded annually.
Answer: A — ₹6,552
A = P(1 + R/100)^T = 9,000 × 1.20^3 = 15,552; CI = A − P = ₹6,552.
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Q11.Averages & StatisticsThe average of 6 numbers is 41. If 50 is added, what is the new average?
Answer: A — 42.29
Old total = 6 × 41 = 246. New total = 246 + 50 = 296; new average = 296/7 = 42.29.
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Q12.Economy & Banking AwarenessThe repo rate is the rate at which:
Answer: C — The central bank lends to commercial banks
Repo is the rate at which the central bank lends short-term funds to banks against securities.
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Q13.Accounting & FinanceFind the compound interest on ₹33,000 at 20% per annum for 2 years, compounded annually.
Answer: C — ₹14,520
A = P(1 + R/100)^T = 33,000 × 1.20^2 = 47,520; CI = A − P = ₹14,520.
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Q14.Simple & Compound InterestFind the simple interest on ₹9,000 at 9% per annum for 4 years.
Answer: A — ₹3,240
SI = P × R × T / 100 = 9,000 × 9 × 4 / 100 = ₹3,240.
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Q15.Averages & StatisticsThe average of 8 numbers is 69. If 99 is added, what is the new average?
Answer: B — 72.33
Old total = 8 × 69 = 552. New total = 552 + 99 = 651; new average = 651/9 = 72.33.
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Q16.Economy & Banking AwarenessWhat does GDP stand for?
Answer: C — Gross Domestic Product
GDP measures the market value of final goods and services produced within a country.
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Q17.Accounting & FinanceA company’s net income divided by shareholders’ equity is:
Answer: B — ROE
Return on equity = net income ÷ shareholders’ equity.
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Q18.Simple & Compound InterestFind the compound interest on ₹39,000 at 10% per annum for 2 years, compounded annually.
Answer: C — ₹8,190
A = P(1 + R/100)^T = 39,000 × 1.10^2 = 47,190; CI = A − P = ₹8,190.
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Q19.Averages & StatisticsFind the median of: 39, 39, 37, 30, 34, 37, 30
Answer: D — 37
Sorted: 30, 30, 34, 37, 37, 39, 39. The middle (4th) value is 37.
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Q20.Economy & Banking AwarenessA Non-Performing Asset (NPA) in India is a loan overdue for more than:
Answer: C — 90 days
Under RBI norms a loan becomes an NPA when interest or principal is overdue for more than 90 days.
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Q21.Accounting & FinanceFind the present value of ₹1,300 received at the end of each year for 7 years at 10%.
Answer: C — ₹6,329
PV of an ordinary annuity = PMT × [1 − (1 + r)⁻ⁿ]/r = 1,300 × 4.8684 = ₹6,329.
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Q22.Simple & Compound InterestFind the compound interest on ₹10,000 at 10% per annum for 2 years, compounded annually.
Answer: C — ₹2,100
A = P(1 + R/100)^T = 10,000 × 1.10^2 = 12,100; CI = A − P = ₹2,100.
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Q23.Averages & StatisticsFind the median of: 9, 19, 31, 10, 26, 26, 17
Answer: B — 19
Sorted: 9, 10, 17, 19, 26, 26, 31. The middle (4th) value is 19.
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Q24.Economy & Banking AwarenessWhich instrument is used for transferring money electronically in real time for large values in India?
Answer: C — RTGS
RTGS settles individual large-value transactions in real time.
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Q25.Accounting & FinanceWhich statement shows a company’s cash inflows and outflows from operating, investing and financing activities?
Answer: D — Cash flow statement
The cash flow statement groups cash flows into three activities.
How the mock test works
- The timer starts with your first answer; the test submits itself when time runs out.
- Choose the negative marking that matches your exam (many Indian exams deduct ¼ or ⅓ of a mark — check the official notification).
- After submitting you get your score, accuracy, time taken and a topic-wise breakdown, then every explanation.
- “New mock test” builds another paper — calculation questions get new numbers.
About CMA Foundation
Cost & Management Accountancy Foundation Examination — conducted by Institute of Cost Accountants of India (ICMAI). The entry level of the CMA course, covering accounting, law, business mathematics and statistics.
Original practice questions written for this site in the style and difficulty of each exam’s syllabus. They are not past papers and the site is not affiliated with any exam body. Exam patterns, marking schemes and syllabi change — always check the latest official notification.
CMA Foundation practice topics
| Topic | Section | Question source |
|---|---|---|
| Accounting & Finance | Finance | Calculated + question bank |
| Simple & Compound Interest | Quantitative aptitude | Calculated (new numbers every set) |
| Averages & Statistics | Quantitative aptitude | Calculated (new numbers every set) |
| Economy & Banking Awareness | General awareness | Question bank |