Free CIMA CIMAPRA19-F02-1 Exam Practice Questions
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Question No 1
Which THREE of the following would typically indicate a finance lease?
Question No 2
LM is a car dealer that is supplied inventory by car manufacturer SQ. Trading between LM and SQ is subject to a contractual agreement. This agreement states the following: • Legal title of the cars remains with SQ until they are sold by LM to a third party. • Upon notification of sale to a third party by LM, SQ raises an invoice at the price agreed at the original date of delivery to LM. • LM has the right to return any car at any time without incurring a penalty. • LM is responsible for insuring all of the cars on its property. When considering how these cars should be accounted for, which THREE of the following statements are true?
Question No 3
In the year ended 31 December 20X7, FG leased a piece of machinery. The accountant of FG had prepared the financial statements for the year to 31 December 20X7 on the basis of the lease being an operating lease. However, following the end of year audit it has been agreed that the machinery is in fact held under a finance lease and therefore the financial statements need to be corrected. The correction will have which THREE of the following affects on the financial statements?
Question No 4
On 1 September 20X3, GH purchased 200,000 $1 equity shares in QR for $1.20 each and classified this investment as held for trading. GH paid a 1% transaction fee to its broker on this transaction. QR's equity shares had a fair value of $1.35 each on 31 December 20X3. Which of the following journals records the subsequent measurement of this financial instrument at 31 December 20X3?
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Total 248 Questions
About This CIMAPRA19-F02-1 Question Bank
This page has 248 free practice questions for the CIMA CIMAPRA19-F02-1 (F2 Advanced Financial Reporting) exam, last refreshed on 7th Sep 2026. Answer each question, then reveal the correct choice to check your understanding before deciding whether to unlock the full question bank.
The demo above is a sample of the complete CIMAPRA19-F02-1 question set. The full bank includes the PDF, downloadable practice test, and online exam-engine formats listed above, with free updates included for the duration you choose.
Frequently Asked Questions
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This demo includes a sample from our 248-question CIMAPRA19-F02-1 bank so you can check the format and difficulty before purchasing.
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Yes, the CIMA CIMAPRA19-F02-1 question bank is reviewed and refreshed periodically to reflect current exam objectives.
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PDF download, an online practice-test engine, and a combined bundle pack with 3, 6, or 12-month free updates.
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