Try and practice the latest CIMA : F1 real questions & answers

Last Updated: Sep 09, 2026

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CIMA F1 Exam Overview:

Certification Vendor:CIMA (Chartered Institute of Management Accountants)
Exam Name:Financial Reporting
Exam Number:F1
Real Exam Qty:60
Exam Price:£110 / $135–$150 USD (varies by region)
Certificate Validity Period:No expiry (module credit valid while qualification active)
Available Languages:English
Passing Score:100 out of 150 scaled score (~67%)
Related Certifications:CGMA (Chartered Global Management Accountant)
CIMA Professional Qualification
Exam Duration:90 minutes
Exam Format:Drag and Drop, Multiple Response, Objective Test, Multiple Choice, Number Entry
Recommended Training:Official CIMA Study Materials
CIMA Approved Learning Partners
Exam Registration:Official CIMA Registration & Booking
Pearson VUE Exam Scheduling
Sample Questions: DOWNLOAD DEMO
Exam Way:Computer-based, on-demand at Pearson VUE test centers or online proctored
Pre Condition:CIMA Certificate in Business Accounting (Cert BA) or relevant degree / professional qualification for exemption; basic English and mathematics proficiency
Official Syllabus URL:https://www.cimaqualification.com/operational-level/f1-financial-reporting

CIMA F1 Exam Syllabus Topics:

SectionWeightObjectives
Financial Statements45%- Preparation of single entity financial statements
  • 1. Statement of financial position
    • 2. Statement of profit or loss
      • 3. Statement of cash flows
        • 4. Statement of changes in equity
          - Interpretation and analysis of financial statements
          - Application of IFRS standards
          • 1. IAS 2 Inventories
            • 2. IAS 16 Property, Plant and Equipment
              • 3. IFRS 16 Leases
                • 4. IAS 36 Impairment of Assets
                  - Basic consolidated financial statements
                  The Regulatory Environment of Financial Reporting10%- IFRS Foundation and IASB structure
                  - Ethics in financial reporting
                  - Conceptual framework and regulatory bodies
                  - Principles vs rules-based regulation
                  Managing Cash and Working Capital25%- Working capital cycle and objectives
                  - Cash management and forecasting
                  - Management of receivables, inventory and payables
                  - Short-term financing options
                  Principles of Taxation20%- Current tax calculation
                  - Indirect taxes overview
                  - Deferred tax concepts
                  - Tax system and types of taxes

                  CIMA F1 Exam FAQs

                  The CIMA Financial Reporting exam (exam code F1) is the official CIMA exam that leads to the CIMA Diploma in Management Accounting (CIMA Dip MA), CIMA Operational Level certification, sitting at the Operational level of the CIMA certification track. It is also connected with CIMA Professional Qualification, CGMA (Chartered Global Management Accountant). If this is the credential you are working toward, the 247 practice questions at Actual4Cert map directly to its objectives.

                  The CIMA Financial Reporting exam includes 60 questions, and you have 90 minutes to complete them. Divide the time limit by the question count and you get a tight average pace per item, so train yourself to flag time-consuming questions and return to them later instead of getting stuck. Before test day, run at least one full timed session in the Actual4Cert test engine under the same limits — the clock should never surprise you.

                  The passing score for CIMA Financial Reporting is 100 out of 150 scaled score (~67%), and the official registration fee is £110 / $135–$150 USD (varies by region). A failed attempt means paying that fee in full again, so your preparation budget deserves the same attention as your study plan. A practical rule: book your exam date only after you can finish a Actual4Cert practice test comfortably above the passing score more than once.

                  According to CIMA, candidates should meet the following before registering: CIMA Certificate in Business Accounting (Cert BA) or relevant degree / professional qualification for exemption; basic English and mathematics proficiency. Requirements can change, so confirm the latest details on the official exam page before you register.

                  You can register for the CIMA Financial Reporting exam through the official channels below:

                  Exam delivery: Computer-based, on-demand at Pearson VUE test centers or online proctored.

                  CIMA lists the following official training options for this exam:

                  Formal training builds the theory; pair it with the 247 practice questions from Actual4Cert to find out whether you are genuinely ready for the exam.

                  Yes. A free PDF demo of the F1 practice questions is available to download, so you can judge the format and quality before paying anything. Every purchase also includes 365 days of free updates, and if your product expires you can extend the update service at a 50% discount.

                  Your order is covered by a conditional 100% money-back guarantee: if you take the corresponding exam within 60 days of purchase and do not pass, you may apply for a full refund. Exams taken within 3 days of purchase are not eligible, nor are free materials or expired orders, and the candidate name must match the payer name. To claim, submit a scanned enrollment slip and your official Score Report PDF within 2 days of the exam; claims are processed within 7 days. Prefer to keep studying? You can instead exchange your purchase for two free products of equal value while keeping the update service on your original one. Delivery itself is immediate: your product unlocks for instant download right after payment and a copy is emailed to you within a minute — if nothing arrives within 2 hours, contact our support team. There is no limit on the number of computers you can install it on.

                  The CIMA Financial Reporting blueprint is divided into 4 major domains, starting with Managing Cash and Working Capital (25%), Principles of Taxation (20%), and Financial Statements (45%). The full breakdown, including every subdomain and its weighting, is listed in the Exam Topics section above — review it against your own weak areas before scheduling the exam.

                  CIMA Financial Reporting Sample Questions:

                  Question #1

                  Which THREE of the following are part of the International Accounting Standards Committee (IASC) Foundation structure?

                  • A. International Organisation of Securities Commission
                  • B. Standards Application Council
                  • C. Standards Advisory Council
                  • D. International Accounting Standards Board
                  • E. International Financial Reporting Evaluations Committee
                  • F. International Financial Reporting Interpretations Committee
                  Reveal Solution  Discussion  0

                  Correct Answer: C,D,F  🗳️

                  Question #2

                  GH's tax liability at 30 June 20X3 in respect of the tax charge on the profits for the year ended 30 June 20X3 is $876,000.
                  There was an over provision of $105,000 that related to the tax charge on the profits for the year ending 30 June 20X2.
                  What amount should be shown in GH's statement of profit or loss for the year ending 30 June 20X3?
                  Give your answer to the nearest $.

                  Reveal Solution  Discussion  0

                  Correct Answer:

                  $771000

                  Question #3

                  BBB has been experiencing liquidity problems and currently has an overdraft with the bank.
                  Which THREE of the following would be appropriate measures to help address this problem?

                  • A. Pay a dividend to shareholders.
                  • B. Shorten the time taken to pay creditors.
                  • C. Offer early settlement discounts to encourage debtors to pay more quickly.
                  • D. Sell some surplus fixed assets.
                  • E. Reduce the selling price of goods to reduce the holding of stock.
                  • F. Invest in a short term deposit with the bank.
                  Reveal Solution  Discussion  0

                  Correct Answer: C,D,E  🗳️

                  Question #4

                  Which of the following is NOT a principle in the CIMA Code of Ethics for Professional Accountants?

                  • A. Objectivity
                  • B. Professional competence and due care
                  • C. Timeliness
                  • D. Integrity
                  Reveal Solution  Discussion  0

                  Correct Answer: C  🗳️

                  Question #5

                  In accordance with IFRS 3 Business Combinations, acquisition accounting of an investment in another entity within the consolidated statement of financial position means that the:

                  • A. Group's share of the net assets of the other entity are shown as one line within equity.
                  • B. Group's share of the net assets of the other entity are shown as one line under non-current assets.
                  • C. Parent's and 100% of the other entity's assets and liabilities are added together line by line.
                  • D. Parent's and group share of the other entity's assets and liabilities are added together line by line.
                  Reveal Solution  Discussion  0

                  Correct Answer: C  🗳️

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