Cima C03 Exam Question No 9

Question No 9:

Three people are carrying out independent functions during an internal audit. It is known that in each of the three separate areas being investigated there is a serious error.
From past experience, it is estimated that the (independent) chances of the individuals finding the serious error in their area are 0∙8, 0∙7 and 0∙6.
The probability that at least one of the serious errors will be found is

A. (0∙8 x 0∙3 x 0∙4) + (0∙2 x 0∙7 x 0∙4) + (0∙2 x 0∙3 x 0∙6)
B. 1 – (0∙2 x 0∙3 x 0∙4)
C. 1 – (0∙8 x 0∙7 x 0∙6)
D. none of the above.

Answer: B

Cima C03 Exam Question No 8

Question No 8:

In a group of 100 players, 30 are male, 55 are at pro level, and 6 of the males are at beginner level. A player chosen at random is female. What is the probability that she is not at pro level.

A .80
B .56
C .44
D.20

Answer: C

Cima C03 Exam Question No 7

Question No 7:

A trader’s weekly costs, TC, are less than or equal to $100. Weekly revenue, R, is a minimum of $120.
Which ONE of the following statements is true?

A. TC < $100 and R > $120 and R > TC
B. TC ≥ $100 and R ≤ $120 and TC > R
C. TC ≤ $100 and R > $120 and R < TC
D. TC ≤ $100 and R ≥ $120 and R > TC

Answer: D

Cima C03 Exam Question No 6

Question No 6:

The estimated total cost of each unit of a product is £12 (± £1), and the estimated selling price of each unit is £20 (± £3). The estimated profit per unit will be

A: £8 (± £4)
B: £8 (± £3)
C: £8 (± £2)
D: £8 (± £1)

Answer: A

Cima C03 Exam Question No 5

Question No 5:

A trader’s weekly costs, TC, are less than or equal to $100. Weekly revenue, R, is a minimum of $120.
Which ONE of the following statements is true?

A: TC < $100 and R > $120 and R > TC
B: TC ≥ $100 and R ≤ $120 and TC > R
C: TC ≤ $100 and R > $120 and R < TC
D: TC ≤ $100 and R ≥ $120 and R > TC

Answer: D