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CIMAPRA19-F02-1 Exam Questions & Answers

F2 Advanced Financial Reporting  •  CIMA

248 Questions Updated Sep 2026 99% Pass Rate
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Sample CIMAPRA19-F02-1 Questions

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Q1 MultipleChoice

Which THREE of the following statements are true in relation to financial assets designated as fair value through profit or loss under IAS 39 Financial Instruments: Recognition andMeasurement?

Correct Answer: A, B, E
Q2 MultipleChoice

FG has a weighted average cost of capital of 12% based on its existing:

* level of gearing of 30% (measured as debt/(debt + equity)); and

* business operations.

This would be used as an appropriatediscount factor to assess which of the following significant projects?

Correct Answer: D
Q3 MultipleChoice

Information from the financial statements of an entity for the year to 31 December 20X5:

The gearing ratio calculated as debt/equity and interest cover are:

Correct Answer: A
Q4 MultipleChoice

Which TWOof the following areTRUEin respect of preparing a consolidated statement of cash flows where there has been anacquisition of a subsidiary part way through the year?

Correct Answer: A, C
Q5 MultipleChoice

KL acquired 2 million $1 equity shares in MN on 18 July 20X0 for $1.65 a share and classified this investment as available for sale (AFS) in accordance with IAS 39 Financial instruments: Recognition andMeasurement.

KL paid a 0.5% transaction fee to its broker on this transaction. MN's shares were trading at $1.78 on 31 December 20X0.

Which of the following journals records the subsequent measurement of this investment at 31 December 20X0?

Correct Answer: A

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Frequently Asked Questions

The CIMAPRA19-F02-1 is CIMA's F2 Advanced Financial Reporting exam, which is part of the Professional qualification level. This exam is designed for finance professionals who want to demonstrate advanced knowledge of financial reporting standards, consolidation techniques, and complex accounting transactions.

The F2 Advanced Financial Reporting exam is 3 hours long and consists of multiple-choice and constructed response questions. Candidates need to achieve a score of 50% or higher to pass the exam.

The exam covers advanced financial reporting topics including IFRS standards, consolidated financial statements, foreign currency transactions, financial instruments, leases, and revenue recognition. It also includes analysis of complex accounting issues and professional judgment in financial reporting scenarios.

CIMA offers computer-based exams throughout the year at authorized testing centers, allowing candidates multiple opportunities to sit the F2 exam. The exact number of exam sittings depends on your local testing center's schedule and CIMA's assessment calendar.

Candidates must have passed the F1 Financial Reporting exam or its equivalent before attempting F2. Additionally, candidates should have a strong foundation in accounting principles and preferably some practical experience in financial reporting or accounting roles.
Exam Details
  • Exam CodeCIMAPRA19-F02-1
  • VendorCIMA
  • Total Questions248
  • LanguageEnglish
  • Last UpdatedSep 2, 2026
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