2015年USCPA考试真题演练：BEC

  W1: CFO proposed to increase money putting into Defined Benefit Pension Plan. You as a controller to discuss the issue regarding on Asset/Liability term match and economic impact on this proposal.
 

        W2: A new member just joined committee, ask you to explain 5 components of Internal Control in the COSO framework.
 

        W3: Company used short term debt bought a ferry long time ago. Now seeking to refinance by either convert to long term debt or convert to equity. Discuss the economic effect of this two measures.
 

        MC:
 
        1. What’s the FISCAL policy to reduce inflation-pull demand? 
        A: increasing government spending and reducing tax
 

        2. Given: dividend #, EPS#, Operating income #, market stock price $, Ask dividend yield? 
        A: dividend #/ market stock price$
 

        3. Given: different titles of ppl in the company, ask who is responsible for financial statement accuracy? 
        A: CFO/CEO
 

        4. Given: company has a system can check customer order and authorize process of shipment and can go back and trace order and inventory. Ask what this system is ? 
        A: I got stuck in these two options: real time inventory system and real time inventory audit
 

        5. Given: a company has 1mm unit of foreign currency and foreign country nominal interest rate #, inflation #, now this foreign wants to cut the inflation rate into half. Ask how much $ company can make under this real real interest rate after this policy implement? 
        A: Super easy but I just can’t get the right answer in the option, dunno why, stuck here for more than 5 MIN!
 

        6. Given: machine investment #, annual cost saving #, 5 years life of this machine, tax rate. Ask: after tax, NPV?           A: easy NPV calculation.
 

        7. Given: DM, DL , O/H , Ask: prime cost. 
        A: DM+DL
 

        8. Given: 3 probability corresponding with 3 expected sales amount. Tell you COGS is 80% of expected sales. Ask: calculate COGS. 
        A: easy expected return question with a twist.
 

        9. 3 Variance questions: material efficiency, price rate variance and material quantity variance. One step calculation, much easier than Becker, just need to remember the formula.
 

        10. Given: beta, mkt risk rate, cost of capital of this stock. Ask: risk free rate. 
        A: reverse the formula.
 

        11. Given: tell you company consider to buy parts outside instead of producing by itself. Give you price of outside purchase price, tell you even not produce, this amount $$ O/H will still occur and also information of DM, DL, O/H if produce itself. Ask: if purchase or self produce. 
        A: easy calculation.
 

        12. Given: sale #, operating cost #, asset turnover ratio#, Ask: average investment? 
        A: apply formula.
 

        13. Given: bunch of cost, Ask: what is not related to decision making: 
        A: sunk cost
 

        14. Technology questions, dun remember questions, answers chose are: xbl, Firewall.
 

        15. Ask following which one is correct to calculate payback period. 
        A: choose the right formula one
 

        16. Ask: which factors affect internal control ? 
        A: I dun remember the choices, got confused, remember chose something about people, dunno if its right. Also I got two other questions regarding COSO , never seen these questions in the becker.

 
        17. I got two questions regarding : General Accepted Privacy rules. I have no F** idea what the hell this is. Hope this gives your guys heads up here.
 

        18. Ask What’s business cycle in order: 
        A: easy
 

        19. Given: 4 sales amt corresponds to 4 fix O/H occurred amt. Ask: which one is most cost efficient. 
        A: use sales / fix O/H and choose the highest.
 

        20. Ask, not consider tax impact, which one is related to decision making. Give you net book value of old asset, purchase price of old asset, depreciation expenses and disposal price of old asset. 
        A: disposal price of old asset.
 

        21. Ask which control is to avoid unintended error ? give you : preventive, detective, corrective, inherent. 
        A: preventive , I guess?
 

        22. Tell you demand curve shifts to the right , market demand for the products increases. Ask what’s price and demand quantity ? 
        A: increase
 

        23. I got a long questions regarding using activity-based to apply O/H. just remember give you material move per line #, all the other actual occurred cost. Didn’t get the result right. Can reference to becker questions regarding O/H applied by using activity based.