2024 CPA Exam Corporate Strategy and Risk Management

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The real questions of the 2024 CPA examination "Corporate Strategy and Risk Management" over the years

Time: March 6, 2024 Source: internet

Today, Lekao.com has sorted out some exercise questions for your reference. You should practice more questions to gain experience and enhance your ability and speed. Come on!

1. The corporate culture of clubs, associations, professional groups and other organizations basically belongs to (). [Single choice question]

A. Capability oriented

B. People oriented

C. Role oriented

D. Expertise oriented

Correct answer: B

Answer analysis: personnel oriented culture, also known as altruistic oriented culture, attaches importance to personal culture, mainly focuses on personal work, emphasizes personal value and professionalism, and employees have low loyalty to the enterprise. Employees influence each other by demonstrating and helping others, rather than using formal authority. This culture is common in clubs, associations, professional groups and small consulting firms. Therefore, option B is correct.

2. The modern concept of corporate strategy emphasizes strategic (). [Multiple choice questions]

A. Global

B. Competitive

C. Risk

D. Strain change

Correct answer: B, C, D

Answer analysis: The traditional concept of strategy emphasizes the planning, overall and long-term nature of the company's strategy; The modern concept of strategy emphasizes the adaptability, competitiveness and risk of strategy.

3. Company A is a pharmaceutical company, which plans to increase the sales price of its drugs by 25%, so it was interviewed by the relevant department, which plans to punish it on the grounds of disorderly price increase. After the negotiation between Party A and the department, both parties finally reached an agreement to gradually adjust the sales price in the next three years, and the sales price will rise by 15% from the current price three years later. This behavior mode is( )。 [Single choice question]

A. Reconciliation

B. Collaboration

C. Compromise

D. Concession

Correct answer: C

Answer analysis: compromise is a combination of moderate firmness and moderate cooperative behavior. Through bargaining among all stakeholders, make concessions to each other and reach an agreement acceptable to both parties. In this question, Company A and relevant parts have made concessions, that is, Company A has changed from a one-step price increase of 25% to a gradual price increase within three years, which is 15% higher than the current price three years later. The relevant departments have also changed their punishment policy to accept a gradual price increase of a lower range, which is in line with the meaning of compromise.

4. According to the Application Guidelines for Enterprise Internal Control No. 6 - Fund Activities, the following main risks to be concerned are (). [Single choice question]

A. The inventory is overstocked, resulting in excessive use of working capital

B. Improper financing decisions lead to unreasonable capital structure

C. Inadequate renovation of fixed assets and depreciation of asset value

D. Intangible assets lack core technology and sustainable development capability

Correct answer: B

Answer analysis: The main risks that should be paid attention to in capital activities are: (1) improper financing decisions lead to unreasonable capital structure or invalid financing, which leads to high financing costs or debt crisis of enterprises; (2) Investment decision-making errors lead to blind expansion or loss of development opportunities, leading to capital chain fracture or low efficiency of capital use; (3) Unreasonable fund allocation and unsmooth operation may lead to financial difficulties or capital redundancy of the enterprise; (4) Lack of strict control over capital flow may lead to misappropriation, embezzlement, withdrawal or fraud of funds. Options A, C and D are the main risks to be concerned about in asset management.

5. For elevator manufacturing enterprises, the key success factors of their industry include (). [Multiple choice questions]

A. Have core competence

B. After sales service

C. Have the ability to do better than other competitors

D. Sales ability

Correct answer: B, D

Answer analysis: The key factors of success refer to the skills and assets that a company must possess to make a profit in a specific market. The key factors of success involve the things that every industry member must be good at, or the company must achieve competition and financial success Some factors that must be focused on. The key factor of success is the prerequisite for enterprises to achieve industrial success. Core competence is the ability of an enterprise to do better than its competitors in business activities with important competitive significance. The key factors of success should be regarded as the characteristics of the industry and market level, rather than specific to an individual company. Having the key factors of success is a necessary condition, not a sufficient condition, for gaining competitive advantage. Options B and D belong to the key success factors of the industry; Options A and C belong to the core competence factors for an enterprise to gain competitive advantage.

6. Enterprise A is a large textile enterprise whose main raw material is cotton. Enterprise A expects that cotton prices will continue to rise in the future. In order to reduce the risk of rising production costs of textile orders already undertaken, Enterprise A decided to hedge against the risk of cotton spot. Among the following options, those that do not meet the hedging characteristics are( )。 [Single choice question]

A. The purpose of enterprise A's cotton hedging is to make profits by reducing the risk of cotton price changes

B. The cotton futures contract held by enterprise A for hedging can be sold, closed or delivered at maturity before the maturity date

C. The price of enterprise A's cotton futures contract at the time of opening reflects the market participants' forward expected price of cotton

D. The "basis" corresponding to the cotton futures contract held by enterprise A reflects the price difference between cotton spot and cotton futures, which can be positive or negative before the expiration date of the futures contract

Correct answer: A

Answer analysis: The purpose of hedging is to reduce risks, while the purpose of speculation is to take additional risks to make profits. Therefore, option A is wrong; The price of the futures contract at the time of opening reflects the forward expected price of the subject matter of the market participants, so option C is correct; The "basis" corresponding to the futures contract refers to the difference between the spot price of the subject matter and the futures price of the contract used. The basis is zero on the expiration date of the futures contract, and can be positive or negative before that. Generally speaking, the closer to the maturity date, the smaller the basis. Therefore, option D is correct; Futures contracts held for hedging can be sold or delivered at maturity before the maturity date, but the vast majority of futures contracts will not use the subject matter for delivery at the maturity date and choose to close positions. Therefore, option B is correct.

7. The following statement about product life cycle is correct (). [Single choice question]

A. From the perspective of industrial environment and international production factor combination, the connotation of product life cycle is consistent

B. From the perspective of product R&D and production, the product life cycle can be divided into four stages: introduction, growth, maturity and decline

C. In the later period of recession, after most enterprises withdraw, product prices may rise

D. The product life cycle can be used to analyze the development law of all industries, but the duration of each stage varies with different industries

Correct answer: C

Answer analysis: The product life cycle theory proposed by Porter is based on the inflection point of the growth rate curve of industrial sales, and divides the product life cycle into four stages: introduction, growth, maturity and decline. In 1966, Professor Vernon of Harvard University put forward the product life cycle theory, which is different from Porter's product life cycle theory. Therefore, options A and D are wrong; In the recession, there is a serious overcapacity, and only enterprises with mass production and their own sales channels can be competitive. Some competitors withdraw from the market before their products. The price and gross profit of the products are very low. Only in the later stage, when most enterprises withdraw, the price is expected to rise. Therefore, option C is correct; Porter's product life cycle theory assumes that the growth and decline of industries are "S" shaped due to the innovation and promotion process of new products, but the growth of different industries is not always "S" shaped. Some industries skip the mature stage and go directly from growth to decline; Some industries rise again after a period of recession; Other industries seem to have completely skipped the slow initial stage of the introduction period. At the same time, the duration of each stage is very different with different industries. Therefore, option D is wrong.

8. After more than 10 years of comprehensive expansion, the performance of F Auto Group in M has declined due to market changes and the decline of its competitiveness. The Group has made a major strategic adjustment, that is, from strategic expansion to strategic contraction, focusing only on the North American market, focusing on its own core brands, in order to change the regional brand segmentation status of the Group. The Group has sold several European high-end brands one after another, and the strategic contraction type of F Auto Group belongs to( )。 [Single choice question]

A. Cost cutting

B. Abandon

C. Tightness and concentration

D. Steering

Correct answer: B

Answer analysis: Abandonment strategy refers to the transfer, sale or cessation of operation of one or several major departments of the enterprise. Therefore, option B is correct.

9. Company A is a large logistics and distribution enterprise in coastal areas, and its business volume ranks among the top three in the same industry in China. The company's business is clearly positioned to only do document and small business, and promises to deliver express mail within 24 hours in domestic first and second tier cities, and no more than 36 hours in other cities. To this end, the company has established 2 express distribution centers, more than 50 transit centers and more than 100 direct sales outlets nationwide. Company A uses the balanced scorecard to measure enterprise performance. From the perspective of customers, the content of the balanced scorecard of Company A can include( )。 [Multiple choice questions]

A. Processing time of single order

B. Service commitment

C. Establish service standards

D. Brand image construction

Correct answer: B, C, D

Answer analysis: Option A belongs to the content of internal process; Options B, C and D are all driving indicators related to customer satisfaction, that is, from the perspective of customers.

10. Company A has established audit The committee and audit committee are responsible for reviewing internal control, supervising the effective implementation of internal control and self-evaluation of internal control. Among the following options, those that meet the requirements of the Basic Standards for Enterprise Internal Control and the Supporting Guidelines for Enterprise Internal Control are( )。 [Multiple choice questions]

A. All members of the Audit Committee of Company A are non-executive directors

B. The function of the Audit Committee of Company A is to supervise, evaluate and review all departments and systems except the internal audit department

C. Major defects found in the internal control evaluation and the rectification plan for major defects shall be reported to the Board of Directors, but the general defects can be determined according to the situation

D. The responsibilities of the Audit Committee of Company A shall be determined by the Board of Directors, and the Audit Committee shall review its authority and effectiveness every year

Correct answer: A, C, D

Answer analysis: Generally speaking, the audit committee should be composed of independent and non-executive directors. Therefore, option A is correct; The function of the Audit Committee is to supervise, evaluate and review other departments and systems within the enterprise. Therefore, option B is wrong; Major defects and rectification plans for major defects shall be reported to the Board of Directors (Audit Committee), the Board of Supervisors or the management for approval. If there are circumstances that are not suitable for reporting to the management, such as internal control defects related to management fraud, the internal control evaluation team should report directly to the Board of Directors (Audit Committee) and the Board of Supervisors. Important defects do not affect the overall effectiveness of the enterprise's internal control, but should attract the attention of the board of directors and management. General defects can be reported to the management of the enterprise, and whether it is necessary to report to the Board of Directors (Audit Committee) and the Board of Supervisors as appropriate. Therefore, option C is correct; The Board of Directors shall determine the responsibilities assigned to the Audit Committee. The tasks of the Audit Committee will vary depending on the size, complexity and risk status of the enterprise. The Audit Committee shall review its authority and effectiveness every year and report to the Board of Directors on necessary personnel changes. Therefore, option D is correct

The above are some exercises compiled and sorted out by me. My friends should practice more and not take chances, nor put too much pressure on themselves. I believe that they will pass as long as they review earnestly. I wish you all success in passing the exam!

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